Las Vegas Home Prices Hold Steady at Record Highs
The Las Vegas housing market is showing remarkable consistency, with home prices holding at all-time highs for the third month in a row.
According to the latest report from Las Vegas Realtors, the median price of existing single-family homes sold in Southern Nevada during March was $485,000—unchanged from both January and February. That’s a 4.3% increase compared to March of last year.
For buyers looking at condominiums and townhomes, the median price came in at $306,495, up 8.5% year-over-year, though still shy of the $315,000 record set in October 2023.
“This is another indication of stability and how home prices have been increasing more gradually,” said Las Vegas Realtors President George Kypreos. “At the same time, home buyers are benefiting from more homes available for sale and a recent drop in mortgage rates.”
Inventory is on the Rise
By the end of March, there were approximately 5,416 single-family homes listed for sale without any offers—a 63% jump from March 2024. The condo and townhome market saw a similar surge, with 2,204 units listed without offers, up nearly 87% from the same time last year.
Sales Volume Holding Steady
In total, 2,712 existing homes, condos, and townhomes closed in March. Compared to a year ago, sales of single-family homes are up 2.9%, while condo and townhome sales have dipped slightly—down 3.4%.
Current Market Snapshot
We’re currently sitting at just under a three-month housing supply, which reflects an improvement from last year’s market, when inventory hovered closer to a two-month supply.
Whether you’re a buyer watching for opportunity, a seller looking to time the market, or just a local homeowner curious about what’s happening around town—this continued price stability and rising inventory suggest we’re moving into a more balanced market.
If you have questions about buying, selling, or investing in Las Vegas real estate, I’m always here to help.
Houses that are priced, presented & marketed correctly are selling fast.
Let my 33+ years of Real Estate experience in Las Vegas work for you. 702-378-7055
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Very Vintage Vegas does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your research and due diligence and obtain professional advice before making any investment decision. Very Vintage Vegas, will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
