I occasionally get asked about the Las Vegas housing market, and how it compares to the Reno/Sparks market. So today, I thought I’d share the latest housing numbers out of Las Vegas. [Note: Though I am a Nevada licensed real estate salesperson, I do not personally serve the Las Vegas real estate market. However, I know some excellent REALTORS® who do serve that market. If you are looking to sell or buy in Las Vegas or Henderson, let me know — I’ll connect you with a great agent there.]
The Greater Las Vegas Association of REALTORS® has released June’s housing market numbers for the Southern Nevada housing market. Click this Las Vegas Review-Journal piece to see all the numbers: Home prices increase slightly after three-month holding pattern
From the Las Vegas Review-Journal piece linked to above:
GLVAR reported that the median price for existing single-family homes sold in Southern Nevada through its Multiple Listing Service (MLS) during June was $304,000. That’s up 4.8 percent from $290,000 in June 2018. Meanwhile, the median price of local condos and town homes sold in June was $177,900. That was up 6.5 percent from June 2018.
For comparison, the above paragraph, re-written to describe Reno/Sparks’ June housing market would read: The median price for existing single-family homes sold in Reno/Sparks Nevada through its Multiple Listing Service (MLS) during June was $400,000. That’s up 4.7 percent from $381,950 in June 2018. Meanwhile, the median price of local condos and town homes sold in June was $241,000. That was up 12.1 percent from June 2018.
Prices for condos in Reno/Sparks are increasing nearly twice as fast as condo prices in Las Vegas.