The Average Joe Index. The greater Las Vegas area real estate values continue to trend down as high inventory, a slower sales season, and bank repos continue to pressure home prices. Here are this month's numbers;
Home Size Median vs Nov 06 vs Peak (mo/yr)
1500sf $236,500 -14.9% -20.1% (11/05)
2000sf $297,450 -11.4% -17.8% (8/06)
2500sf $338,995 -20.7% -29.8% (9/06)
The Average Joe Median Index measures the values of homes in the sweet spot of the market - where the average Joe can buy. This index removes the million dollar homes from the fray to reveal what the market is doing for the average homeowner.
Las Vegas market news and statistics. RE/MAX news for the Las Vegas marketplace. Facts, figures, and opinion
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