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Cunningham Group Client Newsletter
VOL. 1, ISSUE 5 JUNE 2013
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By Shawn Cunningham Existing-home sale activity is up 9.7 percent over the 4.53 million-unit level in April 2012, according to a recent report by the National Association of REALTORS (NAR). Existing-home sales, which include recently purchased single family, townhomes, condominiums, and coops are currently on pace to reach 4.97 million annual units, up from 4.94 million in March. NAR chief economist Lawrence Yun said the market is in full recovery. "The robust housing market recovery is occurring in spite of tight access to credit and limited inventory. Without these frictions, existing-home sales easily would be
well above the 5-million unit pace," he said. "Buyer traffic is 31 percent stronger than a year ago, but sales are running only about 10 percent higher. It’s become quite clear that the only way to tame price growth to a manageable, healthy pace is higher levels of new home construction." Current existing-home sales are at their highest pace since November 2009, when the home buyer tax credit was available. Total monthly sales have improved over their year-ago levels for 22 consecutive months, while prices have risen 14 consecutive months over their year-ago levels.
Shawn Cunningham ABR, CRS, ePRO, CDPE REALTOR (702) 530-5002
shawn@cgroupvegas.com
Kyle Cunningham Property Manager REALTOR (702) 530-5002
kyle@cgroupvegas.com
Jack Thompson Buyer Specialist REALTOR (702) 682-7527
jthompson@remax.net
Inside this issue:
Cunningham Group @ RE/MAX Advantage 10075 South Eastern Ave. #103 Henderson, NV 89052
2 LAS VEGAS, NORTH LAS VEGAS, HENDERSON & BOULDER CITY SINGLE FAMILY RESIDENCE– RESIDENCE– MAY 2013 AREA
LISTED
SH SALE REO LISTED LISTED CLOSED
% SOLD
DAYS ON MARKET
MONTHS SUPPLY
LIST PRICE (MEDIAN)
CLOSE PRICE (MEDIAN)
North
(101-103)
570
86
64
604
106.0%
12
0.9
$149,970
$151,750
East
(201-204)
366
42
35
307
83.9%
17
1.2
$104,900
$105,000
South
(301-303)
341
40
24
278
81.5%
13
1.2
$149,300
$152,000
NW
(401-405)
763
58
46
630
82.6%
14
1.2
$169,900
$170,000
SW
(501-505)
828
53
50
687
83.0%
16
1.2
$199,000
$200,000
Henderson (600’s)
618
59
39
477
77.2%
15
1.3
$218,000
$219,000
Boulder City (700’s)
50
5
3
15
30.0%
67
3.3
$295,000
$295,000
TOTAL
3,536
343
261
2,998
84.8%
22
1.2
$183,724
$184,679
YTD AVG.
16,589
2,153
1,548 13,550
85.4%
26.8
1.3
$166,234
$165,624
Closed Properties in May 2013 Short Sale 1210 32.5%
Resale 2141 57.6%
NORTHWEST 401 - 405
RA NC H
NORTH 101-103
O
RTE IN
EAST 201-204
CHARLESTON
SOUTH 301-303
SOUTHWEST 501-505
EASTERN
INTERSTATE 15
REO 369 9.9%
BO UL DE R
HENDERSON 601-606 BOULDER CITY 701-702
Ticor Title of Nevada, Inc. ~ (702) 932-0777 CONDOMINIUM & TOWNHOUSE– TOWNHOUSE– MAY 2013 AREA
LISTED
SH SALE REO LISTED LISTED CLOSED % SOLD
DAYS ON MARKET
MONTHS SUPPLY
LIST PRICE (MEDIAN)
CLOSE PRICE (MEDIAN)
North
(101-103)
53
4
6
35
66.0%
14
1.5
$83,000
$83,000
East
(201-204)
164
23
14
84
51.2%
34
2.0
$54,950
$55,000
South
(301-303)
196
21
12
150
76.5%
25
1.3
$79,000
$79,750
NW
(401-405)
239
31
27
162
67.8%
19
1.5
$85,000
$85,500
SW
(501-505)
213
32
29
166
77.9%
20
1.3
$86,900
$86,050
Henderson (600’s)
143
20
13
116
81.1%
14
1.2
$106,450
$110,000
Boulder City (700’s)
15
2
1
9
60.0%
19
1.7
$76,000
$76,000
TOTAL
1,023
133
102
722
70.6%
21
1.4
$81,614
$82,186
YTD AVG.
4,841
735
600
2,961
60.2%
30
1.8
$80,200
$80,760
Information is deemed to be accurate but not guaranteed. Report includes resale homes, condominiums & townhomes only.
3,720 SINGLE FAMILY, CONDOS, & TOWNHOMES CLOSED IN MAY 2013. OF THESE, 2,150 WERE CASH TRANSACTIONS, 940 WERE CONVENTIONAL, 437 WERE FHA AND 121 VA FINANCING.
Cunningham Group @ RE/MAX Advantage 10075 South Eastern Ave. #103 Henderson, NV 89052
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Cunningham Group @ RE/MAX Advantage 10075 South Eastern Ave. #103 Henderson, NV 89052
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RE/MAX Advantage 10075 S. Eastern Ave #103 Henderson, NV 89052
OWNER TIPS
à
SHAWN: (702) 530-5002 Fax: (866) 220-3152 shawn@cgroupvegas.com
à
KYLE: (702) 530-5008 Fax: (866) 220-9014 kyle@cgroupvegas.com
By Kyle Cunningham
condition, regardless of the
remember that more than
horror stories about pets
existence of a pet. It is our
2/3 of potential tenants
destroying homes. In our
job to find the great tenants
have or will have a pet at
opinion, the damage a pet
so that you don't have to
some point. Automatically
can do to a rental is far
worry. Additionally, we
turning down applicants
more indicative of the
charge anywhere from
with pets can “significantly”
quality of the tenant we
$300 or more in additional
increase the amount of
find and NOT the pet. A
security deposit to allow
time your property sits on
great tenant will keep the
pets in rental properties.
the market.
There are a lot of
property in exceptional
Also, you should
Cunningham Group @ RE/MAX Advantage 10075 South Eastern Ave. #103 Henderson, NV 89052