VegasRealEstatePros.com - Reference

April 2007 HotSpot Report                 Las Vegas Valley Market Conditions Report - April 19, 2007

The hot spot report is an excellent snapshot of real estate sales that occur in specific zip codes.This handy tool shows a quick an easy view of the Las Vegas real estate marketplace. According to the report, the most active zip code during January was 89031 with a total of #114 sales and an average sales price of $295K. Several zip codes, 89179, 89019 and 89025, didn’t see much activity during the month of January with only one or two sales during the entire month.

The hot spot report serves as a great tool for buyers who are thinking about purchasing in zip codes with high sales activity. Buyers can develop an informed negotiating strategy by using information contained in the hot spot report. When thinking about moving into an area where the activity is high, buyers demonstrate they are ready to complete a transaction by having a loan approval already prepared.

In those zip codes where sales activity is high, sellers will want to know buyers have a definite idea of how much they are willing to spend. This helps tremendously when negotiating favorable price and terms. On the other hand, buyers can be a bit more aggressive when thinking about purchasing in zip codes where the activity is low. Sellers in those zip codes that don’t get much activity may be somewhat more willing to sell at a discount. Discounting the price and asking for more favorable terms may be a better possibility when approaching sellers within zip codes where sales activity is low.

Check back periodically to review this monthly resource as we will provide continual updates according to market changes.

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