Las Vegas Real Estate Market Stats from September

Below are some interesting statistics comparing September of 2008 to September of 2009 for the Las Vegas real estate housing market:

While prices are markedly down 30 to 40%, sales volume has actually increased significantly and inventory has dried up, especially in the starting price ranges.

In September of this year Las Vegas foreclosure sales were 67.1% of the month’s resales, down from 68.4% in August, while absentee buyers accounted for a record 40.4% of September's sales, up from 40.2% in August. 53.8% of mortgage-financed purchases used FHA mortgages, up from 52% in August. The average median sales price for the same time period in 2006 was just slightly over $300,000.