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

Welcome to the Las Vegas Area Market Condition Report (MCR) provided by Equity Title.

We appreciate and value your business.

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These comments and opinions are designed to accompany the Market Condition Report attached to this document.

THIS YEAR LAST YEAR

SPECIAL NOTE: A computer error was made in the previous MCR that under-estimated the change from last year to this year. The error has been repaired and the totals and percentages adjusted.

MARKET OVERVIEW—CHANGE FROM PREVIOUS MONTH

Based on the changes from the previous month, the market should be judged as moving toward the buyer.

The reader should note the DISTRIBUTION SUPPLY/DEMAND table. The current ratio is 9.6 to 1 overall--up from 9.5 the previous month. However, higher-end properties face ratios of 18 to 1 (18 competitors for each property in escrow). The rising ratio implies increasing negative pressure on the price line.

The strongest sub-market is Boulder City SFR. The weakest is Central CONDO, followed by Southwest and Southeast CONDO. As a general rule, the relative strength of markets can be deduced by the 60 DAY ABSORB RATE.

MCR TIP

The 60 DAY ABSORB RATE measures market speed. Another way to think about the ABSORB RATE is the rate that listings are converted to closings in a 60 day period. The higher the ABSORB RATE, the quicker this conversion is occurring and the more the market is moving toward the seller. The opposite is true.

WORDS OF WISDOM

Effective leadership is not about making speeches or being liked; leadership is defined by results not attributes (Peter Drucker).

 

 

View Previous Market Condition Reports
 

January 2008
December 2007
October 2007
September 2007
August 2007
February 2007

 

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Summerlin Real Estate

Las Vegas Real Estate and Homes for Sale

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