Las Vegas Home Sales Rise as Home Prices Fall in April

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Las Vegas Home Sales Rise as Home Prices Fall in April

house-market-isolatedGreater Las Vegas Association of Realtors (GLVAR) reports that the number of home sales in April increased 3 percent from March. There were over 3,000 Las Vegas homes sold last month which is a decrease of several hundred from last year. Compared to April last year home sales are down about 14 percent.

For over 40 percent of the used homes sold last month buyers paid cash. This is a 20 percent drop compared to last year which is a representation of the decrease in spending by local investors.

GLVAR President Heidi Kasama said that she is not surprised to see home prices leveling off because over the last two years home prices have been rising fairly rapidly.

In February the median home prices were $195,000. In April the median price was $192,000. This is a decrease of 1.5 percent in two months, but an increase of 15 percent since April 2013.

Also, reported by GLVAR, single-family homes inventory more than doubled since last year with over 6,000 of them on the market last month without any offers.

There isn’t much of an increase in the home sales, but in comparison to last year Las Vegas is making a slow turn around in the Real Estate Market. Homeowners are eager to get more and more money for their homes since the change in the market from last year, but unfortunately the investors are just not biting.


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