Throughout the month of September in Las Vegas, median home prices climbed to $140,000; that's up 13.5 percent from a year ago, according to the Greater Las Vegas Association of Realtors.

The housing market seems to have flipped focus from foreclosures to short sales; making short sales the current housing trend.  Short sales have increased to 45 percent of all house sales, leaving foreclosures at a lower 14 percent accountability rate.  Only one year ago, short sales accounted for one-fourth the market while foreclosures took the lead at half.  This flip-flop in housing trends proves to be significant for the current Nevada market.

This year so far there has been a notable 13 percent decrease in the sale of single-family homes, which was a 17.8 percent decrease from one year ago.  Declining housing inventory is accounting for the drop in sales, overall.  Cash buyers are accountable for close to 55 percent of housing transactions; with less homes for sale, housing list prices are increasing.  The average price of a a newly listed home is in the neighborhood of $155,000.  Up $25,000 from one year ago, that is a 19 percent leap upwards.  The townhouse and condo market improved in late September also, bringing the median price for a condo up to $70, 250.  That's a 24 percent increase from one year ago.

(Statistics based on date gathered from the MLS.)