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Las Vegas Residential Real Estate

The Las Vegas Residential Real Estate Market is still booming! The February 4, 2005 Las Vegas Real Estate Report electronic publication reports that 2004 proved to be an even more exceptional year.

For in Dec. of 2003, median range for a single-family home price cost $181, 738.00, but in 2004 of the same month, the median range was $275,000.0. This is an unprecedented increase of 51%!

Although, the same report predicts the market will slow down, it is still vigorous. This makes it easier for those home buyers who may have seen their choices snatched away from them by other prospective buyers. With the slowdown, one can think and pause carefully about ones' choices.

As for real estate investors, you can still buy, as the market is active.

Another independent research and publication the Home Builders Research has reported a record 29,248 new home sales for Las Vegas in 2004. This is an increase of 4,018, or 15.9 percent, from the previous year.

With regards to condominium sales, the median price rose in December by 1.2% to $170,000. Although the average condo price fell 7.7% to $187,470. This is in comparison to selling situation of December of 2003, where condo units sold at an average of $ $115,000.00 with the median price range at $ 132,000.00.

For those who keep predicting that the Las Vegas residential real estate market is about to fall off, they should look at the trends. The commercial and residential real estate markets are supported by Las Vegas' dynamic business climate and steady job employment levels fueled by the transfer of more corporations attracted by the low taxes and other business incentives offered by the city government.