The Prices of Las Vegas Foreclosure Homes for Sale

The Prices of Las Vegas Foreclosure Homes for Sale

Based on the data realesed by real estate experts, the percentage of Las Vegas Foreclosure homes for sale that closed in October declined, but the percentage was still records high, keeping at bay home price increases.

Sixty- four percent of all home sales in Las Vegas were bank- owned foreclosed homes in October and in September, a decrease from the 67 percent share. This still high percentage of foreclosure sales restricted the increase in the median sales price for all kinds of homes sold as the median value for bank-owned foreclosure homes in October was $116,900.

The median sales cost for all kinds of homes in Las Vegas in October went up by only $1,100 to $139,100 from the September median of $138,000. Compared to the August median value of $135,500, the increase was larger, but the median was still lower by approximately 27 percent compared to September last year.

In October, the realtor association also reported that the total sales of single- family houses went up. The increase revitalized real estate professionals who are hoping that the collection of positive signs arising over the past days such as stability of home prices, increase in home sales and reduction in housing inventory are true signs of an important recovery from Las Vegas foreclosure homes for sale.

According to realtor association, the sales of single family homes went up by 30 percent to 3,535 units in October compared to last year's October sales. The number of days that almost 75 percent of homes stayed on the market also fell to less than two months.

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