The median sales price for an existing home in the Las Vegas area reached $420,000 during November.
In establishing a new record high, prices are up 22% from November 2020, the report indicates. The mark is slightly up from October’s median sales price of $410,000.
Looking forward to 2022 home prices are expected to continue to inch up. We’re probably looking at more modest growth than the last couple of years.
The local condominiums and townhomes sold last month, the median price in the greater Las Vegas area was $240,000, which represented another record. Existing condos and townhomes went for a median price of just under $200,000 in November 2020, according to the report.
The market remains one of the tightest ever in the valley, with less than a one-month supply of homes available.
Homes Priced, Presented, and Marketed right are selling fast.
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