Real Estate Information Archive

Below is a link to the Las Vegas Review Journal Business section for Friday, January 22, 2010.

A month does not a trend make, yet it is well to note that August 2009 prices in Summerlin increased by an average of $3.00 per square feet over July 2009.  We are currently selling at an average of $121.00 psf, with an average "Days on Market" of 59, and an average sales price of $293,553.  Houses are selling for 98% of list price.  These numbers are all improvements from the month before.

Life is good.

Check out this very positive story in yesterday's Las Vegas Review Journal about the record sales of single family residences, townhomes and condiniums in June - 4,702 - CRAZY!

http://www.lvrj.com/news/50348097.html

Linked below is an interesting article from RIS Media describing ten indicators determining a bottoming out of the market, pulled from guidelines established by the Appraisers Institute.  I think we're close . . . .

Have We Reached Bottom? 10 Factors to Consider

The housing inventory in the Las Vegas Valley is drying up these days.  The average price per square foot "sold" in Summerlin is $120 psf.  It's time for the Banks to release more of the rumored 30,000 homes, eh?