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Real Estate Henderson Nevada - Henderson, Nevada Real Estate Market Overview

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While much of the country has experienced a meltdown of their housing markets, the hardest hit area of the country has been the sun belt states of the Arizona, Nevada, Florida, and California. The Henderson, Nevada real estate market, which is located just south of Las Vegas, is no exception to this rule. Since the boom and the bust of the real estate market has taken place, the Henderson, Nevada real estate market has been hit extremely hard.

In the early 2000s Henderson and the rest of the Las Vegas metro area was one of the fastest growing cities in the country. Along with the housing boom, this caused prices to rise out of control. From early 2004 until 2007, the median sales price in the Henderson, Nevada real estate market increased from around $275,000 to well over $350,000. While prices exploded in Henderson, the gains quickly turned to losses as the Henderson, Nevada real estate market turned for the worse in early 2007. Since then prices have plummeted in Henderson. While the price now appear to be stable, the median sales price is less than $200,000.

Not helping the Henderson, Nevada real estate market is the high rate of foreclosures in the city. In February of 2010, 1 in every 90 households in the Henderson, Nevada real estate market received a notice of default. This makes the Henderson, Nevada real estate market one of the worst markets in the country when it comes to foreclosures. Presently, the median listing price of foreclosed homes is around $175,000. If these low prices happen to lead to a large level of investor demand, then the residents in the Henderson, Nevada real estate market could expect their housing prices to fall even farther.

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