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Winter 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Summerlin. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 702-245-7185
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| Average Home Price | $275,000 - View Graph Trend |
| Average Price Compared to Last Year | Up 0-5% |
| Average Time on Market | 60-90 days |
| Best Selling Price Range | $250,000 - $299,000 |
| Worst Selling Price Range | $750,000 - $799,000 |
| Prices As % of Asking Price | 95-100% |
| Existing Home Prices for the past 90 days are? | Increasing |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | More buyers than sellers |
| Buyer Activity for the past 90 days in Summerlin is | Increasing |
| Seller Activity for the past 90 days in Summerlin is? | Increasing |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | With time on the market increasing, sellers are encouraged to get one solid offer. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 45-50% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | Getting the sale closed is tougher- you need a lender who can help get the buyer to the closing table. |
| Housing Inventory | Good supply - Some Prices |
| Inventory Comments | Good supply of’traditional’ listings- not distressed or foreclosed. |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Good economic news |
| Nearest Metro Area | Las Vegas |
| Housing Hot Spots | Most cities within the Clark County area are considered ’Housing Hotspots’ The Vistas is well received. |
| Average Sold Price | $275,000 - View Graph Trend |
Summerlin Local News
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
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Mortgage Rates
– Feb 15th, 2012 –
---------------------------------
30 yr. fixed rate: 3.87%---------------------------------
15 yr. fixed rate: 3.18%
30 yr. jumbo rate: 4.69%
15 yr. jumbo rate: 4.00%
Home Values
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