Las Vegas Real Estate Inventory has stabilized after the months of increase following the first time buyer's tax credit expiration. Against my predictions, we are still a seller's market after flirting with stable market territory for months. A quick glance of Aug 2011 sold numbers shows that sales will be almost as high as July when the final tally is settled.
Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas)
- Listings (8/15/2011): 13397
- Under Contract (8/15/2011): 13489
- Sold July 2011: 3928
Short Sales:
- 46% of Listings
- 21% of Sales
REO (Foreclosures, Bank Owned:)
- 24% of Listings
- 53% of Sales
In One Month: Listings are DOWN -337 units, Contracted Listings DOWN -13 units, Sales are DOWN -467 units. Close ratios are going lower because much of the pending inventory is short sales which requires LONGER close times.
DOWN PAYMENT ASSISTANCE HAS NOT ENDED FOR FIRST TIME BUYERS, HOWEVER!!
For Most Current Las Vegas Real Estate Inventory Market Report Click Here.
What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?
General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-606 (the average consumer probably asks, what’s that?) It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley. They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.
View More FAQ About My Las Vegas Area Real Estate Market Reports.
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