Local home prices increase again for month of November
Las Vegas, NV (KTNV) -- Local home prices have increased again, according to statistics released today by the Greater Las Vegas Association of Realtors.
The median price of single-family homes sold in November was $146,000. That is up 4.3 percent from $140,000 in October and up 16.8 percent from one year ago.
Local home prices haven't appreciated this steadily since at least 2004.
“The median price of a home sold here in Southern Nevada has now gone up or at least stayed the same in 10 of the past 11 months,” said GLVAR President Kolleen Kelley, a longtime local realtor. “We haven’t seen such steady appreciation in several years.”
However, Kelley also said that local home prices and sales typically drop along with the temperature during the winter before rebounding in the spring.
The total number of local homes, condominiums and townhomes sold in November was 3,293. That number is down from 3,651 in October and down from 3,883 total sales in November 2011.