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Current Las Vegas Market Individual Charts

Current Las Vegas Market Report

Market Overview

The Greater Las Vegas real estate market in May stalled noticeably, leaving 2025 closed units 6.1% behind 2024 and closed volume down 2.8% from 2024.

• the Median price of SFR held at $480,000.
• the Average price an SFR closing retreated from$608,800 to $595,395 – a 2.2% decrease from April.

The luxury market led the February market with 171 closings above $1 Million, including 11 above $3 Million. The luxury market remains the strongest market segment and running ahead of 2024 at this point..

Months of residential inventory dipped to 4.3 months primarily as a result of more listings taken while listings are taking a little longer to close and sales have slowed a little. There were 5,014 residential listings taken in May compared to 4,964 in April. 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 three to twenty-nine 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.

Now who knows why the Fed is sitting on their hands at a time when it’s obvious to everyone else that rate cuts would be welcome across the board. However, keep in mind that whatever budget is passed in Congress will not go into affect until October 1st. In the meantime, I’m ready to invest in tiny home and prefabricated home builders.