Henderson | Las Vegas | North Las Vegas NV July 2010 Pendings Report: Inventory is STILL Rising Rapidly

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

Las Vegas Area Homes for Sale

Las Vegas Area Homes for Sale

Las Vegas Area Real Estate Market Report and Absorption Rate

Las Vegas Real Estate Inventory is still increasing RAPIDLY.  It is rising so quick that I am bumping up my predictions that we will emerge from a seller market to a stable market in October (original prediction was November/December.) This may be due to the first time buyer's tax credit expiring.  This is also good news as we could emerge from the extreme seller's market that we have been in for over a year to a stable market in about 8 months (with a consistent increases like the ones we have seen this month.)  This will afford more opportunities for buyers to have less competition when placing offers in homes.

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

  • Listings (8/15/2010):  13902
  • Under Contract (8/15/2010):  13073
  • Sold July 2010:  3611

Short Sales:

  • 43% of Listings
  • 32% of Sales

REO (Foreclosures, Bank Owned:)

  • 20% of Listings
  • 44% of Sales

In One Month:  Listings are UP +2186 units, Contracted Listings DOWN -1555, Sales are DOWN -515 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

For Most Current Las Vegas Real Estate Inventory Market Report Click Here.

What Areas Do You Cover for your Las Vegas Area Real Estate Market Reports?

General Las Vegas Area Real Estate Market Reports are for MLS Areas 101-605 (the average consumer probably asks, what’s that?)  It means that I cover the cities of Las Vegas, Henderson, North Las Vegas including unincorporated Clark County Townships of Whitney, Paradise, Winchester, Enterprise, Sunrise Manor & Spring Valley.  They do NOT cover the areas of Boulder City, Pahrump, Laughlin, Moapa or Mesquite.

View More FAQ About My Las Vegas Area Real Estate Market Reports.

 

 

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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Rainmaker
419,413
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Renee, 

Interesting data. Ya'll seem to be on a see saw.  It will be nice to get back in balance in Atlanta, we have been  a buyer's market for 4 + years.  We have declining inventories, so I see us balancing out in the next 6 or so months.

All the best, Michelle

Aug 16, 2010 01:31 AM #1
Rainer
264,127
Bill Travis
Captain Bill Realty, LLC - Gilbert, AZ
Broker/Owner

Renee, that's when the listing agents will not only start answering their phone and emails, but they'll be calling us and begging us to give them feedback and bring them contracts.

Aug 16, 2010 01:55 AM #2
Rainmaker
2,981,843
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Renee, great report....I hope you have a great week/month/year!

Aug 16, 2010 02:40 AM #3
Rainmaker
124,101
Mary Ann Daniell Realtor
Coldwell Banker United, Realtors - Subsidiary of NRT LLC - Killeen, TX
Delivering Successful Results Since 1999

Sounds like things are improving nicely after such a rocky period   Look forward to your next update!

Aug 16, 2010 04:01 AM #4
Rainmaker
1,331,888
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Renee - I find it amazing that inventory is going up and it's still a seller's market in Las Vegas NV.

Aug 16, 2010 05:58 AM #5
Ambassador
1,507,202
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Michelle:  Awesome news for Atlanta!

Bill:  I already have that happening, LMAO!

Kristin:  U2!

Mary Ann:  The updates come all month long :)

Michelle:  That's how LITTLE inventory we were running on for so long!

Aug 16, 2010 11:26 AM #6
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