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Las Vegas homes sales figures and Las Vegas mls figures show single family homes inventory reduction for December. The Greater Las Vegas Association of REALTORS or GLVAR reported the inventory of townhomes, condos and homes in Las Vegas, Nevada real estate for December, 2007 reached 22,005 homes listed. This is a decline of 1,489 or 6.3 percent from the November amount of 23,494 listed homes for sale in Las Vegas, NV. This is a welcomed decline in listing from August. Real estate inventory has increased 23.4 percent Dec 2006.

The Las Vegas mls shows a medium price of a single family home is $260,000 or a year to date decrease of 15.1 percent.

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Engle Homes, Las Vegas home builder, files for Chapter 11 Bankruptcy protection. The Florida based new home builder, under the name Tousa Inc., asked this week for debtor in possession financing.

Because of the housing downturn in Las Vegas and many other areas of the country, some local home builders will be closing their doors.

Day to day operations of the home building company are expected to continue without interruption.

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Palms Place Las Vegas condo hotel expects its certificate of occupancy for the 599 unit, 47 story, luxury Las Vegas, NV hotel by the end of February 2008. Palms Place condos and the Palms Fantasy Tower, distinguishable Playboy Club emblem, complete a $650 million real estate expansion.

Several condo hotels near or on the Strip, include Trump Towers Las Vegas, The Signature at MGM Grand and the Platinum.

Construction costs were expected to have been lower, but not too much of a cost overage.

The previous general contractor for the Fantasy Tower, Whiting Turner, had to turn down the same position for Palms Place due to previous construction projects. M.J. Dean was then chosen as the general contractor.

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Las Vegas NV Real Estate

Las Vegas Luxury Real Estate Home Sales For Jan 15 - 21 2008

$1.6 million, Red Rock Country Club Real Estate in Summerlin, 3,797 square feet, 3 bedrooms, 3.5 baths, granite countertops, stainless steel appliances, four-car garage, luxury golf home with mountain and city views.

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