Decreasing home prices make Las Vegas a buyer’s market

Are you on the fence about buying one of the houses for sale in Las Vegas? Consider rethinking your nerves, because decreasing home prices in Las Vegas make this prime time for buying. According to the National Association of Realtors (NAR), the median home price in Las Vegas was $124,900 in March 2012. This is much lower than the $189,900 median for the nation, down 1.26 percent from home prices in the area on year prior, but up 1.63 percent since February 2012. Potential homebuyers should give significant thought to purchasing a property before prices go up too much more.

There were 20,837 homes on the market in the greater Las Vegas area in March 2012. While this number is high, it is down 20.67 percent than it was in 2011. Not only is there a lot to choose from, but the properties spend an average of 93 days on the market before they're bought up - above the national average of 89 days, according to NAR As a result, there is a lot to choose from and they are on the market for a significant amount of time.

If you are an equestrian lover and have a taste for luxury, consider the Green Valley or Henderson. Located in the southeast Las Vegas Valley, one section of Green Valley is zoned for horses and offers facilities, according to Las Vegas Neighborhoods. Other gated luxury communities include The Fountains and the Legacy Golf Course. These homes are large and often include a wide variety of comforts for the enjoyment of the owner.

Consider looking at homes in one of the many master-planned developments in North Las Vegas for an affordable price. Check out the picturesque area of Desert Shores for quality homes built in the 1980s and 90s. Featuring four interconnected man-made lakes and just 20-minutes from the Las Vegas Strip, this community provides ample opportunities for fun and relaxation. According to the source, fishing and using small watercrafts such as row boats, sculls and electric boats are popular - residents may even rent paddle boats during the spring and summer from the Homeowners Association.