Las Vegas Real Estate Market Report: 09/18/09

This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (National Association of Residential Real Estate Investment Advisors). For the week of September 16, 2009, data is obtained from the Greater Las Vegas Association of Realtors MLS.

Single Family Residence (SFR)
Available 8,461 (-175 , Last Week 8,636)
Under Contract 11,764 (+322 , Last Week 11,442)
Days of Supply 22 (-1 , Last Week 23)
Short Sales 10,025 (+128 , Last Week 9,897)

Condominiums and Town Homes (CONDO/TH)
Available 2,588 (-72 , Last Week 2,660)
Under Contract 2,838 (+74 , Last Week 2,764)
Days of Supply 27 (-2 , Last Week 29)
Short Sales 2,734 (+31 , Last Week 2,703)

Combined SFR + CONDO/TH
Available 11,049 (-247 , Last Week 11,296)
Under Contract 14,602 (+396 , Last Week 14,206)
Days of Supply 23 (-1 , Last Week 24)
Short Sales 12,759 (+159 , Last Week 12,600)

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Excerpted from a RealtyTrac.com report:

Nevada Reports a Four percent increase from June - Foreclosure rate remains highest in the nation

Nevada reported 19,535 properties with foreclosure filings for the month, a 4 percent increase from the previous month, and 94 percent above the level reported in July 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 56 Nevada housing units received a foreclosure filing in July, once again the highest state foreclosure rate.

"Nevada continues to report the highest foreclosure rate in the nation with numbers nearly doubling from this time last year," said James J. Saccacio, chief executive officer of RealtyTrac. "During the first quarter, the state reported a whopping 31 percent year-over decrease in home values -- higher than any other state -- and now holds the fifth highest unemployment rate in the country. This combination is the root of the foreclosure crisis here."

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month -- broken out by type of filing at the county, state and national level. RealtyTracs report incorporates documents filed in all three phases of foreclosure: Default -- Notice of Default (NOD) and Lis Pendens (LIS); Auction -- Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

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Las Vegas Real Estate Market Report: 09/09/09

This is the latest Las Vegas Real Estate Market Report from www.NARREIA.com (National Association of Residential Real Estate Investment Advisors). For the week of September 9, 2009, data is obtained from the Greater Las Vegas Association of Realtors MLS.

Single Family Residence (SFR)
Available 8,636 (-56 , Last Week 8,692)
Under Contract 11,442 (+188 , Last Week 11,254)
Days of Supply 23 (+0 , Last Week 23)
Short Sales 9,897 (+133 , Last Week 9,764)

Condominiums and Town Homes (CONDO/TH)
Available 2,660 (-38 , Last Week 2,698)
Under Contract 2,764 (+38 , Last Week 2,726)
Days of Supply 29 (-1 , Last Week 30)
Short Sales 2,703 (+22 , Last Week 2,681)

Combined SFR + CONDO/TH
Available 11,296 (-94 , Last Week 11,390)
Under Contract 14,206 (+226 , Last Week 13,980)
Days of Supply 24 (+0 , Last Week 24)
Short Sales 12,600 (+155 , Last Week 12,445)

Are you looking to purchase property in the Las Vegas area?

Now is the time to buy Las Vegas Homes.  Contact Us directly at 702-608-5260.

Search for Las Vegas Foreclosures

Use our Interactive-Map Search for all Las Vegas Homes for Sale

Search Our Las Vegas NEW Homes Database