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>>DALE: Good afternoon. This is Dale Snyder with The Snyder Group at Keller Williams Realty
Las Vegas. As some of you know, we specialize in the Summerlin area and most of the team
actually lives in Summerlin. So it truly makes sense "Summerlin experts."
We focus on the selling and the buying side, you might see our open house signs in the
area. Today's point is to go over the sales summary for the Summerlin area as a whole
for 2011. So just you know I pulled Summerlin West, Summerlin, Sun City Summerlin, and I
also include Red Rock Country Club, which technically isn't in Summerlin but I mean
it's pretty much in the Summerlin area.
So what we've got here, and let me make notes here. You can go to DaleSnyder.net/communities/Summerlin
to stay up to date on what's going on in the Summelrin area.
For 2011, we saw 1,690 sales, of those 483 were short sales, 482 are REOs. REOs are bank-owned
inventory, bank-owned property. So a total of 965 distressed, means short sales and REOs
were sold in Summerlin, which makes up 57% of the inventory for the Summerlin area, which
probably comes as no surprise to any of you we're in a pretty distressed market. You know,
prices are so low there's just amazing value and we have a lot of investors capitalizing
on them. That's another video for a later day.
Statistical breakdown of this data. Only 277 of the approximately 1,690 sales were above
$400,000. You know, hence the investors. They're usually buying the cheapest homes in the Summerlin
area because they cashflow with those.
The average price per square foot in Summerlin, sales price, was a $113 a foot. The average
sales price $306,000 and the median was $200,000. Median meaning half the sales were above 200,
and half were below.
I hope this information is valuable to you. As I said, we do specialize in the Summerlin
area. So this is Dale Snyder with The Snyder Group at Keller Williams Realty.
You have a fantastic day.