LAS VEGAS (AP) — A new trade organization report says Southern Nevada home prices hit a record mark in June and sales increased dramatically from the previous month even as the coronavirus pandemic continues.

Home prices in the Las Vegas Valley continued to rise as the year came to an end, according to the Greater Las Vegas Association of Realtors.

The group said fewer existing homes were sold in Southern Nevada during 2019 compared to the previous year. 

The median sales price of a home in the Las Vegas Valley remained flat again for the third month in a row.

According to the latest report from the Greater Las Vegas Association of Realtors, the median price of a home was $300,000 in May, unchanged from April and March.

Las Vegas home prices fell last month, the first drop since the Great Recession.

Prices were down 0.2-percent in April, with a median price of about $280,000, according to new figures from real estate company Zillow.

Las Vegas’ realtor association has predicted improved sales this spring

But the Las Vegas Review-Journal reports that resales are still well below 2018 levels, and the number of ignored listings remains much higher than it was a year ago.

The median sales price of homes in Las Vegas from November has remained flat since the previous month.

The Greater Las Vegas Association of Realtors released its monthly report this week showing the median sales price of a single-family home in Las Vegas was $295,000.

The price of homes in Las Vegas continue to rise and experts say they don’t see that trend coming to an end any time soon.

The greater southern Nevada region has been named the most overvalued housing market in America.

According to a report from Fitch Ratings, home prices in Las Vegas are increasing at nearly twice the rate in the rest of the country.