Las Vegas homes sales figures and Las Vegas mls figures show single family homes inventory increase for January 2008. The Greater Las Vegas Association of REALTORS or GLVAR reported the inventory of homes, townhomes and condominiums in Las Vegas, Nevada real estate for January reached 22,117 listed. This is an increase of 112 or .05 percent from the previous month of 22,005 residential real estate listed in the mls. From January 2007, that is an increase of 17.8 percent of inventory.
The Las Vegas mls shows a medium price of a single family home at $249,900, or a decrease of 3.9 percent from $260,000 in December 2007.
The median sale prices in January for townhomes and condos decreased to $162,000 or 12.4 percent decrease from December.
Las Vegas condos and townhomes listings decreased to 5,388 or 2.2 percent from December’s 5,508 inventory levels. Year to date totals from January 2007 is an increase of townhomes and condos of 5.3 percent.
GLVAR mls reported an increase of 0.6 percent in January of 168 units from the previous month. However, this is a year to date decrease of 47.2 percent.
The Las Vegas Multiple Listing Service had sales of 983 for the month. December showed 879 homes sold in the mls, an increase of 11.8 percent. Year to date figures shows a decrease of 39.6 percent.
Over $302 million total value of residential single family home sales were completed in January. This was an interesting increase of 7.9 percent from December.
GLVAR listing and sale data collected through the mls does not show completed sales of For Sale By Owner, builder new homes or other real estate transactions without an agent.
Bank owned properties and short sales accounted for an almost 38 percent of the total sales for January and is the biggest contributor to the drop in the median housing price. This is a temporary market fluctuation that may keep prices artificially low for several months.
Las Vegas homes sales figures and Las Vegas mls December inventory decrease.