Las Vegas Home Sales & Prices Drop Year-Over-Year in February
LAS VEGAS, NV – Las Vegas’ real estate market continued its ongoing slump last month, according to a new report released by trade association Las Vegas Realtors, which shows that both residential home sales and prices decreased in February.
The median price of an existing single-family home in the Las Vegas Valley last month was $481,995, which represents a 0.6 percent decrease year-over-year.
Meanwhile, 1,614 previously-owned homes were bought in the valley in February, which is a 9.4 percent drop when compared to the same period of time in 2025.
But in contrast, there was an increase in the number of homes being listed for sale, as well as how many were sitting on the market without any offers. February saw an additional 2,925 single-family homes hit the market, which is a 4.5 percent increase year-over-year.
All told, there were 6,131 houses up for sale at the end of last month, which represents a whopping 17.2 percent jump when compared to February 2025, according to LVR’s report, which cites data from their own listing service.
LVR President George Kypreos noted that the current state of the real estate scene in Las Vegas are strong indicators of a transition over to a “buyer’s market,” adding that Southern Nevada remains an “attractive” place to buy a home.
However, the market in Vegas has continued to struggle amid high asking prices as well as expensive home mortgages pricing many people out of homeownership in the region, despite the fact that it remains one of the more affordable cities in the country overall. But regardless, sales have dropped while prices have remained at near-record levels despite a large amount of inventory currently being on the market.
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