Where are Las Vegas home values in comparison to the peak of the market back in 2006?
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Are home values in Las Vegas back to the high they once were?
We look at two different figures to determine the answer to this question: the median sales price and the average sales price.
Examining those, we found that we’ve come up quite a bit in the last seven to eight years, but we haven’t quite reached the old peak.
As of 2017, our median sales price is $267,500, and the average sales price is $308,280. That is great because values have gone up, and we’re seeing them continue to go up.
Our high in the market was in 2006, where the average sales price was $391,000. We’re still a little bit off from that peak.
The good news is the market low was in 2011, where the median sales price was $134,000 and the average was $158,000. You can see our figures have doubled since the dip in the market.
Things are moving forward, and we’ll probably see values appreciating throughout 2018.
If you have any questions or would like more information, please feel free to reach out to us. We look forward to hearing from you soon.