The latest RMLS Market Action report shows closed sales are up 4.6% in Clark County when comparing annual activity in 2010 with that of 2011. Pending sales rose 7.9% and new listings fell by 11%.
When comparing the month of December 2010 to December of 2011, closed sales increased over 14%.
Inventory level stands at 6.5, meaning it would take 6.5 months to sell the 2,590 current active listings at the current sales pace if no new listings became available. Six months of inventory is considered a balanced market.
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Information courtesy of RMLS.