Las Vegas NV Area Market Watch September 2012 (includes Henderson & North Las Vegas)

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

Las Vegas Homes For Sale

**RESALE HOME INVENTORY RISES (slightly) in LAS VEGAS AFTER FALLING 17 CONSECUTIVE MONTHS!!!**

We are still squeezed for inventory.  New REO listings are few and far between thanks to AB 284 with currently no end to that drama in sight.  Multiple offers on well priced homes are widespread. Everyone from first time buyers to investors are taking advantage of "opportunity".

Read more about Las Vegas Real Estate Inventory Analysis here and consumers may comment on this post.

Las Vegas Area Real Estate Market Watch was created for informational purposes only.

This is for all the buyers wondering "where is the inventory"? The inventory is here, this graph shows that buyer interest is extremely high and gobbling up all that new inventory coming online!

This is also for people saying "shadow inventory exists"! Well I believe it exists but it also exists in Las Vegas short sales which has tripled to quadrupled it's formerly stagnant close ratio since late spring.

These are Listing/Under Contract & Pending/Sold Trends from December 2007-August 2012.

Contracted closings are stalled because of the large amount of Las Vegas short sales that are contracted.

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

 

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Ambassador
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Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Luxury Division Specialist

We are not seeing it yet.  We are down to less than 3 months now in most areas and some less than 1. 

Sep 27, 2012 11:45 AM #1
Rainmaker
3,479,301
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Morning Renee...I love your inventory watches...I hope you have a wonderful weekend too!

Sep 27, 2012 11:24 PM #2
Rainmaker
750,148
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Renee, great market report as always! I closed on my client's home last week and they live in Henderson. Small world!

Sep 28, 2012 03:06 AM #3
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Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Renee  I am sure your recent market stats are well received

Sep 28, 2012 07:22 AM #4
Rainmaker
1,343,790
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Renee - It is so great that Las Vegas real estate continues to be gobbled up and hopefully price increases are starting to take place too.

Sep 30, 2012 11:12 PM #5
Rainmaker
1,964,444
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Renee

Wow, that is a lot of pendings. Hope you are lighting the world on fire

Oct 02, 2012 06:19 AM #6
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Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Thank you all for the comments!

Oct 27, 2012 08:08 AM #7
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