Las Vegas real estate blog with market conditions, news and availability of Las Vegas homes and condos as presented by RE/MAX Associates.
Las Vegas home median prices are falling. Median prices for existing and new homes dropped in February. This reporting was done by Larry Murphy of SalesTraq, which specializes in tracking the Las Vegas real estate market. The reports show that while prices did drop in February they are still substantially higher than this time last year.
According to the report new home median prices in February was $286,805, which is down 3.9% from January. That would sound great if only last year's median prices for February weren't $212,966. That is an increase in this year's median price of 34.7%.
Also resale of Las Vegas homes median prices dropped to $235,000 after remaining flat at $250,000 for the past seven months. So while there is still a lot to be done in the Las Vegas market, things are still looking good.
# posted by Las Vegas Homes Agent @ 11:37 AM
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