The inventory of condominiums listed for sale in the Las Vegas area is the smallest it has been since 2004, said Chris Bishop, president of the Greater Las Vegas Association of Realtors.

The association reported 634 condos and townhomes were listed without offers at the end of January, a 21.8 percent decline from the same time last year. The median prices also increased 32.1 percent from last year to $149,888.

Also, 3,718 single-family homes were listed without an offer, down 36.5 percent from last year, according to the association.

Transaction prices in January for existing single-family homes averaged $265,000, a decline of 1.1 percent from December but up 11.3 percent from January 2017.

“It’s normal to see home prices dip down a bit this time of year,” Bishop said in a statement. “January is traditionally one of the slowest months for home sales and for home prices. This month’s report reflects that.”

In 2017, home prices increased by 14 percent over the previous year.

That upward trend should continue in 2018, as demand exceeds a shrinking housing supply, according to the association.

“It’s possible we could even do better than last year in terms of appreciation,” Bishop said.

Most NFL teams who built a stadium in the past decade have opened a preview center for fans, similar to the one the Raiders opened this past week, but the silver and black are the only ones who added a public element.

“We felt that was important so that people in Las Vegas and those that don’t know that much about the Raiders, as well as all the Raiders fans who will fly in, get a chance to see some of the history, some of the memorabilia we have here and get excited for the stadium project,” Raiders President, Marc Badain said.

Marc Badain had a big say in the design and look of the Raiders preview center, but he said what’s been done there is only the start.

“At some point we’ll do a Raiders Hall of Fame,” Badain said. “I wouldn’t say this is a Hall of Fame, but this is a good test for what a Hall of Fame could look like and the type of information we could share and the type of environment we could create for Raiders fans around the world as they come to Las Vegas.”

One of the big features in the preview center is a live and interactive firsthand look at the soon-to-be Raiders stadium on Russell Road. Set to open in the summer of 2020, Badain said it is right on schedule.

“Steel is going in the ground around April, the progress has been absolutely astounding and it’s been exciting for everyone on staff and everyone with the organization,” Badain said.

Excitement has grown in Las Vegas not just for the Raiders, but for future Super Bowls. The NFL begin to finalize future host cities as soon as next month.

“2023 through 2025 Super Bowls, I’m hopeful we’ll get one of those three. I don’t know if we’ll be the first one or the third one, but we’ll put our best foot forward and hope we get at least one of them,” Badain said.

The Raiders Preview Center is open seven days a week, Monday – Saturday, 10:00 a.m. to 7:30 p.m. and Sunday, 11:00 a.m. to 6:00 p.m. Admission is free and open to the public.