As the holiday season approached, the Las Vegas housing market continued to display stability, with median home prices holding steady for the fourth consecutive month. According to Las Vegas REALTORS® (LVR), the median price for single-family homes sold in Southern Nevada in November was $450,000. This figure matches the median price recorded since August and aligns closely with November 2023, showcasing consistent market resilience.
For condos and townhomes, the median price in November was $270,000, maintaining the same value as October and remaining comparable to last year’s figures. These consistent numbers highlight a market that has found balance despite broader economic pressures and seasonal slowdowns typically seen in the latter months of the year.
Inventory levels continue to tighten, adding to the competitive landscape for buyers. At the end of November, just over 3,200 single-family homes were available for sale without current offers, reflecting a 45% decrease from the same time last year. Condo and townhome listings also saw a similar decline of nearly 35%, emphasizing the ongoing challenges in finding available properties.
While transaction volumes remain below pre-pandemic levels, the consistent pricing trend offers stability for both buyers and sellers. As we head into the new year, this steadiness provides a solid foundation for the Las Vegas housing market to build upon.
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