Clark County Sales Stabilizing But Prices Still Dropping

Clark County Real EstateClark County home sales continued to stabilize in January, as a new type of cash buyer invested in the market. The month’s 319 home sales were on par with the 318 houses that sold in January 2010, and up 24 percent from January 2009, according to Vancouver-based Riley & Marks Inc.’s monthly “benchmarks” report.

Although fewer homes sold than during the peak of the housing boom, some say the numbers show that steady and consistent demand has returned.

Prices, on the other hand, fell 10 percent from a year ago when the median sales price — half sold for more, half for less — was $219,900 for all new and existing homes. Though down over the past year, that’s about even with December’s median of $197,850, “benchmarks” reported. That means, experts say, that the market is leveling out as bank-owned properties sell at bargain-basement prices.

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