08-29-2011 07:05 AM - edited 08-29-2011 07:06 AM
Since I bought my condo in May I've kept a close watch on how many units are for sale (active not under contract) in the complex. I figured as the supply went down prices should start to rise. Generally there have been around 6 2 bed 2 bath, 2 3/2 and 3 1/1. out of 352 total units this doesn't appear too bad to me.
Right now there are three 2/2 and one 3/2 and no 1 bedroom units.
What do you think are things heating up?
Thanks for your input.
08-30-2011 03:26 PM
Welcome to the ZipRealty community! Thank you for posting in the forums.
I will contact one of the local agents to see if they are able to answer this question for you.
Client Care Specialist
09-01-2011 09:16 PM
The market is certainly busy, and you are correct that the inventory has been down. Not sure how that trend will continue but certainly a good sign. Many of the units that are on the market get multiple offers. There are some really good signs for our market.
09-30-2011 02:16 PM
There was a news release a few days ago that home/condo prices will continue to slide due to continuing unemployment situation and bad economy and I noticed that almost everyday there are new foreclosure homes for sale release by the banks. It has been predicted that home prices will not hit bottom until these two conditions improve.
10-26-2011 05:37 AM
We spent last week furnishing our condo and doing minor fix ups. Love every thing about the community so far. It didn't hurt that the weather was perfect.
Had my nephew over to see it, he is a 15yr vet of Metro and he loved the security and location. In fact they are considering buying a 1 bed unit for their daughter who is going to UNLV.
I see more and more indications that the market I bought into is turning around slowly. Last week four units came off the market and no new ones. That leaves only two 1 bed and two 2 bed available, lowest level since I've been watching. Generally there were 8-12 available. There are still plenty of forclosures in the pipe line ( I watch that also) but no new forclosers added.
My opinion is that recovery will be uneven with lower priced units with quality locations going first.
Just my thought would be interested to hear others.
11-11-2011 06:59 PM
11-12-2011 06:33 AM
When I see a property removed from MLS then I check the clark county site to see if a Deed was registered and at what price. I do see some removed that were not sold. Conversly I see some sold that were never listed.
I also monitor that site to see if any new ones have entered the foreclosure process. Right now I'm watching three condo communities in the South West.
The only patern I've seen is fewer active listings and fewer entering forclosure. I'm not sure if this is the result of Fannie and Freddie changing gears or an actual improvement. I'm not getting too excited because it's a short time frame and I haven't seen prices move up yet.