The absorption rate for Las Vegas Valley Area Short Sales appears to be swinging from a neutral market back to a buyer's market as fall approaches. Inventory has DECREASED by -182 units. Under Contract has INCREASED by +143 units. Sold units have INCREASED by +46 units.
There are many reasons for the lack of closings in this market and it is outlined in this post.
Short Sale Synopsis:
- Listings 9/15/2011: 6021
- Pending 9/15/2011: 8434
- Closed August 2011: 1014
Short Sales Currently Account for:
- 46% of All Las Vegas Valley Listings
- 22% of All Las Vegas Valley Sales
Read here for last month's report on Las Vegas Area Short Sales.
Most Current Market Report For Short Sales
Information About the Short Sale Process for Las Vegas Area Short Sale Buyers & Sellers
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 101-606 (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.
Renee - Las Vegas short sales are still a large part of your market i see. I love that keyword rich title and all those great links.
Renee,
Great LV market report. Your clients can always count on you for compehensive straight forward Las Vegas real estate market information.
Steve
Neutral to buyers, interesting. As usual your market reports are comprehensive; your clients should be proud that you have taken the time to be the market expert.
You do a great job with your market reports. Your clients are fortunate to have you as their agent.
Renee, this is a great short sale report. You're the expert when it comes to Las Vegas Nevada real estate!
Excellent short sale market report, it is always good that the inventory is tighten and sales activity is up.
Renee - I always like comparing the Wellington short sale market to the Las Vegas short sale market. Great report!
Renee thank you for sharing. Great market report.
Thank you everyone for the comments!