Las Vegas home prices continue to soar

Tuesday, March 23, 2004 | 11:02 a.m.

The median price of new and resale homes in the Las Vegas Valley soared in February over January and the year-ago month, two local research firms reported today.

The median price of a new local home in February was $210,795, a 13 percent increase from February 2003's $186,581. The median new home price in January was $204,487, Home Builders Research Inc. reported.

Research firm SalesTraq reported similar increases. SalesTraq reported a 14 percent increase in February's median new home price of $214,938 over February 2003's $187,965. The median price of a new home in January was $210,900, according to SalesTraq. Actual numbers vary from firm to firm because of differing research methods.

The median price of a resale home in February was $195,000, or almost 22 percent over February 2003's $160,000, Home Builders Research reported. In January, the firm reported a resale median price of $185,000.

SalesTraq reported that the median price of a resale home in February was $192,000, up 20 percent from February 2003's $160,000. In January, the research firm reported a resale median price of $181,000.