Fewer Las Vegas homes sell, but prices are higher


A realty sign is posted in front of home in the Lakes neighborhood of Las Vegas, Dec. 2, 2011.

After nearly a year of flat prices, Las Vegas houses sold at a noticeably higher level last month amid shrinking sales totals, a new report shows.

The median sales price of previously owned single-family homes in Southern Nevada in May was $229,250, up 3.9 percent from April and 8.5 percent year-over-year, according to the Greater Las Vegas Association of Realtors.

Buyers picked up 2,708 single-family homes last month, down 3.9 percent from April and 1.6 percent from a year earlier.

Until last month, the median sales price of used single-family homes — the bulk of Las Vegas’ market — had hovered around $220,000 since June 2015.

By the end of May, 7,626 such homes were listed for sale without any offers. That's up 3.7 percent from April and 6.9 percent from a year ago, according to data from the GLVAR’s listing service.

Real Estate