The residential real estate market in Las Vegas continues to defy the “bubble theory” touted by so-called economic experts. The market for Las Vegas homes is posting statistics to die for! Wow, what a year for closings! How about a total of 27,442 through the third quarter, a 30 percent increase from the same period last year. The median price of a new Las Vegas home broke through the $300,000 barrier for the first time in September to $301,050. The median price of an existing single family home has just clocked in at $284,500. How does this sound for a bubble bursting? Las Vegas new home prices have increased 21.6 percent for the year so far, and existing home prices are up 20 percent. What’s going on? Regular readers of this blog are well aware of the strong economic fundamentals underpinning the housing market in Southern Nevada. Want to know more? Contact MS Las Vegas Real Estate for more information at 888-349-2595.www.mslasvegasrealestate.com

This entry was posted by Michelle Sterling on Wednesday, October 26th, 2005 at 5:32 am and is filed under Business & The Economy, Las Vegas Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.