Valley home prices fall, but remain near all-time record

Las Vegas, (NV) - Southern Nevada home prices saw a bit of a dip in August, but remain close to an all-time record high.

New numbers released on Friday by Las Vegas Realtors showed that the median price of a pre-owned single-family home in August was just under $477,000, which was down $3,000 from July’s median price.

The all-time record is $482,000, set in May of 2022.

Prices for condominiums and townhomes also fell, with the median price at $292,000. That's $4,000 less than July's figure, which marked a record high in that category.

Home sales have been stagnant as of late, as both buyers and sellers have been scared off by high interest rates and a low inventory of available properties.