Current Las Vegas Market Individual Charts
Current Las Vegas Market Report
Market Overview
The Greater Las Vegas real estate market in March showed improvement over the first two months of 2025. but was down approximately 200 units from February 2025. Overall, units are only down 1.7% year-to-date, while volume is up 2.9%.
- the Median price of SFR closing held at $485,000.
- the Average price an SFR closing improved from $611,238 to $632,933 – a 3.6% increase over February.
The luxury market led the February market with 188 closings above $1 Million, including 22 above $3 Million. The luxury market is already off to its best start ever.
We are sitting with 3.7 months of residential inventory as a result of an uptick in closings and in listings taken in March. There were 4668 residential listings taken in March and only 4009 in February. Closings are never uniform across the Las Vegas area. Be sure to look at the “selected communities” report and notice that months of inventory range from two to fourteen months – depending on the community.
Market Changes Ahead!
Where do we go from here! Certainly, the real estate market is quite stable with plenty of consumer optimism. We see signs of inflation slowing and the possibility of lower interest rates ahead this year. Will new home builders be able to keep pace with demand? How will tariffs impact our market? All unknown – so stay tuned.
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