There are approx 7,953 homes for sale in the Las Vegas area that do not have offers on them per the local MLS.

This is for single family homes without contracts on them.

Our pendings and homes with contracts on them are approx .... 11,634

The Las Vegas area homes available for offers has continued to drop again this past month largely in part to the foreclosure law law AB 284 that took effect on October 1, 2011.

Las Vegas Short Sales are approx 44% of the homes for sale on the market while foreclosures have dropped to about 16% of the homes on the market for sale.

The rest are equity sales that are typically flips,

 (homes that are bought at the auction then put back on the market for sale)

Going into the buying season with lower inventory means buyers need to be ready to put that best offer in on the first try as we are already seeing multiple offers again.

Home price are still historically low so that is also fueling the investors to buy here in Las Vegas.