Las Vegas Home Prices Up 24% in 2013

LAS VEGAS–Southern Nevada home prices ended 2013 on an upswing, with the median price of existing homes up 24% from the same time the year before, according to statistics released this week by the Greater Las Vegas Association of Realtors (GLVAR).

GLVAR reported that the median price of an existing single-family home sold in Southern Nevada during December 2013 was $185,000, up 1.1% from $183,000 in November and up 24.2% from December 2012, when the median price was $149,000. Meanwhile, the median price of existing condominiums and townhomes sold in December was $96,000, down 3% from $99,000 in November, but up 26.3% from $76,000 one year ago.