September Residential Highlights
Clark County defied recent trends this month by posting increases in both pending (7.9%) and closed (2.4%) sales, when comparing September 2008 with September 2007. New listings, however, dropped 15.8%. See table above. At the month’s rate of sales, the 4,962 active residential listings would last approximately 12.7 months (for the third-straight month).
Third Quarter Report
In the third quarter of 2008, compared with that of 2007, new listings dropped 12.5% (3,234 v. 3,696). Closed sales also decreased 22.7% (1,258 v. 1,627) and pending sales fell 12.4% (1,304 v. 1,488).
12-Month Sale Price Percent Change
Comparing the rolling sale prices for the 12 months ending in September 2008 with those of the 12 months immediately prior, the average sale price decreased 6.7% ($287,300 v. $307,800) and the median sale price fell 6.3% ($247,500 vs. $264,000).
