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Greater Las Vegas Home Prices Up 13 Percent Annually in January

February 06, 2019 / Monsef Rachid

Based on a new report by the Greater Las Vegas Association of Realtors, the median price for existing single-family homes sold in Southern Nevada during January 2019 was an even $300,000. That's up 13.2 percent from $265,000 in January of 2018. The median price of local condos and townhomes sold in January was $170,000. That was up 13.4 percent from January of 2018.
"Just when you thought these double-digit increases might become a thing of the past, it's interesting to see the median home price go back up again," said 2019 GLVAR President Janet Carpenter. "The last time our median home price hit $300,000 was in September. Before that, you have to go all the way back to 2007 to see a median price that high. We usually see local home prices and sales decline in January, which is traditionally one of the slowest months for the local housing market."