August Was Hot – For Las Vegas Home Sales!

Parts of the country experienced record-breaking temperatures in August (especially in the desert southwest) and we recently learned that August almost set some other records. It was a near-record breaker month for Las Vegas homes sold during the month of August.

A report released in September by the Greater Las Vegas Association of REALTORS® (GLVAR) show sales of local homes, condominiums and townhomes jumped significantly in August.

Las Vegas almost set an all-time record for existing home sales in a single month.  The total number of Las Vegas area  homes, condominiums and townhomes sold in August was 4,693 – that number is up from both July 2011 (4,037) and from one year ago (3,638).

What do these numbers mean to you? If you’re thinking about selling your home, now may be a good time. If you’re in the market to buy a new Las Vegas home, you may want to start looking now, because sales for single family homes increased by 31.5 percent last month. If you want to get into your favorite Las Vegas neighborhood or your dream home, now is the time (before all of the good homes are gone).

Investors are still buying almost half of Southern Nevada’s existing homes.  About 51.2 percent of the Las Vegas existing homes were bought by investors (mostly with cash). If you’re an investor, we can help you find a home and manage it for you. Our full-service property management department can take care of every step of your investment – from finding the right renters to maintaining your property.

Almost three-quarters of homes sold were non-traditional sales (short sales or foreclosures). About 21.7 percent of homes sold were short sales and about 50.2 percent of homes sold were bank owned. Short sales can be a difficult (and long) process, especially if your agent has little experience. We have an expert short sales specialist with proven success selling Las Vegas short sales. We can help you through the process and make sure your short sale is as smooth as possible.

This report shows that the Las Vegas homes selling market is heating up.  To get in on it, call us today at (702) 376-7379 or visit www.shelterrealty.com to see all of the homes for sale.