About Las Vegas' Luxe Lofts

**Inventory Continues to Plunge Down in November!!!**

We are still squeezed for inventory. Multiple offers on well priced homes are widespread. Everyone from first time buyers to investors are taking advantage of "opportunity".

Read more about Las Vegas Real Estate Inventory Analysis here and consumers may comment on this post.

Las Vegas Area Real Estate Market Watch was created for informational purposes only.

This is for all the buyers wondering "where is the inventory"? The inventory is here, this graph shows that buyer interest is extremely high and gobbling up all that new inventory coming online!

This is also for people saying "shadow inventory exists"! Well I believe it exists but it also exists in Las Vegas short sales which has tripled to quadrupled it's formerly stagnant close ratio since late spring.

These are Listing/Under Contract & Pending/Sold Trends from December 2007-November 2011.

Contracted closings are stalled because of the large amount of Las Vegas short sales that are contracted.

Las Vegas High Rise Rentals:

• 243 Listed 3/15/2010
• 22 Under Contract 3/15/2010
• 44 Leased February 2010
• 5.5 Months Inventory

Las Vegas High Rise Resales:

• 570 Listed 3/15/2010
• 305 Under Contract 3/15/2010
• 62 Closed February 2010
• 9.2 Months Inventory
  

This Market is extremely volatile due to the boutique nature and lack of financing. 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. 12/3/2009 NOTE: The high rise portion of the RESIDENTIAL field is being phased out into the VERTICAL field currently. Information is deemed reliable but not guaranteed.

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