If you’ve been watching the Las Vegas housing market and feeling confused—you're not alone. Headlines seem to conflict: prices are up, but sales are down. Inventory is growing, yet affordability is stretched. So what does all this mean if you’re considering buying or selling in the Las Vegas area?
Let’s break it down, in plain language:
Record Prices... But Not the Whole Story
In March 2025, the median price for a new construction home in Las Vegas hit a record high of $530,000. That number grabbed a lot of attention. But just one month later, April’s resale median dropped slightly to $480,000, according to Las Vegas Realtors.
So, yes—new homes are commanding a premium, but overall prices are starting to stabilize. The key takeaway? Buyers are willing to pay more—but only if the value is there in design, energy efficiency, and location.
Sales Are Slowing, But Not Stopping
Sales of new homes have declined by about 10% year-over-year. At first glance, that might sound alarming. But consider this: while volume is down, weekly sales per community are holding steady. Builders are still selling, just more selectively.
Meanwhile, inventory is up nearly 79% year-over-year for single-family homes, and a staggering 91% for condos and townhomes.
Translation? Buyers have more choices, and sellers need to be strategic.
Builders Are Playing Smart
Builders know affordability is a challenge. That’s why many are offering incentives—sometimes up to 13% of the sale price, especially on quick move-ins. Think rate buydowns, closing cost help, or upgraded finishes.
That doesn’t mean prices are dropping—it means smart buyers are getting more value by working with the right agent (hi, that’s me).
A Market Searching for Balance
Las Vegas Realtors called it a "return to equilibrium," and that feels accurate. Median prices have barely moved—just 1% variation since January—and active listings are climbing. That’s the sign of a more balanced market.
Meanwhile, a report from UNLV’s Lied Center showed that Las Vegas has been underbuilding for 15+ years, meaning demand will likely remain strong long term.
What This Means For You
Buyers: You finally have breathing room. With more inventory and builder incentives available, this is a smart time to negotiate value without the pressure of a bidding war.
Sellers: Your window hasn’t closed. Homes are still selling—but pricing and presentation matter more than ever.
Investors: Long-term demand in Las Vegas remains strong thanks to steady migration, limited construction, and lifestyle appeal.
What To Do Next
If you’re over 50 and thinking about relocating, downsizing, or moving closer to family—this market might actually work in your favor.
I created two free guides to help you navigate:
Retirement in Las Vegas: What to know before you buy.
The Las Vegas Lifestyle Guide: Where to eat, shop, walk your dog, and more.
✉️ Download them now or message me for a private consult.
This isn’t a market to fear. It’s a market to understand—and I’m here to help you do exactly that.