The Las Vegas Valley (includes Henderson & North Las Vegas) has seen some major market stabilization in the last year! Absorption for March 2009 is a healthy 5.1 months of inventory (compare it to 22.5 months inventory in Nov/Dec 2007!) 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!
Here is a snapshot of valley listings:
(Feb/Mar 2008) All SFR, Townhome, Condo Listings:
- Listings (3/20/2008): 22,644
- Under Contract (3/20/2008): 4516
- Sold February 2008: 1318
- Month's Inventory: 17.2
(Mar/April 2008) All SFR, Townhome, Condo Listings:
- Listings (4/16/2008): 21983
- Under Contract (4/16/2008): 5390
- Sold March 2008: 1747
- Month's Inventory: 12.6
(April/May 2008) All SFR, Townhome, Condo Listings:
- Listings (5/13/2008): 21236
- Under Contract (5/13/2008): 6283
- Sold April 2008: 2063
- Month's Inventory: 10.3
(May/June 2008) All SFR, Townhome, Condo Listings:
- Listings (6/12/2008): 20674
- Under Contract (6/12/2008): 6847
- Sold May 2008: 2418
- Month's Inventory: 8.6
(June/July 2008) All SFR, Townhome, Condo Listings:
- Listings (7/15/2008): 20744
- Under Contract (7/15/2008): 7092
- Sold June 2008: 2588
- Month's Inventory: 8.0
(July/Aug 2008) All SFR, Townhome, Condo Listings:
- Listings (8/16/2008): 20559
- Under Contract (8/16/2008): 7070
- Sold July 2008: 3034
- Month's Inventory: 6.8
(August/Sept 2008) All SFR, Townhome, Condo Listings:
- Listings (10/5/2008): 20795
- Under Contract (10/5/2008): 6793
- Sold August 2008: 2893
- Month's Inventory: 7.2
(Sept/Oct 2008) All SFR, Townhome, Condo Listings:
- Listings (11/14/2008): 21540
- Under Contract (11/14/2008): 6414
- Sold September 2008: 3115
- Month's Inventory: 6.9
(Oct/Nov 2008) All SFR, Townhome, Condo Listings:
- Listings (11/14/2008): 21540
- Under Contract (11/14/2008): 6414
- Sold October 2008: 3084
- Month's Inventory: 7.0
(Nov/Dec 2008) All SFR, Townhome, Condo Listings:
- Listings (12/11/2008): 21715
- Under Contract (12/11/2008): 6320
- Sold November 2008: 2539
- Month's Inventory: 8.3
(Dec2008/Jan 2009) All SFR, Townhome, Condo Listings:
- Listings (1/12/2009): 21034
- Under Contract (1/12/2009): 6099
- Sold December 2008: 2900
- Month's Inventory: 7.0
(Jan/Feb 2009) All SFR, Townhome, Condo Listings:
- Listings (2/15/2009): 20201
- Under Contract (2/15/2009): 7291
- Sold January 2008: 2620
- Month's Inventory: 7.7
(Feb/Mar 2009) All SFR, Townhome, Condo Listings:
- Listings (3/25/2009): 19377
- Under Contract (3/25/2009): 8923
- Sold February 2009: 2678
- Month's Inventory: 7.2
(Mar/Apr 2009) All SFR, Townhome, Condo Listings:
- Listings (4/14/2009): 17846
- Under Contract (4/14/2009): 10068
- Sold March 2009: 3525
- Month's Inventory: 5.1
Short Sales:
- 37.5% of Listings
- 6.3% of Sales
REO (Foreclosures, Bank Owned:)
- 32.9% of Listings
- 81.2% of Sales
In a Little Under One Month: Listings are down -1491 units, pendings are up +1145 units, closings are Up +847 units and absorption is up slightly. Sales are expected to be slightly down during winter months. Pending inventory is rising at a phenomenal pace. Compare this to last year's pendings!!
DOWN PAYMENT ASSISTANCE HAS NOT ENDED FOR FIRST TIME BUYERS, HOWEVER!!
If you are thinking about buying a home in the Las Vegas Area Please Call: 702-966-2494:
- Option 1 if you are a Buyer wanting to purchase a home.
- Option 3 if you are interested in Financing your home - (including down payment assistance for first time buyers)
- Option 0 if you are interested in selling your Las Vegas Area home.
- Option 4: Para español presione el cuatro.
