Las Vegas NV Housing Market Update
See below for Single Family Home Availability and Sales in Clark County NV to include cities of Las Vegas, Henderson and North Las Vegas:
If you look at the numbers below, my Las Vegas Housing Market Update shows the total single family inventory (which includes the available homes and those under contract) equals 21,583 units. To get the Absorption Rate you take this number and divide it by the total sales in the last 30 days (3,380 units) and that will give you the current Absorption Rate. Our Absorption Rate is 6.38 months. In other words, we have 6.38 months of inventory. This shows that we are in a buyer's market. The general rule of thumb is 1-4 months of inventory is a seller's market, 5-6 months of inventory is a balanced market, and anything over 6 months inventory is a buyer's market.
In my Las Vegas NV Housing Market Update, I also break down the absoption rate by zip code which allows you to evaluate our market by areas.
Seller's Market in Las Vegas, Henderson and North Las Vegas: In the following zip codes, the absorption rate is below 5% -- 89086, 89030, 89156, 89138, 89145, 89101, 89103, 89119, 89014, and 89178 are all below 5% which makes it a seller's market in these areas.
Balanced Market in Las Vegas, Henderson and North Las Vegas: In the following zip codes, the absorption rate is between 5-6% -- 89143,89085, 89130, 89108, 89106, 89110, 89144, 89110, 89142, 89104,89117, 89121, 89011, 89147, 89120, 89118, 89015, 89174, 89002, 89012, 89183, 89179, and 89113 are all between 5-6% which makes it a balanced market in these areas.
Buyer's Market in Las Vegas, Henderson and North Las Vegas: In the following zip codes, the absorption rate is over 6% -- 89141, 89052, 89123, 89148, 89139, 89122, 89109, 89135, 89146, 89102, 89134, 89128, 89129, 89149, 89166, 89131, 89031, 89081, 89115, and 89084 are all over 6% which makes it a buyer's market in these areas.
My Las Vegas NV Housing Market Update also shows that the least amount of inventory is located in the 89014 zip code and the most inventory is located in the 89109 zip code.
See below for a summary of the market conditions in Las Vegas, Henderson and North Las Vegas combined.
Market Snapshot of Single Family Home Availability and Sales ~ 10/21/11
| Bank Owned | Short Sales | Regular Sales | Total | |
| Available | 2,099 | 5,169 | 3,340 | 10,608 |
| Under Contract | 2,695 | 6,964 | 1,316 | 10,975 |
| Sold Last 30 Days | 1,602 | 860 | 918 | 3,380 |
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Jennifer Moran Foland
Keller Williams Realty Las Vegas
702-232-7721
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