Las Vegas, NV (KXNT) – Las Vegas real estate prices continued to tick up in May, according to new numbers released Tuesday by Las Vegas Realtors.
The median price of a pre-existing single-family home in Las Vegas was $442,120 in May. That’s up almost 3% from April, but down 8% from May of 2022 when median prices hit an all-time high of $482,000.
Prices for condos and townhomes were up $5,000 from April to May, to $275,000.
About 77% of single-family homes listed on the market sold within 60 days, and about 79% of condos/townhomes sold that quickly. That's down from last year, when both figures were above 95%.
A combination of rising interest rates and more available inventory has meant flat of falling prices in recent months. May marks the second straight month that prices have seen a slight increase.