Las Vegas Market Snapshot – March 2025
By Brian Mercado, Your Trusted Summerlin Real Estate Expert
As spring unfolds across the valley, the Southern Nevada housing market is waking up—with more buyers jumping back in, fresh listings hitting the market, and a noticeable rise in activity all around. March 2025 proved to be a pivotal month, setting the tone for what may be a strong season ahead for both buyers and sellers.
Buyer Confidence is Back
In March, 2,912 homes sold across the Las Vegas area—a healthy 17% increase from February. More telling, 3,384 homes went under contract, a nearly 19% bump month-over-month. These numbers suggest that many buyers are re-entering the market, motivated by new inventory and eager to act before competition intensifies in the summer months.
Inventory Rises, Offering More Choice
New listings climbed 11% from February and are up 16% compared to March 2024. Across all property types, available inventory has expanded significantly:
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Single-Family Homes: 6,015 active listings, up 24.35% YoY
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Condos: 1,405 active listings, up 31.80% YoY
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Townhomes: 974 active listings, up 69.39% YoY
For buyers, this means more selection and a less pressured environment than in recent years. For sellers, it means pricing and preparation matter more than ever.
Prices Hold Firm
The median price for single-family homes remained steady at $485,000 for the third month in a row—still up over 4% from this time last year. Condos and townhomes saw stronger annual appreciation, with a median sales price of $306,495, an 8.5% jump year-over-year.
A Balanced Market with Fast-Moving Homes
With 3.4 months of inventory, Las Vegas is currently in a balanced market—neither heavily favoring buyers nor sellers. Well-priced homes are still moving quickly:
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56.9% of single-family homes sold in 30 days or less
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54.2% of condos and townhomes sold in 30 days or less
What This Means for You
Whether you’re buying or selling, timing and strategy are everything. More inventory means more options for buyers, while sellers still benefit from strong prices and fast-moving homes—if listings are priced right and marketed well.
If you’re thinking about making a move this spring, let’s talk. I can help you take advantage of this balanced market, whether you’re ready to list, buy your next home, or simply want a game plan for later this year.