May Las Vegas Home Prices Hold Steady at $480k, Market Leaning Towards Buyers LVR Says
LAS VEGAS, NV – Following three months in a row where home prices in Las Vegas reached and maintained their all-time record high $485,000, April finally saw that number dip to $480,000. And according to a new report by Las Vegas Realtors (LVR), that dollar amount remained firmly in-place for May as well, signifying a possibility that the market may be slowly shifting to favor buyers once again.
LVR notes that the median price of a single-family home in the Las Vegas Valley in May was once again $480,000, just $5,000 shy of the record peak that price reached during 2025’s first three months.
In contrast, the median price of condominiums and townhomes in May reached $307,000, which represents an increase of $5,700 over April. The previous high for condos was $315,000, which occurred in October 2024.
LVR President George Kypreos said these numbers represent a degree of stability returning to the residential real estate market in the valley, which he anticipates will foster in more of a buyer’s market in the near future.
Home prices have been very steady so far this year, with more homes on the market,” he said. “This increase in inventory and slower sales pace is giving buyers more options and negotiating power. This is a shift from the highly competitive seller’s market we experienced in recent years.”
The housing inventory has grown to a three-and-a-half-month supply; at the end of May, there were 6,646 homes listed for sale without any offers, which represents an increase of 71.8 percent year-over-year, LVR said. As for condos and townhomes, there were 2,510 listed without offers at the end of May, which is an 89.6 percent jump from the same period of time in 2024.
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