Once again it’s time for Friday Figures! All information from the GLVAR MLS system. It’s critical market data you and your Realtor need to know before touring, making an offer, or listing a home in the Las Vegas Valley this weekend.

Summary: At the risk of sounding boring, available units remain just over 11,000. All things considered, that is really good news. We have fewer than 2000 bank owned homes in the MLS (our MLS does require bank owned listings to be noted as such, unlike some area MLS systems), which is great considering what you’ll read in the next paragraph! Contingent and pending units continue to trend slightly upwards, which hopefully means more closes in the future. The it is still worrisome that over 9000 of those listings are short sales — how many will actually close is anyone’s guess. The number of closed sales this week climbed over 700 for the first time this year, which is more good news.

Other Information: Wow is there a lot of negative news out there this week! Vegas was ranked highest in foreclosures for 2009 with 1 in 8 homes having some sort of filing (this figure includes all foreclosures from Notice of Default to Bank Owned). This certainly contributes to the fact that we have the most undervalued housing market in the country. New home and existing home sales were down substantially in December nationwide, and my readers know that actual closings have been down locally in January. Let’s close with something relatively happy: what not to eat in Vegas.

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