Nevada Real Estate >> Las Vegas Real Estate Specialist: Nevada: Henderson: Cobblestone

Las Vegas, NV Area January 2010 Pendings Report: Spring Season IS IN FULL SWING! Contracted Listings Up +845 in one month!

Las Vegas Area Homes For Sale - Pending - Sold

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 December 2009 is a seller's market @ 3.2 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 (2/15/2010):  10211
  • Under Contract (2/15/2010):  14086
  • Sold January 2010:  3148
  • Month's Inventory:  3.2

Short Sales:

  • 47% of Listings
  • 22% of Sales

REO (Foreclosures, Bank Owned:)

  • 17% of Listings
  • 60% 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 -213 units, Contracted Listings UP +845, Sales are DOWN - 987 units.  December's sales were unusually high and January's numbers are still higher than last January.  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

Blog Disclaimer Important Notice

Realtor/MLS Member, NAR, NVAR, GLVARAccredited Buyer's RepresentativeSeller Representative SpecialistSenior Real Estate SpecialistAt Home with DiversityResort & Second Home Property SpecialistShort Sale Foreclosure Resource

 

 

 

Sell Las Vegas Home          Las Vegas Homes for Sale     Las Vegas Rental House

              

 

 

 

Comment balloon 10 commentsRenée Burrows • February 18 2010 05:52PM
Las Vegas, NV Area January 2010 Pendings Report: Spring Season IS IN…
share
The Las Vegas Valley (includes Henderson & North Las Vegas) has seen some major market stabilization in the last year! Absorption for December 2009 is a seller's market @ 3. 2 months of inventory. Some micro-markets (ie… more