Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are seeing some absorption! Inventory has risen slightly (+161 units), Pendings have fallen slightly -77 units. Closing data is unavailable due to MLS changes (SORRY!) ALSO~ since these numbers were pulled (13 days ago) inventory has risen by 1000 units.
I would say with the current frenzy this is officially a seller's market.
Current Listed Bank Owned Statistics:
If you are considering buying in this submarket, beware that it is moving!
All statistical information I used to create this report was obtained from GLVAR MLS. Information Deemed Reliable but not Guaranteed.
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Renee has over 20 years of negotiating, sales and marketing experience to bring to your Las Vegas, NV Real Estate transaction. Full time with probate & estate experience!
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Renee, good to see a shift in your market with a current frenzy.
Renee-It's great to see an agent work so hard to provide great content on their blog. That's no doubt a recipe for success.
Ray: It has been loony here since the turn of the New Year, I saw this coming back in October!!! I am surprised at how quickly it turned!
JP: Thank you so much! Not too many of the masses appreciate market reports but they are essential. My clients need to know what is going on so they can be prepared psychologically to buy or sell.