A record 50,010 residential properties were sold in Southern Nevada in 2021, according to a report today from Las Vegas Realtors.
That breaks the previous high mark established in 2011 by nearly 2,000 sales, the group said. And it smashes the total of 41,155 sales in 2020.
The record number of sales occurred despite rising prices. The median home price in December was an all-time high of $425,000, a 23.2% increase from a year earlier, according to the report.
“It’s remarkable, especially considering this record was set during a pandemic, when local home prices have never been higher and the housing supply has rarely if ever been lower,” Las Vegas Realtors President Brandon Roberts said in a statement.
The median sales price of condos and townhouses in December also set a record at $242,000, a 30.1% increase from $186,000 in December 2020.
The housing supply continues to be low in Southern Nevada, with less than a one-month supply of properties available for sale, Roberts said.