Las Vegas Real Estate Inventory is seeing a major decrease as the aftermath of NV AB 284. Active listings are down again for the 14th month in a row! 2012 will be another interesting year for Las Vegas Real Estate!
Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas)
- Listings (2/15/2012): 9180
- Under Contract (2/15/2012): 13373
- Sold January 2012: 3483
Short Sales:
- 45% of Listings
- 28% of Sales
REO (Foreclosures, Bank Owned:)
- 19% of Listings
- 48% of Sales
In One Month: Listings are DOWN -1266 units, Contracted Listings UP +993 units, Sales are DOWN -615 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!!
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 101-606 (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.
Active listings down, under contract up, and sales steady, that's a good market. It look like Las Vegas has really turned around.
I love it! Colorful & informative as always, Renee. I love the absorption rate for the entire city though. Good idea lady!
And again, another area of LV with less than 3 months of inventory. This market must be the coolest place to work right now.
Renee - Wow, inventory in Las Vegas has definitely declined in the past year and looks like it's going to continue on that path.
Renee,
REOs and short sales still amount to about three 4ths of the entire market and if I recall those numbers have been around there for a while. Must be a bunch of underwaters still alive.
Thank you everyone for the great comments!