By Jennifer Graff – The New Home Experts® Las Vegas
If you’ve been wondering what’s really happening in the Las Vegas housing market, you’re not alone. Every day, clients come to me with questions—some fueled by news headlines, others from online searches. I wanted to take a moment to answer the most commonly asked questions and give you a clear, local perspective on where things stand as we head further into 2025.
Is the Housing Market Dropping in Las Vegas?
You might have seen the recent KTNV article—or even caught the segment on TV—calling Las Vegas the “least stable housing market” in the country. That’s based on historical data showing a nearly 64% drop in prices during the Great Recession.
Yes, our market has seen dramatic highs and lows, but that doesn’t mean we’re unstable today.
Right now, I’m seeing a healthy, steady market—not a crashing one. Prices have adjusted slightly from pandemic peaks, but demand remains strong, especially in the new construction and luxury segments. If you’re buying or selling, this is still a very workable market with opportunity on both sides.
Who’s Building the Most Homes in Las Vegas?
In 2023, Lennar led the way, building nearly 1,900 homes across the valley, according to Zonda data.
Other top builders include:
- Pulte Homes
- Toll Brothers
- Tri Pointe
- Century Communities
If you’re exploring new construction, I’d love to guide you through your options—including communities that offer buyer incentives and early access before public release.
What’s the Most Exclusive Community in Las Vegas?
Las Vegas has no shortage of luxury living, but some communities truly stand out:
- The Summit Club – Arguably the most exclusive, with a private Tom Fazio golf course and ultra-private setting.
- The Ridges – A favorite among celebrities and athletes, with stunning architecture and elevated living.
- Ascaya – Bold design and sweeping Strip views in Henderson.
- MacDonald Highlands – Already one of the valley’s premier guard-gated communities—and now home to the upcoming Four Seasons Private Residences, expected to go vertical this summer. This project will take resort-style living to a whole new level.
Whether you’re after golf, views, or top-tier amenities, there’s a luxury community here that fits your lifestyle.
What’s the Most Exclusive Community in Las Vegas?
It’s a fair concern—especially after the market frenzy we saw a few years ago.
The good news? Experts across the board, including Business Insider, are predicting a moderate year of growth. Home prices are expected to rise 2–3%, and mortgage rates are forecasted to ease slightly, which will help affordability.
The takeaway: the sky isn’t falling. The market is maturing. And for buyers and sellers who make thoughtful moves, there’s opportunity ahead.
Will My Home Be Worth More in 5 Years?
Historically, U.S. home values increase between 3–5% per year. Based on that, a home worth $500,000 today could appreciate to $580,000–$640,000 in the next five years.
That said, every property and neighborhood is different. If you’re curious about what your home could be worth in 2029, I’d be happy to run the numbers and give you a custom projection.
What’s the Cost to Build in Las Vegas?
Building can be a fantastic option, especially if you’re looking for something personalized. According to Home-Cost, average construction costs in Nevada range from $130 to $250 per square foot. That means a 2,000 sq ft home would cost between $260,000 and $500,000, depending on your finishes and upgrades.
And yes, I work closely with trusted builders and can help you navigate land selection, timelines, and budget planning.
Should I Buy or Sell Now—or Wait?
This is the big one. Here’s what I’m advising my clients right now:
If you’re buying:
- Rates are expected to ease gradually.
- Builder incentives are still available.
- Inventory remains tight, especially under $1M.
If you find a home that checks your boxes—whether it’s a quick move-in or something brand new—don’t wait too long. The best opportunities rarely sit on the market.
If you’re selling:
- You’re still in a strong position, especially if your home is updated and in a desirable location.
- With fewer listings to compete with, your home can stand out.
- Some buyers are already acting before rates drop to avoid another surge in competition.
The Las Vegas market is evolving—and fast. There’s a lot of noise out there, and it can be confusing to know what’s actually true.
That’s where I come in. My job is to help you cut through the headlines, understand what’s happening locally, and make decisions with confidence—whether you’re looking for your dream home or making a smart investment.
Let’s connect for a quick call or in-person tour. I’d love to help you map out your next move in Las Vegas real estate.