Las Vegas, NV Area Pendings April 2010 Real Estate Market Report: Homes For Sale, Under Contract & SOLD!
Renee's Real estate evaluation on Las Vegas April Market....
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!
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!!
The Most Current REO (Foreclosure) Report
The Most Current Short Sale Report
The Most Current Las Vegas Area Pendings Report
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