Southern Nevada Home Sales Rise as Prices Hit Record Highs

Existing single-family home sales in Southern Nevada increased 11.4% in June compared to May and 18.3% year over year, with total sales reaching 2,823 units. George Kypreos and Las Vegas Realtors reported the median sale price for a house in the region remained at a record high of $490,000. However, national brokerages provided lower estimates, with Redfin reporting a median price of $453,639 and Zillow reporting $430,634.

While single-family home prices held steady, the median price for condominiums and townhomes fell 4.3% year over year to $292,000. Regional inventory showed an increase by the end of the month, with 7,147 single-family homes and 2,690 condos and townhomes listed without offers.

Kypreos attributed the sustained high prices to a combination of strong demand and tight housing supply, noting that local trends have recently mirrored national patterns where median home prices have reached all-time highs.