Las Vegas, NV (KXNT) – Valley home prices saw a bit of a dip in October, while the median price of a condo or townhome set an all-time record, according to new figures released Wednesday by Las Vegas Realtors.
The median price for a pre-existing, single-family home in October was $475,531. That’s down $5,000 from September, but an increase of 5% over October of 2023.
Condos and townhomes surged to a record median price of $315,000, a jump of $23,000 from September.
LVR said home sales are up compared to levels in October 2023. A total of 2,458 existing local homes, condos and townhomes sold in October -- up 12.9% for single-family homes and up 13.9% for condos and townhomes.
LVR also said they believed that a lot of home buyers and sellers were sitting on the sidelines waiting for the results from Election Day.
Inventories have grown from a two-month supply of houses for sale last October to a three-month supply this year.