Las Vegas home sales on the rise in February

The number of home sales in Las Vegas area rose to its highest level for a February in six years, according to a new study by DataQuick News. New home transactions were at a four-year high and resale activity was the strongest the market has seen since 2005.

In February, approximately 4,230 condos and new and resale houses for sale in Las Vegas, NV closed escrow in the Las Vegas-Paradise metro area (Clark County). That is a 5 percent increase from January and an 8.9 percent increase from February 2011. While this resulted in a slight uptick in median home prices for the region, consumers are still able to find themselves a deal.

Out of the homes that reached closing, there were 3,744 were homes resold, which is a 5.1 percent increase from last year – the 14th consecutive month of annual gains and the highest number of February sales since the 3,875 in 2005. The improving industry is good news for current homeowners and homebuyers seeking to live in properties with a steady and positive market value.