Kristine Dugan, ABR, BS, CRS, SFR
Your Resource for All Things Real Estate
Direct Phone: 702-332-7781 :: Email: info@HomeSearchVegasValley.com
January 2012 Vegas Valley Market Update
Posted on January 21, 2012
Summary of Homes Sold in December 2011
Total Homes Sold in December: 4,170
Fast Facts The Vegas Valley Real Estate Market was record breaking in 2011! Sales activity was the highest it has ever been in our local market with 48,616 properties sold. Below is a summary chart of the sales activity we have seen over the past couple of years. 
Average and Median home sale prices have decreased over the past year. About 45% of all homes sold last year were under $100,000 which continues to pull the average and median sales price down. Below is a visual of the average and median purchase price over the last couple of years. 
For 2012 predictions of the National Real Estate Market, click here to read my most recent blog post.
Inventory Watch 
The Vegas Valley Inventory continues to decrease. This is actually the least amount of homes for sale since May of 2010. I am guessing that within the next couple of months, more homes will be put on the market. While this inventory supply is low, the demand of homes has increased which makes more competition among home buyers for the current homes available.
Current Inventory Available: 11,111 Properties
The Vegas Valley Inventory continues to decrease. This is actually the least amount of homes for sale since May of 2010. I am guessing that within the next couple of months, more homes will be put on the market. While this inventory supply is low, the demand of homes has increased which makes more competition among home buyers for the current homes available. Months of Inventory for ALL properties in Las Vegas is down to 2.9 Months - For Non-Short Sale properties, the Months of Inventory is 2.1 Months.
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