Las Vegas Real Estate Market [April 2025]

From 2020, at the beginning of the COVID-19 pandemic, to now, the Las Vegas real estate market and nationwide have been characterized by the following factors, sharpened by the highest inflation level of 9.1% reported in June 2022, which came as a consequence, among others, of government high spending and stimulus packages to compensate for the economic effects of COVID-19.

• Low housing inventory
• High Demand
• Higher prices
• Higher interest rates

The Federal Reserve tamed inflation from its highest % since 1981 to 2.9% in December 2024. The federal interest rate for overnight interbank loans currently is at the benchmark of 4.25% to 4.5%. Many believe the American economy was strong, healthy, and the world’s envy. 

The new government promised an even better economy, which generated considerable positive expectations.

People expected policies to make real estate more affordable, particularly in the nationwide real estate market. Incentives would be offered to builders to build more and faster, increasing the supply of homes, normalizing home prices, and helping more aspiring homeowners reach their American Dream of owning a home. 

Instead, what is happening now is that the economy, in general, is uncertain about the effects of the tariffs imposed on goods from other countries on the US, as well as the overlooked effects of inflation and recession.

Among economists and trade experts, there is consensus about the idea that tariffs are a trade tool, not a weapon. However, the full impact of the tariffs, both nationwide and locally, is not yet well quantifiable, mainly because ships carrying cargo goods are starting to arrive at American ports of entry. Still, the pundits clearly have expressed grave concern about:

How did the niche of a single home in the Las Vegas area perform in April 2025?

Since the government’s tariff policy was announced, mortgage Interest rates have been fluctuating between 6.78% and 6.97% constantly.

Additionally, more people are diversifying their portfolios by investing in real estate, which is often viewed as a valuable asset during periods of potential inflation or recession.

Median home price decreased.

The price reduction in April was 1.01% compared to the sale median price reported in the first three months of the year. The median price went down from $485,000 to $480,000.

• It could not be a significant reduction, just $5,000. Still, the median sale price for April 2025 shows a sale median price increase of 60% compared to the price reported in April 2019, $300,000.

• It could not be a significant reduction, just $5,000. Still, the median sale price for April 2025 shows a sale median price increase of 60% compared to the price reported in April 2019, $300,000.
• April median price is also the same price reported in July and November 2024.

More single homes sold.

April 2025 is the 4th consecutive month in which the number of home sold increased month to month.

• Since the government’s tariff policy was announced, mortgage Interest rates have been fluctuating between 6.78% and 6.97% constantly, attracting more people to obtain a 30-year fixed mortgage loan below 7%.
• Additionally, more people are diversifying their portfolios by investing in real estate, which is often viewed as a valuable asset during periods of potential inflation or recession.
• The total units sold in April 2025, 2,174, is just 76% of the total homes sold in April 2019, 2,872, indicating that the market hasn’ t reached pre-pandemic levels.

More units available for sale

For the first time in more than five years, a total of over 6,000 homes are available for sale. In April 2025, there were 6,213 homes available for sale. 

• April 2025 marks the 4th month in a row that the number of units available for sale is increasing.
• More homeowners decided to sell their homes, preventing eventual home price reductions due to the uncertainty that looms over the economy.  
• Yes, more homes are available for sale, but still below pre-pandemic data. In April 2019, the total units available were 7,435 homes for sale.

More properties sold within 30 days

60.3 % of the homes sold during the first 30 days. This indicator grows by 6% from the previous month.

• The price, location, and condition of the house are the key elements that determine whether a home sells quickly or slowly in this market. Hence, sellers need to be aware of this.

Performance of the niche Condo/townhomes in April 2025.

Both the median price and units sold in the niche of Condo/Townhome went down in April 2025 compared to the previous month; meanwhile, the units available for sale grew for the 5th consecutive month since December 2024.

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• Units sold totaled 544, which is below the 570 units sold in the previous month and represents just 73% of the units sold in April 2019, prior to the pandemic. 

• The median price for Condo/Townhomes went down 1%, from $ 306,495 in March 2025 to $302,700 in April 2025. The median price in April 2025 is also 4% below the highest price reported in October 2024, which was $315,000, but a staggering 78% increase over the median price in April 2019, $ 170,000.

• Units available at the end of April 2025 are 2,390, higher than the previous month, indicating a slight but steady monthly increase since December 2024 and a 31% rise compared to the units available in April 2019. Compared to April 2024, units available for sale in April 2025 grew an impressive 91.5%. 

• Comparing units sold during the month to those available at the end of April, it is possible to determine that the inventory available would last for 4,4 months while selling at the same level reported, assuming no more properties enter the market for sale.
• The 4.4-month supply shows a 13% increase compared to the previous month but a 4% decrease compared to January 2025, when a 4.6-month supply was reported. 

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Conclusion

It is too soon to declare that the Las Vegas real estate market is a buyer’s market; however, the market is slowly shifting in favor of homebuyers, offering them more units available for sale, and a downward-trending interest rate below 7%.

High home prices and mortgage interest rates continue to highlight the prevalence of the home affordability issue, presenting less competition for highly prepared and motivated homebuyers.

The real impact of tariffs on the real estate market will be clearer in the coming months. 

Nevertheless, it is essential to consider that, regardless of the local and national economy, people must sell and buy real estate. I want to think that we are in a more balanced market, offering opportunities for both sellers and buyers.

Sellers motivated to sell may counter the high inventory available by being more realistic about prices and helping more prospective buyers with closing costs. As a result, more listings with price reductions are likely to be seen.

If you can afford to buy a home and make the monthly mortgage payments, don’t hesitate to make homeownership a reality. Don’t wait until all circumstances are favorable; probably that will never happen. This is a market that is in your favor: fewer competitors, more properties available, and room for negotiating price and conditions.

Whether you are thinking about selling, or buying it doesn’t matter if it’s a seller’s or buyer’s market.

Instead, I would like to invite you to consider these types of questions to objectively assess your market position.

Are you ready to buy now? If the answer is no, what steps are you taking to prepare yourself to achieve your homeownership goal?

Are you ready to sell right now? If the answer is no, What are you waiting for?