Las Vegas December 2007 Home Sales Report
The Las Vegas area’s median home price in December sank to the lowest
level since early 2005, while sales declined on a year-over-year basis for
the 23rd consecutive month.
The median price paid in the Las Vegas-Paradise metro area (Clark County)
for all homes combined was $269,900 in December, down slightly from $269,990
in November and down 13.1 percent from $310,500 in December 2006, according
to DataQuick Information Systems of La Jolla, Calif. The firm tracks real
estate trends nationally via public property records.
The median sale price has fallen on a year-over-year basis for eight
consecutive months and is now 13.5 percent below the region’s peak $312,000
median reached in November 2006. December’s median was the lowest since
February 2005, when it was $269,289.
A total of 2,739 new and resale houses and condos sold in the Las Vegas
area in December. That was down 7 percent from 2,945 in November and down
52.6 percent from 5,780 in December 2006. December sales were the lowest for
that month since at least 1994, when DataQuick’s complete home sales
statistics begin for the Las Vegas area.