Las Vegas Housing Market Warning: Rising Inventory Could Mean Falling Prices
Las Vegas home sellers, take notice—your window to sell at peak prices may be closing fast.
This spring has brought an unexpected surge in housing inventory across Las Vegas, with over 9,100 properties now on the market. This sharp increase signals a major shift toward a more traditional market, one not seen in years. And while more inventory might sound like a good thing, it's actually putting pressure on prices.
Sellers who hold out for top dollar could soon find themselves losing money. Properties are already showing signs of weakness, with average price drops of around $1,000. Meanwhile, less than 10% of homes are seeing any increase in price at all. It’s a clear sign: confidence is low, and overpricing just isn’t working.
High interest rates are also thinning out the buyer pool. Many would-be buyers are priced out, leaving homes to linger on the market. Even rentals are taking longer to move, with average properties sitting for over 40 days. And while the rental market remains relatively stable—with average rents around $$1950—the increase in available listings (4,815 at last count) suggests a softening trend.
Million-dollar listings are rising too, adding to the inventory and increasing competition among sellers. If you’re trying to sell, this means one thing: pricing correctly is more crucial than ever.
The takeaway? Don’t wait. The Las Vegas housing market is changing quickly, and those who adapt stand to gain the most. Those who don’t? They may end up chasing a falling market.
Act now, price smart, and stay ahead of the curve.
