Las Vegas Market Watch (2007 March Month End)

The Las Vegas housing market remains flat. Prices are moving very little and houses sold stats are moving little. Sellers continue to give great deals as buyers negotiate great terms.

Las Vegas Listings: (view chart)
In mid-march the number of Las Vegas home listings set a new record (view listing chart). There are more resale homes, condos, and town homes on the market than ever before. With such great option buyers are choosy when shopping for a great property.

Las Vegas Market Strength: (view chart)
As the average days on market stats have risen over the past few months along with little change in median sales prices the market strength indicator shows the market sitting at a flat level.

Las Vegas Resale Homes Sold: (view chart)
The number of resale homes, including condos and town homes, was up for March compared to January and February. The spring selling season will heat up some as buyers plan for school to let out and warmer weather.

Las Vegas Median Prices: (view chart)
Homes, including single family, condos, and town houses, retained a consistent median price in March compared to January and February. Prices have been flat throughout 2006 and are expected to remain flat for some time due to the high number of houses for sale.

Las Vegas Real Estate Market Watch Conclusion: (view chart)
There is no better time to buy or sell Las Vegas real estate. If you are going to buy, do it now while the market is awaiting the next positive growth. If you are going to sell, do it now. Prices will likely remain flat so take advantage of the spring and summer selling season to make your transition.

Author: Las Vegas real estate agent: Darren Hildreth, Las Vegas Realtor®Also Posted On: