The Las Vegas Valley (includes Henderson & North Las Vegas) has seen some major market stabilization in the last year!  Absorption for December 2008 is a healthy 8.6 months of inventory (compare it to 22.5 months inventory in Nov/Dec 2007!)  Be warned, the market as a whole is considered a "neutral market" ~ not a buyer's market, not a seller's market.  Some micro-markets (ie,Foreclosures Bank Owned, REO) are extreme seller's markets where there is no mercy to the buyers, multiple offers are the norm!  Here is a snapshot of valley listings: (Nov/Dec 2007)  All SFR, Townhome, Condo Listings: Listings (12/9/2007):  25691 Under Contract (12/9/2007):  2304 Sold November:  1137 Month's Inventory:  22.5 (Jan/Feb 2008)  All SFR, Townhome, Condo Listings: Listings (2/10/2008):  23665 Under Con... 12/11/2008