Las Vegas, NV Area Short Sale December 2009 Inventory Update

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

Las Vegas Area Short Sale Homes For Sale

The absorption rate for Las Vegas Valley Area Short Sales is finally seeing movement.  Absorption is moving to the stable market territory at only 5.9 months of inventory.  Solds have FINALLY gone from hovering the 200 unit mark and near the 800 units mark.  I see improvement in this sector! Inventory has increased by +260 units.  Under Contract has decreased by -99units.    Solds have increased by +149 units.

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

Short Sale Synopsis:

  • Listings 1/15/2010: 4735
  • Pending 1/15/2010: 8917
  • Closed December 2009: 794
  • Month's Inventory: 5.9

Short Sales Currently Account for:

  • 45% of All Las Vegas Valley Listings
  • 19% of All Las Vegas Valley Sales
     

Read here for the most current Las Vegas Area Short Sale Report.

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®
 

 

copyright 2006-2013 Renee Burrows, REALTOR®, Savvy Home Realty Solutions  702-966-2494

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Ambassador
3,086,169
Anna Banana Kruchten CRS CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Ahhh yes  very attractive and easy to read chart!  You knew I'd love it!!!!  Has your months of inventory gone down - seems like it has.

Jan 17, 2010 10:55 AM #1
Rainmaker
175,237
Richard Stabile
Re/Max Real Estate Limited - Oradell, NJ
Bergen County New Homes Builder Realtor

Renee:

That is something, so many shorts in contract. The sold part is disappointing. Do you think many are going to get to closing?

Jan 17, 2010 11:12 AM #2
Ambassador
772,799
The Somers Team
The Somers Team at KW Philadelphia - Philadelphia, PA
Delivering Real Estate Happiness

Renee - Great stats... very interesting with all this data... and very encouraging !  Hopefully those deals will settle !

Jan 17, 2010 11:41 AM #3
Rainmaker
1,062,544
Fred Carver Personal Real Estate Corporation
RE/MAX Camosun Victoria BC Real Estate - Victoria, BC
Accredited Real Estate Consultant

Hi Renee...look at all those Pending sales !! Now go out and put up a lot more Sold Signs this week!

Jan 17, 2010 12:10 PM #4
Rainmaker
1,343,790
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Renee - It's great that shorts sales in Las Vegas NV are finally starting to close, 800 units?  That's awesome.

Jan 18, 2010 12:36 PM #5
Rainmaker
1,967,525
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Renee,

Holy cow; that's a lot of short sales there my friend.

Jan 18, 2010 01:26 PM #6
Rainmaker
325,921
Esko Kiuru
Bethesda, MD

Renee,

Nice jump on the solds for December. If we can keep that up, it would be nice.

Jan 19, 2010 09:46 AM #7
Ambassador
1,513,387
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Anna Banana:  YES it has gone down and I knew you would like the charts!!

Richard:  I do believe more will be closing.  It seems many have gone through the loan mod process or through state mediation and they were told short sale was their only or best options!

Christopher & Stephanie:  If we can get a 30-40 % settlement ratio, I could live with that!

Fred:  I put up one already and it's only Tuesday ;)

Michelle:  Definitely better than 200 units!

Tom:  A lot, pretty much the only inventory selection at the time!

Esko:  wouldn't that be great to get some of these buyers sold?

Jan 19, 2010 01:04 PM #8
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