Las Vegas Home Sales Slip in January

Las Vegas Home Sales Slip in January

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LAS VEGAS - January home sales in Las Vegas fell from December, but increased from the same time last year.

The Greater Las Vegas Association of Realtors reports 3,266 homes, condominiums and townhomes sold last month. That is a decrease of 22 percent from December, when 4,196 units sold. The January numbers, however, represent a 22 percent increase from January 2009.

GLVAR reports 21 percent of all existing home sales in January were short sales. "This suggests that lenders are more willing to work with homeowners and work out short sales as an alternative to foreclosing on homes," GLVAR President Rick Shelton said.

The median price of a home sold in January was $134,925. That is a drop of 0.8 percent from December and down 15.7 percent from 2009. The median sales price of a townhome or condo reached $69,000. That is an increase of 5.7 percent from December, but down 13.8 percent from last year.

View the January Real Estate Numbers

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