Las Vegas Real Estate Market Update: Surprising Trends and Opportunities – July 2025
By Rob Hau – YouKnowHau.com
The Las Vegas real estate market continues to surprise both buyers and sellers with unexpected trends this summer. In this month’s market update, I break down the top insights you need to know—whether you’re buying your first home, investing, or looking to sell.
1. Single-Family Home Prices Are Rising
Contrary to predictions, the median price for single-family homes in Las Vegas increased in June. After holding at a record high of $485,000 from January through March and dipping slightly to $480,000 in April and May, prices rose again—defying expectations as inventory continues to grow.
Why? With fewer total sales, each transaction carries more weight in shifting the median. Buyers are focusing on move-in ready homes, which command higher offers and support this upward pricing trend.
2. Sellers Are Covering More Buyer Costs
Rather than dropping listing prices, sellers are choosing to offer incentives—including rate buy-downs and closing cost credits. This makes homes more attractive to buyers struggling with high interest rates while allowing sellers to protect their sale price.
3. Condos and Townhomes Are Losing Value
In contrast to single-family homes, condos and townhomes are seeing price declines. This is especially important for investors or buyers considering second homes. Historically, condos are the first to drop in value and the last to rebound, and that trend is starting to show.
Opportunity Alert: If you’ve been eyeing a vacation or rental property, this might be the right time to explore the condo market.
4. The Luxury Market Remains Strong
Homes priced at $1 million and up are seeing more action. Inventory is slightly down, and more luxury properties are going under contract, indicating strong demand from high-net-worth buyers. This stability is often a bellwether for the broader market—it tells us that confidence still exists at the top.
5. Inventory Is Rising—but Not Too Fast
We’re now seeing just under 16,700 homes on the market, which is about three times higher than recent low-inventory years. Still, it’s under the last high point we saw in 2017. More importantly, if interest rates ease and buyer confidence returns, this level of inventory could support a balanced and healthy market.
Bonus Insight: Now Is a Great Time to Explore New Builds
Builders are offering rare summer incentives, making it an ideal time to consider a new construction home. But don’t go it alone—bring your agent (that’s me!) with you on your first visit to ensure you’re fully represented.
Final Thoughts
The market is evolving—not crashing—and with the right strategy, there are excellent opportunities for both buyers and sellers. Whether you're upsizing, downsizing, or just curious, let's talk about your next move.
You know real estate. YouKnowHau.
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