Home prices stay hot, more inventory on market in Las Vegas Valley [Video]

LAS VEGAS, Nev. (FOX5) – The local housing market remains red hot.

Las Vegas Realtors reported that the median price for a single-family home during June was $475,000. That is up 7.7% from last year and approaching the record of $482,000 set in 2022.

Condos and townhomes are up to $295,000 which is up 7.3 percent from last year. This ties the all-time high set in May.

Las Vegas Realtors president Merri Perry says local housing prices have been going up even with mortgage interest rates increasing this year.

“Fortunately, our local housing market has been outperforming most of the country in a few key ways,” Perry said. “For example, home sales have been down nationally and approaching some of the lowest levels on record. Here in Southern Nevada, we’ve been selling more homes this year than we did last year. And unlike much of the nation, homes here have …