Las Vegas home sales rise amid modest uptick in inventory
Las Vegas home sales climbed last month amid rising inventory, although availability was far below last year’s levels, a new report shows.
Buyers picked up 3,284 single-family homes in Southern Nevada in August, up 4.5 percent from July and 5.9 percent from August 2016, according to the Greater Las Vegas Association of Realtors.
The median sales price of such homes was $260,000 last month, unchanged from July but up 10.6 percent from last August.
A total of 5,157 single-family homes were on the market without offers at the end of August, up 3.2 percent from July but down 32.1 percent year-over-year, the GLVAR reported.
Single-family houses dominate Las Vegas’ market.
The GLVAR reports data from its listing service, which largely comprises previously owned homes.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.
