Comparing May 2008 with that of 2007, market activity in Clark County appears to have slowed. New listings decreased 14.3%. Closed sales fell 31.9% from its May 2007 mark and pending sales dropped 32.4%. At the month’s rate of sales, the 5,048 active residential listings would last 12.6 months.
Year-to-Date
A look at market activity for January-May 2008 compared with the same period in 2007 shows that new listings were down 6.8%. Closed sales dropped 32%, while pending sales decreased 30.2%.
12-Month Sale Price Percent Change
Comparing the rolling sale prices for the 12 months ending in May 2008 with those of the 12 months immediately prior, the average sale price decreased 2.1% ($299,100 v. $306,600) and the median sale price fell 2.8% ($257,500 v. $264,900).
