Where is the Las Vegas Housing Market Heading? April 2025

Where is the Las Vegas Housing Market Heading? April 2025

Welcome to the April 2025 issue of our monthly market update for Southern Nevada. In this issue we will be going over March 2025 numbers.

🔥 Highlights:
➡️ Median home price holds steady at $485,000 — that’s three months in a row at this level and still our all-time record high, first set in May 2022 at $482,000.
➡️ Sales are up 📈
➡️ New listings are up 🏘️
➡️ Months of supply is down 📉

What does all this mean for buyers and sellers? Is now the right time to list your home? 🏠
Plus — find out who won last month’s bets and what new construction incentives are available for April!

MARKET TRENDS

There were 2,142 single-family houses that sold in March which is up 20.3% from February and up 2.9% from March 2025.

March 2025 – 2,142 Closings

March 2024 – 2,082 Closings

March 2023 – 2,361 Closings

March 2022 – 3,272 Closings

March 2021 – 3,726 Closings

The median sales price of previously owned single-family homes, remained the same at $485,000 in March, which is flat from last month and up 4.3% from March 2024.

So, from March 2024 to March 2025, we had a $20,000 median price increase in single-family homes year of year.

In March 2025, the median price of previously owned single-family homes was at $485,000.

In March 2024, the median price of previously owned single-family homes was at $465,000.

In March 2023, the median price of previously owned single-family homes was at $425,000.

In March 2022, the median price of previously owned single-family homes was at $460,000.

In March 2021, the median price of previously owned single-family homes was at $363,000.

CONDOS

The median sales price of condos and townhomes for March went from $303,000 to $306,495 which is up 1.2% from February and up 8.5% from the prior year.

So, from March 2024 to March 2025, we also had a $23,995 median price increase in condos/townhomes.

In March 2025, the median price of condos and townhomes was at $306,495.

In March 2024, the median price of condos and townhomes was at $282,500.
In March 2023, the median price of condos and townhomes was at $260,000.
In March 2022, the median price of condos and townhomes was at $270,000.

In March 2021, the median price of condos and townhomes was at $194,000.

LUXURY MARKET

There were 172 homes that sold in March for $1 million and over, compared to February’s 139 homes, 33 home increase.

The median sales price in the Luxury Market for March remained the same at $1,4,25,000.

MARKET TRENDS

So, for March we had a total of 3,340 new listings, which is up 19.3% from February and up 22.6% from the prior year.

March 2025 – 3,340 new listings

March 2024 – 2,724 new listings

March 2023 – 2,565 new listings

March 2022 – 3,526 new listings

March 2021 – 3,566 new listings

There were also a total number of 5,416 single-family houses listed without offers in March, which is up 3.6% from the previous month and up 63% from the prior year.

March 2025 – 5,416 listed without offers

March 2024 – 3,323 listed without offers

March 2023 – 4,196 listed without offers

March 2022 – 2,005 listed without offers

March 2021 – 1,772 listed without offers

MARKET TRENDS

Which brings us to the housing supply in Southern Nevada, last month we are at 2.5 months of inventory on the market, in March we were at 2.9 months of inventory; which is down 13.9% from February, but up 58.4% from the prior year.   

March 2025 – 2.5 months of supply

March 2024 – 1.6 months of supply

March 2023 – 1.8 months of supply

March 2022 – .6 months of supply

March 2021 – .5 months of supply

56.9% of the closings for the month March was on the market 30 days or less, in February this number was at 53.2% and in March 2024, 62.5% of the homes were on the market 30 days or less.

NEW BUILDER INCENTIVES – April 2025

Century Communities

Century Communities is having their START FRESH Event. Unbelievable savings on select homes when financing with Century Communities affiliate lender, Inspire Home Loans. Get 3.875% fixed interest rate when using an FHA and VH loans for the first year and 4.875% interest rate for years 2-30, or 4.875% interest rate for the first year on a conventional loan and 5.875% interest rate for years 2-30.

Rates are available only on the purchase of select Century Communities homes that sign a contract on or before 4/15/2025 and that close on or before 4/30/2025.

Pulte

Pulte is offering limited time special financing at 5.5% 30-year fixed interest rate on Pulte’s select quick move-in ready homes when you finance through Pulte Mortgage and go under contract from now and close by 5/31/25.

Richmond American Homes

Richmond American is having their SPRING INTO SAVINGS Event on their Move-In ready Homes. Must be under contract by 4/13/25 to take advantage of these rates. You also have to use their preferred lender, Home American Mortgage Corporation to take advantage of these special interest rates.

Fixed Rate Close by 4/30/25

3.75% 30-year FHA fixed rate w/ 3.5% down

3.75% 30-year VA fixed rate w/ $0 down

4.50% 30-year Conventional fixed rate w/ 10% down

Fixed Rate Close by 6/30/24

4.5% 30-year FHA fixed rate w/ 3.5% down

4.5% 30-year VA fixed rate w/ $0 down

4.99% 30-year Conventional fixed rate w/ 10% down

Taylor Morrison

Taylor Morrison is having SAY YES TO THE ADDRESS Event, offering a 30-year fixed interest rate with a temporary buydown. Get 3.99% interest rate for the first year and 4.99% interest rate for years 2-30 on select quick move-in homes in the Las Vegas area.

Valid on new home contracts entered from now until 4/30/25 on all eligible Las Vegas area Quick Move-in Homes that close on or before 5/23/25 (“Promotion Period”).

Toll Brothers

For a limited time on select quick move-in homes, Toll Brothers Mortgage Company is offering reduced interest rates for the first two years of your 30-year fixed loan and then a locked interest rate starting with year three for the remaining loan term. This 2/1 Buydown program is only available on homes that close by May 30, 2025, so take advantage of this great rate now. For the 1^st year get 4.49% interest rate, 2^nd year get 5.49% interest rate and from years 3-30 get 6.49% interest rate.

ROB & ANG BETS – April 2025

MEDIAN SALES PRICE

Rob said Flat

Ang said $1,000 increase

Actual # FLAT

Rob won this!

WITHOUT OFFERS

Rob said 5,300

Ang said 5,200

Actual # 5,416

ROB won this one!

MONTHS OF SUPPLY

Rob said 3.4 months

Ang said 3.1 months

Actual # 2.5 months

ANG won this one!

Las Vegas Realtors Report

If you’re considering buying or selling a home in the Las Vegas Valley, please don’t hesitate to reach out to me. I’ll get back to you personally and promptly. Thanks for visiting!

Subscribe to our YouTube Channel: http://bit.ly/YouTubeAOHare

Angela O’Hare
Favorite Las Vegas Realtor
REAL Broker LLC at Urban Nest
Lic. #180246
702-370-5112
[email protected]
www.neighborhoodsinlasvegas.com