Condo, Townhome Prices in Las Vegas Increasing Due to Demand Fueled by High House Prices
LAS VEGAS, NV – According to a new report released by Las Vegas Realtors (LVR), prices of condominiums and townhomes in the Las Vegas Valley are on the rise due to increasing demand fueled by high house prices in the region.
Based on LVR data pulled from the Multiple Listing Service, the median price of a condo or townhome sold in Southern Nevada in May 2025 was $307,000, which represents a 1.4 percent increase from April 2025 and a 4.1 jump year-over-year. However, the number of condos and townhomes sold in the valley in May was 559, which is 2.8 percent higher than April but a 19 percent decrease from the same period of time last year.
Meanwhile, the median price of a single-family home in Las Vegas has been consistently remaining at $480,000, just shy of the all-time record high level that was reached earlier in 2025, LVR says.
Given that the current high prices in the Southern Nevada single-family home market are driving very real affordability concerns for many people in the region, Henderson Re/Max Advantage associate Robert Little notes that some buyers are feeling priced out and are seeking other housing options that are more in line with their budgets…mainly, condos and townhomes.
I believe this is largely due to affordability,” he said. “Condos, with a current median price of $307,000, are more accessible than single-family homes, which have a median price of $480,000. This makes them especially attractive to first-time buyers, second-home purchasers, or those on fixed incomes and tighter budgets.”
This rising demand for condos and townhomes is correspondingly serving to drive prices in that market up, but LVR President George Kypreos said that monthly sales numbers can fluctuate wildly in Las Vegas and it’s best to keep an eye on the big picture instead of the small details.
While local condo sales and prices did post a modest increase in May, I wouldn’t read too much into it,” he said. “I do think it suggests that more buyers are recognizing that condos and townhomes can be a more affordable way to enter the housing market, especially with home prices hovering just below record levels and mortgage interest rates still higher than we’d like.”
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