GLVAR releases report

GLVAR August statistics show the number of homes on the market beginning to level off, with a slight increase in the number of single-family homes for sale and a slight decrease in condominiums and townhomes listed for sale.

This month's GLVAR statistics include activity through the end of August. The association distributes statistics monthly based on data collected through its Multiple Listing Service, which does not account for newly constructed homes. This month's highlights include:

The median sales price of a single-family home sold in the Las Vegas area increased 1.7 percent from $295,000 in July to $299,900 in August. That's down 3.9 percent from last August.

The total number of local single-family homes sold in August was 1,316. That's down just 0.2 percent from the 1,318 homes sold in July. On an annual basis, the number of homes sold declined 37 percent from August 2006. For condos and townhomes, 285 units were sold in August, down 5.9 percent from 303 sales in July.

The number of local homes listed for sale through August increased only 1.1 percent for single-family homes, with 24,341 homes listed for sale, compared to 24,087 homes listed for sale in July. That's up 19.4 percent from August 2006.

The number of condos and townhomes listed for sale actually declined by 0.8 percent from 6,269 in July to 6,221 in August. That's an increase of 23.4 percent from the number of condos and townhomes listed in August 2006.

For condos and townhomes, the median sales price in August dipped 2.6 percent from $195,000 in July to $190,000 in August. That's down 8.0 percent from last August.