Tag Archives: Las Vegas Review-Journal

Las Vegas Housing Recovery Slows

October 20, 2013
Market: Las Vegas, NV

The Las Vegas MSA’s streak of 19 consecutive months of single-family home price increases finally came to an end in September. The median price fell 1.1% month-over-month to $180,000, still representing a 29% annual increase. According to reports from The Greater Las Vegas Association of Realtors this is the first monthly decrease since January 2012. Dave Tina, the organization’s president, lent some perspective to the situation: “We knew these rising home prices had to slow down sometime. This may be the beginning of more stable prices for the coming months.”

In terms of demand, of the 14,659 single-family homes that were listed for sale at the month’s end, 6,330 homes did not yet have an offer. That is That is a 12.8% increase in homes without an offer over the previous month and 60% increase year-over-year.

Read more at the Las Vegas Review-Journal.


In Las Vegas, Home Prices Jump over 30%

September 10, 2013
Market: Las Vegas, NV

Single-family home prices in Las Vegas made another double-digit, year-over-year leap, increasing 31.9% to a median home price of $182,000 last month, according to the Greater Las Vegas Association of Realtors. Prices for condos and townhomes increased 33.6% to $65,000, making August the 19th straight month that prices have increased over the prior year.

Traditional single-family home sales (those that do not involve foreclosure or a short sale) also increased in August, jumping to 67% of all sales. Short sales with a median home price of $148,000 and median foreclosure price of $157,000 stayed at around 25% and 8%, respectively, of all sales.

Read more at the Las Vegas Review-Journal.