Las Vegas, NV (KXNT) – Despite more inventory on the market and a slower pace of sales, valley home prices tied a record high in June, according to new numbers released Tuesday by Las Vegas Realtors.
According to LVR, the median price of a pre-existing, single-family home in Las Vegas in June was 485,000, up $5,000 from May.
The median price for a condo or townhome was $305,000.
It’s estimated that Las Vegas has a roughly four-month supply of homes currently on the market, twice what it was for the same month one year ago.
Compared to last June, though, single-family homes aren't as quick to sell in today's market. LVR figures show 82.8% of homes are selling within 60 days, compared to 86.9% last year. For condos/townhomes, 60-day sales are down to 72.8% compared to 83.0% last year.