In my previous post about the northwest Las Vegas real estate market, I showed sales price, volume, and financing trends. Today I'll look closer at the different types of listings in that market -- REOs (bank owned homes), short sales, and regular sales.

Generally, there are about 2.6 months of northwest Las Vegas real estate inventory. Further examination will show that there are three distinct markets. Here are the current figures for northwest Las Vegas REOs, northwest Las Vegas short sales, and 'regular' northwest Las Vegas home sales.

Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/August Sales = Absorption Rate). There are about three weeks of REO inventory, and over 8 1/2 months of short sales.

Distressed properties (REOs and short sales) represent 62% of the available inventory ...

... and make up 88% of the homes in escrow.

To find out more about buying or selling real estate in northwest Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.

(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 401-405.)