This is 2 weeks in a row that I've slacked off and didn't give you all your Las Vegas stats. I have to apologize, but this week has been extremely busy for me, which is a good thing!
Anyway, this is going to work out. We'll get to see the stats just before the end of the month and I'll run the numbers again on about Tuesday to see how much things change.
The REOs are still pulling strong numbers over 17% of the sales over the last 30 days have been REO according to the MLS. But...I think that number is much higher, The only way to discern that a property is an REO is by looking for REPO in the property description. I'll tell you that just looking through the MLS (a lot) doing my BPOs that probably 30-60% of the time REPO is not indicated in the MLS. Now, I don't believe it's "required" to put REPO in the property description if it's an REO, but it sure would help me get the numbers right! I would definitely say that REO sales are more like 20% and maybe even up to 25% of the total sales occuring now.
Well, Here are the rest of your stats:
|Lowell Caro, Jr. Your Real Estate Market Advisor|
|Weekly MLS Market Snapshot|
|As of COB: Thursday 29 Nov, 07 @ 9:30 pm|
|Condo Townhome Inventory||5,628||3,184||56.57%|
|Total Contingents and Pending||2,307||1,714||74.30%|
|Short Sales (EA/ER)||4,179||1,746||41.78%|
|Repos (estimated EA/ER)||2,122||N/A|
|Total Sold in last 30 Days||1,233||903||73.24%|
|Sold short sales||79||6.41%|
|Months of inventory at current rate of consumption (29,665/1,233)||24.05920519|