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

Las Vegas Short Sale Closings Increasing: 2009 vs 2010

Originally Posted at Las Vegas Real Estate - Communities - Homes for Sale

Las Vegas Area Short Sale Closings are beginning to take a larger slice of the pie and we have seen a dramatic shift over the last year!

Here is last year’s graph:

Sales by Type Las Vegas short sales

Here is this year’s graph:

Sales by Type Las Vegas Short Sales 2010

As you can see short sales became a popular alternative after recycled REO inventory is getting gobbled up by very high buyer demand.  Las Vegas Area Short Sale Closings only owned around 10% of the market share last year vs 32% today.

Short sale closings in July of 2009 recorded at only 458 closes where in July 2010 there were 1148 units closed.  Don’t be fooled though, there are just more listings and contracted listings.

The “OTHER” category (mostly standard sales) has also risen from 15% sold a month to 24% sold due to the popularity of the trustee sale flip (homes that have been foreclosed on but purchased by investors rather than going “back to the bank”.)

Las Vegas Area Active listings are rising due to tax credit expiration so if you have been waiting to jump in the buyer pool you may want to start considering doing so now :)


Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

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Comment balloon 19 commentsRenée Burrows • September 30 2010 11:04AM
Las Vegas Short Sale Closings Increasing: 2009 vs 2010
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Originally Posted at Las Vegas Real Estate - Communities - Homes for Sale Las Vegas Area Short Sale Closings are beginning to take a larger slice of the pie and we have seen a dramatic shift over the last year! Here is last year’s… more