August 2025 Las Vegas Housing Market – My Take
In July, we saw one of the biggest year-over-year inventory jumps in years. That changes the playbook for buyers, sellers, and investors. When supply rises this sharply, buyers often gain more room to negotiate, while sellers have to work harder to stand out.
What I’m Seeing in the Las Vegas Market This Month
We’ve got a mixed bag right now:
Inventory: Way up from 2024 levels in all property types.
Prices: Holding steady for single-family homes, slipping for condos/townhomes.
Sales volumes: Up slightly from June but still below last year’s pace.
For buyers, this means more options. For sellers, it means more competition — and that changes how we price and present homes.
Single-Family Homes: Stable Prices, Rising Choices
Price and Sales Trends in July
Median Sales Price: $485,000 (flat MoM, +1% YoY)
Closed Sales: 2,021 homes (+4% MoM, -5.8% YoY)
Flat month-over-month pricing tells me sellers aren’t panicking. The small YoY gain shows that, despite higher rates, values are still edging up. That said, fewer homes sold compared to last year — a sign demand isn’t as strong as 2024.
Inventory Jumps and What They Mean
Inventory (excluding offers): 7,147 homes (+2.2% MoM, +54% YoY)
More supply means buyers have options and leverage. For sellers, it means you can’t just put a sign in the yard and expect multiple offers.
Condos & Townhomes: More Leverage for Buyers
Price and Sales Trends in July
Median Sales Price: $290,000 (-4.9% MoM, -2% YoY)
Closed Sales: 547 units (+6.2% MoM, -11.6% YoY)
The nearly 5% drop in a single month is significant. It tells me that either buyers are shifting toward single-family homes because they now have more options, or affordability limits are putting pressure on condo pricing.
Inventory Growth
Available Units: 2,622 (+2.3% MoM, +77% YoY)
This is a completely different market than last year for condos — buyers here can negotiate harder, and investors may find better deals.
Effective Months of Availability
Here’s where it really clicks:
Single-Family Homes: 3.5 months (up from ~2 last year)
Condos/Townhomes: 4.8 months (more than double last year)
Anything above 4 months usually gives buyers more negotiating power.
My Advice for Buyers, Sellers, and Investors
If You’re Buying
You’ve got more options, but don’t drag your feet — the best properties still move quickly. And watch rates; even a small increase can change your monthly payment.
If You’re Selling
Your pricing and presentation need to be on point. Staging, pro photography, and smart marketing aren’t optional in this market.
If You’re Investing
The condo/townhome market may present opportunities, but don’t forget to factor in HOA fees — they can eat into your returns quickly.
Bottom line: This market is giving us opportunity — but it’s not the same for every property type. Knowing your segment’s MoM and YoY trends is the edge you need.
Have questions about Las Vegas, real estate in general, or are you thinking of buying, selling, or investing in Las Vegas real estate or Summerlin real estate?
Email me or call me at sales@coxengroup.com or 702-919-4090.
Access the Full August 2025 Market Report
For a comprehensive breakdown of all market data and insights discussed, you may download the complete report in PDF format by clicking the link