Home sales in Southern Nevada picked up in June, report says

Southern Nevada home sales picked up in June compared to the previous month, according to Las Vegas Realtors.

The number of existing single-family homes sold in June was up 11.4 percent compared to May and up 18.3 percent year over year, according to the latest data from LVR.

The median sale price of a Southern Nevada house in June remains close to record highs at $490,000, according to LVR, which pulls its data from the Multiple Listing Service.

National real estate brokerages Zillow and Redfin, which also pulls data from the MLS has the Southern Nevada median sale price lower at $430,634 and $453,639, respectfully.

Redfin has the median sale price for a house in the U.S. at $408,838, a 2.5 percent increase year over year and a record high.

“Local home prices don’t always follow national trends, but they have been lately,” LVR President George Kypreos said in a statement. “Much like what we’re seeing here in Southern Nevada, the median home price in the U.S. recently hit an all-time high. Prices are staying at this level in part because of our relatively tight housing supply and the strong demand for homes here.”

New home listings continue to flood the market in Southern Nevada, as the number of available units on the market increased 1.3 percent from May of this year and 3.2 percent year over year.

LVR reported 7,147 single-family homes listed for sale without an offer at the end of June, a 2.2 percent increase from one year earlier. The 2,690 condos and townhomes that are listed for sale without any offers in June represent a 4.9 percent increase from one year ago.