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

Reblogger
Mortgage and Lending with All Western Mortgage Broker # 14210

Renee's Real estate evaluation on Las Vegas April Market....

Original content by Renée Donohue~Home Photography 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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Posted by

         Kenny Salame                                                                                                  Equal Housing

Kenny Salame
Senior Loan Officer
All Western Mortgage Inc.
8345 W. Sunset Rd.
Suite 380
Las Vegas, NV, 89113
US                            
Mobile: 702--506-3301
Direct: 702-947-0609
Office: 702-369-0905
Fax: 702-952-0887
ksalame@allwesterm.com
 
 
 
 
 
 

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