Valley home prices nearing record high

Las Vegas, NV (KXNT) – New numbers released Tuesday by Las Vegas Realtors shows a portion of the Vegas housing market hitting record levels, with another closing in on an all-time record high.

The median price for a previously-owned single family home in Las Vegas in September was $479,900, just shy of the all-time record of $482,000 set in May of 2022. The median price was 6.6% higher than September of 2023.

Meanwhile, the average price of a condo or townhome set a new record, with the median price rising to $299,500.

The valley’s housing market has been stagnant as of late. High interest rates have kept both buyers and sellers on the sidelines. The hope is that the recent lowering of interest rates by the Federal Reserve will help get the market moving again for both buyers and sellers.