Las Vegas November Median Prices

By
Real Estate Broker/Owner with RE/MAX Advantage

The Average Joe Index.  The greater Las Vegas area real estate values continue to trend down as high inventory, a slower sales season, and bank repos continue to pressure home prices.  Here are this month's numbers;

Home Size          Median         vs Nov 06      vs Peak (mo/yr)
1500sf                $236,500        -14.9%           -20.1%  (11/05)
2000sf                $297,450        -11.4%           -17.8%  (8/06)
2500sf                $338,995        -20.7%           -29.8%  (9/06)  

The Average Joe Median Index measures the values of homes in the sweet spot of the market - where the average Joe can buy.  This index removes the million dollar homes from the fray to reveal what the market is doing for the average homeowner.

 

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