Mei Loh-Becker
Mei Loh-Becker
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Las Vegas Real Estate Home Prices Report November 2015

The median price of existing single-family homes sold in Southern Nevada during November was $220,000, up 8.9 percent from $202,000 one year ago. November marked the fourth straight month that reported a median home price of $220,000.

Other highlights include:

  • The monthly value of local real estate transactions tracked through the MLS during November was more than $530 million for homes and nearly $81 million for condos, high-rise condos and townhomes. Compared to one year ago, total sales volumes in November were up 7.3 percent for homes and 24.2 percent for condos and townhomes.
  • In November, 68.2 percent of all existing local homes and 64.2 percent of all existing condos and townhomes sold within 60 days. That compares to one year ago, when 67.1 percent of all existing local homes and 64.3 percent of all existing condos and townhomes sold within 60 days.

GLVAR said 33.2 percent of all local properties sold in November were purchased with cash, up from 31.9 percent one year ago. Still, that’s well short of the February 2013 peak of 59.5 percent, indicating that cash buyers and investors are still more active in Southern Nevada than in most markets, but that their influence on the local housing market has been waning.

See a list of Active Las Vegas Listings on the Market

Data excerpted from Greater Las Vegas Association of Realtors Board

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