February 2023 Housing Statistics

February 2023 Housing Statistics

Local home prices aligned last month with more home available for sale and fewer being exchanged than last year.

The recent report from our Las Vegas REALTORS (LVR) shows that median prices of existing single-family homes sold in Southyern Nevada through the Multiple Listing Service (MLS) during February was $424,995. That is almost identical to the previous month, but down 5.6% from $450,000 in February 2022. It’s also down from the all-0time record price of $482,000 in May of 2022.

The median price of local condos and townhomes sold in February was $255,000, also matching what it was in January. That’s down 1.9% from $260,000 in February of 2022, and down from the all-time record price of $285,000 in May.

Our local housing market is looking much more balanced now than in those last few pandemic-filled years. Sellers are having less of an advantage as we inch our way towards the buyers market. What goes up must come down. The Real Estate Market especially is a cyclical experience. As any of us who were here in 2003, 2008, and 2015 will tell you.

Experience and knowledge means everything when buying or selling in the 21st century. DM me today to be connected to an informed professional on our United Elite Professionals team powered by Sundvick Realty. I can also link you to exceptional mortgage lenders that take their time to chart out the best strategy for your personal situation!

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