Las Vegas Homes search

Las Vegas Homes search

Market Data Report – March 11, 2012

As of March 11, 2012, there are 21,903 properties for sale in the Multiple Listing Service (MLS).  This includes single family homes, condominiums and townhomes in the Greater Las Vegas area, North Las Vegas and Henderson.  This includes traditional equity sales, Las Vegas short sales and bank-owned/foreclosed homes.

65% of those listings are ‘under contract,’ leaving only 7,614 properties that are available.

MLS
Active Listings by Price
Single Family, Condos, Townhomes – Area 101-702
March
11, 2012

UNDER
CONTRACT
Total

Available

%
Under
Price
All
Types
Listings
Contingent
Pending
Contract

$0-$50K


2261

617

1328

316
73%
$50K-$100K

6879

1936

4203

740
72%
$100K-$150K

5476

1702

3270

504
69%
$150K-$200K

2966

1058

1637

271
64%
$200K-$250K

1488

623

740

125
58%
$250K-$300K

391

361

64

816
52%
$300K-$350K

485

238

213

34
51%
$350K-$400K

314

175

110

29
44%
$400K-$450K

225

133

81

11
41%
$450K-$500K

150

94

47

9
37%
$500K-$600K

186

128

51

7
31%
$600K-$700K

116

78

36

2
33%
$700K-$800K

83

57

21

5
31%
$800K-$900K

76

55

21

0
28%
$900K-$1M

54

40

12

2
26%
$1M
& Up

328

289

30

9
12%
Total

21903

7614

12161

2128
65%
Information
compiled by Karol Lucan from GLVAR MLS service. Deemed accurate but not
guaranteed.

What the numbers mean to you as a buyer?

The statistical data shows that the MAJORITY of the market is NOT AVAILABLE TO BUYERS.  Once a home is ‘under contract’ it means that someone else is attempting to buy it and the seller and buyer have agreed to specific terms.  Being ‘contingent’ means that there are still things that need to happen before the property can be sold, such as inspection, an approval from the bank on a short sale, or the buyer getting fully approved for financing, among other things.  A ‘pending’ property means that all the contingencies are over, and it’s just a matter of time until the property officially sells.

As a buyer, you only want to see the homes that you can actually buy, right?  So, why would you want to waste your time looking at contingent or pending homes?  You wouldn’t.  But you are doing this every time you search for property on your own, and you very likely don’t know this.

Properties that you may be searching for on other websites, such as Zillow, Trulia, even realtor.com will INCLUDE the contingent and pending homes!  You will want to check the ‘status’ section of each individual listing.  The process can be tedious, and as a buyer, I’m sure you’d rather be looking at the photos and making appointments to see the properties.

Your solution?  Contact me and I will create a search that will send you ONLY homes that are listed as available! 

Because of the current market conditions, here’s what you’ll want to be sure to do and know when buying a home:

  • If you are going to need financing, you MUST get pre-approved from a lender BEFORE you can place an offer on a home.  Check my list of partners for several great lenders, or call/email me and I’ll be happy to send you a list.
  • DO NOT make any large purchases after your pre-approval, as this can affect your loan application
  • Have your real estate agent explain the entire buying process to you BEFORE you start looking for a home.
  • Once you find a home that you like, review the comparable area sales with your real estate agent and make a fair offer.  In many cases, you may be competing against other buyers for the same property.
  • Be patient when purchasing a short sale.  They take time and if you are in a hurry, you may be better off looking for a traditional sale or bank-owned property

These are just some of the basics.  Call or email me so we can schedule your buyer consultation soon.

Visit my website to search all Las Vegas, North Las Vegas and Henderson homes for sale

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