Here is an interesting link that shows you the number of Las Vegas Homes that have been reduced in price in the Las Vegas area for the past seven days. Click this link to view Las Vegas Home Price Reductions for the past seven days to view Las Vegas area homes.
Today’s search resulted in 2045 Las Vegas Homes that have been reduced in price in the past 7 days. Lower interest rates, recent drops in prices by New Las Vegas Home Builders of up to 20% on their standing inventory is making Las Vegas real estate very appealing. Let’s face it, Las Vegas is one of the most exciting cities in the world and is always reinventing itself so the interest for Las Vegas real estate is always high and when prices are right, it sells. It’s all about the price in Las Vegas. Price it right and it will sell.
Two of our listings in Las Vegas golf course communities have been dramatically reduced in price from their highs. One in Spanish Trail that was originally listed for sale for $374,000 is now being offered by the home owner for $295,000 (a 21% price decrease) and another one in Rhodes Ranch Country Club on the golf course that was once listed for $900,000 we just put on the market for $750,000 or a 17% price decrease from the market highs. You can view these two properties with multiple photos at our Las Vegas Real Estate site.
In my next post I’ll go over the big difference between a 50% price increase for a median price of a home and a 20% price decrease and explain the importance of this. I’ll also explain why tracking Las Vegas median home prices for the past 8 years really means absolutely nothing as a gauge to track the Las Vegas real estate market. In actuallity, it’s pretty pointless to even follow if you are buying or selling Las Vegas real estate.
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Thank you for reading and you can always contact me directly using the information provided below.
Paul Francis, ABR,CRS | Coldwell Banker Premier | 10120 S. Eastern Ave | Las Vegas Real Estate
February 6, 2008 at 10:42 pm
[...] You can use my Las Vegas real estate searchto see what you can buy for $450,000 in Las Vegas and make sure you check out the tool that shows the number of Las Vegas real estate price reductions for the past seven days. (1,497 for today which is a decrease from the reported 2,045 on January 23.) [...]