Housing Market Highlights:
The total number of SFR units sold in July 2010 was 2,948. This is a -12.3% change from June 2010 closings, or 412 fewer SFR units.
On a YTD basis, SFR units now total 20,316 units closed. This is a decrease over the same YTD period of 2009 which was 21,468 units (-5.7%), but is significantly higher than both the 2007 and 2008 YTD SFR volumes of 10,152 and 12,197 SFR units sold, respectively.
The Average SFR Sold Price was $165,332 for July 2010 and still remains within the same narrow range that it has been at since mostly stabilizing in March 2009 (17 months). The record “average” high of $428,817 for SFR was in June of 2007 which was followed by significant monthly price drops until March 2009, and has continue to fluctuate by only a few thousand dollars since.
Total SFR dollar value of Sold SFR units for July was $487,399,987. This reflects a -13.6% change from June 2010, and -20.2% change from July of 2009.
Total YTD dollar values for the Jan through July period on sold SFR units now stands at $3,419,430,032.
Available SFR inventory at the end of June was 10,126 units (those without offers). When the Contingent and Pending SFR units are added to this the inventory stands at 21,750, a 1.8% increase over June 2010 and a 6.5% increase against July of 2009.
If there is any additional information you would like to have on the Las Vegas Real Estate Market, please don’t hesitate to ask Felipe Crook at 1-866-589-1646 from Prudential Americana Group Realtors.
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