There was a lot to give thanks for in November. The median home price for single family homes in Las Vegas increased 9.4 percent this November over last November, according to Ticor Title. Today the median home price hit $223,900!
Finally, reality has set in. Gone are the days in 2011 when you could buy a house and pay for just the land and maybe a bedroom or two when the median price was $180,000.
The average home sale price went up too. It rose by 11.1 percent year-over-yer to $273,210. (The median means half were above and half were below. The average is the sum of all of ’em divided by the count. That’s why the numbers are different.)
The only caveat in Ticor’s report was that the sales price versus list price ratio fell by 0.5 percent to 98.1 percent. Finally, sellers are getting more realistic when they first price their homes. This is good news too.
It sure took a long time, but things are now getting back to normal. That’s a great Christmas present.
P.S. The price at the top of the market in June 2006 was $305,800.
((hugs)) BETH Ellyn
The Las Vegas Real Estate Concierge
Managing State Broker, Nevada
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