The median price of a previously owned single-family home sold locally last month was $182,000, up 32 percent from a year earlier, according to a report out today from the Greater Las Vegas Association of Realtors.Sales prices have now climbed 18 of the past 19 months after bottoming out in January 2012 at $118,000.Last month, 67 percent of all existing home sales were traditional transactions between a buyer and a seller, the highest that ratio has been in several years. Twenty-five percent were short sales, in which banks agree to let homeowners sell their house for less than what’s owed on the mortgage, and the remaining 8 percent were sales of bank-owned homes, the GLVAR reported.
via Median sales price of single-family home is up 32 percent from a year ago – VEGAS INC.
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