Las Vegas median home resale unchanged from August at $220K
The local market for existing homes continued to stabilize in September.
The median price of a single-family resale home in the month was $220,000 — unchanged from August, but up 8.6 percent from $202,500 in September 2014, the Greater Las Vegas Association of Realtors said Wednesday.
The median resale condominium and townhome price was $119,000, a 14.1 percent gain from $104,250 a year ago.
Local real estate agents sold 3,285 homes in September, up 10.2 percent from 2,982 closings in the same month of 2014.
"Our local housing statistics have become pretty predictable this year and more stable than they've been in several years," said association President Keith Lynam. "And stable and predictable are good things for homeowners and for the local housing market. It's certainly preferable to the real estate roller coaster ride we experienced over the past decade."
Distress-related closings fell in the month.
Short sales, in which a lender allows a borrower to sell a home for less than the mortgage, made up 6.8 percent of the local market, compared with 10.4 percent in September 2014. Another 7.1 percent were sales of bank-owned homes, down from 8.8 percent a year ago.
Contact Jennifer Robison at jrobison@reviewjournal.com. Find @_JRobison on Twitter.
