Las Vegas house prices slip, still higher than year ago

Las Vegas house prices and sales totals slipped last month from August but remained higher than a year ago, a new report says.

The median sales price of previously owned single-family homes in Southern Nevada in September was $233,500, down 0.6 percent from August but up 6.1 percent from September 2015, according to the Greater Las Vegas Association of Realtors.

Buyers picked up 2,927 single-family homes last month, down 5.6 percent from August but up 7.6 percent from a year earlier.

Meanwhile, 7,427 such homes were on the market without offers by the end of September, down 2.2 percent from August and down 8.7 percent from a year ago, the GLVAR reported.

The trade group reports data from its listing service, which largely comprises previously owned homes.

In a prepared statement, GLVAR President Scott Beaudry, owner of Universal Realty, said he’s concerned about the lower number of properties for sale – the supply of condos and townhouses, a much smaller segment of Las Vegas’ market than single-family homes, “is now as low as it has been in the past four years,” he said.

But, he added, “it’s good to see more homes being sold at prices that have been appreciating gradually over the past year or so.”