Greater Las Vegas Association of REALTORS reported the inventory of townhomes, condos, and single family homes for sale in Las Vegas, Nevada in February increased.
The Las Vegas MLS shows 19,639 homes for sale on the multiple listing service, up 11 percent from 17,675 in February 2006 and up 4.6 percent from 18,774 in January. Townhomes and Condos for sale increased 8 percent to 5,524 from 5,116 in January and up from 5,216 or 34 percent from last February.
The number of new listing on the mls have dropped in the past few months with the total listings are over 25,000.
Single family homes sales dropped 21.3 percent to 1,407 homes in February from the same month a year ago.
The townhomes and condos market were off 12.9 percent in February and 42.8 percent in 2006. There were a total of 277 condo sold in February.
The median price of a single family home sold in Las Vegas real estate went up to $310,000 in February. There was a 2.6 percent increase from January.
The median price of a condo for sale in Las Vegas is $204,000 and is slightly down from the previous month.
Resale prices have dropped $5,000 from a year ago to $280,000.
$537 million was the total dollar value for February’s sales, a 3.3 percent increase from January.
Las Vegas homes sales figures and Las Vegas mls numbers for February.