Median sales price of previously owned Las Vegas home reaches $240K

Las Vegas’ housing market last month had a jump in prices and an even bigger rise in sales totals compared to the same time last year.

The median sales price of previously owned single-family homes — the bulk of the market — was $240,000 in November in Southern Nevada. That was up 2.9 percent from October and 7.9 percent from November 2015, according to newly released data from the Greater Las Vegas Association of Realtors.

Buyers scooped up 2,535 single-family homes last month, down 0.4 percent from October but up 31.8 percent from last November.

According to the association, sales prices “bucked seasonal trends” last month.

In a statement, GLVAR President Scott Beaudry, owner of brokerage firm Better Homes and Gardens Real Estate Universal, said prices were flat last November and that prices typically dipped before the holidays in prior years.

The GLVAR reports data from its listing service. Since October, the group says, it has published figures based on a new methodology and tracking system. Because of that, some data in this report “may vary slightly” from past GLVAR findings.