Las Vegas, NV Area January 2010 Pendings Report: Spring Season IS IN FULL SWING! Contracted Listings Up +845 in one month!
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 2009 is a seller's market @ 3.2 months of inventory. 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! We are FINALLY seeing a stabilization of inventory and a decrease with escrows (we should have seen that late spring/early summer!) Good news for buyers? Still remains to be seen. We need to get over 10000 active units on the market before it can be stabilized from a seller's market Las Vegas Area Market Activity (Includes North Las Vegas, Henderson and Las Vegas) Listings (2/15/2010): 10211 Under Contract (2/15/2010): 14086 Sold January...