Las Vegas | Henderson | North Las Vegas August 2010 Residential Resale Pendings Real Estate Activity

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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 and I predict that we will emerge from a seller's market to stable market territory in the next month to three months. This is more than likely due to the first time buyer's tax credit expiring.  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 (9/15/2010):  14087
  • Under Contract (9/15/2010):  13547
  • Sold August 2010:  3518

Short Sales:

  • 49% of Listings
  • 31% of Sales

REO (Foreclosures, Bank Owned:)

  • 20% of Listings
  • 45% of Sales

In One Month:  Listings are UP +185 units, Contracted Listings UP +474, Sales are DOWN -93 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.

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

 

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Las Vegas Foreclosures - Homes, High-Rises-Condos
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Show All Comments
Rainmaker
596,893
Jim Hale
ACTIONAGENTS.NET - Eugene, OR
Eugene Oregon's Best Home Search Website

You have only seven months of inventory?

Have price stabilized?

Sep 21, 2010 08:24 AM #1
Rainmaker
976,217
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

That would be my concern also Renee.  Can your pricing remain intact without too much of a hit while this is occurring? 

Sep 21, 2010 09:28 AM #2
Rainer
104,743
Debbie Aldrich
The Watts Group Real Estate - Cottonwood Heights, UT
Salt Lake City Realtor - Salt Lake County, Cottonwood Heights

Renee,

A stable market would be great.  Short Sales that are time intensive, kind of through the stats off. Let's hope buyers start keep up that inventory. 

Sep 21, 2010 01:02 PM #3
Rainer
104,743
Debbie Aldrich
The Watts Group Real Estate - Cottonwood Heights, UT
Salt Lake City Realtor - Salt Lake County, Cottonwood Heights

Renee, FYI, I am finally getting close to reach that mile stone 100,000.  I took a break for a few months but back in action and thing I should make that by tomorrow.  Have a great evening.

Sep 21, 2010 01:23 PM #4
Rainmaker
1,899,959
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Hey Renee

I see those pendings are rising like crazy. You are the real estate agent to see in Las Vegas.

Sep 21, 2010 02:25 PM #5
Rainer
163,254
Ryan Case
SCA Real Estate - Anaheim, CA
877-828-0710

Wow! What a ton of pending properties! Looks like your market is stabalizing :)

Sep 21, 2010 06:30 PM #6
Rainmaker
325,771
Esko Kiuru
Bethesda, MD

Renee,

Short sales and REOs together make up a whopping 76% of total sales. These numbers need to come down.

Sep 27, 2010 08:23 AM #7
Ambassador
1,507,822
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Jim:  Four months of inventory and prices have been stable for 18 months but some areas have begun to decline due to rising inventory.  Seatbelts on!

Everyone else:  Thanks for comments!

Oct 22, 2010 04:06 AM #8
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