Nevada Real Estate >> Las Vegas Real Estate Specialist: Nevada: Henderson: Carriage Lane

Las Vegas, NV Area October 2009 Pendings Report: Pendings DROP, Inventory DOWN, Closes HAPPENING

Las Vegas Area Homes For Sale - Pending - Sold

The Las Vegas Valley (includes Henderson & North Las Vegas) has seen some major market stabilization in the last year!  Absorption for November 2009 is a seller's market @ 2.7 months of inventory.  Some micro-markets (ie,Foreclosures Bank Owned, REO) are extreme seller's markets where there is no mercy to the buyers, multiple offers are the norm!

We are FINALLY seeing a stabilization of inventory and a decrease with escrows (we should have seen that late spring/early summer!)  Good news for buyers?  Still remains to be seen.  We need to get over 10000 active units on the market before it can be stabilized from a seller's market 

Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas)

  • Listings (12/15/2009):  10332
  • Under Contract (12/15/2009):  14136
  • Sold November 2009:  3774
  • Month's Inventory:  2.7

Short Sales:

  • 43% of Listings
  • 17% of Sales

REO (Foreclosures, Bank Owned:)

  • 22% of Listings
  • 63% of Sales

The above breakdown shows how very few short sales are being closed and how little inventory is in the REO market currently. 

In One Month:  Listings are DOWN -61 units, pendings are DOWN -473 units, closings are DOWN -554 units.  Close ratios are going lower because much of the pending inventory is short sales which requires LONGER close times. 

 DOWN PAYMENT ASSISTANCE HAS NOT ENDED FOR FIRST TIME BUYERS, HOWEVER!!

Last Month's Pending Report

The Most Current REO (Foreclosure) Report

The Most Current Short Sale Report

The Most Current Las Vegas Area Pendings Report


Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

copyright 2006-2013 Renee Burrows, REALTOR®, Savvy Home Realty Solutions  702-966-2494

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Comment balloon 7 commentsRenée Burrows • December 15 2009 08:22PM
Las Vegas, NV Area October 2009 Pendings Report: Pendings DROP,…
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The Las Vegas Valley (includes Henderson & North Las Vegas) has seen some major market stabilization in the last year! Absorption for November 2009 is a seller's market @ 2. 7 months of inventory. Some micro-markets (ie… more