Las Vegas MLS Stats for September 12, 2007
This week I’ve decided to make a chart to show the different market segments based on price. (Click on the image to expand it and see the details) I was a bit shocked to find out that 80% of the homes for sales in the Las Vegas market are listed under $500,000. As of the 12th we are up to 27,297 active homes on the market, the good news is that we have only increased by 85 over the past couple of weeks. I think we are starting to see a leveling off of the inventory.
The homes for rent have jumped up 171 more to a total of 3922 maybe this is a sign that some owners are starting to look for renters as we have about an 18 month supply of homes on the market.
Another interesting point I want to make has to do with all of the junk mail in my inbox! It seems like every builder is trying to push up the closing by the end of the year so they are offering big buyer incentives and 5%-6% Realtor commissions or even more! This is going it even harder for the resale market over the next few months. There are some GREAT deals out there right now!