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Nevada

LVR reports local home prices springing forward

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LVR reports local home prices springing forward


LAS VEGAS – A report released Tuesday by Las Vegas REALTORS® (LVR) shows local housing prices springing forward in April, with condo and townhome prices reaching a record high.

LVR reported that the median price of existing single-family homes sold in Southern Nevada through its Multiple Listing Service (MLS) during April was $469,000. That’s up 9.1% from $430,000 in April of 2023. However, local home prices are still below the all-time record of $482,000 set in May of 2022.

2024 LVR President Merri Perry
2024 LVR President Merri Perry

The median price of local condos and townhomes sold in April was $290,000, up 7.4% from $270,000 in April 2023. That’s an all-time high, surpassing the $287,000 mark set in August of 2022.

LVR President Merri Perry, a longtime local REALTOR®, said local home prices have remained resilient this year despite recently rising mortgage interest rates. Despite rising rates, she was pleased to see an increasing number of properties being sold last month.

“Mortgage rates have been slowing down home sales this year, so it’s good to see more homes and condos selling,” Perry said. “Overall, demand continues to outpace the supply of homes here in Southern Nevada, and that’s driving up prices.”

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By the end of April, LVR reported 3,476 single-family homes listed for sale without any sort of offer. That’s down 7.0% from one year earlier. Meanwhile, the 1,248 condos and townhomes listed without offers in April represent a 29.5% increase from one year earlier.

LVR reported a total of 2,960 existing local homes, condos and townhomes sold in April. Compared to April 2023, sales were up 19.2% for homes and up 16.1% for condos and townhomes. The sales pace in April equates to less than a two-month housing supply, which is similar to one year ago and considered low by historical standards.

According to LVR, 2023 was the slowest year for existing local home sales since 2008. LVR reported a total of 29,069 sales of existing local homes, condos and townhomes in 2023. That was down from 35,584 total sales in 2022. That followed a record year for existing local home sales in 2021, when LVR reported 50,010 total properties were sold.

During April, LVR found that 26.9% of all local property sales were cash transactions. That’s up from 22.3% one year ago. That’s well below the May 2013 cash buyer peak of 59.5%.

The number of so-called distressed sales remains near historically low levels. LVR reported that short sales and foreclosures combined accounted for 1.2% of all existing local property sales in April. That compares to 0.8% one year ago, 0.5% two years ago, 0.9% three years ago, 1.5% four years ago and 3.0% of all sales five years ago.

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These LVR statistics include activity through the end of April 2024. LVR distributes statistics each month based on data collected through its MLS, which does not account for all newly constructed homes sold by local builders or homes for sale by owners. Other highlights include:

  • The total value of local real estate transactions tracked through the MLS during April was more than $1.4 billion for homes and more than $193 million for condos, high-rise condos and townhomes. Compared to one year earlier, total sales values in April were up 35.4% for homes and up 28.5% for condos and townhomes.
  • In April, 83.0% of all existing local homes and 84.1% of all existing local condos and townhomes sold within 60 days. That compares to one year earlier, when 71.5% of all local homes and 75.7% of all condos and townhomes sold within 60 days.

About LVR

Las Vegas REALTORS® (formerly known as GLVAR) was founded in 1947 and provides its nearly 17,000 local members with education, training and political representation. The local representative of the National Association of REALTORS®, LVR is the largest professional organization in Southern Nevada. Each member receives the highest level of professional training and must abide by a strict code of ethics. For more information, visit www.LasVegasRealtor.com.



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Nevada

Court OK’s counting late-arriving mail ballots in Nevada, 29 other states

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Court OK’s counting late-arriving mail ballots in Nevada, 29 other states


LAS VEGAS (KTNV) — Nevada’s laws allowing the counting of mail-in ballots that arrive up to four days after Election Day — so long as they are postmarked by that date — is constitutional under a Monday ruling from the U.S. Supreme Court.

In a 5-4 ruling, justices upheld a challenge to a Mississippi law that’s similar to Nevada’s statute. Justice Amy Coney Barrett and Chief Justice John Roberts joined with the court’s three liberal members, Sonia Sotomayor, Elena Kagan and Katanji Brown Jackson, to uphold the law.

Conservatives Samuel Alito, Clarence Thomas, Brett Kavanaugh and Neil Gorsuch dissented.

The ruling affects 30 states, all of which allow some ballots received after Election Day to be counted. That includes Nevada, which allows ballots postmarked by Election Day to be received and counted up to four days later, and ballots without a postmark to be received and counted up to three days later.

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Plaintiffs in the case — including the Republican National Committee and the Mississippi Republican Party — had contended that federal laws referring to “elections” mean both the casting and counting of ballots, which they said must occur on Election Day.

“The federal election-day statutes do not preempt Mississippi’s law because the defining element of an ‘election’ has always been the electorate’s choice of candidate,” the case summary reads. “And a related federal statute — the Uniformed and Overseas Citizens Absentee Voting Act — confirms that while federal law dictates when ballots must be cast, state law governs when they must be received.”

In Nevada, critics have contended that late-arriving ballots erode confidence in elections, because they delay learning final election results for days and, in some close races, can change the outcome.

Gov. Joe Lombardo has called the weeklong wait for final, unofficial results “a national embarrassment.”

Plaintiffs in the case made similar arguments, but were turned away by the court: “Finally, plaintiffs policy arguments about election integrity and voter confidence are properly addressed to legislatures, not courts,” the case summary reads.

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Several attempts to require ballots to be received by Election Day have been introduced in Nevada’s Legislature, but none have been successful in the Democratically controlled body.

Secretary of State Cisco Aguilar has argued that the overwhelming majority of ballots are in and counted by Election Day, and only the closest races may be changed by late-arriving ballots. He’s advocated for more resources for county clerks and voter registrars to be able to count mail ballots more quickly.

Under the ruling, nothing will change for Nevada voters going to the polls in four months to vote in the November election. But officials still encourage voters to send in their mail ballots early, or to put them in drop boxes at voting centers during early voting or on Election Day.

Supreme Court upholds late-arriving mail ballots in Mississippi

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One dead, four hospitalized after head-on crash on I-15 in Clark County

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One dead, four hospitalized after head-on crash on I-15 in Clark County


LAS VEGAS (FOX5) — Nevada Highway Patrol responded to a two-vehicle crash on Interstate 15 near mile marker 94 Sunday evening.

The crash was reported at 6:43 p.m. on June 28.

MORE ON FOX5: Driver sustains life-threatening injuries in Las Vegas multi-vehicle crash

A passenger sedan and a pickup truck were involved in the crash. One vehicle was traveling southbound, lost control, crossed through the median, and struck the other vehicle head-on in the northbound travel lane.

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One adult male died at the scene. Two people were transported by ground ambulance, and two others were transported by life flight to a local hospital.

Road closures

All northbound I-15 travel lanes were closed at mile marker 94, but have since opened as of Sunday night.

Nevada Highway Patrol said further information will be provided following the preliminary investigation.

Copyright 2026 KVVU. All rights reserved.



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Officials elevate response efforts to combat eastern Nevada wildfires

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