BluefoxToday blog : Las Vegas NV Area Pendings Report for January 2012 (includes Henderson & North Las Vegas)

Las Vegas NV Area Pendings Report for January 2012 (includes Henderson & North Las Vegas)

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 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!!

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 101-606 (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.


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

 

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Comment balloon 6 commentsRenée Donohue~Home Photography • February 25 2012 08:19AM

Comments

Active listings down, under contract up, and sales steady, that's a good market.  It look like Las Vegas has really turned around.

Posted by Bryan Robertson, Broker, Author, Speaker (Intero Real Estate) over 6 years ago

I love it! Colorful & informative as always, Renee.  I love the absorption rate for the entire city though.  Good idea lady!

Posted by Kristin Moran, San Antonio,TX - Real Estate - 210-313-7397 (Owner - RE/MAX Access - KristinMoran@Remax.net) over 6 years ago

And again, another area of LV with less than 3 months of inventory.  This market must be the coolest place to work right now.

Posted by Florida Tolbert Team Keller Williams Advantage, Keller Williams Land Division Specialist (Keller Williams Advantage III Realty in Lake Nona) over 6 years ago

Renee - Wow, inventory in Las Vegas has definitely declined in the past year and looks like it's going to continue on that path.

Posted by Michelle Gibson, REALTOR (Hansen Real Estate Group Inc. ) over 6 years ago

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.

Posted by Esko Kiuru over 6 years ago

Thank you everyone for the great comments!

Posted by Renée Donohue~Home Photography, Western Michigan Real Estate Photographer (Savvy Home Pix) over 6 years ago

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