Executive Summary
- The median price of a single-family home in Las Vegas fell to $474,370 in October 2025, a 0.2% decline year-over-year.
- Home sales volume decreased, with single-family home sales down 10.1% and condo/townhome sales down 8.9% compared to October 2024.
- Housing inventory increased significantly, with available single-family homes up 30.3% and condos/townhomes up 47.9% from the previous year.
- The market now has over a four-and-a-half-month supply of available housing, indicating a shift that favors buyers.
The Las Vegas housing market showed signs of cooling in October 2025, as median home prices and sales volume both decreased while the inventory of available homes continued to expand, according to new data from Las Vegas Realtors (LVR). This shift suggests the market is moving toward a more balanced environment for buyers and sellers.
The median price for an existing single-family home sold in October was $474,370, a slight 0.2% decrease from the same month in 2024. Condominiums and townhomes experienced a more significant drop, with the median price falling 9.5% year-over-year to $285,000, down from a record high of $315,000.
“Local home prices are moderating, with more homes on the market and properties taking a little longer to sell,” said LVR President George Kypreos in a statement. “This shows that the housing market is shifting more in favor of buyers. For people who are prepared and can afford it, it’s a good time to buy.”
The supply of available homes has increased substantially. At the end of October, 7,538 single-family homes were listed without an offer, a 30.3% increase from a year ago. The inventory of condos and townhomes surged by 47.9% to 2,660 available units. This rise in supply has led to a slower sales pace, with 2,216 total properties sold in October. Single-family home sales were down 10.1% year-over-year, while condo and townhome sales fell by 8.9%.
At the current rate of sales, the Las Vegas market now has more than a four-and-a-half-month supply of housing, up from just over three months a year prior. Properties are also taking longer to sell, with 71.7% of single-family homes and 67.5% of condos selling within 60 days, down from nearly 80% for both categories in October 2024.
Despite the slowdown, cash buyers accounted for 26.5% of all transactions, a slight increase from the previous year. Distressed sales, such as foreclosures and short sales, remained negligible at just 0.9% of all transactions, consistent with recent years.
Market Outlook
The combination of moderating prices, rising inventory, and a slower sales pace indicates that the once-frenzied Las Vegas housing market is entering a period of stabilization. After years of significant volatility, these trends point toward a more sustainable and balanced market moving forward. The total value of real estate sold in October was nearly $1.1 billion for single-family homes and over $149 million for condos and townhomes.
