Las Vegas Real Estate Guide
Las Vegas Real Estate Information
In 2006, the population of Las Vegas, Nevada was estimated
to be 552,539 which was a growth of 15.1% from 2000 when the population was 478,434 (1). In 2000, there were 190,724
housing units which were home to 176,750 households (1). The percent of ownership of these housing units was 59.1% and
the median value of these owned homes was $137,300(1).
In 2006, the population of North Las Vegas, Nevada was
estimated to be 197,567 which grew at the incredible rate of 71.1% from 2000 when the population was 115,488 (2). In 2000, there
were 36,600 housing units which were home to 34,018 households (2). The percentage of ownership of these housing units was 70.1%
and the median value of these owned homes was $123,000.
By 2006, the population of Henderson, Nevada had grown to 240,614 from
175,381 in 2000 representing a growth rate of 37.2% (3). In 2000 there were 71,149 housing units which was home to 66,331 households
(3). The ownership percentage of these housing units was 70.5% with the median value of thoses owned homes was $156,000 (3).
Clark County which includes Las Vegas, Henderson, North Las Vegas, also includes Boulder City and Mesquite. Clark County
saw its population grow from 1,375,535 in 2000 to an estimated 1,865,746 in 2008 representing a growth rate of 35.6% (4).
The number of housing units was 810,602 with 35.6% being in mult-unit complexes such as condos which were home to 512,253 households
in 2000 (4). The ownership percentage of these housing units was 59.1% with the median value of those owned homes being $139,500
(4).
The Las Vegas real estate market was a mixed bag in 2009 with sales increasing while prices where dropping (5). According
to the
Greater Las Vegas Association of Realtors (GLVAR) and
Prudential Americana Group Realtors, there were 95000 real estate transaction
resulting in 47500 property sales but the average selling price had dropped from $204,000 in December 2008 to $165,000 in December
2009 which is an overall drop of over 17.5% in term of selling price (5). In December 2009, 776 condos and townhomes were
sold in the Las Vegas area which was almost 71% increase in sales when compared to December 2009 but the sales price dropped on average
by 28% with the median sales price of these real estate properties being $65,300 (6). The one positive point was when compared
in the drop from December 2007 to December 2008 which was 33%, there appears to be a huge decline in the devaluation rate of Las Vegas
real estate (5). In December 2009, about 70% of all real estate listing in the Las Vegas market were short sales requiring a
bank approval (6). This was a significant change which caused the properties actually sold as foreclosures to have dropped from
67% in January 2009 to 60% in December of the same year (6). 46,879 single-family homes, condos, and townhouses were sold in
2009 resulting in a over 163% increase in sales as compared to 2008 when only 28,618 of these type of housing units were
sold but is still far less when the Las Vegas area in 2004 saw nearly 72,000 of the various housing units sold (6).
In 2009, there were bank owned closing of 33,974; short sale closing of 5,422; and traditional sales closings of 7,688 (7).
In
January of 2010, sales of homes soared by 17.3% from January 2009 but the average price of homes dropped to $134,925 representing
a decline of 15.7% in median price of homes (8). A somewhat positive note was that this represented only a decline 0.8% from
December 2009 median sales price. The number of short sales was 21.1% and bank owned sales of real estate declined from 60.1%
to 57.4% which was a postive note (8). There was sales of 658 condos and townhomes in January with a median sales price of $69,000
representing a 5.7% increase over December price but still down 13.8% from a year ago.
There was some upbeat news
on the Las Vegas real estate market. The go-head on the sale of the stalled Fontainebleau Hotel project to Financier
Carl Icahn for $150 million will hopefully get this project going again and create more jobs in Vegas. Another factor which
could be promising for the Las Vegas real estate market is the bad weather in the Midwest and East Coast which could cause weather-weary
seniors to considered moving to this Nevada city (9).
In February of 2010 as in other recent months, the recent trends continue
with sales increasing (4.5%) but median sales price declining (12.8 %) as compared to a year ago (10). There are some potential
upside factors with cash-only median sale price increasing to $135,694 from $134,925 representing a 0.6% increase and the decrease
in the number of homes listed for sale 20,262 which was a 8% decline (10). In February, a total of 3800 properties went
on the auction block with 550 brought by third parties (11).
The Las Vegas economy continues to decline with sales
declining by 8.4% in December from 2008 Decembers levels with motor vehicle and parts sales declining by 0.7% (12).
Taxable sales from food and drinking establishments decreased by 17.6% from a year ago.
Individuals who brought vacant lots
in the past 10 years have seen their investment hopes crushed (13).
Las
Vegas Real Estate Agents and Agencies
Barbara Wagner is part of Prudential
Americana Group Realtors and has property listing for the Las Vegas area.
Billy O'Keefe is a member of the Prudential Americana
Group Realtors who is a Certified Short Sales Specialist in the Las Vegas area.
Brad Thielke is a Coldwell Banker
Wardley Real Estate has homes, condos, and townhouses for sale in Las Vegas.
Greater Las
Vegas Homes has real estate including homes and condos listing for Las Vegas, Henderson, Boulder City, and other Las Vegas area
locations.
Heidi
Winston is a ReMax Benchmark Realty which has properties for sale in Las Vegas and Clarke County
Home Away Real Estate has listing for homes
in the Las Vegas, Henderson, North Las Vegas, Mesquite, and Lake Las Vegas real estate markets.
Luxury Homes of Las Vegas has
both Mel Schneider and Neal Cook who have BS, GRI, ABR, RRG, SFR, REO Certified and sell properties in the Las Vegas area.
Jacqulyn
Richey, Real Estate Agent of Prominent Realty Group has properties available in Las Vegas, North Las Vegas, Henderson and Summerlin.
Jay
Bravin, CRS, GRI, RRG is a Certified Residential Specialist with Prudential Americana Group Realtors in the Las Vegas Real Estate
market.
Jimena Paridee is a member of Prudential Americana Group Realtors has real estate listings in the Las Vegas area.
Jeff
& Kelly Stafford are associated with CENTURY 21 MoneyWorld and are realtors involved in the buying and selling of Las Vegas
area real estate.
Jenal Pollard who is part of Knapp Realty has listing for homes in Las Vegas.
Judy Gianoulakis & Sandy
Hall sell single family dwelling and income producing properties in the cities of Las Vegas, Summerlin, Green Valley, Henderson
and Sun City.
Judye Phebus who is a Broker/Salesman is a member of the Prudential Americana Group Realtors who works in the Las
Vegas area.
Karen Warren is part of the Prudential Americana Group Realtors is a real estate agent serving the Las Vegas
area.
Kevin Cotton who is a member of the Reality One Group is an Agent/Realtor in the Las Vegas area.
Lake Las Vegas Real
Estate is run by April Malavet serving buyers and sellers of real estate in Lake Las Vegas, Henderson, North Las Vegas, Summerlin,
and Clark County area.
Michael Parks is part of
the Prudential Americana Group has feautured housing listings and vacation rentals.
North American Realty of Nevada has Tony
Sena and his team of Licensed Realtors who sell homes and other properties in Las Vegas, Henderson, North Las Vegas and Boulder City.
Premier Real Estate has listing for Las Vegas, Henderson, and North Las Vegas
homes and other properties.
Prudential Americana Group has properties listed throughout the Las Vegas, Nevada including
Las Vegas, North Las Vegas, and Henderson.
Re/Max Central has
real estate for sale in the Greater Las Vegas area.
Real Estate has a searchable data base of properties in Las Vegas for sale.
Realtor has
real estate listing for the Greater Las Vegas area.
Realty One Group has David Klaff as its real estate representative has
Las Vegas area properties for sale and rental.
Rise Realty has both Bill Cody and Christopher Rauschnot who are realtors
for the Las Vegas area.
Sharon Durdel-Furze who
is a Broker-Salesperson with credentials of ABR,CRS,GRI, and SRES has real estate available in Las Vegas and Summerlin.
The Jolley Team who has both Sherry & Lynn Jolly is part
of the American Realty Property Management LLC has listing of homes for sale in the various Las Vegas area communties.
The Michelle
Sterling Team who is a member of the Prudential Americana Group Realtors has real estate listing for the Las Vegas area.
The Tonnesen Team has Diann and Glen Tonnesen
who are
members of Prudential Americana Realtors sell Boulder City, Henderson, and Las Vegas real estate.
Tracey Donley who is a
Re/Max agent serves the Las Vegas, Summerlin and the Las Vegas Valley area has many homes for sale.
Trulia has
Las Vegas real estate and homes for sale.
Zillow has Las Vegas real estate
and homes for sale.
Sources Cited
(3).
U. S. Census Bureau (3). "Henderson (city),
Nevada " 01 July 2009. U. S Census Bureau. 12 Jan. 2010.
(4). U. S. Census Bureau (4). "Clark County, Nevada" 01 July 2009. U. S Census Bureau. 12 Jan. 2010.
(5).Bay, Carrie. "Las Vegas Real Estate Posts 2009 Positives Despite Recession" 11 Jan 2010. DSnews. 12 Jan 2010.
(9). Wargo, B. " In real estate, Las Vegas sitting pretty for weather-weary seniors" 15 Feb 2010. Las Vegas
Sun. 20 Feb 2010.
(10). Smith, H. "2,390 HOMES SOLD IN FEBRUARY: Local home sales up, prices down" 14 Mar 2010. . 14 Mar 2010.
(11). Maimon, A. "Real estate auctions remain active, draw eclectic clientele" 05 Apr 2010. Las Vegas Review-Journal. 06
Apr 2010.
(12). Edwards,
J. G. "NEVADA ECONOMY: Sales down but not as much" 24 Feb 2010. Las Vegas Review-Journal. 25 Feb 2010.
