Based on the latest Las Vegas Residential Housing Market Data, Las Vegas home prices overall have slowed just a bit compared to September however are still higher than a year ago.
Appreciation rate slow down is typical as we move into the cooler fall months.
The median closing price for single family homes increased by 13.4% since October 2016. The median closing price for condos and townhouses increased by 19.7 % since October 2016.
Current housing inventory remains low at 1.6 months. Buyers for Las Vegas homes still struggle with the low supply of homes for sale in the Las Vegas Valley.
A Seller’s Market for all home types: Single Family Homes, Condos, Townhouses, Hi-Rises. In October, the Hi-Rise inventory dropped compared to September. Hi-Rise market status has changed from its Balanced market status last month to a Seller’s market this month.