The Greater Las Vegas Association of Realtors’ released its latest report on the local housing market Tuesday.
It shows the median home price for the month of December in Las Vegas was $295,000. That was nearly the same for the previous two months, but still up double digits from the same time a year ago.
The report says more homes are on the market and fewer homes are being sold but Las Vegas is still below what would normally be considered a balanced market.
“For those that are looking to buy, we’re seeing a little bit more in terms of inventory, a little bit more on the markets so the supply side is starting to open up a bit. They have a few more options as they start to look for a home and at the same time if there’s a seller, prices are somewhat elevated. That may be a good time to sell, as well,” said Brian Gordon, principal, Applied Analysis.
The GLVAR valued report says some of this slowdown is normal. Only time will tell how much of it is seasonal.