Report: Las Vegas home prices, supply continue to rise in May – Fox 5 Las Vegas

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LAS VEGAS, Nev. (FOX5) – Las Vegas home prices, as well as the number of homes available, continued to rise in May, according to new real estate data.

A report released by Realtors on Thursday shows that the median price of existing single-family homes was $473,000, up 7% from May 2023. The report also notes that the prices are still below the May 2022 record of $482,000.

Condos and townhomes prices sat around $295,000, up 7.3% from May 2023 and surpassing April’s price of $290,000.

By the end of the month, 3,869 single-family homes were listed for sale without any offers, up 6.1% from last year. Additionally, 1,324 condos and townhomes were listed without offers, marking a 43.1% increase from last year.

In total, 3,091 existing homes, condos, and townhomes were sold in Las Vegas in May.

“Although the demand for housing here in Southern Nevada continues to outpace our supply, increased sales and inventory are positive signs for consumers and our members,” LVR President Merri Perry said.

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