The Southern Nevada housing market recorded growing levels of home sales and new listings during October, according to data from Las Vegas Realtors.
A total of 2,458 existing homes, condos and townhomes were sold in October, up 12.9% year-over-year for homes and up 13.9% year-over-year for condos and townhomes. Last month saw 5,784 single-family homes listed for sale without any sort of offer in Southern Nevada, up 37.3% from one year earlier, while 1,799 condos and townhomes were listed without offers last month, up 50.5% year-over-year.
The median price of an existing single-family house sold last month in Southern Nevada was $475,531, a 5.9% increase from the $449,000 in October 2023 and close to the all-time high of $482,000 in May 2022.
Las Vegas Realtors President Merri Perry believed the conclusion of the presidential election should reanimate the housing market.
“It will be interesting to see what happens to the housing market now that the election is ending, since many national reports have suggested that uncertainty surrounding the election has made many would-be buyers pause their plans,” she said. “As this month’s report shows, recent trends are showing steady increases in inventory and sales surpassing last year’s levels.”
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