Clark County’s housing market continued to gain momentum in April, with the inventory of homes offered for sale shrinking to the lowest level in years despite a 12 percent increase in new listings, the Portland-based RMLS real estate listing service reported.
The count of 1,000 new listings in April was an increase from the 893 new listings in April 2014 and from the 959 new listings in March of this year. The upward climb is likely to continue, as the number of homes for sale typically increases in the spring. Last year’s peak was in May, with 1,115 listings. That was the largest number of new listings for the month of May since 2008.
RMLS recorded 671 closed sales in April, a 28 percent jump from the previous April. This April’s sales count was the highest since 2005, when there were 851 closed sales. Pending sales also were up, with April’s total of 854 well above the year-ago pending sales number of 701 homes. The count was down slightly from March of this year, when there were 884 pending sales.
The average time for a home to remain on the market was just 84 days, down by almost 20 percent from April 2014’s market time of 104 days. Additionally, the inventory of homes for sale was only 2.4 months in April, a significant drop from the 4.1-month supply of homes in April 2014. The March inventory was enough to last 2.6 months.
