Spring Home Sales Blossom in Las Vegas

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The Greater Las Vegas Association of REALTORS® (GLVAR) reported Wednesday that Southern Nevada home sales surged in March while prices remained stable.

GLVAR reported the median price of homes sold through its Multiple Listing Service during March was $205,000, unchanged from February, but up 5.1 percent from one year ago. Meanwhile, the median price of local condominiums and townhomes, including high-rise condos, sold in March was $115,000. That was up 9.5 percent from February and up 13.9 percent from one year ago.

According to GLVAR, the total number of existing local homes, condominiums and townhomes sold in March was 3,358, up from 2,452 in February and up from 3,094 one year ago. Compared to the previous month, GLVAR reported that sales were up 37.8 percent for single-family homes and up 33.7 percent for condos and townhomes. Compared to March 2014, sales were 6.7 percent higher for homes and 17.1 percent higher for all types of condos and townhomes.