Las Vegas Real Estate Inventory is still increasing RAPIDLY. It is rising so quick and I predict that we will emerge from a seller's market to stable market territory in the next month or two. This is more than likely due to the first time buyer's tax credit expiring. This will afford more opportunities for buyers to have less competition when placing offers in homes.
Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas)
- Listings (11/15/2010): 15597
- Under Contract (11/15/2010): 12436
- Sold October 2010: 3252
- 49% of Listings
- 28% of Sales
REO (Foreclosures, Bank Owned:)
- 21% of Listings
- 45% of Sales
In One Month: Listings are UP +502 units, Contracted Listings DOWN -516, Sales are DOWN -188 units. Close ratios are going lower because much of the pending inventory is short sales which requires LONGER close times.
For Most Current Las Vegas Real Estate Inventory Market Report Click Here.
What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?
General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-606 (the average consumer probably asks, what’s that?) It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley. They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.
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