In 10 years, the price of a single-family home has tripled in Las Vegas

This 2016 photo shows a Las Vegas home for sale.

Tue, Mar 8, 2022 (5 a.m.)

The median sales price of a single-family home in Southern Nevada has more tripled over the past decade, according to a report released today by Las Vegas Realtors.

The median sale price of a single-family home in Southern Nevada was a record $450,000 in February, or 26.8% more than the median price in February 2021, according to the report. And in January 2012, the median price was just $118,000 during the recession.

“It remains to be seen how much higher these prices can go and when we might start to see the market stabilize, as many national experts have been predicting,” said Brandon Roberts, the real estate group’s president. “Either way, I seriously doubt you’ll see home prices more than triple again in a single decade.”

Additionally, the median sale price of condos and townhomes is up 31.6% from February 2021 at $260,000.

The report indicates 1,741 single-family homes listed for sale without an offer at the end of the February. The 316 condos and townhomes listed without an offer at the end of February represent a 53.2% decrease from one year earlier, according to the report.

A total of 3,183 homes, condos and townhomes were sold in February.

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