Home Prices in Las Vegas Remain at All-Time Record High Three Months in a Row
LAS VEGAS, NV – In March 2025, prices of homes in Las Vegas remained at their all-time record high for the third straight month in a row, according to a new report released by Southern Nevada real estate industry group.
Las Vegas Realtors (LVR), using data from the Multiple Listing Service, confirmed that the median sale price for a single-family home in the Las Vegas Valley in March was $485,000, the highest that amount has ever been; that record-setting price has held steady for the third month running after it was initially set in January and remained firmly in-place in February.
George Kypreos, LVR President, said that the median price maintaining its current level without change represents a positive development for those looking to buy a home in Southern Nevada, as it denotes a rising degree of stability in the local real estate marketplace.
It’s interesting to see that the median price of existing homes hasn’t changed since the start of 2025,” Kypreos said. “This is another indication of stability and how homes prices have been increasing more gradually. At the same time, home buyers are benefiting from more homes available for sale and a recent drop in mortgage rates.”
There were 5,416 homes listed for sale in Las Vegas at the end of March without any offers, which represents a whopping increase of 63 percent year-over-year; in that same month, there were 2,712 residential sales – comprised of homes, condominiums, and townhomes – which was a jump of 2.9 percent from the same period of time in 2024 for houses, but a drop of 3.4 percent for condos and townhomes.
Local home sales have been rebounding from a slow year in 2023,” LVR said in a statement regarding the rapidly fluctuating Las Vegas market. “LVR reported a total of 31,305 existing local homes, condos and townhomes sold during 2024. That was up from 29,069 such sales in 2023 – the slowest year for existing local home sales since 2008. LVR tracked 35,584 total sales in 2022. That followed a record year for existing local home sales in 2021, when LVR reported 50,010 total properties were sold.”
Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.
Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management