The average sales price of homes in Las Vegas fell slightly for the month of October, although still significantly higher than they were a year ago.
The latest report from the Greater Las Vegas Association of Realtors shows the average price for existing single-family homes for the Las Vegas area in October was down 1.7 percent from last month to $295,025.
That price is still 12.2 percent higher than it was in October 2017. Chris Bishop, the association’s president, said the valley is almost up to a three-month housing supply, which would indicate a more balanced market.
Foreclosures and short sales accounted for just 3 percent of existing home sales in October.
