If you've been watching the Las Vegas real estate market—or waiting for the right moment to make your move—this just might be it.
According to the latest May 2025 Housing Report from the Las Vegas Realtors Association, the market is finally shifting in favor of buyers. After years of a red-hot sellers’ market, the tide is beginning to turn.
Let’s break down what’s happening—and what it could mean for you.
Median Home Prices Dip From Record Highs
The median price for existing single-family homes in Southern Nevada came in at $480,000 for May. While that’s still a strong number—up 1.5% from May 2024—it’s a noticeable decline from the record highs we saw earlier this year in January, February, and March.
This cooling in pricing, even if modest, may be the opening that savvy buyers have been waiting for.
Inventory Is Rising Fast
Here’s the real headline:
More than 6,600 single-family homes are currently listed without any offers. That’s a 71% increase compared to this time last year.
And it’s not just single-family homes—condos and townhomes are seeing a surge in availability too, with inventory up 89% year-over-year.
What This Means for Buyers
With more options on the market and a slight slowdown in sales pace, buyers now have:
More choices
Increased negotiating power
Time to make thoughtful decisions
This is a meaningful shift from the ultra-competitive seller’s market we've experienced in recent years—where bidding wars and waived contingencies became the norm.
If you’ve been feeling sidelined by fast-moving deals or rising prices, this new environment could offer you the opportunity to re-enter the market with more control and confidence.
Ready to Talk Strategy?
If you're wondering how to make the most of this market—whether buying or selling—I'm here to help you make informed, empowered decisions.
Let’s connect for a strategy session tailored to your goals.
Book a call with me at JenniferGraffRealtor.com or DM me on Instagram @thenewhomeexpertslv