The property prices definitely depreciated this year and I bought a great auction property there in December about $250k below what it sold for brand new two years ago. That being said, the number of sales there has not declined, there are just more properties to choose from at better prices right now. But I can feel the market starting to shift again, so if you have an interest in purchasing, go for it now! But if you have a property to sell, hold on for about a year and you should be in good shape.
In case you are interested, below is a link to properties currently for sale there.
Lake Las Vegas property is doing okay. The prices are not as high as they were last year and you see more home for sale than before. My company has listings in the area and have had to make changes to keep up with the market.
Lake Las Vegas property values are holding up well. It is still a higher-end market for people to move into. The reason for this is because of the location and tranquility it provides. It is the only area around the valley with a ritz-carlton hotel on a man-made lake! This market will probably keep their values up because of the luxury aspect.