The Las Vegas housing market remains steady as summer winds down. While national headlines point to a cooling real estate climate, locally we’re seeing a more balanced environment. Prices are holding, supply is increasing, and buyers are finding more room to negotiate.
Median Prices Holding Strong
The median sales price for single-family homes is $480,000, a modest 0.7% increase from last year. Despite more inventory hitting the market, home values continue to show stability—signaling confidence in the Las Vegas market overall.
Inventory on the Rise
There are 10,612 residential homes for sale, up 17.5% year-over-year.
For single-family homes, active inventory sits at 7,930, while condos and townhouses total 2,809 combined.
More homes on the market has pushed the median days on market to 24 days, a 41% increase from last year. Effective months of supply now sit at:
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3.9 months for single-family homes
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5.3 months for condos and townhomes
This marks a significant jump from a year ago, showing buyers now have more time and choice in their search.
Sales Activity
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Single-family homes sold: 1,835 (down 14.2% year-over-year)
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Condos & townhouses sold: 485 (down 15.4% year-over-year
While closings are down compared to last year, pending escrows remain consistent, showing that motivated buyers are still active—just more selective.
What This Means for Buyers
The pressure of past years is gone. With inventory up and homes spending more time on the market, buyers can approach the process with more confidence. Negotiations often include price adjustments, seller-paid closing costs, or other concessions. Patience is paying off.
What This Means for Sellers
The market is stable, but buyers now have choices. Homes that are overpriced or underprepared are sitting, while competitively priced and well-presented homes are moving. Success in today’s market depends on realistic pricing, polished presentation, and strategic marketing.
Brian’s Insight
“As a Las Vegas native, I’ve seen this market shift through many cycles. What we’re seeing now is a healthier, more balanced environment. Buyers finally have negotiating power again, while sellers who align with current market conditions can still achieve great results. It’s all about strategy.” – Brian Mercado
Thinking of buying or selling? Let’s connect and talk about your goals in today’s market.