Las Vegas home prices increase in November

The Greater Las Vegas Association of Realtors reported Wednesday that Southern Nevada home prices bucked seasonal trends and increased heading into the holidays while home sales continued to exceed last year’s pace.
 
GLVAR reported the median price of existing single-family homes sold during November was $240,000. That was up slightly from last month and up 7.9 percent from one year ago.
 
Meanwhile, the median price of local condominiums and townhomes sold in November was $120,000. That was up 20 percent from one year ago.
 
According to GLVAR, the total number of existing local homes, condominiums and townhomes sold in November was 3,244. That was up 30 percent from one year ago. Compared to the same month one year ago, 31.8 percent more homes, and 31.2 percent more condos and townhomes sold in November.
 
So far in 2016, Southern Nevada is on pace to sell more existing homes this year than during 2015 and during 2014, but fewer than during each of the previous five years.

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