Las Vegas Home Sales Double

September marked the sixth consecutive month in which sales of existing single-family detached houses rose on a year-over-year basis.

Lower prices, especially among foreclosures, are fueling the recent burst in sales, which were the highest for a September since 2005.

The median price paid for all homes sold in the Las Vegas metro area was $205,000 in September, down 4.7% from $215,000 in August and down 29.1% from $289,000 in September 2007.

The median sale price has fallen on a year-over-year basis for 17 consecutive months and is now 34.3% below the region's peak $312,000 median in November 2006. September's median was the lowest since it was $200,000 in February 2004.

The median price paid for resale single-family (detached) houses fell to $196,000, down 30.6% from a year ago. That median was last below $200,000 in December 2003, when it was $193,000.