A home for sale is shown in a residential area near Wigwam Avenue and Buffalo Drive Thursday, June 9, 2022.
Tuesday, Nov. 7, 2023 | 5 a.m.
There were 4,213 single-family homes listed for sale in the Las Vegas area at the end of October without an offer, according to a report released this morning by Las Vegas Realtors.
That’s down 46.7% from the same time last year to mark a decrease in sales, the report showed.
Still, transaction prices slightly increased with the median sales price of a single-family home at $449,000. That’s up 2% from $440,000 in October of 2022, but below the record of $482,000 established in May of 2022.
“We usually see home prices and sales cool down a bit along with the weather as we head into the fall and winter,” said Lee Barrett, the president of Las Vegas Realtors. “We’ll see how these traditional trends play out this year. Higher interest rates and a smaller housing supply are playing a bigger role than in past years.”
For townhouses and condos, the median price in October was $275,500, up 3.6% from $266,000 in October of 2022. That’s down from the all-time high of $287,000 in August.