Las Vegas Home Sales Climbed Again in November, But Median Price Stagnant

Nevada Real Estate“The number of homes sold in the Las Vegas area rose year-over-year for the fifth consecutive month in November as a surge in sub-$200,000 transactions made up for a decline in activity above that threshold. Prices appeared flat, with the region’s overall median sale price stuck at $115,000 for the third consecutive month.

The number of Las Vegas homes that resold rose 11.3 percent on a year-over-year basis, marking the 11th consecutive month in which resales have posted an annual gain. It was the highest number of resales for a November since 2009, and the second-highest since 2005. November sales of newly-built homes also rose from a year earlier, by 9.8 percent, but were still the second-lowest on record for a November. New-home sales have risen year-over-year for the past five consecutive months.

Total sales last month were 2.0 percent higher than the average number of homes sold in November since 1994, while resale activity (excludes new homes) was 45.5 percent above average for a November.

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