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Summerlin Market Update Oct 25th-Nov 21st 2009

SINGLE FAMILY RESIDENCE

On The Market                                                 973

Bank Owned                                                      53

Short Sale                                                       202

Pending                                                             76

Contingent                                                       424

Sold                                                                 136

Foreclosure Commenced                                      21

CONDO/TOWNHOUSE

On The Market                                                   143

Bank Owned                                                         19

Short Sale                                                            22

Pending                                                                15

Contingent                                                            72

Sold                                                                     23

Foreclosure Commenced                                         4

Look at the properties that went under contract or Contingent since Oct.  Contingent means that there has been an offer written on the property.  There could be many reasons why it did not go straight into Pending Status, inspections, loan is not quite in place, or what we are seeing a lot of these days is waiting for the bank to decide on a short sale. The On The Market figures are a total of ones with no contact and the contingent.  This does not include the pending as offers are not usually written on a property while in this status, but offers as often still put in on properties that are contingent.

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