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as Vegas home prices stayed flat in August 2025, while the market saw a surge in listings and a slowdown in sales, pointing to a more balanced environment after years of swings, Las Vegas Realtors reported Monday.

    The median price for a single‑family home sold through the MLS was $480,000, a rise of less than 1 % from a year earlier and below the $485,000 peak that has been reached several times this year. Condos and townhomes traded at a median of $298,000, up 2.1 % YoY but still shy of the October record of $315,000.

    Inventory expanded rapidly. At the end of August, 7,206 houses were on the market without offers, a 37 % jump from last year. Condo and townhome listings climbed 56 % to 2,560. The supply now represents more than four months of inventory—double the level seen last summer.

    “Home prices here in Southern Nevada haven’t moved much this year,” said LVR President George Kypreos. “With more homes available and mortgage rates falling, buyers should feel encouraged.”

    Sales activity weakened. A total of 2,320 existing homes, condos and townhomes were sold in August, with single‑family transactions down 14 % and condo/townhome deals down 15 % YoY. Total transaction value fell to about $1.1 billion for homes and $158 million for attached properties, a decline of roughly 13 % and 10 % respectively.

    Since the pandemic boom, annual sales peaked at 50,010 in 2021, dropped to 35,584 in 2022, and to 29,069 in 2023—the slowest year since 2008. Activity rebounded modestly in 2024 with 31,305 properties changing hands.

    Other highlights: 77.5 % of houses and 72.2 % of condos/townhomes sold within 60 days, down from over 80 % a year ago; cash buyers made up 22.9 % of deals, far below the 2013 high of nearly 60 %; distressed sales remained negligible at 0.5 %.