Monday, Nov. 9, 2009 | 10:12 a.m.
After a two-month dip, home sales rebounded in October and prices continued to hold steady, according to statistics released this morning by the Greater Las Vegas Association of Realtors.
The GLVAR reported 3,535 sales of single-family homes in October, a 5.3 percent increase over September when there were 3,358 sales. Median prices rose nearly 1 percent to $139,100, the highest since it was $138,800 in July.
Sales of condos and town houses fell 1 percent in October to 850, but median prices rose 6.5 percent from $65,720 to $70,000, the GLVAR reported.
Demand for homes continues to be fueled by investors and first-time homebuyers. Cash buyers accounted for 42 percent of the sales.
The sales of foreclosed-upon homes declined in October, falling to 64.5 percent of the total. It was 67 percent in September.
The GLVAR tracks sales only on the Multiple Listing Service. It reported there were 20,998 homes listed at the end of October, about 1 percent higher than September. The GLVAR said there were 8,075 homes listed without offers, a 2 percent increase over September.
In October, owners listed 5,482 homes for sale, an 11 percent increase over September.
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