Sales, prices and time on market in Vegas getting worse

[Jack B.]

My realtors automated email just sent me this:

This month in the Clark County, NV market, sales decreased to 2,543 homes sold. This shows a 12% drop compared to the prior month. Prices are also falling in the market, as the median sales price dropped from $291,000 to $284,900. During the last 30 days, sellers have been able to make good on their asking price (98% list-to-sale price ratio, with a median list price of $289,000 in this area). In this market, there are currently 6,627 active listings. Compared to last month, homes stay on the market for about 53 days, up from 50.