Nevada Real Estate >> Las Vegas Real Estate Specialist: Nevada: Las Vegas: Arby Condo

Las Vegas NV Area February 2009 REO Inventory Update

Las Vegas Area REO Homes For Sale

I am a little behind with reporting the numbers but if you click below for most recent market report you will be surprised at March's numbers:  ONLY 1.9 MONTHS INVENTORY!  Inventory has fallen dramatically since last report (-595 units), Pendings have risen +1044 units  Closing data is slightly up at +33 units.   Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.   Foreclosures are showing NO signs of stopping!

REO sales accounted for 81.9% of all Las Vegas Area Valley resales in February 2009.  REO listings account for only 34% of total resale listings.

Multiple offers are streaming in as banks continue to lower to fire and auction sale prices.

Current Listed Bank Owned Statistics:

  • Listings (3/25/2009): 6642
  • Under Contract (3/25/2009): 5343
  • Sold February 2009:  2194
  • Absorption Rate:  3.0 Months

View Last Month's Report Here  

To find the most recent report, click here

If you are thinking about buying an REO (Foreclosure or Bank Owned) property in the Las Vegas Area Please Call:  702-966-2494:

All statistical information I used to create this report was obtained from GLVAR MLS.  Information Deemed Reliable but not Guaranteed


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 5 commentsRenée Burrows • April 15 2009 07:52AM
Las Vegas NV Area February 2009 REO Inventory Update
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I am a little behind with reporting the numbers but if you click below for most recent market report you will be surprised at March's numbers: ONLY 1. 9 MONTHS INVENTORY! Inventory has fallen dramatically since last report (-595 units),… more