Buying in Las Vegas: September 2025 Market Update
Why September 2025 Matters for Buyers
For the first time in years, Las Vegas buyers have space to breathe. Sales slowed sharply in September, inventory is higher, and prices are holding steady instead of racing upward. This combination is creating a more balanced market where buyers can explore options, negotiate better terms, and make thoughtful decisions.
Why it matters: If you’ve been waiting for less competition and more leverage, September’s numbers show that window is opening.
Single-Family Snapshot: More Choice, Less Rush
Median price: $480,000 — down 1% month-over-month, still up 0.7% year-over-year.
Units sold: 1,835 — down 9.2% MoM and 14.2% YoY.
Active inventory: ~7,200 homes — up slightly MoM, up 37% YoY (~3.9 months of supply).
For buyers, this means more listings to choose from and less urgency to overbid. Prices are stable compared to last year, but with sales slowing, you’re more likely to find sellers open to negotiation.
Condo & Townhome Snapshot: Affordable Options Rising
Median price: $298,000 — up 2.8% MoM, up 2.1% YoY.
Units sold: 485 — down 11.3% MoM and 15.4% YoY.
Active inventory: ~2,500 units — down 2.4% MoM, up 56% YoY.
Condos are one of the few price categories still ticking up. That suggests buyers looking for affordability are focusing here. But with supply up significantly from last year, you’ll have leverage when it comes to terms and concessions.
How to Use Today’s Market to Your Advantage
Smart Negotiation Strategies
Think terms, not just price. Seller credits for rate buydowns or repairs can save you more per month than a small price cut.
Shop broadly, act decisively. You can explore multiple homes without the panic of last year, but the well-priced listings still move fast.
Watch the Best Homes Closely
Days on market (DOM) is your best signal. Fresh, fairly priced listings won’t linger.
Rates in the mid-6s to ~7% mean affordability remains tight, but every 0.25% dip could save you $100+ per month on a $400,000 loan.
Why it matters: Buyers finally have options—but success comes from balancing patience with decisiveness.
Local vs. National: Why Las Vegas Feels Different
Nationally, inventory is still about 13% below pre-pandemic levels. In Las Vegas, we’re already back to pre-pandemic norms, with inventory 30% above last year. That means our local market is ahead of the curve when it comes to cooling.
Why it matters: If you’re relocating, know that what you’re hearing nationally may not match what’s happening on the ground here. Las Vegas buyers are gaining leverage sooner.
Your Next Step
If you’ve been waiting to buy in Summerlin, Henderson, or anywhere in the valley, now may be your best opportunity in years to shop with options and negotiate with confidence.
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 us or call sales@coxengroup.com or 702-919-4090.
Access the Full September 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.