Las Vegas Home Sales Double

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September sales of existing single-family houses in the Las Vegas region more than doubled from a year ago as the median price paid for those homes dove 31%. Foreclosures rose to 82% of all resales, a real estate information service reported.

While the number of single-family houses resold in September shot up 123% from a year ago, the increase in overall transactions was more modest thanks to declining sales for newly built homes.

A total of 4,243 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area (Clark County) in September, up 4.8% from August and up 38.9% from September 2007, according to MDA DataQuick. The San Diego-based firm tracks real estate trends nationally via public property records.

Las Vegas-Paradise, NV
Median price	Sep-07	Sep-08	%Change
Resale houses	$282,500	$196,000	-30.6%
Resale condos	$180,623	$120,000	-33.6%
New homes	$310,290	$251,905	-18.8%
All home	$289,000	$205,000	-29.1%
Number of sales	Sep-07	Sep-08	%Change
Resale houses	1,303	2,901	122.6%
Resale condos	317	429	35.3%
New homes	1,434	913	-36.3%
All homes	3,054	4,243	38.9%
Source: MDA DataQuick, DQNews.com

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