Tom Wirt Gives Las Vegas Housing Market Review for August 2015

Las Vegas, NV, September 21, 2015 --(PR.com)-- During Las Vegas real estate agent Tom Wirt's review of the Las Vegas housing market, he started with the fact that the Las Vegas housing market was one of the top cities effected by the recession. Foreclosure rates were through the roof and consequently many Las Vegas residents lost their home. The recovery of the housing market in Las Vegas has been gradual, but home prices in certain areas are rising to their previous height and the real estate market is thriving again. Below are the facts of the report given by Tom Wirt on the state of the current Las Vegas housing market.

In August of 2015, 2246 homes were sold in the Las Vegas housing market. This number decreased from the previous month, July, where 2517 homes were sold. The number of condos sold in August also decreased from July by 17. The decrease in homes sold can be affected by the start of school in August. Those with children, likely want to be settled in before the start of the new school year. The number of homes that were sold as short sales has decreased by 49, 227 short sale homes sold in July while only 178 short sale homes sold in August. Townhouses actually increased this month from 162 sold in July to 178 sold in August. 23% of the homes sold in August had pools. There were 208 repossessed homes sold in August which declined from the 251 sold in July.

Of the homes sold in August, 14% were homes under $100,000. Homes priced between $100,000 and $200,000 had the highest amount of sold homes for short sales and traditional sales. 1,089 traditional homes sales and 99 short sales were sold priced between $100,000 and $200,000 making it over half (52%) of all homes sold in Las Vegas. Homes between $200,00 and $300,000 made up 34% of the homes sold in Las Vegas. 291 homes priced between $300,000 and $400,000 were sold during the month of August while 106 homes sold for $400,000 to $500,000. Only 1 home priced between $500,00 and $600,000 was sold as a short sale, and 36 homes in that price point were traditional sales. While no home above $600,000 sold as a short sale 28 homes sold traditionally between $600,000 – $700,000. .2% of homes sold in Las Vegas were priced between $800,000 and $900,000 and only .1% were priced between $900,000 and 1 million and 14 multi-million dollar homes sold in the month of August.

Tom Wirt has been working in the Las Vegas Real Estate market for nearly a decade. In the beginning of his Real Estate career, Tom started off working with major lenders on the financial side. He went on to work for a small mortgage broker. His extensive experience in all aspects of the industry allows him to assist others in making their experience as flawless and easy as possible.

Tom has gained experience in all areas of the residential real estate market. He’s worked with buyers, sellers, investors, and lenders. Tom Wirt goes above and beyond to be there for clients before they even realize they need him. Tom’s wealth of knowledge and experience make him the best match for your Las Vegas real estate needs.