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Southern Highlands July 2010 Real Estate Resale Market Report (Homes For Sale/Under Contract/Sold):
Since Last Month: Listings are UP +9, Pendings are DOWN -10, Sold Units DOWN -4.
Last Month's Southern Highlands Market Report
View Southern Highlands Homes For Sale Here (Updated Daily)
More Information on Southern Highlands Real Estate Here
More Las Vegas Communities Here
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13 comments • Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com • August 31 2010 07:33PMThis blog does not allow anonymous comments
Post © 2009 Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com (BrokerThe Force Realty-REALTOR-Estate-Probate-REO-Short Sale). Design © 2009 ActiveRain Corp.
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Renee- looks like LV is working thing out. Here's hoping you are on any side of the closed transactions
Renee-
Correct me if I'm wrong. This area has a 3-4 month inventory. Your text/chart says less than 6 months constitutes a sellers' market.
Would you characterize you current market as a seller's market? Would your buyers? Would your sellers?
I'm not trying to be picky. But it seems like something is inconsistent there.
BTW: based on my research here, I think for urban listings a seller's market doesn't really apply until the absorption rate falls below 4 months. For rural listings it would be more.
Renee, your market reports are outstanding!
Renee I agree with Rebecca. Your Market Reports does look outstanding. By the way didn't you write a tutorial on this before. And if you did,can you please share. I haven't written any Real Estate Market Reports blogs in a while and I LOVE THE WAY YOURS LOOK. Plus I want to re-do many if not all of my old ones. Thanks for sharing this. Great post.
Renee, After careful consideration I've decided to take a bigger piece of the pie.
Thanks for sharing,
Steve
Renee, it looks like your market is on the rebound!
Renee - Southen Highlands Las Vegas NV still appears to be a strong seller's market. Great report!
I hear all this doom and gloom about Las Vegas real estate but it looks like the amount of homes for sale has remained fairly consistent and not much fluctuation with sales or pendings which for the summer months is probably a good indicator.
Renee, I don't see that "seasonality" kicking in yet. That's good, I hope some jobs get to LV soon to shore up the whole process. Have a fabulous Labor Day weekend!
This was a hit!! Look at the re-blogs!! Good information.
Jim: In all the absorption classes I have been in for designations they declare anywhere from 5-7 months of inventory as a stable market so I call it six. We are moving into stable market territory right now as a city as a whole!
Lanre: I did do a re run on the tutorial just recently, email me if you want the link.
Carla: HA! One person must have hit the button too many times!
oh and thanks everyone else for the comments :)