Happy Nevada Day, and thank you for dropping by to read Friday Figures! All information from the GLVAR MLS system. If you are touring, making offers, or listing property this weekend in the Las Vegas Valley, please read this first!

Summary: Available listings held steady at a total of just under 11,000. Bank owned listings did tick up slightly, although no trend has developed. There was also a rise in the number of low-priced properties. Pending and contingent listings did drop under 15,000, reflecting the abnormally large number of properties that closed prior to month-end (because today is a state holiday, there will be no more closings until Monday). There was only a $100 gap between sales price and list price on average in the last 30 days: if you are serious about buying, make your first offer your best offer; if you’re serious about selling, price it right. Despite local economic issues, both sales and rentals still appear strong.

Other Information: A lot of data came out this week. In housing, the latest Case-Shiller numbers show that Vegas housing prices are well on their way back to 2000 levels. Some experts think that housing prices are likely to drop, possibly as much as another 10%. Others think there is light at the end of the tunnel (assuming that the economy really is turning around and we get some job creation soon). Housing sales are strong, but mostly in the sub-$100k price range; this indicates that sellers who can afford to blast things out at discounted prices will have an easier time selling. In other local news, we have some Census data reported earlier this week, and some absolutely abysmal sales tax numbers. One more thing, it looks like the Senate has put together an extension of the home buyer tax credit, with some credit being extended to people who are not first time buyers. It remains to be seen whether the House of Representatives will approve a similar measure.

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