Change from Jan.-Sept. 2006 to Jan.-Sept. 2007
In comparing 2007 activity with 2006, please note that 2006 was a year of unprecedented new-home sales - 2006 sales represented an 18 percent increase compared with 2005 sales; and an 80 percent increase compared with the area's recent historic average of 20,000 new-home sales per year.
|
New Home Sales*
(traditional housing) |
11,674 |
Down 48.9% |
|
New Home Permits |
11,526 |
Down 39.3% |
|
Existing Home Sales |
20,563 |
Down 38.7% |
|
New Home Median Price* |
$304,790 |
Down 8.4% |
|
Existing Home Median
Price |
$262,377 |
Down 8% |
Metro Las Vegas Housing Fast
Facts
Median price of a new home -
$308,161
Median price of a
resale home - $275,000
Number
of active subdivisions - more
than 500
Average price per
square foot (detached) - about
$175.43
Average square footage
(detached) - 2,322
Average building lot size -
4,550 square feet
How Many Homebuilders Are There?
At the end of 2006 , there were
77 traditional homebuilding
companies (built 5 or more
single-family, detached homes in
2006) operating in Southern
Nevada, down 20 percent compared
with the 97 homebuilding
companies that existed in 2005;
and down 56% from the high of
179 homebuilders in 1996.
Sources: Home Builders Research
Inc.,
www.homebuildersresearch.com
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