With a big jump in properties that closed escrow in the Las Vegas Valley (320 more homes) this week, and only a handful of additional listings- this unique market still proves that HOMES ARE SELLING. The so-called “DEALS & STEALS” are becoming harder to come by.
As we inch nearer to the HOMEBUYER TAX CREDIT deadline, I expect to see an even larger surge in sales.
In my opinion, we’ve still got a long, steep road ahead of us here in Las Vegas. We’re going to see a lot more sellers opting to sell their homes as SHORT SALES. We’re going to see a lot more REO’s (bank owned properties) hit the market. But, as recovery goes, we’ve got to get the mess we’re in cleaned up, and this is how it’s going to happen. Every time a “distressed” property is listed and ultimately sold, we are one step closer to the upward turn…
With that being said, here’s a bird’s eye look at last weeks numbers:
Data provided for week of 2/22/10 through 2/28/10 in Greater Las Vegas Valley.
ACTIVE Single Family Residence (SFR): 17,586 (+9 from last week)
(includes ALL Active & Contingent Listings)
ACTIVE Condominiums/ Townhomes (C/T): 4,117 (+8 from last week)
(includes ALL Active & Contingent Listings)
ACTIVE SFR & C/T
Only Short Sales: 13,895 (+46 from last week)
Only REO (Real Estate Owned- Bank Foreclosures): 3,208 (+11 from last week)
PENDING SFR: 2,301 (-114 from last week)
PENDING C/T: 555 (-51 from last week)
SOLD SFR (2/22- 2/28): 631 (+240 from last week)
SOLD C/T(2/22- 2/28): 166 (+80 from last week)
SOLD SFR & C/T
Only Short Sales:191 (+92 from last week)
Only REO (Real Estate Owned- Bank Foreclosures): 429 (+173 from last week)
Information provided by GLVAR. Deemed Reliable. Not Guaranteed.
As always, if you have any questions about selling or purchasing a home in the Las Vegas Valley, please give me a call-
I WOULD LOVE TO EARN YOUR BUSINESS!
Talk Soon,
Heidi Griffith
Your Las Vegas Realtor® for Life!
Realty One Group
702-540-0420
