Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are enjoying a HOT SELLER'S MARKET! Inventory has risen dramatically (+503 units), Pendings have risen DRAMATICALLY (+199 units.) Closing data is up up UP at + 268 units.
Inventory holding steady. Absorption rate is 2.8 months.
Current Listed Bank Owned Statistics:
- Listings (7/3/2007): 4633
- Under Contract (7/3/2007): 3496
- Sold 5/25-6/25/2008: 1680
- Absorption Rate: 2.8 Months
If you would like to buy a bank owned property call 702-966-2494, press option 1 and let us know what you are looking for. We will set you up on a search to have the new listings emailed to you as soon as they hit the market!
All statistical information I used to create this report was obtained from GLVAR MLS. Information Deemed Reliable but not Guaranteed.
Renee:an absortion rate of 2.8 months is a big improvement and not bad at all!!! Very encouraging.
Good for you Renee! We still have way too much inventory and not nearly enough sales. I don't see too much change until next spring/summer. Ouch!
Renee -- good info and nice graph that quickly communicates.
Wow, it is refreshing to see that your market is doing exceptionally well.
Renee,
Thanks for the post. It would appear that your the authority on Las Vegas REOs, way to go!
Lloyd: They fly off as quick as they come on the market right now. I have a little fear this won't be ending any time soon!
Susie: Unless you see some major price changes. That may bring some buyers into the market!
Kevin: Thank you!
Petra: Just the REO market and some niche areas with high REO stats. Not the entire market (which is moving into a stable market, but still..)
William: I wish!