REAL ESTATE BRIEFS

LUNCHEONS

Author to speak at Contractor's lunch

Author and journalist Geoff Schumacher will speak at the Nevada Contractors Association's quarterly luncheon Sept. 8, at the Rio All-Suite Convention Center, 3700 W. Flamingo Road. The event starts at 11:30 a.m. and is open to the public.

Schumacher is the author of "Howard Hughes: Power, Paranoia & Palace Intrigue," which was named a "Book of the Year Finalist" by ForeWord Magazine. Schumacher additionally writes a weekly public affairs column for the Las Vegas Review-Journal. Books will be available for purchase. An author signing will follow the luncheon.

To reserve a seat, call 222-0320. For more information on Schumacher, visit geoffschumacher.com

ICSC to discuss growth in Las Vegas

The International Council of Shopping Centers Inc. will hold the Las Vegas Next Generation Program featuring three companies discussing the growth potential in the Las Vegas market and what their site selection process entails on Sept. 17 at Maggiano's, 3200 Las Vegas Blvd., South. The event starts at 5:30 p.m.

For more information, call Jesse Tron at 646-728-3814 or e-mail jtron@icsc.org.

STATISTICS

GLVAR statistics show strong home sales

Housing statistics released Aug. 10 by the Greater Las Vegas Association of Realtors show local homes selling at a near-record pace at relatively stable prices, with the number of homes available for sale continuing to decline.

According to the GLVAR, the total number of local homes, condominiums and townhomes sold in July was 4,602. That's 100 fewer sales than June, which set an all-time record for local home sales in a single month. The number of sales in July still ranked as the second highest monthly total GLVAR ever recorded.

GLVAR statistics include activity through the end of July. The association distributes such statistics each month based on data collected through its Multiple Listing Service, which does not necessarily account for newly constructed homes sold by local builders or for sale by owners. This month's highlights include:

The total number of local single-family homes sold in July was 3,738, down 1.2 percent from 3,785 in June, but up 44.2 percent from 2,592 sales in July 2008.

The total number of condos and townhomes sold in July was 864, down 5.8 percent from 917 in June, but up 141 percent from 358 such sales one year ago.

The median price of a single-family home sold in the Las Vegas area in July was $138,800. That's down 0.9 percent from $140,000 in June and down 36.9 percent from $220,000 in July 2008.

For condos and townhomes, the median sales price increased slightly for the third straight month, rising 1.5 percent from $66,000 in June to $67,000 in July. That's down 50.4 percent from $135,000 one year ago.

The number of local single-family homes listed for sale through July decreased 0.9 percent to 20,423, compared to 20,613 homes listed for sale in June. That inventory of homes is down 12.8 percent from one year ago.

The number of condos and townhomes listed for sale also decreased for the month, down 0.7 percent from 5,416 in June to 5,378 in July. That's down 2.9 percent from July 2008.

The value of local real estate transactions tracked through the MLS during July decreased from the previous month, totaling more than $611 million worth of single-family home sales, down 3.6 percent from nearly $634 million in June and down 7.4 percent from one year ago. More than $75 million worth of local condo and townhome properties sold during July. That's down 4.3 percent from nearly $79 million in such sales during June and down 9.2 percent from one year ago.

Through July, 65.3 percent of all single-family homes and 64.2 percent of all condos and townhomes sold within 60 days. That compares to June, when 61.7 percent of all single-family homes and 57.2 percent of all condos and townhomes sold within 60 days.

The total number of local single-family homes sold in July was 3,738, down 1.2 percent from 3,785 in June, but up 44.2 percent from 2,592 sales in July 2008.