Las Vegas Luxury Properties Link

During the past seven days, the number of available properties dipped by another 105 units, bringing total inventory to 12,553 homes. Compared to the same week of the prior year, inventory is down 43.2 percent, or a decline of 9,543 units (from 22,096). Availability is at its lowest level since December 2005, a period when the median resale price was nearly $285,000; for comparison purposes, the latest median price is nearly $125,000.

As properties move from an "available" status, they generally migrate to the contracted status either contingent or pending. Contingent units are awaiting some action, such as a bank's approval on a short sale. The combined total of contingent and pending units reached 14,297, up 145 units during the past week, and up 6,958 units (or a 94.8 percent increase) from the same week of 2008. A number of short sale transactions still require lender sign-off, which contributed to the rise in unclosed sales. With short sales accounting for more than one-half of contracted units, it is unclear if all sales will close as planned.

This Graph shows the available properties on the market in Las Vegas.

It's separated by Owner Occupied, Vacant, and Tenant Occupied

This graph shows the number of contingent and pending home sales in Las Vegas.

If you have specific questions about the Las Vegas real estate market, please give me a call toll free at 1-866-589-1646 and I can get you any information you need.  It's a hot market!