Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are seeing some absorption! Inventory has risen slightly (+161 units), Pendings have fallen slightly -77 units. Closing data is unavailable due to MLS changes (SORRY!) ALSO~ since these numbers were pulled (13 days ago) inventory has risen by 1000 units.
I would say with the current frenzy this is officially a seller's market.
Current Listed Bank Owned Statistics:
- Listings (4/3/2007): 2377
- Under Contract (4/3/2007): 1033
- Closed: no data available until May Report
- Absorption Rate: No Data Available Until May Report
If you are considering buying in this submarket, beware that it is moving!
All statistical information I used to create this report was obtained from GLVAR MLS. Information Deemed Reliable but not Guaranteed.
Ray: It has been loony here since the turn of the New Year, I saw this coming back in October!!! I am surprised at how quickly it turned!
JP: Thank you so much! Not too many of the masses appreciate market reports but they are essential. My clients need to know what is going on so they can be prepared psychologically to buy or sell.