By TONY ILLIA
BUSINESS PRESS

May 04, 2006

Valley home sales took an across-the-board shellacking in April. There were only 2,230 new homes sold last month, an 11.5 percent drop from March and 28.7 percent lower than a year ago, reports the Greater Las Vegas Association of Realtors.

Median home sale prices also softened to $310,000 in April, which is 1.7 percent less than the prior month, but still 5.1 percent higher than a year ago.

Home sales revenues, as a result, were just $815.4 million, or 14.9percent lower than in March and 26.4 off from a year ago. Condo/townhomes saw similar dismal results in April with only 522 sales, which is 19.2 fewer than in March and 29.2 percent less than in 2005. And median condo/townhome sale prices dipped to $202,000, a 1.5 percent drop from March, but still 11 percent higher than a year ago.

As such, condo/townhome sale revenue was $129.4 million, which is 12.4 percent less March and 9.3 percent off from a year ago.

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