The prices in real estate in Las Vegas, in the Nevada region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Las Vegas has had a strong decrease during the last 6 months. In March, the average price per sq.feet was $1,197. In the following month the price per sq.feet decreased considerably to $601. The price for the following two months in (May, June) had a considerable decrease of 53 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 23 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $687 to $160 during July, and August.
Based upon to the price in Las Vegas (cities), this has gone downing the last 6 months. The average price for March is $438,722. During April the price had a slight fall till $400,406. During the following two months (May, June) the average price fell 95 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 93 %, going from $408,533 to $381,961 in July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $375,228 they are 55 % more affordable than the average price for Las Vegas. The properties with the highest average price have 4 bedrooms, Their price is 30 % more costly than the average. After that we have properties with 3 bedrooms priced at $347,588.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $131 / sq.feet, with an average $153 / sq.feet price in Las Vegas. The properties with the highest average prices have 1 bedroom. They are 59 % more expensive than the average followed by properties with 2 bedrooms with a price at $159 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $375,228 it is 53 % cheaper than the average price in Las Vegas. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "House". At a price of $411,176 it is 85 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $136 / sq.feet followed by "House" priced at $155 / sq.feet. "Land" is the most costly type of property with a $2,396 / sq.feet cost followed by "Commercial" with an average price of $1,472 / sq.feet.