Good News About Las Vegas Real Estate
Las Vegas based SalesTraq announced today that the Las Vegas Real Estate Market may have bottomed out and may be one of the first markets in the country to rebound from the foreclosure slump.
Although our prices did not rise in October they were very close to September price levels. New home median prices slid less than $4,000 to $249,000 and existing home prices dipped just $2,000 to $184,000.
Are we at bottom in terms of pricing? Hard to say. But many analysts feel that we are very close to bottom, as we again did not see a significant change in October’s housing prices from September and our sales volumes are increasing.
“Affordability” has become part of the terminology used to describe our market and this is a good thing – it’s bringing buyers and investors back into the market.
Here is a home with a lot of value for purchase or investment: list price is $142,600., which works out to $96. per square foot, Tile Roof, 3 Bedrooms, 2 Baths, Granite Counter Tops, Attached Garage on a 2,614 square foot lot in a nice neighborhood.
