Las Vegas, NV (KXNT) – Las Vegas remains a popular destination, not just to play but to stay, as new numbers from Las Vegas Realtors show.
In a new report released on Tuesday, LVR says that the median price of a pre-existing single-family home in Las Vegas in June was $490,000, tying the all-time record high set in May.
For condominiums and townhomes, prices actually decreased from May to June, with the median price dropping from $295,000 to $292,000.
Year-over-year comparisons show single-family homes are up 1.0% from last June, but condos and townhomes are down about 4.3% over that same period.
A survey conducted by online broker Redfin showed that housing costs are near record highs because mortgage rates and sale prices remain stubbornly high, and inflation is pushing up the cost of living for other everyday expenses. Redfin says those factors are motivating people to move from expensive to more affordable areas.
Redfin’s survey also showed that Las Vegas was one of the top destinations for movers, along with Phoenix and Florida.
