Las Vegas Real Estate is heating up and its only March. This time last year we had less than 3400 single-family homes sold according to the local MLS. This year we seen an 18% gain in sold single-family inventory compared to last year at this time.
Prices on Las Vegas Real Estate has single family homes has drop another 5.5% compared to this time last year which is right in line with our predictions form 2011. The median price of a Las Vegas home is now $121,000.
Condos and town homes also depreciated 5% compared to the same time last year. Cash is still king around these parts with over 50% of homes sold in southern Nevada this February, which is consistent with what we have seen over the last 2 years. Another interesting fact is that almost 30% of Single family residential real estate sold in Las Vegas was a short sale, this is also a trend we recognized last year and reported on.
If you would like more information about buying in the Las Vegas Real Estate market please feel free to contact me at 702-542-1883 or leave a comment below today’s post. Be sure to subscribe to this blog before you leave and don’t forget to share this post with your friends on facebook and twitter.