Welcome to Friday Figures! All information here is from the GLVAR MLS system. This is what you and your Realtor need to know before touring, making an offer, or listing a home this weekend.

Available listings for sale:  There are 13466 available single family homes, 4124 condominiums and townhomes. Both these numbers continue to drop week-over-week.

Distressed Properties: Of those listings, 6687 are noted as short sales and only 4865 are bank-owned. If there were any “phantom inventory,” this would be the time to start putting it out there.

Contingent and Pending listings: Properties in the process of being purchased are 9115 single family homes, 1759 condos and townhomes. Gains continue. Median asking price of contingent houses is $149,900; median asking price of contingent condos/townhomes is only $74,900. The accepted price is confidential until the sale closes. Bargain hunters are dominating the buyer’s scene.

Single Family Home Prices: Of available listings, 241 under $50,000; 1997 between $50,000-$100,000; 5714 between $100,000-$200,000 (a huge drop!); 3911 between $200,000-$500,000; 1019 between $500,000-$1,000,000; and 759 over $1,000,000. Inventory is dropping at all price levels, even luxury homes; this is a good sign for future prices rising. Median price on an available single family home is $179,000; median price per square foot is $93; median time on market for currently available homes is 107 days.

Condo and Townhome Prices: 509 under $50,000 (once more over 500); 1441 between $50,000-$100,000; 1166 between $100,000-$200,000; 649 between $200,000-$500,000; 273 between $500,000-$1,000,000; and 164 over $1,000,000. Every category except under $50,000 and $200,000-$500,000 is down. Median asking price on these units is $112,000; median price per square foot is $96; median days on market is 112 days.

Recently sold: 824 properties have closed in the last week, as buyers and sellers alike try to beat the month end rush. 3704 have closed in the last 30 days and 11546 have closed since the first of the year. Of the properties closed in the last week, an 93 properties were on the market less than a week; 7 were on the market over a year; 66 were on the market more than 6 months; median dropped to 44 days (median time on market including the contingent period was 128 days, reflecting many short sales). 290 properties sold for $100,000 or less, 15 sold for more than $500,000. Median sales fell slightly to $128,000 and median list price dropped significantly to $129,900.

Rentals: 4814 homes, townhomes, and condos were available for rent in the Valley according to the MLS system. There are 588 contingent leases(a substantial rise, compared to the modest uptick in available units) and 1694 leases signed in the last 30 days.

Other information: Other people are noticing that our low prices are making people consider “leaving for Las Vegas“. Here’s an interesting item on houses being sold by the County for unpaid taxes. Do your research before you show up at the auction, because you usually don’t have things like title insurance and home inspections in such a purchase. My TMV colleague Joe Gandelman did a very nice piece on bulldozing certain foreclosed homes (people who live near Detroit have seen this for over a decade now; I’ve seen my share of homes being sold for the value of the land underneath). Our industrial vacancy rate is the highest since 2002, so this is the time to negotiate your lease if you ever thought about running a business in Vegas. Federal statistics say housing prices are finally starting to rise (it’s only one month’s data, so no trend yet) even though the Case-Shiller index disagrees. Is Countrywide serious about loan modification or not? Once more Vegas tops the list of foreclosures, but keep in mind this is everything from the Notice of Default to actual bank owned property. And last, one local housing expert thinks the median price is headed all the way down to $100,000. It is certainly true that inventory at that level is moving fast — but it’s often selling at more than list price.

For more information, to find your home, or to help sell your home, please click the “Contact Me!” link in the sidebar, or just call the number at the top of the page. Friday Figures is published by Bridget Magnus on BridgetMagnus.com and is her property, even though any GLVAR Realtor can access this data.