September 2017 Residential Resale and Foreclosure Report

Single family median prices reached a new high of $265,000 in Southern Nevada during September 2017.

The latest price point reflects annual appreciation of 13.5 percent. Single family closings totaled 2,920 during the month, which was flat with last year, and effective availability stood at 1.9 months (down 27.0 percent).

The condo/townhouse market posted higher sales volumes and prices from a year ago, while inventory continued to decline.

Overall foreclosure activity has virtually halted in recent months as more homeowners achieve a positive equity position and overall fundamentals strengthen.

Resale housing market conditions are expected to remain relatively stable through the remainder of 2017.