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Palm Canyon market report - 4th quarter, 2007

Home sales activity in Palm Canyon, a neighborhood near Black Mountain in Henderson, NV fell sharply in the 4th quarter of 2007, with only three homes sold, compared to ten homes in the 3rd quarter. Year-over-year activity was down 45%, with just 26 homes sold in 2007 versus 47 homes in 2006.

The existing resale inventory of 13 homes represents a one-year supply at the current sales pace, which is a strong buyer's market. Homes in Palm Canyon have lot sizes from about 6,000 square feet up to 1/4 acre and more.

Here are the details of the fourth quarter sales:

Address	Sq Ft	Bed/Bath	List Price	Sale Price	DOM	Closing Date
827 Woodtack Cove	2018	4/3	$369,900	$365,000	30	11/02/07
155 Laguna Landing	1802	3/2	$288,000	$279,360	76	10/03/07
830 Manor Shores	1802	3/2	$295,000	$275,000	28	12/17/07

(GLVAR deems information reliable but not guaranteed. Properties listed and sold by various MLS participants. Sale Price adjusted for any seller contributions. DOM = Days on Market)

Palm Canyon consists of 598 one-story homes from 1,323 to over 2,000 square feet, built from 1994 to 1997. For more information, or to buy or sell a home in Palm Canyon, contact John Novak at (702) 339-9700 or JohnNovak@kw.com.

Posted by John Novak - Las Vegas and Henderson NV Real Estate on 01/10/2008 07:34 PM

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