The Las Vegas GLVAR has 19,456 homes listed for sale as of 3-15-09, 8349 homes are under contract and in escrow to be sold.
31% of the total inventory is under contract to be sold.
They are broken down as follow
Homes Listed For Sale.
Bank Owned 6542
Resale’s 6066
Short Sales 6802
Under Contract
Bank Owned 4834 73% of the total for sale under contract
Resale’s 816 13% of the total for sale under contract
Short Sales 2652 38% of the total for sale under contract
Last month our average price sold only dropped 1.3 from the previous month, we have been running 5-8% drops a month for quite some time. 