Jackpot house sales in Vegas

Last month saw a massive leap in sales of town houses, condominiums and local homes according to data supplied by the Greater Las Vegas Association of Realtors (GLVAR).

Many other regions of the USA real estate market continue to be weighed down with a glut of existing homes languishing on the books of realtors and a shortage of buyers but residential real estate sales throughout Vegas came close to shattering the record for most sales in any given month during August.

GLVAR figures show the total number of residential properties, including condominiums and townhomes, sold during last month reached 4,693 just nine sales shy of the record number of 4,702 achieved during June 2009. This represents an increase of around 25 per cent compared to the same month a year ago which produced total sales of 3,638.

The largest increase was among single family homes which had climbed by more than 31 per cent during August, completed sales of townhomes and condos rose by more than 20 per cent from a year ago.