BluefoxToday blog : Las Vegas NV Area Market Watch March 2010

Las Vegas NV Area Market Watch March 2010

Las Vegas Area Real Estate Inventory

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 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-March 2010.

I do expect a frenzy of pendings & closes as the tax credits for first time buyers comes to a contracted halt at the end of April. Pendings have also begun their traditional "spring" rise.  Let the closings begin!


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

 

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Comment balloon 11 commentsRenée Donohue • April 23 2010 05:28PM

Comments

Hi Renee ... LOTS of info here and best of luck with the closings!!!!

Posted by Pippa Mac, The Woodlands TX Real Estate (Chevaux Group Realtor, The Woodlands and Spring) over 8 years ago

Hi Renee, you are the Graphic diva, you always come up with another great way to show what is going on in your market,  I love it, a lot of info at a glance.

Have a great weekend.

Posted by Debbie Aldrich, Salt Lake City Realtor - Salt Lake County, Cottonwood Heights (The Watts Group Real Estate ) over 8 years ago

You've earned a gold star Renee!  By my calculations your vacation can begin sometime in July of 2011.  Have a blast!    

Posted by Kevin J. May, Serving the Treasure & Paradise Coasts of Florida (Florida Supreme Realty) over 8 years ago

Renee - I love this graph, it definitely shows what direction the home sales in Las Vegas NV are going in.

Posted by Michelle Gibson, REALTOR (Hansen Real Estate Group Inc. ) over 8 years ago

Renee, it is so encouraging to see visually how your inventory has dropped while your pendings have risen. It is a good indication for Las Vegas NV real estate.

Posted by Sharon Alters, Realtor - Homes for Sale Fleming Island FL (Coldwell Banker Vanguard Realty - 904-673-2308) over 8 years ago

Renee - Woo hoo !  That chart says it all !  Congrats to all of those who have recently settled or are pending.  They will be very glad that they did 3 to 5 years from now.

Posted by The Somers Team, Real People. Real Dreams. Real Estate. (The Somers Team at RE/MAX Access) over 8 years ago

Renee, Very, Very appropriate, I love that line...Let The Closings Begin! Perfect. Mind if I use that? I had another in mind, but I like yours better.

Thank you

Posted by Scott Baker, Realtor Homes for Sale in Cincinnati, West Chester, Mason, OH Area (www.eHomeReports.com Coldwell Banker West Shell) over 8 years ago

Pippa:  Thanks!

Debbie:  It's so nice to see your face here!

Kevin:  SO I should reserve a little Ocean Hut in Bora Bora now?  LOL

Michelle:  Thanks!

Frank & Sharon:  Helps those that think they are the only buyers out there too :winkwinkwink:

Christopher & Stephanie:  I would like to think so!

Scott:  Knock your socks off and use that!

Posted by Renée Donohue, Las Vegas Real Estate Broker - www.urLVhome.com (Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate) over 8 years ago

Those numbers look very good for sellers, which is contrary to what I have heard about Vegas. 

Posted by Gene Riemenschneider, Turning Houses into Homes (Home Point Real Estate) over 8 years ago

Renee,

The red "under contract" bar keeps growing, and the green "sold" bar stretched a bit, too, from February. Good signs.

Posted by Esko Kiuru over 8 years ago

Thank you Renee, I will. Perfect.

Posted by Scott Baker, Realtor Homes for Sale in Cincinnati, West Chester, Mason, OH Area (www.eHomeReports.com Coldwell Banker West Shell) over 8 years ago

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