Summary: Number of homes sold is down, buyer's market continues to heat up. Listings inch up.
Las Vegas Listings: (view chart)
Listing numbers grew in July adding to the pressure on sellers. Home buyers have been waiting for their prime opportunity to jump into a home.
Las Vegas Market Strength: (view chart)
The number of homes sold were down but on the three month average the market hasn't yet shown weakness compared to the national market.
Las Vegas Resale Homes Sold: (view chart)
The number of homes sold this last month was the lowest it has been in months. Tighter lending restrictions have narrowed the field of potential buyers.
Las Vegas Median Prices: (view chart)
Median prices are relatively unchanged. They settle from month to month between $275k - 285k.
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 for 18-24 months so take advantage of the summer selling season to make your transition.
Full Las Vegas market report found: http://www.hildrethhome.com/lasvegasrealestatemarketwatch/