The median sales price of a single-family home in Southern Nevada was $475,531 in October, a report released Nov. 5 from Las Vegas Realtors showed.
The new figures marked an 5.9% increase from $449,000 reported in October of 2023, the trade group’s data showed.
Additionally, the median sales price for condos and townhomes sold in October landed at $315,000, signifying a 14.3% increase from $275,500 in October 2023. Las Vegas Realtors said it’s a record high.
“It will be interesting to see what happens to the housing market now that the election is ending, since many national reports have suggested that uncertainty surrounding the election has made many would-be buyers pause their plans,” said Merri Perry, the group’s president, in a news release. “As this month’s report shows, recent trends are showing steady increases in inventory and sales surpassing last year’s levels.”
There were 5,784 single-family homes listed for sale without an offer at the end of October, the group reported. That’s a 37.3% increase from October 2023.
Additionally, 1,799 condos and townhomes had no offers — a 50.5% increase from last year.