Las Vegas home prices are rising but there's still a shortage of houses for sale in the valley.
Southern Nevada now has less than a 3-month supply of home available for sale. The Greater Las Vegas Association of Realtors said a 6-month supply is considered a balanced market.
Right now, the average price of a single-family home is about $220,000. That was up 7.3 percent from $205,000 one year ago.
Meanwhile, the median price of local condominiums and townhomes, including high-rise condos, sold in March was $118,000. That was up 2.6 percent from $115,000 one year ago.
Local real estate agents said the tight inventory might be keeping prices up and making it harder for buyers to find the right home.
