Real Estate Blog - Las Vegas, NV Area Short Sale September 2009 Inventory Update

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Las Vegas, NV Area Short Sale September 2009 Inventory Update

Las Vegas Area Short Sale Homes For Sale

The absorption rate for Las Vegas Valley Area Short Sales is finally seeing movement. Absorption is moving to the stable market territory at only 7.8 months of inventory. Solds have FINALLY gone from hovering the 200 unit mark and went over the 500 mark. I see improvement in this sector! Inventory has decreased (-127 units). Pending units have increased by +539 units. Solds have increased by +101 units. Absorption down by 1.8 months

There are many reasons for the lack of closings in this market and it is outlined in this post .

Short Sale Synopsis:

Listings 10/15/2009: 4591
Pending 10/15/2009: 8559
Closed September 2009: 592
Month's Inventory: 7.8

Short Sales Currently Account for:

44% of All Las Vegas Valley Listings
14% of All Las Vegas Valley Sales

Read here for the most current Las Vegas Area Short Sale Report.

Read here for last month's report on Las Vegas Area Short Sales.

If you need to sell your home through the short sale process, you can either fill out the form on this page or you can call 702-966-2494 and press option 0.

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Posted by Renee Burrows - Las Vegas NV Valley - Homes For Sale - SRES - SRS - AHWD - ABR on 10/19/2009 06:47 AM

Comments (5)

Short Sales in the Real Estate Market Channel

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Originally posted at: Nevada Real Estate >> Las Vegas Real Estate Specialist: Las Vegas, NV Area Short Sale September 2009 Inventory Update

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5 Comments on Las Vegas, NV Area Short Sale September 2009 Inventory Update

OCT

Renee, I am happy to see your inventory starting to move as much of it is Short Sales, the more S. S. we get off our books the quicker our economy will begin to recover and we can see our markets get back to a normal apperciation rate. Ours have been moving but closings slowed down in the last 3 months as it did for everyone with banks over loaded. Have a great Day!

Renee - This looks like a good sign for you. How long will it take before short sales are not a normal transaction? I'm ready

Renee

Outside of Bank of America I see some lenders being more pro-active these days. How is north Las Vegas short sales comparing with south Las Vegas short sales. I think rebounding is not too far off in some areas of this country.