September month Las Vegas home sales are summarized below.

* 3,785 sold units single family homes; 400 more units than September 2005.
* Medium home price $138,000; a 2% increase from August.
* 5,087 new units listed single family homes.
* Medium condo prices lowered slightly to $65,720 a drop of 1% from August.
* Medium rental price is $1,150.

The current status of the housing market is stable inventory with multiple offers on every single home on sale right now. There is so much competition that homes are selling way above list price. Due to multiple offers on each property, banks are taking longer and longer to approve leaving many buyers waiting. I do not anticipate home prices falling any further. We are anticipating more and more short sale volume than bank foreclosures. Because for every home not foreclosed the government is paying banks $2800 per house. Thus if bank has 100,000 homes in short sale that's alot of money. I'll keep you updated on the Las Vegas housing market.

For questions on the Las Vegas market contact me at 702-212-2288. My team and I have sold over $2,618,000 in sales volume thus far this year. We are your trusted advisor in the city!