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.
The median sale prices in December for condos and townhomes decreased to $185,000 or 5.1 percent.
Townhomes and condominium listings increased to 5,508 or 14 percent from a year ago.
GLVAR mls reported a decrease of 55.1 percent year to date of condos sold in Las Vegas. A total of 167 units were sold in December.
Foreclosures have driven the single-family home median price down to $260,000, a 15.1 percent decline from a year ago. More than 60 homes sold were either short sales or repossessed. These short sales are creating a lower than average median price.
December is usually a slow month for sales. A large number of homes are vacant and owned by lenders, banks and investors who sold last month at very discounted prices.
The Las Vegas Multiple Listing Service had sales for December at 879 homes or a decrease of 46.5 percent year to date. This makes an entire four months of less than 1,000 home sales.
Over $280 million total value of single family homes sales were completed in Dec. This is a decrease of 54 percent year to date.
GLVAR listing and sale data collected through the mls does not show completed sales of builder new homes, For Sale By Owner or other transactions without a Las Vegas real estate agent.
Las Vegas homes sales figures and Las Vegas mls December inventory decrease.