Monday, August 6, 2012 at 1:45PM Here are this weeks market stats!
3,902 available! 9% REO, 23% Short Sale, 68% Private
1,023 went into escrow! 15% REO, 49% Short Sale, 36% Private
694 closed escrow! 17% REO, 43% Short Sale, 40% Private
Last week (with month end included) there were 110 non REO, non Short Sale Expireds!
Tuesday, July 31, 2012 at 11:50AM Here are the stats for this week in Las Vegas!
Available: 3,952- 9% REO, 23% SS, 68% Private
In Escrow Last Week: 964- 16% REO, 51% SS, 33% Private
Closed Escrow Last Week: 670- 20% REO, 44% SS, 36% Private
There were 48 homes that X'd in the MLS that were not Short Sales or REO's!
As of today we have a 4 week supply of homes on the market, so, if not one more home because available, it would take only 4 weeks to sell our current inventory!
Tuesday, July 24, 2012 at 12:21PM Here they are! I've noticed that the inventory is etching up-just a little!!!!!
Available: 3,880. 9% REO, 24% Short Sale, 67% Equity
Escrow Last Week: 964. 18% REO, 49% Short Sale, 33% Equity
Closed Last Week: 565. 20% REO, 42% SS, 38% Equity
Last week there were 49 homes that Expired from the MLS that were not Short Sales and were not REO's!
Monday, July 16, 2012 at 12:45PM Here are stats for this week!
3,871 Available! Of those; 9% are REO's, 26% are Short Sales and 65% are Equity.
985 went in P, C status last week! Of those; 15% were REO, 49% were Short Sale, 36% were Equity.
493 Closed Escrow! Of those; 19% were REO, 39% were Short Sales, 42% were Equity!
Only 43 non-short sale, non-REO homes expired from the MLS last week!
Also, some interesting numbers in REO: There are only 358 available (an increase from last week) AND, there is only a 2.4 weeks supply of bank owned homes. They are still coming on the market but are flying off the shelves!
Monday, July 9, 2012 at 11:50AM I've been tracking our market and the the stats for years now. It's a pretty simple process that takes all of about 15 minutes of my day on a Monday. It's in my calendar. I'm not a "numbers" person, I'm not the "analytical" type. Most effective sales people aren't. I learned early on that this isn't about being the "numbers" guy, this is about knowing what you're up against. Knowing how to pull your market stats and use them to help buyers and sellers make the best decisions they can about saving money and making money. I mean, knowing your market is right up there with knowing how to protect your client in negotiations.... and, the truth is, you may not ever get that far if you aren't savvy on the market-I mean, who wants to work with someone who has no idea about the conditions??? Maybe this is just me on my soap box (again)....
At any rate, week after week, I hear stories from agents who follow my market stats religiously about how they used the stats to get a Buyer off the fence... to help the Seller list at a realistic price, all of which caused the client to make more money, save more money, get the house they wanted, move out of the house they were done with.
Here are the stats for today! I hope you use them and I hope they help you. If you need help on scripts when utilizing these numbers then give me a call or enter your information on the right hand side of this page. I'd be more than happy to sit down with you and show you how to use this information to increase your bottom line.
This Week:
3,755 Available SFR. Of that; 9% are bank owned, 24% are short sales and 67% are equity/other.
Last Week:
Only 839 homes went into escrow. Of that; 21% were bank owned, 48% were short sales and 31% were equity/other.
There were only 346 homes that closed escrow. Of that; 24% were bank owned, 38% were short sales and 38% were equity/other.
The inventory seems to be pretty stable at around 3,800 for the past several weeks. I'm noticing a decline in accepted offers and closings week to week.
Something else to notice, last week there were only 34 homes that Expired (Failed to Sell) that were not bank owned and not short sales. This number is usually about 80 for the week. Less homes are expiring.. are the selling or sitting? Equity accounts for nearly 70% of the available market... yet only 38% of what is closing. It's the same only reverse for bank owneds...ONLY 9% of the available market and 24% of the closings.
It's not easy out there. But it's totally doable. There are people that have been selling real estate for 30 years.. they've made it through 18% interest rates, the boom of 2003 and the fall thereafter. It's knowing the market and adjusting your skill level to make it work.
It's the difference between real estate being a hobby or a business. Which is it for you?
