Tuesday, Oct. 8, 2024 | 5 a.m.
The median sales price for condos and townhomes in Southern Nevada hit an all-time high in September, according to a report released this morning by Las Vegas Realtors.
The median price of $299,500 marks a 10.9% increase from $270,000 in September 2023 and beats the previous high of $296,000 set in July 2024, the trade group said.
Merri Perry, the group’s president, said last month’s interest rate cut should continue to help the housing market.
“The interest rate cut announced in September by the Fed can only help the housing market,” Perry said in a news release. “While I don’t think this will have a dramatic impact, it certainly helps people, especially prospective home buyers.”
The median sales price in September for an existing single-family home was $479,900, an increase of 6.6% from $450,000 in September 2023, the group said. The record of $482,000 was established in May of 2022.
The group says there are 5,458 single-family homes listed for sale without an offer — a 34.2% increase from last September. For condos and townhomes, there are 1,731 properties listed without an offer for a 67.2% for last year.