LAS VEGAS, Nev. (FOX5) – A new report said that inventory for homes in the Las Vegas valley continues to increase, and prices returned to a record high.
A June report from Las Vegas REALTORS (LVR) said that the median price of single-family homes that sold in Southern Nevada was $485,000. Experts said that’s a one percent increase from May, matching the all-time high set during the first three months of 2025.
The price increased by 2.1% compared to the same month last year.
The median price for valley condos and townhomes sold in June was $305,000. LVR said it’s down from May but has increased 3.4% from June 2024.
That’s just short of the record high set in October last year, $315,000.
“Although home prices bounced back to their previous peak, prices have actually been pretty stable so far this year,” said George Kypreos, LVR President and longtime valley REALTOR. “The biggest change in our local housing market lately has been the increasing number of homes available for sale, which is good for buyers. It should also be prompting to sellers to be realistic when pricing their properties.”
According to the report, it doesn’t appear that buyers are biting.
At the end of June, LVR said nearly 7,000 homes listed for sale did not receive an offer. That’s a 70% increase from one year earlier.
About 2,500 townhomes listed also did not receive any offers, an 87.6% jump from the same time, the report indicated.
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