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What’s Really Going On in the Las Vegas Housing Market? Let’s Talk About It — July 2025
Hey friends,
It’s your favorite local Realtor, Mia Kennedy, and I’ve been getting the same question over and over lately:

“Mia… what’s going on with this market?! Should I wait? Should I sell now? Is it a good time to buy?”

So I’m here with your real talk market update for July 2025 — no fluff, no doom and gloom. Just the facts (and a little bit of Mia-flavor honesty ).

Let’s Start With Inventory: There’s a LOT of Homes For Sale Right Now
I’m not going to sugarcoat it — inventory has exploded.
Right now, there are over 9,000 homes listed in the Las Vegas area, and nearly 7,000 of them don’t even have offers yet. That’s a 70% jump from last year.

👉 Translation? Buyers have choices. Lots of them.

If you’re a seller: it’s time to get strategic. If your home isn’t priced competitively, it’s going to sit. Period.

What About Prices? Are They Dropping?
Surprisingly… not really.

The median single-family home price is hovering around $480,000–$485,000.

Redfin shows $458K, up 1.7% year-over-year.

Condos and townhomes? Median is $305,000.

So yes, prices are holding steady (for now). But homes are sitting longer — about 51 days on market, compared to 30-something last year.

That means buyers aren’t rushing. They’re browsing. Negotiating. And sometimes asking for closing cost credits, price cuts, or extra perks (so sellers, take notes!).

😬 Are We Headed for a Crash?
Nope. But we are seeing signs of a cooldown.

This isn’t 2008 — this is a correction, a balancing.
Mortgage rates are still in the 6.75–7% range, which is keeping some buyers on the sidelines. Meanwhile, a lot of investors and retirees are trying to offload their properties — and that’s pushing inventory even higher.

Mia’s Real Talk Advice:
Buyers – This is your window.
You’ve got options, less competition, and leverage. Don’t be afraid to negotiate. Ask for credits. Look for motivated sellers (I know where they are 😉).

🏠 Sellers – Price it right, or risk getting ghosted.
Homes that are staged, priced competitively, and marketed correctly are still selling. But this is not the “list high and wait for 10 offers” market. Be realistic, and lean into a Realtor (like me) who knows how to stand out.

Looking Ahead…
The rest of 2025 might bring some price softening—especially if mortgage rates stay high. But this is still Las Vegas, and we’ve got:

New stadiums,

Film studios moving in,

A steady stream of buyers from California and Arizona,

And zero signs that people are done moving here.

So if you’re waiting for some magical “perfect” moment… it may not come. The best time to make your move? When it makes sense for you.