Las Vegas Market Stats
Tuesday, March 6, 2012 at 12:11PM Here are the market stats for last week in Las Vegas, NV!
8,177 available homes/condos/townhomes. This doesn't include land or multiple dwelling units.
42% are Short Sale listings.
16% are REO, or bank owned listings.
42% are Other, equity listings.
Last week 1,723 went into escrow, has an accepted contract.
47% are Short Sales.
31% are REO's.
22% are Other's.
Last Week there were 1,041 properties that Closed escrow!
31% were Short Sales.
39% were REO's.
30% were Other's.
Currently there is a less than 5 weeks supply of homes on the market. The inventory is trending downward which typically creates a rise in pricing. With interest rates still at all time lows, it's an awesome time to buy a house!
In February 3,640 homes Closed escrow, 47% of those were asking LESS THAN $100,000. Of that, 52% were REO's. Prices are low, inventory is lower and so are the interest rates.
The Market Stats posts are designed to help agents better understand the market. As agents we simply provide market information to our clients in ways that make sense to them.
How can you help your clients make an educated decision if you yourself are not educated?
Check out my weekly Market Stat update!