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

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

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.


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

 

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Comment balloon 8 commentsRenée Donohue • September 21 2010 01:16PM

Comments

You have only seven months of inventory?

Have price stabilized?

Posted by Jim Hale, Eugene Oregon's Best Home Search Website (ACTIONAGENTS.NET) about 8 years ago

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

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

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. 

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

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.

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

Hey Renee

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

Posted by Tom Braatz Waukesha County Real Estate 262-377-1459, Waukesha County Realtor Real Estate agent. SOLD! (Coldwell Banker) about 8 years ago

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

Posted by Ryan Case, 877-828-0710 (SCA Real Estate) about 8 years ago

Renee,

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

Posted by Esko Kiuru about 8 years ago

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!

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

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