Las Vegas Median Home Price from 2009 through 2015 for Single Family Homes & Condos –

Diving into the Single Family Home numbers one will notice that a downturn started in May of 2009 and then stayed relatively stationary during 2010 close to $135,000.  In 2011, the market dipped even more, down to around a median price point of $125,000.  In the year 2012 is when we saw an upward change in the market happening.  The 2012 year started at $118,000, but ended up at $149,000, with the Median price ending up at $132,393.  In 2013, we saw a significant jump from $150,000 in January, to $185,000 in December, for a Median price of $177,500 in 2013!  Continued growth happened for 2014, up to $199,450.

2015 is when the market starts to get interesting!  We saw an increase again in the Median price point up to $217,500, however, you will notice that the increase went up the first five months of the year, but then leveled out between June through December right at about $220,000.  Yes, the market went up again in 2015, however, for the last half of the year we stayed steady right around the $220,000 mark, even dropping a hair in December to $217,000.  So the Median was still up for the entire year at $217,500.  This will be very interesting to keep track of in the year 2016.  The next question is, will we see this number continue to increase or flatten out for a longer period of time?  Looking at the Median price points for the Condo’s in Las Vegas; those have very similar tracking statistics of the Single Family Homes except that the price point is different.

Whether you are thinking of selling your home or buying a home, I can’t emphasize enough how important it is to have a clear understanding of the trends in a current market.  This is very critical from a positioning standpoint when you are listing your home for sale or when you are putting together an offer for purchasing a home.  If you would like specific information about an area or subdivision in Las Vegas or Henderson, please e-mail, text, or call me at 702-427-9444.

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