Home Builders Research reports a record 29,248 new-home sales for Las Vegas in 2004. This is an increase of 4,018 Las Vegas new home purchases compared to 2003, which is a 16% surge. The median price of a new Las Vegas home rose to $290,287 which is up 38.5% compared to 2003. Existing Las Vegas home sales also jumped significantly. The 2004 total was 64,168 which is a 29% increase over the 2003 figure. The median price of a re-sale home in Las Vegas is $250,000. Real estate in Las Vegas had a truly historical year in 2004. Gains this huge in such a short period of time are unlikely to be repeated again any time soon. However, the residential market is stable and strong thus far in 2005, and the Las Vegas economy has never been better. Las Vegas real estate continues to be a solid investment in a solid economy in a booming city. MS Las Vegas Real Estate is your local expert in the market for Las Vegas homes.

This entry was posted by Michelle Sterling on Saturday, January 29th, 2005 at 6:25 pm and is filed under 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.