I am a little behind with reporting the numbers but if you click below for most recent market report you will be surprised at March's numbers: ONLY 1.9 MONTHS INVENTORY! Inventory has fallen dramatically since last report (-595 units), Pendings have risen +1044 units Closing data is slightly up at +33 units. Low interest rates have spurred a flurry of buyer interest & activity this December and it continues. Foreclosures are showing NO signs of stopping!
REO sales accounted for 81.9% of all Las Vegas Area Valley resales in February 2009. REO listings account for only 34% of total resale listings.
Multiple offers are streaming in as banks continue to lower to fire and auction sale prices.
Current Listed Bank Owned Statistics:
- Listings (3/25/2009): 6642
- Under Contract (3/25/2009): 5343
- Sold February 2009: 2194
- Absorption Rate: 3.0 Months
To find the most recent report, click here
If you are thinking about buying an REO (Foreclosure or Bank Owned) property in the Las Vegas Area Please Call: 702-966-2494:
- Option 1 if you are a Buyer wanting to purchase REO Property.
- Option 3 if you are interested in Financing your REO Property (including down payment assistance for first time buyers)
- Option 4: Para español presione el cuatro.
All statistical information I used to create this report was obtained from GLVAR MLS. Information Deemed Reliable but not Guaranteed
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