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Las Vegas NV Area June 2010 Short Sale Inventory Report: WOW! WOW! WOW! CLOSED UNITS JUMP

By
Services for Real Estate Pros with Savvy Home Pix B.1000860.LLC

Las Vegas Area Short Sale Homes for Sale

Las Vegas Area Short Sale Real Estate Market Report & Absorption Rate

The absorption rate for Las Vegas Valley Area Short Sales is finally seeing movement. Inventory has INCREASED by +672 units.  Under Contract has DECREASED by -925 units.    Sold units have INCREASED by +377 units.

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

Short Sale Synopsis:

  • Listings 7/15/2010: 5231
  • Pending 7/15/2010: 10460
  • Closed June 2010: 1416

Short Sales Currently Account for:

  • 45% of All Las Vegas Valley Listings
  • 35% of All Las Vegas Valley Sales 

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.

Posted by

Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

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Comments (4)

Erika Rogers
Red Rock Real Estate ~ Southern Utah's Largest Independent Brokerage - Saint George, UT
St George Utah Real Estate & Relocation Specialist

Looks like good news for the Vegas market!  We could sure use some:)

Jul 16, 2010 10:48 AM
Claude Cross
Homes By Cross, Inc. - Charlotte, NC
Charlotte NC Homes For Sale

Renee - Forclosures are down here. Here's hoping we all are bouncing from the bottom. I have had a very busy 4 months. Hope you are experiencing increased volume

Jul 16, 2010 11:45 AM
Esko Kiuru
Bethesda, MD

Renee,

Obviously lenders and servicers are finally seeing the benefits of the short sale. Absorption rate is now pointing heavily towards a seller's market.

Jul 19, 2010 08:32 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

thanks for all the comments everyone!

Aug 20, 2010 01:16 AM