The Greater Las Vegas Association of Realtors have put out some statistics for the month of June 2009 that I thought you might find interesting.
The average price of a single family residence in May was $172,000 & in June it was $167,000.
The average price of a townhouse in May was $90,000 & in June $91,000.
The average price of a condo in May was $81,000 & in June $84,000.
Yea, at least there were not any major fluctuations and single family homes only went down slightly. By these statistics it looks like Buyers are purchasing the less expensive townhouses and condos.
Real Estate is definately different now than any other time in my almost twenty year career. Each transaction is far more complicated because of short sales and foreclosures. The paper work is becoming phenominal. We are all hoping that normalcy returns soon.
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