Could the year be ending on a positive note for the Las Vegas real estate market? Since July, home sales in Las Vegas have risen when compared on a year over year basis and continued to do so right through October. Could November also prove to be another encouraging month?
Ladies and gentlemen, November marks the fifth straight month of sales gains for the Las Vegas real estate when compared to those of 2010. This was largely due to a strong surge in the number of Las Vegas homes sold for $200,000 or less which contrast with the lack of sales for homes above that price bracket.
While the news is welcome and looks poised to end the 2011 year on a high, it's important to note that prices for Las Vegas homes still remained flat, the median sale price averaging $115,000 for the third month in a row. Will December prove to be another month of year over gains? We'll have to wait until January to find out but it looks like it might be good news.