Regular readers of the MS Las Vegas Real Estate Blog are well aware of the strong economic fundamentals that underpin the residential market in Southern Nevada. Let’s take a look at the performance data for Las Vegas homes in 2005 and see how things turned out. The median price of brand new single-family homes in Las Vegas clocked in at $345,130 in December of 2005. This represents a 19% increase from December of 2004. Please remember that this was supposed to be the bubble bursting year for Las Vegas homes! Overall sales activity for new Las Vegas homes set a record, with 30,750 purchases. The re-sale residential market also did quite well in 2005. The median price of re-sale Las Vegas homes in December of 2005 came in at $285,000. This is a 14% increase from December of 2004. Would you like more detailed information? Give The Sterling Team at Red Rock Canyon Realty a call at 888-349-2595.www.mslasvegasrealestate.com

This entry was posted by Michelle Sterling on Saturday, January 21st, 2006 at 2:52 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.