LAS VEGAS (KLAS) — The median price for an existing home sold during Oct. 2021 was $410,000, a record-high amount and up from a median price of $340,200 in 2020, according to local realtors.
The price for condominiums and townhouses was $236,000 which is also a record, up 26.5% from one year ago, according to the monthly report from Las Vegas REALTOR.
The report said the local housing supply remains tight with around a one-month supply of properties available for sale. During October, nearly one-third of all homes sold were purchased with cash.
“Our home prices are still increasing, but they’re going up more gradually,” said LVR President
Aldo Martinez, a longtime local REALTOR®. “Even though we’re slowing down a bit, home prices are
still rising. Buyers looking for more affordable options have been turning to condominiums and
townhomes, as witnessed by the median condo price of $236,000.