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  • Las Vegas Real Estate Market statistics October Update 2014

    (702)379-3401– Las Vegas Real Estate Market statistics October Update 2014

    There are great things that are happening around town with a lot of focus on Summerlin. With many new stores, personal services and new restaurants in Downtown Sumemerlin the place is packed, with a lot of fanfare, it’s the place to be. With more stores and eateries to still open, I recommend checking out the movie theater with recliners, and drink service, it’s a great atmosphere! Massive draw!

    New home construction is still booming. With both on and off sites, a 9,000 home development, Sky Canyon, is under way and is located off of the US 95 North. We would love to show you homes in the area.

    Good news! UNLV has Cyber, a great way to track economic research and data.It shows we are leading and showing an economic increase, much better than in July 2013. The business activity index is up; tourism index is showing a little loss, but not terrible, and still up year to date. Construction index is up as Las Vegas is building more, and doing more! It’s a great place to live.

    Looking at real estate market statistics for last month:

    Foreclosures sales measure at 2850 single family condos and town-homes in September of those Real Estate 80% 2284; Short Sales diminishing with 311 at 11% of the market; Reo/ Foreclosures are down and only making up 9% of market; with 954 conventional sales, 367 FHA, 241 VA funded purchases cash purchased are down at 952. Cash purchase rate are less than 50% of the buyer pool, making them a much smaller part of the market, creating a more traditional market vs. this time last year when cash home purchases made up 60-70% of market.

    With only 3 months of inventory on the market, Las Vegas is still considered a seller’s market, and will stay that way until we see approximately 6 months of inventory. It’s a great time to sell if you are considering a move. We would love to speak to you, and help you with your new home purchase, resale purchase or sale of your home. Give us a call we would love to speak to you and assist you with all of your real estate needs. Subscribe to our YouTube channel or check out our website for all of the latest updates.

    Dave Radcliffe, The Radcliffe Group, Keller Williams Realty Southwest 702-379-3401

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