LAS VEGAS (FOX5) -- The October report from Las Vegas Realtors shows housing prices in the valley still on the rise, but at a slightly slower pace than in months previous. 

The median price of a single-family home in the valley sold through their system was $410,000, LVR's report showed, which is up 20.5% from one year ago. 

Condos and townhomes averaged about $236,000, which is up 26.5%.

“Our home prices are still increasing, but they’re going up more gradually,” said LVR President Aldo Martinez in a press release. “Even though we’re slowing down a bit, home prices are still rising. ... As we’ve been saying for some time, the rate of appreciation we’ve seen this year is great for homeowners, and the low interest rates have been great for home buyers.”

Nevada - aerial

In this April 21, 2016 file photo, houses line streets near the edge of the Las Vegas valley in Las Vegas.

The housing market remains tight, he said, and homes are selling faster than the year prior. 

At the end of October, LVR reported 3,287 single-family homes listed for sale without any sort of offer. The 583 condos and townhomes listed without offers in October represent a 7.2% decrease from one year ago.

LVR reported a total of 3,882 existing local homes, condos and townhomes sold during October. 

More than 1,300 homes over $1 million have been sold this year, double of the amount sold in 2020 and triple the amount in 2018.

Copyright 2021 KVVU (KVVU Broadcasting Corporation). All rights reserved

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(1) comment

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Home prices are only slowing for a bit because as soon as the convention season heats up and new stadiums open plus new resorts slated to open next year, you can expect homes to double and triple especially in Henderson, Green Valley area which is like the Orange County of Las Vegas! Homes in this area are hot! We get offers daily of more than double but we are selling , are you kidding no way! This place is great and Green Valley has about all I need, in fact never go to the strip;))

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