Las Vegas, NV Area January 2009 Pendings Report: UP UP UP

The Las Vegas Valley (includes Henderson & North Las Vegas) has seen some major market stabilization in the last year! Absorption for January 2009 is a healthy 7.7 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:

(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
• Under Contract (3/20/2008): 4516
• Sold February 2008: 1318
• Month's Inventory: 17.2

(Mar/April 2008) All SFR, Townhome, Condo Listings:

• Listings (4/16/2008): 21983
• Under Contract (4/16/2008): 5390
• Sold March 2008: 1747
• Month's Inventory: 12.6

(April/May 2008) All SFR, Townhome, Condo Listings:

• Listings (5/13/2008): 21236
• Under Contract (5/13/2008): 6283
• Sold April 2008: 2063
• Month's Inventory: 10.3

(May/June 2008) All SFR, Townhome, Condo Listings:

• Listings (6/12/2008): 20674
• Under Contract (6/12/2008): 6847
• Sold May 2008: 2418
• Month's Inventory: 8.6

(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, Townhome, Condo Listings:

• Listings (10/5/2008): 20795
• Under Contract (10/5/2008): 6793
• Sold August 2008: 2893
• Month's Inventory: 7.2

(Sept/Oct 2008) All SFR, Townhome, Condo Listings:

• Listings (11/14/2008): 21540
• Under Contract (11/14/2008): 6414
• Sold September 2008: 3115
• Month's Inventory: 6.9

(Oct/Nov 2008) All SFR, Townhome, Condo Listings:

• Listings (11/14/2008): 21540
• Under Contract (11/14/2008): 6414
• Sold October 2008: 3084
• Month's Inventory: 7.0

(Nov/Dec 2008) All SFR, Townhome, Condo Listings:

• Listings (12/11/2008): 21715
• Under Contract (12/11/2008): 6320
• Sold November 2008: 2539
• Month's Inventory: 8.3

(Dec2008/Jan 2009) All SFR, Townhome, Condo Listings:

• Listings (1/12/2009): 21034
• Under Contract (1/12/2009): 6099
• Sold December 2008: 2900
• Month's Inventory: 7.0

(Jan/Feb 2009) All SFR, Townhome, Condo Listings:

• Listings (2/15/2009): 20201
• Under Contract (2/15/2009): 7291
• Sold January 2008: 2620
• Month's Inventory: 7.7

Short Sales:

• 36% of Listings
• 8% of Sales

REO (Foreclosures, Bank Owned:)

• 35% of Listings
• 82% of Sales

In a Little Over One Month: Listings are down -833 units, pendings are up +1192 units, closings are Down -280 units and absorption is up slightly. Sales are expected to be slightly down during winter months. Pending inventory is rising at a phenomenal pace. Compare this to last year's pendings!!

DOWN PAYMENT ASSISTANCE HAS NOT ENDED FOR FIRST TIME BUYERS, HOWEVER!!

Last Month's Report

If you are thinking about buying a home in the Las Vegas Area Please Call: 702-966-2494:

• Option 1 if you are a Buyer wanting to purchase a home.
• Option 3 if you are interested in Financing your home - (including down payment assistance for first time buyers)
• Option 0 if you are interested in selling your Las Vegas Area home.
• Option 4: Para español presione el cuatro.