Southern Nevada home prices unchanged in December

Prices had increased for six straight months

Mitch Kelly
January 06, 2020 - 8:52 am
House sold with happy family in the background

Paul Bradbury/Getty Images

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Las Vegas, NV (KXNT) - It doesn't mean that the Las Vegas real estate market is cooling off, but a six-month streak of record home values came to an end in December.

New numbers released Wednesday by Las Vegas Realtors shows that the median price of an existing single family home was $345,000, unchanged from November's figures. Compared to November of 2019, however, the price is an increase of just over 10 percent.

Local condos and townhomes sold for a median price of $186,000 in December. While that’s down from November, it’s still up 4.5% from $178,000 in December of 2020

Buyers snapped up homes at a surprisingly high rate last month, with home sales increasing almost 9 percent from December of 2019.

Continuing to drive the price surge: More demand and less supply, combined with record low mortgage interest rates.