The portion of homes sold to investors and others paying cash was at record levels, creating especially robust sales in the sub-$100,000 market. That helped push the median sale price down to a nearly 15-year low of $118,000, a real estate information service reported.
A total of 3,669 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area (Clark County) last month – the highest for a January since 2007. Last month’s sales tally was down 20.8% from December but up 9.9% from a year earlier, according to MDA DataQuick. The San Diego firm tracks real estate trends nationally via public property records.
On average, the region’s sales have fallen 24.2% between December and January since 1994, when DataQuick’s complete Las Vegas region statistics begin.
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