Valley home prices tick up in April; Condos set new record high

Las Vegas, NV (KXNT) – The median price of a pre-existing single-family saw a slight rise in April, according to new figures released Tuesday by Las Vegas Realtors.

The median price of $469,000 was a $4,000 increase over March.

Condos and townhomes set a new record median price of $290,000, topping the old record of $287,000 set in August of 2003.

Home sales have been stagnant lately, as the combination of high prices, limited inventory, and high interest rates are keeping both sellers and buyers out of the market. Last week, the average interest rate for a 30-year mortgage was 7.2%, almost three times just a few years ago.