Nevada Real Estate >> Las Vegas Real Estate Specialist: Nevada: Las Vegas: Aventine

Las Vegas NV Area June 2009 REO Inventory Update: Not Much Out There (less than one month inventory!)

Las Vegas Area REO Listings, Pendings & Sold Market Report

Inventory has fallen since last report (-188 units), Pendings have dropped -647 units  Closing data is up dramatically at +383 units.   Low interest rates have spurred a flurry of buyer interest & activity this December and it continues.  

REO sales accounted for 76% of all Las Vegas Area Valley resale closings in June 2009.  REO listings account for only 23% 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 (7/16/2009): 2758
  • Under Contract (7/16/2009): 5471
  • Sold June 2009:  3530
  • Absorption Rate:  0.8 Months (THATS LESS THAN ONE MONTH = VERY LITTLE INVENTORY)

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

DISCLAIMER:  The information, photographs & content  contained within Renee Burrows' blog is the property of Renee Burrows.  You must obtain written permission from Renee Burrows or use the Active Rain "reblog" function and reblog the post in  its entirety without revision if you would like to use any of this content.  Opinions expressed are those of Renee Burrows may not necessarily be opinions of past and present brokers.  Many articles may be time and date sensitive so please always look at the date posted.  For most current brokerage and contact information, refer to my Active Rain profile.


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 6 commentsRenée Burrows • July 17 2009 08:50PM
Las Vegas NV Area June 2009 REO Inventory Update: Not Much Out There..
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Inventory has fallen since last report (-188 units), Pendings have dropped -647 units Closing data is up dramatically at +383 units. Low interest rates have spurred a flurry of buyer interest & activity this December and it… more