The cost of buying a home in Southern Nevada has stayed steady over the past year, according to Las Vegas Realtors; however, there are fewer listings of homes for sale.
The median sale price of a single-family home in the Las Vegas Valley for September was $450,000—the same as September of last year, according to data from Las Vegas Realtors. The median price for condos and townhomes in September was $270,000, and this is the same median price as in September 2022.
While sales prices haven’t really moved from last year, the supply of homes on the market has dropped. There were around 4,066 single-family homes on the market for sale at the end of September.
In total, 2,374 homes—including townhouses and condos—sold in September, according to Las Vegas Realtors. The total value of the home sales was more than $1 billion, and in the condo and townhome arena, the total value of sales was $159 million, a 4 percent increase from last year.
Many would-be homebuyers are being cautious due to high mortgage rates. There are also many homebuyers moving to Las Vegas from other states, and they are looking to purchase homes. If you are looking to sell your home now speak to Robin Smith of the Smith King Team- 702-460-5080 or robin@smithteamlasvegas.com
Keep in mind that whether you are interested in buying a home or selling a home, a Realtor should represent you. This person is working for your benefit and will help you navigate through the buying or selling process. We have celebrated selling both New and Resale Homes for over thirty years.
We are here to answer any questions you might have; just email robin@smithteamlasvegas.com
ISellLasVegas!
Thanks, and make it a terrific day.
The Smith King Team
