Somebody keep me straight!

By
Real Estate Agent with Keller Williams

This is 2 weeks in a row that I've slacked off and didn't give you all your Las Vegas stats.  I have to apologize, but this week has been extremely busy for me, which is a good thing!

Anyway, this is going to work out.  We'll get to see the stats just before the end of the month and I'll run the numbers again on about Tuesday to see how much things change.

The REOs are still pulling strong numbers over 17% of the sales over the last 30 days have been REO according to the MLS.  But...I think that number is much higher,  The only way to discern that a property is an REO is by looking for REPO in the property description.  I'll tell you that just looking through the MLS (a lot) doing my BPOs that probably 30-60% of the time REPO is not indicated in the MLS.  Now, I don't believe it's "required" to put REPO in the property description if it's an REO, but it sure would help me get the numbers right!  I would definitely say that REO sales are more like 20% and maybe even up to 25% of the total sales occuring now.

Well, Here are the rest of your stats:

Lowell Caro, Jr.  Your Real Estate Market Advisor 
      
Weekly MLS Market Snapshot 
      
As of COB: Thursday 29 Nov, 07 @ 9:30 pm 
      
Catagory NumberTotalsVacantPercentages
SFR Inventory 21,730 10,20246.95%
Condo Townhome Inventory 5,628 3,18456.57%
Total  27,35813,38648.93%
Total Contingents and Pending 2,307 1,71474.30%
Total  29,66515,10050.90%
Short Sales (EA/ER) 4,179 1,746       41.78%
Repos (estimated EA/ER) 2,122     N/A
Total Distressed  6,301        23.03%
Total Sold in last 30 Days 1,233 903       73.24%
Sold short sales  79          6.41%
Sold REOs  213 17.27%
Months of inventory at current rate of consumption (29,665/1,233)24.05920519

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Rainmaker
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Lanre Folayan
I don't make promises. But I do deliver results.
Keller Williams Capital Properties-Buy a home in Washington DC. Sell a home in Washington DC
Thanks for providing the stats for Las Vegas. It don't know anything about the Las Vegas Market but I was always curious to find out. By the way,is there a particular part/subdivision in Las Vegas that is hot? Great post.
November 29, 2007 11:46 PM
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Rainer
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Lowell Caro Jr.

REO Broker and Market Advisor
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