I recently saw the latest Las Vegas housing market numbers released by the Greater Las Vegas Association of REALTORS® and thought I’d share them on this blog for interested readers.
From the GLVAR’s latest release:
[T]he median price of single-family homes sold…during October was $199,900. That’s down 1.3 percent from $202,500 in September, but still up 8.1 percent from one year ago. … GLVAR’s median local home price is still well below the June 2006 peak of $315,000. Single-family home prices bottomed out at a median of $118,000 in January 2012 before increasing by 24 percent per year in 2012 and 2013.
For comparison purposes I’ve placed the comparable numbers for the Reno-Sparks market alongside those metrics for Las Vegas in the table below.
| metric | Las Vegas | Reno-Sparks |
| October 2014 median sales price | $199,900 | $260,000 |
| Percent change from September | down 1.3% | up 8,8% |
| Percent change from October 2013 | up 8.1% | up 21% |
| Housing bubble peak median price | $315,000 (June 2006) | $365,000 (Jan 2006) |
| Housing collapse bottom median price | $118,000 (Jan 2012) | $112,000 (Jan 2012) |
| October median compared to peak | 36.5% below | 28.8% below |
| October median compared to bottom | 69.4% above | 132% above |
See the Greater Las Vegas Association of REALTORS® October market statistics here.
St. George Utah MLS real estate
St. George Utah’s real estate market went to the same vacillation. We saw a spike up from the bottom of the 2007 real estate debacle, when investors were buying REO real estate in massive portfolios. Once the distressed property was mostly consumed, it left the average owner wondering when their prices would bounce back to the early 2000 levels; which may takes quite some time, at least in southern Utah. Conversely, our neighboring Mesquite Nevada real estate market has been relatively stable.
The ebb and flow of real estate seems to have become more stable recently, while prices are down… buyers are still shopping.
Guy Johnson
Thank you for your comment, St. George Utah MLS real estate.
newest west coast property agent
After home value plunges in both Vegas and Reno, they were among the steepest during the bust, however this time around these two gaming meccas are returning to a more stable growth patterns this year.