June 2025 Las Vegas Housing Market Update: Surprising Numbers & Key Insights
The Las Vegas real estate market delivered some unexpected data this June, revealing trends that buyers, sellers, and investors need to understand as summer heats up. In his latest video, local expert Rob Hau breaks down the numbers from the Las Vegas Realtors’ monthly report and adds real-time insight from the past seven days.
Despite a 13.1% drop in home sales year-over-year—only 287 units closed—median home prices have held steady at $480,000. This price stability, even amid reduced activity, is driven by a combination of seller concessions and lower overall transaction volume.
Closings are down 4% from last month, signaling a cooling market as the spring season winds down. Meanwhile, new listings have dipped slightly (2%), but inventory continues to rise, now up 7% from last month and an astonishing 71.8% compared to last year.
Single-family homes now reflect 3.2 months of inventory, a month-over-month increase of 11.4%. Condos and townhomes show a similar trend, with rising inventory, a minor price uptick, and a sharp 19% decline in closings compared to last year.
Notably, new listings dropped from nearly 1,400 to under 1,100, but—for the first time—over 100 listings had price increases, signaling a shift in seller sentiment. The total number of active listings is holding steady around 10,235, indicating a stabilizing inventory growth.
In the luxury sector, 1,249 high-end homes are on the market, with only 181 under contract. This segment demands strategic pricing as increased inventory lengthens time on market.
As Rob points out, if affordability improves, a return to balanced, traditional sales activity may be on the horizon. Buyers currently hold more power, but as listings stabilize and interest rates soften, the market may shift again.
Stay informed, stay prepared—and stay connected to make smart moves in Las Vegas real estate.
