Home Sales Report
June 1, 2005
How is the Las Vegas real estate market doing in 2005?
To gain an idea of the difference in markets between this year and last year, note the following:
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On June 10,2004 there were 5,459 single family and 600 condos on the market and the median close price was $247,000.
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As of May 29, 2005 there are 9,145 single family homes on the market and 1,211 condos with a median close price of $301,000.
This does not take into account any of our high rise activity where prices have topped $1,000 per square foot. Time on the market for listed property is steady in the mid 50 days. This means the average listed property has been on the market for that time period.
But for the first time ever, median price for single family homes has now topped $301,000! Courtesy of Equity Title, here is a graph of how home sales currently stack up around the Las Vegas Valley. Home Sales Report
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