Las Vegas Sun

April 27, 2015

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Price of homes falls again in Las Vegas

Median price of new homes now at $149,000

The demand for Las Vegas homes jumped in March, but it continued to come at a price, with the value of homes dropping to their lowest level since the fall of 2001.

The median price of new homes sold in March was $149,000, a 4.2 percent decline from February. That’s 39 percent below where it was in March 2008, according to statistics released this morning by the Greater Las Vegas Association of Realtors.

The peak was $315,000 in June 2006. The GLVAR tracks homes sold by Realtors in Clark and surrounding counties, and some of those sales could include new homes.

There were 2,980 sales in March, a 30 percent increase over February and 102 percent jump over March 2008, according to the GLVAR. In the condo and town home market, there were 604 sales, a 37 percent increase over February. The median price, however, fell 6 percent from February to $70,500.

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