Redfin Report Says Las Vegas Valley Cooling Faster than Any Housing Market in Country
LAS VEGAS, NV – According to a new report released by real estate brokerage services company Redfin, the Las Vegas Valley is currently the fastest-cooling housing market in the United States.
In June 2025, the amount of home sales in the valley decreased 10.2 percent when compared to the same month one year prior; in contrast, the amount of housing inventory on the market in Southern Nevada has increased 44.8 percent year-over-year, the largest jump out of any of the country’s largest major metropolitan areas.
The Redfin report said that the prices of homes in the region have remained approximatively the same compared to one year ago, but when homes do sell, they do so at an average price drop of four percent. In addition, the average amount of time that a house is currently sitting on the Las Vegas market before selling is 51 days, an increase of 15 days year-over-year and well above the national average of 40 days.
In a separate report, Redfin also noted that the valley has experienced a 12.2 percent decrease in its number of pending home sales, which places the region third in the country in terms of that metric.
Las Vegas Redfin Realtor Cherra Bergman said that there are several economic factors at play that are contributing to the current real estate situation in the Las Vegas Valley.
Buyers have more inventory to choose from than they’ve had in years, so they feel like they can take their time. Even when they find a home they really like, they often wait to find something better,” she said. “House hunters are cost-conscious because mortgage rates are high, so many are opting for new-construction homes since builders here are offering great incentives like mortgage-rate buydowns and money toward closing costs in order to offload inventory.”
After Las Vegas, the fastest-cooling residential real estate markets in the country are currently Sacramento, Denver, Fort Lauderdale, Orlando, San Diego and Miami.
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