Las Vegas NV, MLS Stats for January 11, 2007
The Crystal Ball was right for a change! Over the past week we have seen a large increase again in our available homes for sale in the Las Vegas MLS. We are increasing by about 100 homes a day, we are up 697 net listings to a total of 19,599. At this pace we will be back over 20,000 by Marting Luther King Jr. Day! In addition to an increase in available homes we are seeing HUGE price reductions, just this week we’ve reduced some listings 10-15%! I do get the sense the Las Vegas, NV market is picking up, many of the agents I’ve visited with in the past week seem to think things are changing and the calls are stating to come in from new buyers. Here at The Merrell Team, we’ve seen the same, this week we have received many emails and calls from new clients looking for property to buy. The contacts have been for investments and for primary residences, by this time next week everyone in the state of Colorado might be moving here to escape the snow. This weekend we are even looking at more snow here in Las Vegas, that means MORE Snowmen! Not even a good snow storm can slow down the growth in Southern Nevada. Keep checking back on these stats, I truly believe the first place to know if the market in turning for sure will be by watching our resale inventory.