Bargain pricing and abundant supply fueled a home sales surge in February, said the Greater Las Vegas Association of Realtors. There were 3,053 single-family homes sold last month, a 17.8% increase from a year ago. Condo and townhomes saw 741 sales in February or 12.3% more than in January. “Local home sales remain strong and above the record sales pace we set in 2011,” said GLVAR President Kolleen Kelley. “At the same time, we’re seeing fewer homes available for sale each month, especially bank-owned homes. With the supply of homes going down, it makes sense that the median price of homes went up last month.” Median home sale prices were $121,000 last month, which is 5.5% less than in 2011.GLVAR: Home Sales Surge in February
Bargain pricing and abundant supply fueled a home sales surge in February, said the Greater Las Vegas Association of Realtors. There were 3,053 single-family homes sold last month, a 17.8% increase from a year ago. Condo and townhomes saw 741 sales in February or 12.3% more than in January. “Local home sales remain strong and above the record sales pace we set in 2011,” said GLVAR President Kolleen Kelley. “At the same time, we’re seeing fewer homes available for sale each month, especially bank-owned homes. With the supply of homes going down, it makes sense that the median price of homes went up last month.” Median home sale prices were $121,000 last month, which is 5.5% less than in 2011.
