BluefoxToday blog : Las Vegas NV Area Real Estate Market Watch (includes Henderson & North Las Vegas)

Las Vegas NV Area Real Estate Market Watch (includes Henderson & North Las Vegas)

Las Vegas Homes For Sale

**ACTIVE Las Vegas Real Estate Inventory Rises for the Sixth Straight Month!**

Active Las Vegas Residental Resale MLS Inventory has risen for the third straight month.  This is mainly due to first time buyers exhausting the market due to their tax credit expiring - this is not due to the shadow inventory fairy bringing us more inventory!

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-September 2010.

Contracted closings are stalled because of the large amount of Las Vegas short sales that are contracted.  Inventory rise is directly related to the tax credit expiring.


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

 

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Comment balloon 14 commentsRenée Donohue • October 18 2010 09:15AM

Comments

Great info Renee...I know I always say this,but you ROCK at graphing and making the info clear and easy to read/understand!

Posted by Kristin Johnston - REALTOR®, Giving Back With Each Home Sold! (RE/MAX Realty Center ) almost 8 years ago

What Kristin said! You ROCK. Folks just call Renee already. You know you want to move. You know you need a good Realtor to get your home sold. You know Renee can do it. Call her NOW.

Posted by Craig Rutman, Raleigh, Cary, Apex area Realtor (Helping people in transition) almost 8 years ago

Wow! A very telling graph, Renee. With the high-buyer interest, I’m curious whether you’re also seeing home prices rise.

Posted by Bill Burchard, Broker, Realtor, Representing Buyers and Sellers (3B Realty: 951-347-3818, CA) almost 8 years ago

It's (un)funny how sales look constant but inventory and pendings vary so widely.

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

Renee

Lots of inventory, but the solds surely picked up in June to August 2010

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

Renee - Wow, listings are starting to climb again in Las Vegas NV, but it also appears a lot of homes are still going under contract and selling.

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

Renee:

I think the market has a head ache. I hope that the credit structure gets changed before we get the flu.

Posted by Richard Stabile, Bergen County New Homes Builder Realtor (Re/Max Real Estate Limited) almost 8 years ago

You have the best graphics!  Very interesting.  I love your area.  Can't wait to get back out there!

Posted by Ron Marshall, Birdhouse Builder Extraordinaire (Marshall Enterprises) almost 8 years ago

Renee, quite a high number of pending sales.  I can only guess that a large number are short sales awaiting an answer.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) almost 8 years ago

Your UC's are keeping pace with the new inventory I see, at least from June on, stay strong Renee!

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

Renee  The width of the pending area looks encouraging  - your eports set the standars for excellence

Posted by Karen Kruschka, - "My Experience Isn't Expensive - It's PRICELESS" (RE/MAX Executives) almost 8 years ago

Hi Renee inventory up but sales too.  Things will turn around. Our inventory up here too and it has been quieter than  normal.  Love your graphs

Posted by Pat Laracy Baker, Realtor, Green, ABR, Holliston, Massachusetts (Realty Executives Boston West) almost 8 years ago

Renee,

The green sold bars have held rather steady for a few months now, hopefully they will start growing soon.

Posted by Esko Kiuru almost 8 years ago

Thanks all 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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