Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are seeing some absorption!  Inventory has risen slightly (+158 units), Pendings have risen considerably (+174 units) and closings have gone up too (+76 units).  Monthly absorption rate down slightly by almost two months!

This market is swinging into a neutral seller's market and judging by the "multiple offer frenzy" the next month will be very interesting to say the least!! 

Current Listed Bank Owned Statistics:

  • Listings (12/26/2007): 2150
  • Under Contract (12/26/2007):  572
  • Closed (11/19-12/19/2007: 240
  • Absorption Rate:  9 Months Inventory
I am continuing my weekly market reports in this micro market because of the frenzy that is going on.

View Last Month's Report Here  

If you are considering buying in this submarket, beware that it is moving! 

If you are interested in buying REO bulk packages starting at 30 cents on the dollar, $7 million minimum, do not hesitate to contact me! 

All statistical information I used to create this report was obtained from GLVAR MLS.  Information Deemed Reliable but not Guaranteed.

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2 Comments on Las Vegas, NV REO Inventory Update January 2008: 7.3 Month's Inventory!

JAN
27
2008
215,178 Points 2 Featured Posts Outside Blog

Hi Renee..Looks like sales are picking up!!

Cheers, have a great day!
1:27pm • #1
131,109 Points 14 Featured Posts Outside Blog
I'm tired of showing homes that are colder inside than outside and outside is below freezing. Also, tired of trudging through the snow.
1:47pm • #2

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Renee Burrows - Las Vegas NV Valley - Homes For Sale - SRES - SRS - AHWD - ABR

Las Vegas, NV

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Encore Realty Group -Realtor>Estate>Probate>REO>Short Sale

Address: 7465 W Lake Mead # 100, Las Vegas, NV, 89128

Office Phone: (702) 966-2494 x 0

Cell Phone: (702) 580-1783

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