Las Vegas Real Estate Market Stats!

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!

Las Vegas Market Stats

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!