The Klinger Group Of Nevada Desert Realty Gives Las Vegas Real Estate News

Clark, NV, December 06, 2015 --(PR.com)-- Market Conditions
As we enter into the month of December, which is usually the slowest month in real estate as many people are busy traveling for the holidays. Despite the the fact that there are usually less people listing their home for sale or looking to purchase a home, this year’s numbers for December are much higher than last year. In the city of Las Vegas, there are 652 new Las Vegas real estate listings. 1,598 listings have been reduced in the last few weeks as sellers may be getting impatient because there are less buyers looking for homes for sale during the holidays.

November saw almost 3,000 new listings in the beginning of the month, but that rise in listings saw a dramatic fall from the beginning of November into December, where we have 652 new real estate listings. Las Vegas short sales and foreclosures also saw a slight rise in the beginning of November, but that has decreased from the beginning of the month to the end and the beginning of December.

Distressed listings in Las Vegas
Currently there are 254 Las Vegas foreclosures or bank owned houses for sale. Las Vegas was one of the real estate markets hit hardest in the United States during the recession. The foreclosure percentage has dropped significantly in the past few years. Though numbers are currently down, real estate experts expect the numbers to raise slightly over the next 6 months to a year. This increase is due to the fact that banks are seeing that the market is healthier. Though banks do not always operate this way, it is in their best interest to not flood the market with foreclosures and short sales as it will increase the supply. If the supply majorly exceeds the demand, prices will drop and banks will not be able to get as much money back for the homes they foreclosed on.

The Las Vegas real estate market currently has 645 short sales. A short sale is different from a foreclosure as the owner of the home will try and work with the mortgage lender to get the home sold. The bank will have to agree to take the loss, but usually banks will do what they can to avoid a foreclosure and lose even more money. A short sale will usually not affect a person’s credit as badly as foreclosure, and in some cases a homeowner may walk away with a little money from the sale.

Las Vegas Averages
The Average home price in Las Vegas is $377,266, this is just over $10,000 less than the Clark County average. The average taxes in Las Vegas is $2,187. The average cost per square foot of homes for sale in Las Vegas is $166, which is $2 less than the Clark County average. The average walkscore in Las Vegas is 34. The average home was built in 1995, which is a year older than the rest of the county. Las Vegas homes are listing on the Las Vegas MLS for an average of 104 days.

The Klinger Group at Nevada Desert Realty has been in real estate for the last 14 years. As specialist in Henderson, but also servicing Las Vegas and Boulder City, the Las Vegas real estate agents at the Klinger Group have a firm understanding of the local real estate market. This helps them price homes to get top dollar but also sell fast, advise their clients how to make competitive offers on homes for sale, and answer any real estate questions their clients may have.