LAS VEGAS (KLAS) — Home prices in Las Vegas dropped to $475,000 in August, down 3% since peaking at an all-time high of $490,000 in May and June, according to a report from Las Vegas Realtors (LVR).
Condominiums and townhomes were headed in the opposite direction, rising $9,900 since July (3.4%) to a median price of $299,900 in August. The all-time record for condos and townhomes is $315,000, set in October 2024.
LVR’s monthly report uses the median price, which typically reflects the middle of the market. Half of homes sell for more than the median price, and half sell for less. Only homes sold through LVR’s Multiple Listings Service (MLS) are included in the report. New construction and homes sold by their owners aren’t taken into account…