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.
|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.