Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are seeing some absorption! Inventory has risen slightly (+158 units), Pendings have risen considerably (+174 units) and closings have gone up too (+76 units). Monthly absorption rate down slightly by almost two months!
This market is swinging into a neutral seller's market and judging by the "multiple offer frenzy" the next month will be very interesting to say the least!!
Current Listed Bank Owned Statistics:
- Listings (12/26/2007): 2150
- Under Contract (12/26/2007): 572
- Closed (11/19-12/19/2007: 240
- Absorption Rate: 9 Months Inventory
If you are considering buying in this submarket, beware that it is moving!
If you are interested in buying REO bulk packages starting at 30 cents on the dollar, $7 million minimum, do not hesitate to contact me!
All statistical information I used to create this report was obtained from GLVAR MLS. Information Deemed Reliable but not Guaranteed.
Hi Renee..Looks like sales are picking up!!
Cheers, have a great day!