April Real Estate sales take big drop

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It appears to be a tough spring for the real estate market in Mesquite as April real estate sales for 2016 took a precipitous fall compared to those recorded in April 2015.

Based on all sales including those in Sun City Mesquite, For Sale By Owner and bank-owned properties only 35 real estate transactions were recorded by the Clark County Assessor and Treasurer in the Mesquite and Bunkerville areas.

That compares to a whopping 127 transactions recorded a year earlier.

In April 2016, the assessor recorded transactions for 13 single family homes compared to 59 last year. The highest sales price was $1,287,372 for a home built in 2006 that has 2,428 square feet overlooking the Wolf Creek golf course. The lowest price recorded was $148,000 for an 1,182 square foot house built in 1990. Three homes in Sun City Mesquite changed ownership in April with the highest transfer value at $260,000 and the lowest at $188,632.

Only nine townhome transactions were recorded by the assessor this year compared to 24 transactions for townhomes in April 2015. The highest recorded transfer value was $189,000 for a townhome in Sunset Greens built in 2003 that’s 1,612 square feet. The lowest value was recorded at $90,100 for a 1,240 square foot townhome built in 1996 just off South Grapevine Road.

Condo sales in Mesquite fell by half year-over-year. In April 2015, 14 condos recorded a transfer while this year only seven did. The highest value recorded this year was $141,900 for a 1,328 square foot condo built in 1999. The lowest value was $69,000 for 996 square feet on a condo built in 1997.

One commercial property transaction was recorded in April in the Mesquite Technology and Commerce Center with a $799,000 transfer value.

We strongly encourage you to consult a professional real estate agent for more information and guidance about the real estate market, especially if you are buying or selling property. This information is not intended to equal the advice you can receive from a professional.

 

 

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