The Las Vegas housing market is at a turning point. Inventory is rising, sales are slowing, and buyers are regaining leverage but prices are holding steady. In a recent interview with KTNV, I broke down what this all means and how you can navigate this unique moment.
Las Vegas by the Numbers (June 2025):
- 6,992 homes on the market without offers (up 70% YoY)
- 9,331 total active listings (up 36.3% YoY)
- 3,252 new listings (down 15.4% YoY)
- Median home price: $485,000 (back to the all-time high)
- 1,946 homes sold (slowest sales since February)
What’s Behind the Shift?
Buyers are pulling back due to high mortgage rates, summer travel, and simple fatigue. Meanwhile, sellers are listing homes faster than buyers can absorb them. Builders are now offering summer incentives, and everyone is watching for a possible rate cut at the Federal Reserve’s next meeting on July 29.
As I said in the KTNV segment: more homes for sale means buyers can breathe. It’s no longer about bidding wars. It’s about finding the right fit, negotiating smartly, and taking your time.
National Trends Reflect Local Realities
Across the U.S., this spring marked a big change:
- Listings are up nationwide, surpassing buyers for the first time since 2013
- Fewer homes are selling above asking
- Pending sales are at a multi-year low
Analysts predict a mild national price correction later this year. That doesn’t mean a crash, it’s just a rebalancing.
What Should You Do?
- Buyers: Now’s a great time to explore options. Builders are hungry, listings are abundant, and with less competition, you can negotiate more confidently.
- Sellers: Be realistic. The days of “name your price” are behind us. Price strategically and consider offering incentives.
The Las Vegas market is heading toward equilibrium. This isn’t a downturn, it’s a breather. If these trends hold another year, then we’ll see real pressure. Until then, smart moves can still lead to great outcomes.
Ready to discuss your next step in this market? Reach out anytime. I’m here to guide you through it all.
George