Despite monthly dip, Las Vegas home prices up 5.1 percent
The median home price in Las Vegas was 5.1 percent higher in October 2016 than one year ago. However, the monthly median home price dropped from $234,000 to $233,250 for September 2016. This was the third consecutive monthly price drop and yet the annual price growth is still positive.
There has been a tightening of the supply of homes in Las Vegas and yet the price of homes has been trickling downwards in the past 3 months. This market cooling is a normal pattern as we approach the winter and holiday season.
Read more in the Las Vegas Review Journal article.: