Demand for Las Vegas Foreclosure Homes Remains Strong

The demand for Las Vegas foreclosure homes remain strong despite the slow pace of the housing market in August. According to market data, single family home sales totaled 3,229 in Las Vegas, Nevada in August. Last month’s figures were 14 percent lower compared with July sales of 3,738.

Also in August, the median home price sold in the area was $135,500, a drop of 2.4 percent compared with the previous month’s $138,800. The median price in August represented a 36 percent drop compared with the same month last year.

Sales of condominiums, town houses and homes dropped to 4,039 in August compared with 4,602 in July. Sales of town houses and condominiums dropped to 810 or 6.3 percent in August while the median price declined to $66,288 or 1.1 percent.

By Cassiano Travareli