Here is the Link to the 2012 April Las Vegas Real Estate Statistics. You can see things are changing and the most critical factor is the lack of housing inventory. This lack of inventory is effecting prices as well as the number of sales. Prices have gone up while transactions are going down. Well qualified buyers are having difficulty getting a home. Often once they fine a house the want they find themselves bidding against several other buyers. This typically leads to a higher than asking price sale price.
The big banks are in control of the inventory now. If they become more cooperative in short sale negotiations or if they release more property the market will even out. There are not enough equity sellers in Las Vegas to supply the inventory. Selling underwater homes would help the market as would across the board principal deductions.
April 2012 Las Vegas Real Estate Statistics
Chris LaHaie Realtor
List with Chris
Prudential Americana Group,
Las Vegas, NV