Showing posts with label Multiple Listing Service. Show all posts
Showing posts with label Multiple Listing Service. Show all posts

Friday, March 23, 2007

Las Vegas real estate getting pricier.

The stats are in for February. They're mixed, just like in the past several months. The median price of a new home rises 2.3% to $315,965. The numbers for an existing house are similar, up 2.4% to $289,000. The seller is reluctant to drop the price even when it means a longer wait to achieve a sale.

On the other hand, new home sales are way down from the same month a year ago. And the story mirrors that on the resale side, sales are down 27% from last year. The market remains soft. MLS shows over 21,000 listings in February, close to a 50% climb from 12 months ago. For those thinking about buying, you're calling the shots.