LAS VEGAS (FOX5) — According to the report from Las Vegas Realtors, local home prices dipped in October, with data showing that fewer homes have sold in 2025 when compared to 2024.
The median price of single-family homes was $474,370 in Southern Nevada, down .2% from Oct. 2024. Condos and townhomes also saw a decrease, dropping 9.5% to $285,000 from a landmark record high of $315,000 in Oct. 2024.
While median prices in the area dropped, so did the number of homes receiving offers. Southern Nevada saw a 30.3% increase in single-family homes that had not received an offer since Oct. 2024. Townhomes and condos also saw a nearly 50% increase in that metric.
“Local home prices are moderating, with more homes on the market and properties taking a little longer to sell,” said LVR President George Kypreos, president of Las Vegas Realtors. “This shows that the housing market is shifting more in favor of buyers.”
Other statistics provided by Las Vegas Realtors included a dip in the number of homes sold within 60 days and an increase in cash transactions.
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