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 December, the average price per sq.feet was $1,619. In the following month the price per sq.feet decreased to $1,500. The price for the following two months in (February, March) had a considerable decrease of 53 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 31 % 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 $1,189.5 to $365.5 during April, and May.
Based upon to the price in Las Vegas (cities), these have remained the same in the last 6 months. The average price for December is $447,526. During January the price had a slight fall till $396,430. During the following two months (February, March) the price has had an average incrementation from $421,978 to $460,651.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $441,314.75 and $440,566.5 between April and May.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $446,591 they are 65 % more affordable than the average price for Las Vegas. The properties with the highest average price have 4 bedrooms, Their price is 4 % more costly than the average. After that we have properties with 2 bedrooms priced at $414,929.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $163 / sq.feet, with an average $173 / sq.feet price in Las Vegas. The properties with the highest average prices have 2 bedrooms. They are 61 % more expensive than the average followed by properties with 1 bedroom with a price at $232 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of $446,591 it is 25 % cheaper than the average price in Las Vegas. "House" is seen as the second most affordable property type. The dearest property type is "Condo" followed by "Office". At a price of $477,105 it is 9 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $169 / sq.feet followed by "Office" priced at $195 / sq.feet. "Townhouse" is the most costly type of property with a $7,079 / sq.feet cost followed by "Condo" with an average price of $382 / sq.feet.