Las Vegas, NV Area Pendings April 2010 Real Estate Market Report: Homes For Sale, Under Contract & SOLD!

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

The Las Vegas Valley (includes Henderson & North Las Vegas) has seen some major market stabilization in the last year!  Absorption for December 2009 is a seller's market with very little inventory.  Some micro-markets (ie,Foreclosures Bank Owned, REO) are extreme seller's markets where there is no mercy to the buyers, multiple offers are the norm!

Las Vegas Area Homes for Sale

Las Vegas Area Homes for Sale

Las Vegas Area Homes for Sale

We are FINALLY seeing a stabilization of inventory and a decrease with escrows (we should have seen that late spring/early summer!)  Good news for buyers?  Still remains to be seen.  We need to get over 10000 active units on the market before it can be stabilized from a seller's market 

Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas)

  • Listings (5/15/2010):  9554
  • Under Contract (5/15/2010):  16301
  • Sold April 2010:  3598

Short Sales:

  • 43% of Listings
  • 27% of Sales

REO (Foreclosures, Bank Owned:)

  • 19% of Listings
  • 45% of Sales

In One Month:  Listings are UP +252 units, Contracted Listings UP +514, Sales are DOWN -235 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!!

Last Month's Pending Report

The Most Current REO (Foreclosure) Report

The Most Current Short Sale Report

The Most Current Las Vegas Area Pendings Report

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

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Kenny Salame 05/15/2010 08:48 AM
Topic:
Real Estate Market Trends
Location:
Nevada Clark County Henderson Desert Cove Estates
Groups:
Market Updates
Nevada/Las Vegas REO, Fourclosure, Short Sale Specialist
City and State
Las Vegas Foreclosures - Homes, High-Rises-Condos
Market Reports
Tags:
las vegas listings
las vegas homes for sale
las vegas short sales
las vegas foreclosures
las vegas nv real estate
las vegas reo

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Rainmaker
1,883,547
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Renee

Nice to see you market making a much deserved transition, and turning for a more stable market.

May 15, 2010 08:09 AM #2
Rainmaker
1,331,888
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Renee - It's great news that the Las Vegas NV market is stabilizing.  Only if short sales closed faster those ratios would look even better.

May 15, 2010 01:28 PM #6
Rainmaker
325,771
Esko Kiuru
Bethesda, MD

Renee,

Short sales and REOs account for 72% of all sales, an unbelievable number.

May 15, 2010 03:32 PM #7
Rainmaker
937,152
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

I do like pie but the line graph stats really jumped out at me for this particular activity report.  Impressive!

May 16, 2010 04:18 AM #8
Ambassador
2,952,181
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

OMG!  I am positively GREEN with envy over your supply numbers!  Simply an amazing turn-around for you and I couldn't be happier for you. 

Enjoy your day...

May 16, 2010 06:02 AM #9
Ambassador
1,506,476
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Tom:  We are seeing inventory rise a bit in the aftermath of the tax credit buyers.  We need inventory !!

Michelle:  We are seeing a rise in % of short sales closing.  Just put out my sale types report!

Esko:  Unbelievably sick number that is!

Kevin:  Thanks!

Debe:  Be careful with what you wish for.  I do want some sellable inventory in our market.  Right now when you factor out short sales and overpriced listings, there is really nothing out there!  It is extremely difficult to get a buyer into a non-short sale escrow listing.  Many buyers are turning their head to new construction because that is a more sure thing & quicker than going into escrow with a short sale.

May 16, 2010 09:12 AM #10
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