Las Vegas, NV Area July 2009 Pendings Report: No Improvement with Inventory for Buyers!
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 July 2009 is a seller's market @ 2.5 months of inventory (compare it to 22.5 months inventory in Nov/Dec 2007!) 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: (June/July 2008) All SFR, Townhome, Condo Listings: Listings (7/15/2008): 20744 Under Contract (7/15/2008): 7092 Sold June 2008: 2588 Month's Inventory: 8.0 (July/Aug 2008) All SFR, Townhome, Condo Listings: Listings (8/16/2008): 20559 Under Contract (8/16/2008): 7070 Sold July 2008: 3034 Month's Inventory: 6.8 (August/Sept 2008) All SFR, Town...