Las Vegas prices continue to drop

Monday, February 27, 2012

Las Vegas prices continue to drop

Property prices in Las Vegas have continued to fall, with prices down an average of 11% from 2010 according to the monitoring service SalesTraq.

The price drop, which has affected 56 areas of the gambling city, follows a 6% decline in 2010 and 23% slide in 2009.

And the company's President Larry Murphy believes that prices could potentially fall even further, with another 10% expected to be shaved from the asking price of the average home, bringing the median home price below $100,000. Bank repossessions continue to pull the prices down in many of the neighbourhoods.

The low asking price of many properties has made Las Vegas a popular site with bargain hunters, with many overseas property buyers beginning to snap up property at the unusually low prices, leaving many mid- market homes without a buyer. Prime properties have continued to hold their value.

There will be a host of American exhibitors at A Place in the Sun Live, as well as a dedicated Florida Pavilion bringing together agents, developers and experts from the Sunshine State. The exhibition takes place at between the 30th of March- 1st of April 2012 at London Earls Court. Advance tickets are available to book now, priced at two for £15 and include a FREE six-month subscription to A Place in the Sun magazine.


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