Nevada Housing Market Update – May 2019

Nevada Housing Market Update – May 2019 – Summary of Findings

• In the Las Vegas metropolitan area, Summerlin saw the most robust price growth in existing single-family home prices as prices increased 8.2 percent year over year. Henderson saw the next highest price growth as prices grew 7.0 percent year over year. Boulder City, which saw the most robust price growth in April 2019, saw prices decrease 2.2 percent year over year. Southern Highlands was the only other region where prices decreased (1.5 percent).
• All areas in the Las Vegas metropolitan area experienced a year over year increase in time on the market. Boulder City homes spend the longest time on the market, on average, at 111 days. Summerlin homes spend the least amount of time on the market at 78 days.
• New condominium prices in the Las Vegas metropolitan area saw an enormous 98 percent year over year increase and were $457,000 in May 2019.
• Average prices for existing condominiums increased 10 percent in the Las Vegas area. No Las Vegas metropolitan area saw a decrease in existing condominium prices.
• Laughlin saw the most robust growth of any major region in existing single-family home prices as prices increased 17 percent year over year. The Las Vegas metropolitan area saw prices increase about 4 percent year over year.

To read the entire Nevada Housing Market Update for May 2019 please click on the link: Nevada Housing Market Update – May 2019
For more information on The Lied Institute for Real Estate Studies at UNLV please click the link: Lied Institute for Real Estate Studies

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