The absorption rate for Las Vegas Valley Area Short Sales appears to be swinging from a neutral market back to a seller's market as the new yeaer approaches. Active Listing Inventory has DECREASED by -337 units. Under Contract has DECREASED by -59 units. Sold units have INCREASED by +78 units.
There are many reasons for the lack of closings in this market and it is outlined in this post.
Short Sale Synopsis:
- Listings 1/15/2012: 4935
- Pending 1/15/2012: 8383
- Closed December 2011: 1099
Short Sales Currently Account for:
- 47% of All Las Vegas Valley Listings
- 27% of All Las Vegas Valley Sales
Read here for last month's report on Las Vegas Area Short Sales.
Most Current Market Report For Short Sales
Information About the Short Sale Process for Las Vegas Area Short Sale Buyers & Sellers
What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?
General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-606 (the average consumer probably asks, what’s that?) It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley. They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.
View More FAQ About My Las Vegas Area Real Estate Market Reports.
MOrning Renee....wow, can you believe 50 percent are short sales still? Wonder when that will turn around...
Morning ShackDiva ! Terrific presentation in your market report. Very engaging and cool layout !
Hi Renee,
Especially like your Google maps.
Thank you all for the comments!