Las Vegas Weekly Snapshot

By
Real Estate Broker/Owner with RE/MAX Advantage

Weekly Snapshot 2/12/2007

Created by RE/MAX Advantage for RE/MAX Advantage.
The last 7 days of the Las Vegas valley marketplace

Total Listings               SFR      15865 (+257/week)
                                 Condo   4652   (+111/week)
                                 Total     20149 (+368/week)
                                             (up 1756 (9.4%) since 1/1)

Vacant units                SFR      42%
                                 Condo  53%
                                 Total    44%   

Total Pendings            SFR       2586    (+113/week)
                                 CONDO  510      (+14/week
                                 Total     3096    (+127/week)

Pending Index                      151 (147 last week // 153 on 1/5/2007)

Supply(months)                    12.16

January Solds                       1657 (more than December and November)

Monday's 30yr fixed              6.25% 1pt origination
                                          Unchanged from last week

Interesting points for the week

• New listings in the last 7 days are the second highest number since the first of the year. 

• Pending index while lower than the beginning of the year is the highest point since the first week of 2007.  The market may be showing some signs of strengthening as the index increased in the same week the number of listings experienced a significant jump.

• New to the snapshot - vacant homes.  A shocking number this week.  It'll be interesting to follow this over time.

Weekly snapshot is computed every Monday after 12 noon.  Pending index (pi) is relationship to inventory.  300 is considered a market in relative equilibrium.  All data taken from the GLVAR MLS.  All homes (not manufactured) condos and townhomes are included in this date located in the immediate Las Vegas valley (mls 101-606).  All data contained herein is property of Tim Kuptz and RE/MAX Advantage.  No unauthorized reproduction or use.

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