[lvmensch]

The June numbers are out. The market remains extremely tight. 1.5 months of supply for single family residences. Under a month for condos. Condos are actually selling faster than the are being listed.

price is up about 10% year over year. The median was up about 3% month over month but the average was flat.

Such a set of conditions would be expected to drive prices upward at least until the weaker winter season arrives.

[ddrhazy]

Thought I would bump this back up since we have two active threads at the top that are actually just this thread in disguise.

I'm seeing condos going quick(although their prices have been depressed more than SFRs for the last 10 years).

Realtors continue talking about how anything under 300k goes quick but those are homes in nice neighborhoods. Other market segments where people previously avoided because it was unfavorable are now getting a lot of focus. Anything under 150k is getting snapped up(e.g. - rough neighborhood homes, mobile homes, condos, townhomes).

[ddrhazy]

https://twitter.com/eli_segall


https://www.youtube.com/watch?v=1ch2U8oJQkE&t=2s

[Tek_Freek]

Redfin just updated our value. Up $10,040 in the last 30 days. And they are historically at the bottom end of estimates.

[lvmensch]

The folks at Lied Real Estate at UNLV have again published their report after a long hiatus.

http://www2.realtoractioncenter.com/...df?docID=37229

Good to have it back.

[Camaro5]

I met last week with two realtors and that report is pretty much right on the money with what I saw and experienced. I was told that the typical inventory of housing units (homes, condos, etc) in the Las Vegas/Henderson is normally between 15,000 and 16,000. Currently there is between 6,000 and 7,000, which is in line with what's been discussed here.

When we searched under the criteria we require, we came up with about 80 possibilities. That covered location, price, size, etc. Not great, but not bad either. Out of 80 places I'm sure we'll find something we like.

The other thing is that while I knew the good ones were selling fast, I was a little surprised that they sell at or above list price. I guess I shouldn't be surprised, given the market conditions. Where we are now, you start high and negotiate down. That is a little different.

Our house goes on the market here next week. Our town of 75K people had 176 home sales in July alone. My neighbor's house sold in 45 minutes, so I expect ours to sell fast. The market is good here, too. Prices are up here as well, so things will balance out.

[foundapeanut]

^^^ Better go out today! 80 is a lot. Might want to tighten your standards a bit, like location.

My friend had a full price cash buyer for their house the second they signed the RE agreement. 7 figure house. Same agent. All the bells and whistles and a fabulous view.

However they decided they were going to go out looking BEFORE they signed the offer. They looked for 2 full days and found nothing to their standards. Thank God they had three days to sign the agreement and didn't. They told me they are staying put.

Should of known if there is a waiting offer. That buyer didn't find anything either.

[Camaro5]

Originally Posted by foundapeanut

^^^ Better go out today! 80 is a lot. Might want to tighten your standards a bit, like location.

Yes, even the realtor said that 80 was a pretty good selection to pick from. The search covers a pretty wide area, basically outside the beltway from South Summerlin to the 95.

My wife has a job offer from Kindred Healthcare (RN Care Coordinator) and will have a territory of hospitals to cover. Not sure what those are yet but I'd like to stay somewhat close to the 215.

Our ideal locations would be Seven Hills, Anthem, or GVR but driving around there last week it seemed more congested than South Summerlin was. Just my observation. It wouldn't be a deal breaker by any means.

[Tek_Freek]

Originally Posted by Camaro5

Yes, even the realtor said that 80 was a pretty good selection to pick from. The search covers a pretty wide area, basically outside the beltway from South Summerlin to the 95.

My wife has a job offer from Kindred Healthcare (RN Care Coordinator) and will have a territory of hospitals to cover. Not sure what those are yet but I'd like to stay somewhat close to the 215.

Our ideal locations would be Seven Hills, Anthem, or GVR but driving around there last week it seemed more congested than South Summerlin was. Just my observation. It wouldn't be a deal breaker by any means.

Eastern Sucks 24/7. One of the reasons we ended up in SC Summerlin instead of SC Anthem.

[foundapeanut]

^^^ it sucked back in '99! Husband bought a lot in 7 Hills. Had me come out and I said this traffic is awful. How we ended up on the west side. Had the lot 3 months and sold it for $60,000 more than we paid.

They need more roads over there.