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Median Vegas-area home prices reach $200K in July

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LAS VEGAS (AP) — Southern Nevada home prices continued their steady climb in July, reaching $200,000 for the first time since August 2008.

The Greater Las Vegas Association of Realtors reported Friday that median home prices ticked up a fraction of a percent since May, and have risen more than 11 percent from July 2013.

Association chief Heidi Kasama calls it a milestone, but notes that median home prices are far below their June 2006 peak of $315,000.

Area median home prices bottomed out at $118,000 in January 2012.

The total number of single-family homes listed for sale on the association's Multiple Listing Service in July was about 13,700.

That was down just under 1 percent from more than 13,800 in June, and just under 3 percent from a year ago.

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