I’m so glad you stopped by for Friday Figures! All information from the GLVAR MLS system. Make no mistake, this is what you and your Realtor need to know before touring, making an offer, or listing a home in the Las Vegas Valley this weekend.

Summary: Available listings are rock-steady at 11025, although the percentage of short sales is slightly up. Contingent and pending sales are up slightly too. Closings are returning to a level we saw in most of 2009. Prices appear to be fairly solid — a trend I hope continues.

Other Information: The fact that our local number of listings is stable is even better when you consider that nationwide, the number of listings grew in January. Nationwide, we are also experiencing a decline in the percentage of families that own a home and a mortgage delinquency rate that has reached 10%. Locally, we have a rising rate of short sales (still not getting them approved fast enough, but it’s progress), declining apartment rent prices (rental homes and condos have pretty much remained stable since I’ve been tracking the data), and a loss of 15,000 jobs. Just for fun, here’s a look at the CityCenter project.

Available Listings: There are 9096 single family homes (down), with a median price of $172,900 (down), $88 per square foot (unchanged), with median time on market of 89 days (down). In addition, there are 1931 condominiums and townhomes (down), with a median price of $80,000 (unchanged), $70 per square foot (down), and median time on market of 80 days (down). At the beginning of last month we had 8868 single family homes with a median price of $172,500 and 1950 condominiums and townhomes with a median price of $82,250.

Distressed Properties: Of available listings, there are 4975 short sales (up) and 1875 bank-owned properties (down). Median price for a short sale is $129,500 (up); median price on a bank-owned home is $129,900 (unchanged). Short sale listings, whether available or contingent, must be considered at risk of becoming bank owned properties. The 4154 non-distressed properties for sale (up) had a median price of $245,000, down. While many of the non-distressed properties are traditional sellers, many others were purchased less than 6 months ago as short sale or bank owned, and renovated by investors. Last month we had 4568 short sales and 2280 bank-owned properties.

Single Family Home Prices: Of available listings, 145 under $50,000; 1362 between $50,000-$100,000; 4109 between $100,000-$200,000; 2199 between $200,000-$400,000; 675 between $400,000-$700,000; 236 between $700,000-$1,000,000; and 516 over $1,000,000. Last month we had 185 under $50,000; 1358 between $50,000-$100,000; 3910 between $100,000-$200,000; 2112 between $200,000-$400,000; 676 between $400,000-$700,000; 236 between $700,000-$1,000,000; and 533 over $1,000,000.

Condo and Townhome Prices: Of available listings, 379 under $50,000; 907 between $50,000-$100,000; 513 between $100,000-$200,000; 133 between $200,000-$400,000; 27 between $400,000-$700,000; 9 between $700,000-$1,000,000; and 4 over $1,000,000. Last month it was 386 under $50,000; 887 between $50,000-$100,000; 518 between $100,000-$200,000; 141 between $200,000-$400,000; 40 between $400,000-$700,000; 10 between $700,000-$1,000,000; and 12 over $1,000,000.

Contingent and Pending listings: Of the 13802 properties in the process of being purchased (up), 11068 are single family homes with median price of $135,900 (up); 2734 are condominiums or townhomes with median price of $65,000 (unchanged). Final negotiated sales prices are confidential until closing. Of those, 9303 were short sale (up), 3194 were bank owned (up), and 1289 were non-distressed sales (up). At the beginning of January we had 13387 contingent and pending units, 8932 short sale, 3308  bank owned, and 1128 non-distressed sales.

Recently sold: 777 properties closed in the last week, 3292 in the last 30 days, and 3569 so far this year. For properties closed in the last 30 days, median time on market was 29 days (up, time on market including the contingent period was 98 days). Median sales price was $120,000 (down); median list price was $119,997 (down). Short sales accounted for 709 of them, there were 1910 bank owned properties, and 670 non-distressed sales. Last month median sales price was $124,000; median list price was $120,000.

Rentals: 5051 homes, townhomes, and condos were available for rent in the Valley in the MLS system. Median square footage of these units is 1368 and median rent is $1095. There are 712 contingent leases waiting to be signed and 1915 leases signed in the last 30 days.

Need more information or help with your real estate needs? Call me today at 702-727-7842 or email bmagnus@bridgetmagnus.com. Although this information is available to all GLVAR members through the MLS system, this article was written and copyright by Bridget Magnus, and is her sole property.