Las Vegas Market Returning to Stability Following August Home Price Drop, Industry Group Says
LAS VEGAS, NV – A new report by Las Vegas Realtors (LVR) reveals that home prices in Las Vegas showed a slight drop in August when compared to the all-time record high level they hit once again the month before, potentially signaling the return of stability to the Southern Nevada real estate market, despite the fact that the region’s inventory continues to climb.
LVR noted that the median price of an existing single-family home in the Las Vegas Valley in August was $480,000, which represents a drop of $5,000 from the all-time record high of $485,000 achieved several times in 2025, most recently in July; August’s median price is also a 0.7 percent increase year-over-year.
Meanwhile, the median price of condominiums and townhomes sold in the valley in August was $298,000, which represents a 2.1 percent year-over-year increase, but a significant drop from the region’s all-time record originally set in October 2024, which was $315,000.
Las Vegas Realtors President, George Kypreos, said in a statement that the numbers recorded in August distinctly show that the residential real estate market in Southern Nevada is returning to a more even level between buyers and sellers.
These statistics are another sign of stability in our local housing market,” Kypreos said. “Home prices here in Southern Nevada haven’t moved much this year. Besides having more homes on the market to choose from, buyers should also be pleased to see mortgage interest rates going down this month.”
However, inventory in Vegas continues to climb amid sluggish sales, with 7,206 single-family homes listed at the end of August without any offers, LVR says, a 36.8 percent jump year-over-year. In addition, there were 2,560 condos and townhomes without offers, a 56.1 percent jump from August 2024.
2,320 existing homes, condos and townhomes were sold in August, a year-over-year drop of 14.2 percent for homes and 15.4 percent for condos and townhomes.
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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