Las Vegas and Henderson Homes and Real Estate

The Greater Las Vegas Association of Realtors has recently reported the first year-over-year increase in home prices since 2007, which was the peak of the real estate boom in Las Vegas.

Rick Shelton, president of the GLVAR stated that the median price of single family home in Las Vegas was $142,000 in April, a 4.4 percent increase from March 2010 ($136,000) and a .2 percent increase over April of last year ($141,720).

Shelton said that the last time the GLVAR was able to report a year over year price increase was February of 2007, when the median price of a home was $310,000.  April's median sales price was also the highest average monthly price since April of 2009.

Short sales are continuing to rise as a percentage of local sales, up to 27% in April as opposed to 22% in February of this year.  At the same time, bank owned homes (foreclosures) are dropping each month down almost 10% this year and down to 43% of all transactions.  This is due to government programs encouraging banks to accept short sales over foreclosures to keep the housing market more stable.

The total number of single family homes sold in April was 2,951, a high rate that continues each month and should continue to rapidly bring recovery in this market.

Source:  GLVAR

If you are interested in Las Vegas, Henderson, Green Valley, North Las Vegas, Summerlin, Seven Hills, Lake Las Vegas, or Southern Highlands real estate, contact:

Michelle Natale
The Natale Team
Prudential Americana Group

www.natalesellsvegas.com

Michelle Natale leads a top 25 ranked team of agents for Las Vegas based Prudential Americana Group, the largest real estate brokerage in the state of Nevada. Michelle started her career in real estate over 10 years ago, and is ranked in the top 1% nationally in Prudentials national network since 2000.