According to the Greater Las Vegas Association of Realtor (GLVAR), 2,185 homes were sold in November, which represents a 125% increase from November 2007. That’s the (very) good news.
Here’s the bad (but not unexpected) news: if you’re a Las Vegas homeowner, the median price of a house dropped 32% from November of 2007, to $186,000.
On the plus side, I would suggest that a median price of $186k makes for a pretty reasonable price to live in an area as large as the Las Vegas Valley. What’s really good news is that houses are moving quicker off the market. In November, 47.4% of homes sold within 30 days.