Las Vegas home prices last month rose from May and sales totals climbed even faster, a new report shows.
The median sales price of previously owned single-family homes in Southern Nevada in June was $235,000, up 2.7 percent from May and 6.8 percent from a year earlier, according to the Greater Las Vegas Association of Realtors.
Buyers picked up 3,248 single-family homes last month, up 19.9 percent from May and 6.3 percent year-over-year.
The GLVAR reports data from its listing service, which largely comprises previously owned homes.
“It’s shaping up to be a strong summer for our local housing market, and I think most of our members are optimistic that we can continue this momentum in the coming months,” GLVAR President Scott Beaudry, owner of Universal Realty, said in a news release.
Until a few months ago, home prices had been largely flat for almost a year.
According to the GLVAR, the median sales price of previously owned single-family homes — the bulk of Las Vegas’ for-sale market — hovered around $220,000 from June 2015 through April this year.