Photos from John Novak - Las Vegas and Henderson NV Real Estate
The pool and surrounding area at the Red Rock Resort in Summerlin are luxuriously landscaped.Located in: Summerlin (Las Vegas, NV)
In a recent post we looked at sales price, volume, and financing trends in the east Las Vegas real estate market. Today we'll focus in on the parts of that market -- REOs (bank owned homes), short sales, and regular sales.
At first glance, it seems like we have just 1.8 months of east Las Vegas real estate inventory. Looking at each type of listing, three distinct markets emerge. Here are the current figures for east Las Vegas REOs, east Las Vegas short sales, and 'regular' east Las Vegas home sales.
Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/August Sales = Absorption Rate). There are only 2-3 weeks of REO inventory, but over nine months of short sales.
Distressed properties (REOs and short sales) account for 73% of the available inventory ...
... and make up 89% of our current escrows.
To find out more about buying or selling real estate in east Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.
(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 201-204.)
Last week we examined some general trends in the Central Las Vegas real estate market. Today we'll focus in on the components of that market -- REOs (bank owned homes), short sales, and regular sales.
On the surface, it looks like we have about 2.5 months of inventory for central Las Vegas. But when we look at the details, three distinct markets emerge. Here are the current figures for central Las Vegas REOs, short sales, and 'regular' home sales.
Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/August Sales = Absorption Rate). We have about three weeks of REO inventory, and over seven months of short sales.
Distressed properties (REOs and short sales) account for 58% of our available inventory ...
... but make up 89% of the current escrows
To find out more about buying or selling real estate in central Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.
(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 301-303.)
In my previous post about the northwest Las Vegas real estate market, I showed sales price, volume, and financing trends. Today I'll look closer at the different types of listings in that market -- REOs (bank owned homes), short sales, and regular sales.
Generally, there are about 2.6 months of northwest Las Vegas real estate inventory. Further examination will show that there are three distinct markets. Here are the current figures for northwest Las Vegas REOs, northwest Las Vegas short sales, and 'regular' northwest Las Vegas home sales.
Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/August Sales = Absorption Rate). There are about three weeks of REO inventory, and over 8 1/2 months of short sales.
Distressed properties (REOs and short sales) represent 62% of the available inventory ...
... and make up 88% of the homes in escrow.
To find out more about buying or selling real estate in northwest Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.
(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 401-405.)
In a recent post we examined sales price, volume, and financing trends in the southwest Las Vegas real estate market. Today we'll focus on the parts of that market -- REOs (bank owned homes), short sales, and regular sales.
At first glance, it seems like we have just under three months of southwest Las Vegas real estate inventory. Looking closer, we see that each type of listing has a distinct market. Here are the current figures for southwest Las Vegas REOs, southwest Las Vegas short sales, and 'regular' southwest Las Vegas home sales.
Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/August Sales = Absorption Rate). There are only 2-3 weeks of REO inventory, but over eight months of short sales.
Distressed properties (REOs and short sales) represent 61% of the available inventory ...
... and make up an amazing 91% of our current escrows.
To find out more about buying or selling real estate in southwest Las Vegas, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.
(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 501-505.)
Last week we looked at general trends in the Henderson Nevada real estate market. Today we'll explore the components of that market -- REOs (bank owned homes), short sales, and regular sales.
On the surface, it appears that we have about 3.3 months of Henderson real estate inventory. A closer look reveals three distinct markets. Here are the September figures for Henderson REOs, Henderson short sales, and 'regular' Henderson home sales.
Absorption is the number of months it would take to sell the available inventory at current sales rates. (Available Inventory/August Sales = Absorption Rate). We have less than one month of REO inventory, and over seven months of short sales.
Distressed properties (REOs and short sales) make up 52% of our available inventory ...
... but account for 88% of the current escrows.
To find out more about buying or selling real estate in Henderson Nevada, just give me a call at (702) 339-9700, or email me at JohnNovak@kw.com.
(GLVAR deems information reliable but not guaranteed. Data is for MLS areas 601-606.)
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Real estate agent at Keller Williams Realty serving residential buyers and sellers in Las Vegas, Henderson, North Las Vegas and Boulder City, Nevada. Visit www.JohnSellsHenderson.com.
Have questions about buying or selling a home in Las Vegas, Henderson or North Las Vegas? I can help.
The GRI designation indicates to buyers, sellers and other real estate industry professionals that I have made the commitment to provide a high level of professional service to my clients by securing a strong educational foundation. Completing the designation required 96 hours of classroom instruction plus passing six exams. Subjects covered included contract law, professional standards, sales and marketing, and finance.
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