About Las Vegas' C2 Lofts Summerlin

The absorption rate for Las Vegas Valley Area Short Sales is finally seeing movement. Absorption is moving to the stable market territory at only 7.8 months of inventory. Solds have FINALLY gone from hovering the 200 unit mark and went over the 500 mark. I see improvement in this sector! Inventory has decreased (-127 units). Pending units have increased by +539 units. Solds have increased by +101 units. Absorption down by 1.8 months

There are many reasons for the lack of closings in this market and it is outlined in this post.

Short Sale Synopsis:

• Listings 10/15/2009: 4591
• Pending 10/15/2009: 8559
• Closed September 2009: 592
• Month's Inventory: 7.8

Short Sales Currently Account for:

• 44% of All Las Vegas Valley Listings
• 14% of All Las Vegas Valley Sales
  

Read here for the most current Las Vegas Area Short Sale Report.

Read here for last month's report on Las Vegas Area Short Sales.

If you need to sell your home through the short sale process, you can either fill out the form on this page or you can call 702-966-2494 and press option 0.

Rentals:

• 341 Listed 1/25/2008
• 16 Under Contract 1/25/2008
• 45 Leased December 2008
• 7.6 Months Inventory

Resales:

• 887 Listed 1/25/2008
• 39 Under Contract 1/25/2008
• 24 Closed December 2008
• 37 Months Inventory (=3.1 years)
  

Rental inventory decreased from last month. Resale inventory also cut in half from last month. THis is how volatile this market is. Read last month's report here.

This report is compiled by using data from the GLVAR MLS. Data is gathered by the "VERTICAL" field and the "RESIDENTIAL" field using "CON" as subtype and "HIGHRIS,LOFTLIV,PENTHSE" equals any for building description. Information is deemed reliable but not guaranteed.

Read the most current market report for the Las Vegas High Rise Sector right here.

If you are thinking about buying or renting a high rise condominimum in the Las Vegas area, please call 702-966-2494. Press 1 if you are a buyer or press 2 if you are a renter. For financing options press option 3. For selling or leasing/property management press option 0. We will not list condos that have not yet closed with the builder or are not interested in contract reassignments. Para español presione el cuatro.