Nevada Real Estate >> Las Vegas Real Estate Specialist: Nevada: Las Vegas: Bradley Ranch

Las Vegas, NV Area August 2009 Pendings Report: Inventory Still Going Down, Pendings Still Going UP!

Las Vegas NV Real Estate

Las Vegas NV Homes For Sale

The Las Vegas Valley (includes Henderson & North Las Vegas) has seen some major market stabilization in the last year!  Absorption for August 2009 is a seller's market @ 2.8 months of inventory (slight rise from last month, seeing some micros inch up with 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! 

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

  • Listings (9/15/2009):  11018 (FOLKS THIS NUMBER DROPPED BELOW 11000 SINCE I PULLED STATS!) 
  • Under Contract (9/15/2009):  14577
  • Sold August 2009:  3992
  • Month's Inventory:  2.8

Short Sales:

  • 43% of Listings
  • 12% of Sales

REO (Foreclosures, Bank Owned:)

  • 22% of Listings
  • 72% 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 -550 units, pendings are up +836 units, closings are Down -551 units.  Close ratios are going lower because much of the pending inventory is short sales which requires LONGER close times. Pending inventories usually level late spring ~ FIRST TIME BUYERS WANT THEIR TAX CREDITS (must be in contract by Nov 1 and close by Dec 1) and INVESTORS ARE SEEING OPPORTUNITY!

 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 7 commentsRenée Burrows • September 17 2009 05:31PM
Las Vegas, NV Area August 2009 Pendings Report: Inventory Still Going…
share
The Las Vegas Valley (includes Henderson & North Las Vegas) has seen some major market stabilization in the last year! Absorption for August 2009 is a seller's market @ 2. 8 months of inventory (slight rise from last month, seeing… more