The median price of condos and townhomes in Southern Nevada fell to $279K in October, which is a 2.1% decline year-over-year.
Regional condo and townhome prices capped out at a median of $315K in October 2024.
Las Vegas Realtors recently released its October housing report, which found a decrease in home sales in October. Las Vegas Realtors cited high mortgage interest rates as the primary reason for the declining sales volume.
The average 30-year fixed mortgage rate was recently recorded at 7.18%. A year prior it was 6.22%.
Condo and townhome sales fell 23.6% YoY. October saw the sale of 1,895 existing single-family homes, condos and townhomes. Condo and townhome listings without offers increased 6.7% YoY to 2,837.
Single-Family Data
The median price of existing single-family homes increased 0.1% YoY to $475K. The record high median home price is $490K, which was set in May and June of this year.
Regional single-family home sales fell 11.9% YoY. At the end of the month, there were 8,112 homes listed for sale without offers, which is a 7.6% increase.
Overall home sales are on pace with 2025, which had the lowest number of sales since 2007. In 2021, a record 50,010 homes sold. (Source: Vegas Inc)
