By Dana Gentry, Nevada Current
Las Vegas home sellers saw a median profit of 53% in the third quarter of this year, down from 59.6% a year ago. The typical Las Vegas home sold in the third quarter had been owned for about eight and a half years, according to a new report from ATTOM, a real estate data analyst.
The median sale price of a home sold in Reno in the third quarter was $548,000, down from $555,000 in the second quarter, and down from $577,570 a year ago.
In terms of cash, the typical home sale generated a profit of $123,100, the report says, but notes “large disparities, with sales in the top major urban areas generating 18 times more in profit than those at the other end of the spectrum.”
The west coast swept the category of top large metropolitan areas with the largest raw dollar profits, with San Jose, CA leading the way with $740,500, followed by San Francisco, CA ($450,000); San Diego, CA ($350,000); Los Angeles, CA ($349,500); and Seattle, WA ($325,000).