REAL ESTATE BRIEFS

STATISTICS

Home sales up, prices continue to decline

Local housing statistics released by the Greater Las Vegas Association of Realtors reveal another month of declining home prices driving substantial spikes in home sales through the month of April.

The total number of local single-family homes sold in April was 3,198. That's up 7.3 percent from 2,980 in March and up 78.3 percent from 1,794 sales in April 2008.

The total number of condos and townhomes sold in April was 727. That's up 20.4 percent from 604 such sales in March and up 242.9 percent from 212 one year ago.

The median price of a single-family home sold in the Las Vegas area decreased by 4.9 percent during the month, from $149,000 in March to $141,720 in April. This current median price is down 39.9 percent compared to $235,875 in April 2008.

For condos and townhomes, the median sales price decreased 8.5 percent, from $70,500 in March to $64,500 in April. That's down 58.4 percent from $155,000 one year ago.

The number of local homes listed for sale through April decreased 3.1 percent for single-family homes, with 22,112 listed, compared to 22,812 listed for sale in March. That inventory of homes is down 3.6 percent from one year ago.

The number of condos and townhomes listed for sale also decreased for the month, down 2.7 percent from 5,884 in March to 5,724 in April. That's up 4.7 percent from April 2008.

For more information, visit lasvegasrealtor.com.