Las Vegas Home Sales, Prices Increase
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Kelley
(Mark Your Calendars: RealShare Apartments East, February 15th in Washington, DC).
LAS VEGAS-According to recent statistics release by the Greater Las Vegas Association of Realtors, there has been an increase in single-family home sales and prices in the Las Vegas area. According to GLVAR, the total number of local homes, condominiums and townhomes sold in November was 3,883, or two more sales than the 3,881 properties sold in October. November sales were also up from 3,510 total sales one year ago.
GLVAR also reports that more existing local homes were sold in 2011 than during any other year on record. GLVAR reported that 48,186 local properties were sold in 2011, including 38,153 single-family homes and 10,033 condominiums and townhomes. That breaks GLVAR’s all-time sales record set in 2009, when it reported 46,879 total sales, according to a prepared statement. In 2010, GLVAR reported 43,877 total sales.
GLVAR 2011 president Paul Bell, attributed the modest monthly price increase of single-family sales to a strong demand for housing in Southern Nevada, coupled with a decreasing supply. “I think there’s just less inventory, especially in areas where homes are really selling,” Bell says. “It’s much lower today than say four years ago, when we had almost 25,000 homes on the market.”
GLVAR also recently revealed that it is launching a program urging its nearly 11,500 members to make at least one extra purchase a month to help boost the local economy. New GLVAR president Kolleen Kelley, who took office Jan. 1, is encouraging GLVAR members and others to participate, even if they make just one small purchase every month that they had previously put off due to economic conditions.
“If we all just make more one discretionary purchase every month, it will help get our economy moving,” she says “Go to a movie. Go out to dinner one more time each month. Take your pet to the groomer. If we can add at least 11,000 purchases to the local economy each month, we’ll help generate local jobs and boost consumer confidence. It has to start somewhere.”
Categories: West, Residential, Acquisitions/Dispositions, Las Vegas
Natalie Dolce Natalie Dolce, editor of the West Coast region for GlobeSt.com and Real Estate Forum, is responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, Natalie was Northeast bureau chief, covering New York City for GlobeSt.com. Dolce’s background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats Arthur Frommer’s Budget Travel magazine, FashionLedge.com, Co-Ed magazine, and has also freelanced for a number of publications including MSNBC.com and Museums New York magazine. Contact Natalie Dolce.
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