Las Vegas homes sales and Las Vegas mls figures show an inventory increase for July, 2007. Greater Las Vegas Association of REALTORS, or GLVAR, reported condos, townhomes and single family homes for sale in Las Vegas, Nevada real estate increased over the previous record setting month. The multiple listing service listed 24,087 homes a 1.9 percent increase from June Las Vegas listings of 23,642. There were a total of 20,273 homes listed in June of 2006.
Due to the strong economic projections, large available inventory, decrease of median single family home prices this is the time for new home buyers in Southern Nevada.
The Las Vegas mls shows the $295,000 median sales price of sold single family homes in Las Vegas real estate market. This is the first time since April 2005, when the price has dropped below $300,000. At that point in time the median price was $297,000. There was a decrease of 3.3 percent from June’s price of $305,000 and another decrease from last years price of $310,000.
The median sales price of townhomes and condos in Las Vegas, NV showed a small increase to $195,000. This is an increase from $194,250 or 0.4 percent from last month and a decrease from $201,500 or 3.2 percent last year.
Townhomes and Condos for sale in Las Vegas for July increase to 6,269 units. June had 6,263 condos, a slight increase of 0.1 percent. July 2006 had 28 percent less townhomes for sale at 4,898 listings.
The total number of local single-family homes sold in July was 1,318, down 10.7 percent from 1,476 in June and down 34 percent from 1,996 sales in July 2006. For condos and townhomes, 303 were sold in July, down 11.9 percent from 344 units sold last month and down 40 percent from 505 units sold in July 2006.
Last month sales volume through the mls was $500 million. This was a decrease of 21.3 percent last month and from July 2006 a 33.1 decrease.
Through July 46.8 percent of all townhomes and condos and 51.1 percent of single family homes sold within two months.
In comparison, 48.5 percent of all townhomes and condos and 52.8 percent of single family homes sold within two months last month.
The GLVAR statistics includes all sales and listing activity through the Multiple Listing Service, but doesn’t take into account new homes sold by builders and For Sale By Owner, FSBO, transactions.