Las Vegas homes sales figures and Las Vegas mls figures show an inventory reduction for November. The Greater Las Vegas Association of REALTORS or GLVAR reported the inventory of condos, townhomes and single family homes for sale in Las Vegas, NV real estate for November, 2007 reached 23,494 homes listed. This is a decline of 1.8 percent from the October amount of 23,917 homes listed for sale in Las Vegas. Year to date totals is an increase of 19.1 percent. Additionally, the prices of homes have also decreased this month, too. November typically shows a slower month for residential real estate transactions.
The Las Vegas mls shows a median price of a single family home median price is $273,500 or a 0.4 percent decrease from October of $274,725. Year to date is a decrease of 11.2 percent.
GLVAR data collected through the multiple listing service does not show completed FSBOs, completed sales of builder new homes sold or other transactions without a real estate agent.
The median sales in November for townhomes and condos increased to $180,000 or 4 percent increase of October’s $173,000 price. Year to date has a 10 percent decrease.
There was a decrease of townhomes and condos for sale at 5,989, down 0.9 percent from October’s 6,045 listings. From last November, it is an increase of townhomes and condos listed of 16.4 percent.
The were 968 single family home sales in November, down 0.6 percent from October, and down 37.4 percent from a year ago. Townhomes and condos sales decreased to 162 or 17.8 decrease. October had 197 condo sales in Las Vegas real estate.
November had a sales volume decrease of 6.2 percent from October or $342 million of real estate transactions in the mls.
Through November, 43.9 percent of all townhomes and condos sold and 45.5 percent of all Las Vegas homes sold within 60 days. A month prior, 40.6 percent of all townhomes and condos and 47.5 percent of single family homes sold within 60 days.
A recent study by Applied Analysis shows with the strong local economy, large housing choices and low interest rates, there is an expected housing shortage in the next two years.
Las Vegas homes sales figures and Las Vegas mls November inventory decrease.