Las Vegas Market Update – January 2012

New Property Management Permit Course!

First, I am going to shamelessly plug Americana’s Pre-Licensing Property Management Permit course that was recently approved by the Nevada Real Estate Division. Registration is now open. Just click here to view the course and/or register.

The Current Las Vegas Market

Single family residential (SFR) closings for December finished 9.4% better than November and slightly better than December 2010. Total year-to-date closed units are up just over 10% from this time last year. Traditional and Short Sale closings continue to pick up momentum over Bank Owned (REO) closings this month even as available REO listings continue their decline. Notice the trend chart below!

To Download the entire Equity Title Market Update Report – Click Here!

Market Price Changes

Bothe the median and average prices decreased during December with the median closed price of an SFR decreased by 4% to $120,000. But the real story is that 2011 closings ended up at the same level as 2009.  Now the real question is; “How much political rhetoric in 2012 will turn into political reality?”

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