The Las Vegas residential resale real estate market experienced itâ€™s 12th month consecutive decline on inventory in December 2011! Â I am expecting to see continued declines and inventory shortages until things get smoothed out with AB 284.
Las Vegas area is still a sellerâ€™s market and our pendings level is slightly higher than the active level. Â Our absorption rate is under 3 months of inventory which indicates a strong sellerâ€™s market.
TheÂ Las Vegas REO (foreclosures,Â bank owned) sector remains a EXTREME sellerâ€™s market below 2 months of inventory & theÂ Las Vegas Short SaleÂ sector is emerging from a stable market to a seller’s market with a decrease of inventory.
Las Vegas HomeÂ Sales were strong with 3784 units sold in November.
Cash sales still dominate theÂ Las Vegas sold termsÂ with 50% of the homes selling with cash vs financed offers (VA/FHA/Conventional.)
Rhodes Ranch AreaÂ â€“ this community is special and my favorite so it gets itâ€™s â€œOWNâ€ Market Report.
Las Vegas Area Market ActivityÂ â€“ shows general Las Vegas Market Activity, Trends & Absorption
Las Vegas Area Sales by TypeÂ â€“ Four Graphs to Show Las Vegas Area Sales Trends.Â See what percentage of Las Vegas Area Sales are Short Sales, REO (bank owned) & Standard Sales!
Las Vegas Area Sold TermsÂ â€“ Various Graphs and Charts that show what percentage of homes were Cash only or Financed.Â Financed homes divided by Cash, Conventional, FHA or VA.
Las Vegas Area Concession StandÂ â€“ Shows what percentage of concessions (or closing costs) sellers are giving buyers.
Las Vegas Area REO or Bank Owned HomesÂ â€“ Comprehensive Reports on Las Vegas Area REO including financing profiles by price pointÂ and absorption rate.
Las Vegas Area Short Sale HomesÂ â€“ Comprehensive Reports Detailing Short Sale Listing, Contract & Sold Stats.Â Includes Absorption Rate.
Enjoy and feel free to ask questions about these reports or trends right here
Latest posts by Renee Burrows (see all)
- Home Is Possible – Nevada Home Buyer Grant Zero Down! - December 9, 2016
- Home Inspection Repair Response – Dos & Don’ts - September 17, 2015
- 2 Simple Ways to Save Money NOW On Your Electric Bill - October 7, 2014
- Ikea’s Famous Cinnamon Rolls, Swedish Meatballs, Gadgets and Furniture Coming to Las Vegas - July 17, 2014
- Homes Still Appreciating in Las Vegas June 2014 - July 17, 2014