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Las Vegas NV Area Market Watch January 2012 (includes Henderson & North Las Vegas)

Las Vegas Homes For Sale

**Inventory Continues to Plunge Down in January!!!**

We are still squeezed for inventory.  New REO listings are few and far between thanks to AB 284 with currently no end to that drama in sight.  Multiple offers on well priced homes are widespread. Everyone from first time buyers to investors are taking advantage of "opportunity".

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-November 2011.

Contracted closings are stalled because of the large amount of Las Vegas short sales that are contracted.


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

 

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Comment balloon 6 commentsRenée Donohue • January 28 2012 11:27AM

Comments

That is an area I have had my eye on I know there are phenomenal deals and I may be edging closer to nabbing one of them

Posted by David Shamansky, Creative, Aggressive & 560 FICO - OK, Colorado Mtg (US Mortgages - David Shamansky) over 6 years ago

Renee: Incredibly good information anyone looking to jump into the Las Vegas real estate market can use.  If you're not in the market you are getting left behind...call Renee Burrows today and see what she can do for you!

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (ColdwellBanker SSK Realtors ~ 478.960.8055) over 6 years ago

Renee,

Our listings are at a 5 year low here in Anne Arundel County, MD. We need some inventory to breath new life into a robust market.

Rich

Posted by Richard Iarossi, Crofton MD Real Estate, Annapolis MD Real Estate (Coldwell Banker Residential Brokerage) over 6 years ago

Rene - Great, local real estate market report.  You've given both buyers and sellers a lot of good information to use.  I really like your first graph with solds, under contracts and active listings.  Nicely done!

Posted by Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com, Tahoe Real Estate Agent Helping Buyers and Sellers (Coldwell Banker, Tahoe City, CA (530) 414-1260) over 6 years ago

Great looking report. I have also seen our inventory come down over the last 9 months or so. It's a good sign things are on the rebound.

Posted by Lyn Sims, Schaumburg IL Real Estate (RE/MAX Suburban) over 6 years ago

Thank you all for the comments!  Inventory has fallen EVEN further since last month.  It's VERY crazy here right now!

Posted by Renée Donohue, Las Vegas Real Estate Broker - www.urLVhome.com (Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate) over 6 years ago

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