Bank Owned Las Vegas Listings (AKA Foreclosures, REOs) are enjoying a HOT SELLER'S MARKET! Inventory has risen slightly (+218 units), Pendings have risen DRAMATICALLY (+763 units.) Closing data is up up UP at + 442 units.
Inventory holding steady. Absorption rate is 2.9 months.
There are some wild numbers out there in the blogosphere in regards to percentage of bank owned sold vs other sold. All the solds for the same time period = 2407 units. The percentage of REO's being sold in the market is 58.7%. The number of REO Listings represents 20% of the resale market.
Current Listed Bank Owned Statistics:
- Listings (6/3/2007): 4130
- Under Contract (6/3/2007): 3297
- Sold 4/24-5/24/2008: 1412
- Absorption Rate: 2.9 Months
If you would like to buy a bank owned property call 702-966-2494, press option 1 and let us know what you are looking for. We will set you up on a search to have the new listings emailed to you as soon as they hit the market!
All statistical information I used to create this report was obtained from GLVAR MLS. Information Deemed Reliable but not Guaranteed.
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