Las Vegas, NV Area December 2008 Area Pendings Report: Absorption Down a Smidge
By Renée Donohue~Home Photography, Western Michigan Real Estate Photographer
(Savvy Home Pix)
The Las Vegas Valley (includes Henderson & North Las Vegas) has seen some major market stabilization in the last year! Absorption for December 2008 is a healthy 7.0 months of inventory (compare it to 22.5 months inventory in Nov/Dec 2007!) Be warned, the market as a whole is considered a "neutral market" ~ not a buyer's market, not a seller's market. Some micro-markets (ie,Foreclosures Bank Owned, REO) are extreme seller's markets where there is no mercy to the buyers, multiple offers are the norm! Here is a snapshot of valley listings: (Jan/Feb 2008) All SFR, Townhome, Condo Listings: Listings (2/10/2008): 23665 Under Contract (2/10/2008): 3107 Sold January 2008: 1164 Month's Inventory: 20.3 (Feb/Mar 2008) All SFR, Townhome, Condo Listings: Listings (3/20/2008): 22,644 Unde...
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