LAS VEGAS (KTNV) - The Greater Las Vegas Association of REALTORS reported Thursday that Southern Nevada home sales increased in August even as the local housing supply remained tight.
Meanwhile, GLVAR reported the median price of existing single-family homes sold during August through its Multiple Listing Service was $235,000. That was down slightly from $236,000 in July, but still up 6.8 percent from $220,000 one year ago.
GLVAR said the median price of local condominiums and townhomes, including high-rise condos, sold in August was $115,000. That was up 4.5 percent from $110,000 last year at this time.
According to GLVAR, the total number of existing local homes, condominiums and townhomes sold in August was 3,789, up from 3,454 total sales in August of 2015. Compared to the same month one year ago, 8.7 percent more homes, and 14.7 percent more condos and townhomes sold in August.
So far in 2016, local home sales are outpacing 2015, when GLVAR reported 38,578 single-family home, condominium, townhome and high-rise condo sales. That was more than in 2014, but fewer sales than during each of the previous five years.