Las Vegas Real Estate: Year End Production Numbers

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

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