Las Vegas Median Home Price Surge 23.3% Year-Over-Year

hamilton-zanze February 10, 2014

The median single-family home price in Las Vegas was $185,000 in January 2014—up 23.3% from January 2013. The median price for townhomes and condominiums also rose 23.3% to $92,500 over the same time period.

The numbers reflect a significant improvement in the Las Vegas housing market. Cash sales made up 46.3% of existing-home sales in January, indicating a return of investor activity in the market. Distress sales are a much smaller percentage of existing-home sales—in 2013, 62% of sales were traditional sales compared to only 37% traditional sales in 2012.

“For the most part, I think these stable prices are an indication of a fairly healthy housing market,” said Greater Las Vegas Association President Heidi Kasama.