July 2025 Las Vegas Housing Market Insights
What the latest market data means for professionals and their clients.
The Las Vegas real estate market in July 2025 (based on June data) reflects a landscape of stability with strategic opportunity. While year-over-year sales have slowed, home prices remain firm, inventory is increasing, and the luxury market is holding strong — presenting opportunities for buyers, sellers, and agents who understand how to navigate a shifting market.
Market Overview: A Balanced Environment Emerging
Compared to June 2024, closed single-family home sales are down 7%, with 1,946 homes sold in June 2025. Despite this, the median home price increased to $485,000, suggesting strong fundamentals and sustained demand.
Inventory has grown significantly — up 70%+ year-over-year — now sitting at 3.6 months of supply, offering more choices for buyers and greater negotiation power. Importantly, this shift comes after years of low inventory, so it should be seen as a market normalization, not a downturn.
High-End Sales & Price Strategy
Luxury transactions continue to influence average price data, with the average price reaching $636,000, up 7.2% from May. Median prices provide a clearer picture for typical buyers and sellers, but this activity signals ongoing confidence from high-net-worth investors in Las Vegas.
Agents and sellers should note that homes are taking longer to sell, with 61.4% closing within 30 days, compared to 71.6% last year. Strategic pricing and standout presentation are now essential to success.
Condos & Townhomes: Shifting to a Buyer’s Market
Condo and townhouse activity cooled in June, with sales down 8% month-over-month and median prices dipping to $305,000. Inventory has climbed to 5 months of supply, confirming a more buyer-friendly environment. This sector may present entry-level opportunities or attractive options for investors looking for cash-flow properties.
Final Outlook: Navigating the Shift
Overall, the Las Vegas market is not in decline — it’s adjusting. Sellers must price competitively and invest in marketing, while buyers have increased leverage for negotiation. For agents, this is a time to lead with clarity, data, and confidence.
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Access the Full July 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