Las Vegas Home Prices Continue to Fall as September Median Price Hits $470,000
LAS VEGAS, NV – A new report by Las Vegas Realtors (LVR) indicates that home prices in Southern Nevada are continuing to fall – and available inventory keeps rising – following an extended streak where they held onto the all-time record high point earlier this year.
As per LVR, in September the median price of an existing single-family home in the Las Vegas Valley was $470,000, which represents a 2.1 percent decrease year-over-year. That number is also a $10,000 decrease from August’s price of $480,000, and $15,000 down from the region’s all-time record high of $485,000, which was achieved several times in 2025, most recently in July.
The median price for condominiums and townhomes sold in the valley in September followed suit, falling to $294,000, a $4,000 decrease from August’s $298,000 and 1.8 percent lower year-over-year. Southern Nevada’s all-time record for condos and townhomes was originally set in October 2024, when that price reached $315,000.
LVR President George Kypreos echoed sentiments in the report that he previously expressed in a recent media interview, noting that the changing conditions in the valley represent the local real estate market going through a “reset” of sorts.
This month’s LVR statistics are another indication that we’re going through a bit of a reset in the housing market,” he said. “We’re seeing more homes available for sale than we’ve had in some time. We’re also seeing a more balanced housing market. Along with other factors that have been shifting in favor of home buyers, we’re entering a time of year that national reports show is the best time to buy.”
LVR reports that there were 7,502 single-family homes listed for sale without any offers at the end of September, a 37.4 percent increase from the same period of time one year prior. Meanwhile, the number of condos and townhomes listed without offers jumped 50.5 percent year-over-year.
A total of 2,369 existing homes, condos and townhomes sold in the valley in September, a 5.2 percent jump from last year for homes but a 0.2 percent decrease for condos and townhomes.
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