Summerlin Real Estate, Las Vegas Real Estate, Henderson Homes For Sale

Las Vegas Marketing Report

MARKET CONDITION REPORT
LAS VEGAS VALLEY
February 2, 2007

This indicator (This Year-Last Year) begins anew on January 1.  Early results generally do not provide a large enough sample of comparative data to draw reasoned conclusions.  However, the negative result is a continuation of the 2006 trend in which the market finished 2006 about 28% from the previous year (2005).

MARKET QUICK LOOK

SFR listings (supply) which were beginning to rise have now retreated by about 1,500 since last report.  CONDOS, however, holding steady.

Demand for SFR type property continued on a negative trend.  Demand for CONDOS appear to have steadied in the mid 300 units per month with a negative inclination.  The reader should note, as a reference point the demand for CONDOS in January 2006 was about 600 per month.

Failures (Expired-Withdrawn) for CONDOS very steady at about 1,200 per month while SFR rate declined to about 4,200 per month.

Consequently, PERCENT SELLING increased marginally for SFR with not change for CONDOS.

The 60 DAY ABSORB RATE (market speed) increased only slightly.  It is possible that the Absorb Rate bottomed out early January at 18.2% for SFR and 15.5% for CONDOS.  Absorb Rates in the teens signal a very slow and sluggish market.

Since DAYS SUPPLY was relatively unchanged, the market (as a whole) must be judged to be a buyer's market in terms of its current position and appears to be holding at that current level of activity with no significant movement either way.

View Previous Market Condition Reports
 

Summerlin Real Estate

Las Vegas Real Estate and Homes for Sale

Las Vegas City Guide  |  Search Las Vegas Homes for Sale  |  Contact Joe