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Existing home sales hit record numbers

More existing homes were sold in Southern Nevada during June than during any other month on record, according to statistics released by the Greater Las Vegas Association of Realtors.

According to the GLVAR, the total number of homes, condominiums and townhomes sold in June 2009 was 4,702. That tops the previous record month of 4,414 total sales set in June 2004.

In addition to breaking the five-year-old housing sales record, GLVAR’s monthly statistics show local housing prices remained stable while the number of properties listed for sale continued to decline.

GLVAR statistics show the median price for single-family homes sold in June mirrored May’s median price of $140,000, comparable to prices in 2001.

GLVAR statistics include activity through the end of June. Statistics are based on data collected through its Multiple Listing Service, which does not necessarily account for newly constructed homes sold by local builders or for sale by owners. This month’s highlights include:

The total number of single-family homes sold in June was 3,785, up 16.3 percent from 3,255 in May. That’s up 70 percent from 2,226 sales in June 2008.

The total number of condos and townhomes sold in June was 917, up 24.4 percent from 737 in May. That’s up 211.9 percent from 294 such sales one year ago.

For condos and townhomes, the median sales price increased slightly for the second straight month, rising 1.5 percent from $65,000 in May to $66,000 in June. That’s down 52 percent from $137,500 one year ago.

The number of local homes listed for sale through June decreased 2.7 percent for single-family homes, with 20,613 listed, compared to 21,181 listed for sale in May.

The number of condos and townhomes listed for sale also decreased for the month, down 2.8 percent from 5,572 in May to 5,416 in June. That’s down 2.2 percent from June 2008.

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