LAS VEGAS (FOX5) — The October report from Las Vegas Realtors shows housing prices in the Valley are still rising, but at a slightly slower pace than in previous months.
The median price for a single-family home in the Valley sold through their system was $410,000, according to LVR’s report, an increase of 20.5% from a year ago.
Condos and townhouses averaged $236,000, up 26.5%.
“Our home prices continue to rise, but they are rising more gradually,” LVR President Aldo Martinez said in a press release. “Even though we are slowing down a bit, house prices continue to rise. … As we’ve been saying for some time, the rate of appreciation we’ve seen this year has been great for homeowners, and low interest rates have been great for buyers.
The housing market remains tight, he said, and homes are selling faster than a year earlier.
By the end of October, LVR was reporting 3,287 single-family homes listed for sale without any sort of offer. The 583 condos and townhouses listed with no supply in October represent a 7.2% drop from a year ago.
LVR reported a total of 3,882 local existing homes, condos and townhouses sold in October.
More than 1,300 million-plus homes have been sold this year, double the amount sold in 2020 and triple the amount in 2018.
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