Clark County’s real estate market showed continued strength in July, with prices continuing to rise and inventory shrinking as buyers enter the market in growing numbers.
The July report from RMLS, a Portland-based real estate listing service, shows a 20 percent jump from a year ago in pending sales, with 762 for the month. That was a 6.4 percent increase from June, and the highest number of pending sales for July since 2005. The 655 closed sales for July were down 3.8 percent from a year ago but up by 2.8 percent from June.
While the number of residential listings continued to rise, they have not increased at a pace to meet the rising demand. RMLS reported 991 new listings in July, a 10.7 percent increase from July 2013. But the 3,548 total active listings for the month were up by just a half-percent from last July. At the current sales pace, that leaves an inventory of just 3.1 months.
The median sales price of $251,500 was up 6.1 percent from July 2013.
