Is Las Vegas Becoming a Buyer’s Market in 2025?

2025 Las Vegas homebuyer receiving keys — Real estate trends favoring buyers.

If you are considering buying a home in Las Vegas, the second half of 2025 may be your best chance in years to enter the market with confidence. We may not not officially be in a buyer’s market just yet, but the data clearly shows that the Las Vegas real estate landscape is shifting in that direction.

Las Vegas Housing Inventory Growth: Months of Supply Doubles from Late 2024 to Mid-2025

According to the Greater Las Vegas Association of Realtors (GLVAR), single-family home sales in June 2025 totaled 1,946. That represents a 7% decrease compared to last year. At the same time, housing inventory is climbing. The current supply sits at approximately 3.6 months, which reflects a move away from the tight seller’s market that defined the past few years.

While a full blown buyer’s market typically starts when supply reaches six months or more, today’s conditions offer buyers more negotiating power and more homes to choose from. Redfin has noted that Las Vegas is one of the top markets in the country where pending home sales have dropped, down more than 15% since last year. Buyers are feeling less pressure to move quickly, and sellers are starting to adjust to the new pace of the market.

Despite these changes, home prices in Las Vegas remain near record highs. Zillow shows that the median home price in the area is approximately $436,200, up 2.7% year-over-year. The Las Vegas Review-Journal also reports that the median single-family home price held steady at $480,000 in May, just $5,000 shy of the all-time high set earlier in the year.

What’s driving the shift to a buyer's market?

Las Vegas remains one of the most desirable markets in the country thanks to its affordability compared to coastal cities, strong job growth, and steady population gains. Many buyers are relocating from California and other higher-cost states in search of better value and lifestyle flexibility. However, higher interest rates have caused some buyers to pause, softening overall demand and shifting the balance.

For sellers:

This is still a strong market (just a more competitive one). Homes may take longer to sell and pricing strategy matters more than ever. With buyers being more selective, many are also requesting seller concessions like closing cost assistance. However, homes that are priced right and presented well are still selling quickly and for top dollar.

Want to maximize your sale and avoid common pitfalls? Check out 6 Mistakes to Avoid When Selling Your Home in Las Vegas – 2025 Guide.

Bottom line:

The Las Vegas housing market in 2025 is transitioning into a more balanced environment. Buyers have more room to negotiate and more inventory to choose from, while sellers can still take advantage of near-record prices with the right preparation.

Whether you are buying your first home, upgrading, or selling a long-time property, staying informed and working with a trusted local expert is the best way to succeed in this evolving market.

Ready to take the next step?

I’m here to help you navigate this market with clarity and confidence. Let’s connect and create a strategy that works for your goals.

This blog provides general information to help you understand the homebuying process, but it is not a substitute for personalized financial, legal, or real estate advice. Always speak with a licensed professional for specific guidance.