LAS VEGAS – Wrapping up the most stable year the local housing market has seen in at least a decade, the Greater Las Vegas Association of REALTORS® (GLVAR) reported Thursday that existing local home prices posted a 6.4 percent increase for the year as more homes sold in 2015 than in 2014.
GLVAR reported the median price of existing single-family homes sold during December in Southern Nevada through its Multiple Listing Service (MLS) was $217,000, up 6.4 percent from one year ago. The price dipped slightly from November to December after holding steady at $220,000 for four straight months from August through November.
Meanwhile the median price of local condominiums and townhomes, including high-rise condos, sold in December was $117,900. That’s up 12.3 percent from one year ago.
There was a total of 38,578 single-family home, condominium, townhome and high-rise condo sales. That was up from 35,806 total sales in 2014.
According to GLVAR, the total number of existing local homes, condominiums and townhomes sold in December 2015 was 3,290, up from 2,734 in December 2014. Compared to the previous year, 20.4 percent more homes and 20.0 percent more condos and townhomes sold in December 2015.
(Excerpted from GLVAR)