The median price of a Las Vegas resale sat at $406,500 for September. It was another record, but not by much...
“We always go into our slowdown once we get into the fourth quarter: October, November, December. You see fewer properties coming onto the market,” says Aldo Martinez, the President of Las Vegas Realtors, the trade group that tracks resales. He says the market remains healthy, but prices are taking a bit of a breather.
A median price of $406,500 is nothing to sneeze at, but a $1,500 monthly increase is a blip compared to what 2021 has seen: increases of $10,000 in February, $8,000 in March, $12,000 in April, $10,000 in May, $10,000 in June and $10,000 in July.
So, the market is pumping the brakes, not only on prices but on sales. In September, 3,209 single-family resales were sold. In August, it was 3,210, a one-house difference.
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DAN FRENCH
Realtor | Key Realty LLC
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