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Home Las Vegas Real Estate Market Snapshot

Las Vegas Real Estate Market Snapshot

Las Vegas Real Estate Market Snapshot 7.23.2007

Created by RE/MAX Advantage

Headline

33% reduction in home values? That is the suggestion by a not so local "expert" for our market to recover. If that were to happen, a $300K

home would be $200K by the end of the down cycle. Also reported this week was an inventory of nearly 55,000 lots by local builders with no

construction taking place. There's good news in this Snapshot; a below average increase in total inventory, an increase in pending sales, and

a small increase in the Pending Index (indicator of market activity). The Pending Index still remains within the yearly low. The end of the month is within reach, it'll be interesting to see what portion of the pending sales close and whether the market will lose more ground

Entire MLS Area 101-606

Total

+/-

%

Sold

YTD

Available

Listings

last week

% Vacant

Listings

+/- last week

Short sale

+/- last week

Pending

Listings

+/- last week

Index

+/- last week

Last 30

Days

+/-

Months

Supply

Sold

Listings

vs 2006

4 week

trend

4 week

trend

SFR

20547

+177

↑

41.8%

-

9.8%

+

2328

+

↑

1185

-

9802

CN/TH

5682

+40

↑

52.0%

+

7.8%

+

505

-

↓

287

+

2214

Total

26229

+217

↑

44.0%

=

8.5%

+

2833

+

↑

108

-

1472

-

17.82

12016

-37.3%

Henderson Sub-Market

Total

Available

Listings

+/-

last week

% Vacant

Listings

+/- last week

Pending

Listings

+/- last week

Index

Sold

Last 30

Days

+/-

Months

Supply

4 week

trend

SFR

3546

+

↑

40.3%

-

413

+

↑

237

-

CN/TH

802

-

↑

56.6%

+

81

-

↑

41

-

Total

4348

+

↑

43.3%

-

494

+

↑

114

+

237

-

15.6

Rentals Supply

Available

4022

2.9

Leased

1394

↓

Hi-Rise Sub-Market

Total

Available

+/-

last

4 week

% Vacant

+/- last

Pending

+/- last

4 week

Sold

Last 30

Months

Sold

Listings

week

trend

Listings

week

Listings

week

trend

Days

+/-

Supply

YTD

Hi-Rise

666

+

↓

77.5%

+

80

-

↓

12

=

55.5

108

Agents & Brokers in MLS 30 yr Fixed Rate

16992 +33

6.625%

Weekly snapshot is computed every Monday after 12 noon. Pending index (pi) is relationship to inventory. Index set on 153 on 1/1/2007. 300 is considered a market in relative equilibrium. Short

sales are available listings as indicated in the MLS. All data taken from the GLVAR MLS. All homes (not manufactured) condos and townhomes are included in this date located in the immediate

AVG DOM

SFR

74

CN/TH

82

Las Vegas valley (mls 101-606). 30 yr fixed interest rate is with 1 pt origination.

Posted Tuesday Jul 24