We are going to talk about the monthly market update and what is going here in Southern Nevada. For August 2019 we are going to start with quick stats. Now this is single family residence only, our current available inventory is 8,208. There are 4,142 homes in escrow or pending and in the last 30 days we have sold 3,105 homes. That leaves us with a number of months of inventory an absorption rate of 2.64, which means on average that is how long it takes for the homes to be sold. Take the number of months available and divide it by the sold and that’s how you get the absorption rate. Our average days on the market right now are 39 days on the market. Stay tune and learn more about the Las Vegas Market!
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