Housing & Real Estate
Sales Traq reported 901 new home closings in January 2008 at a median price of $275,000. Existing home closings totaled 1,061 for the month, with a median price of $247,000. Resale listings on the MLS decreased for the 5th consecutive month, and home prices are showing signs of stabilizing.
According to Applied Analysis, land prices in Las Vegas rose 21.8% in the fourth quarter of 2007 to $1.51 million per acre. Off-Strip prices reached $939,400 per acre, up 20.1% from the fourth quarter of 2006.
Population & Market Growth
Nearly 5,700 people surrendered out-of-state driver's licenses at the DMV in February 2008, bringing the 2008 new mover total to more then 11,000 per the Nevada Department of Motor Vehicles.
Viva Las Vegas!!!
