Las Vegas Real Estate Market Update: February 5th – February 12th, 2025

If you're keeping an eye on the Las Vegas real estate market, this update is for you! Whether you're buying, selling, or investing, knowing the latest trends can give you an edge. So, what’s been happening in Vegas this past week? Buckle up—we’re diving deep into the numbers, trends, and what it all means for you.

Key Market Insights This Week

Before we get into the nitty-gritty, let’s highlight some major takeaways from this week’s market activity:

• 95% of List Price Received – Sellers are accepting slightly less than their asking price.
• 42 Days on Market – Homes are selling steadily, but buyers have time to make decisions.
• 16 Weeks of Supply – A market leaning more toward buyers with growing inventory.
• 547 New Listings – A solid stream of new options for home seekers.
• 5,130 Active Listings – A wide selection of homes for prospective buyers.
• 322 Homes Sold This Week – A stable level of transactions across the city.
• 519 Homes Under Contract – Strong activity, showing buyer confidence.
• $616,196 Average Weekly Sales Price – A healthy price point reflecting a balanced market.
• $6,100,000 Highest Sale This Week – Luxury properties continue to shine in Las Vegas.

Home Prices: Are They Rising or Falling?

Las Vegas home prices remained steady this week, with an average sales price of $616,196. This points to a stable market where supply and demand are finding equilibrium. Homes priced appropriately continue to sell well.

If you’re wondering whether prices will rise further, the answer depends on several factors. While buyer demand remains solid, increasing inventory could help stabilize prices. That said, homes in move-in condition and great locations are still fetching premium offers.

Days on Market: How Fast Are Homes Selling?

Homes spent an average of 42 days on the market this week, giving buyers more breathing room compared to the fast-paced market of recent years.

For sellers, this emphasizes the importance of pricing your home competitively and presenting it well. Overpriced listings risk lingering on the market, leading to potential price cuts and reduced interest.

Inventory Levels: Are There Enough Homes for Buyers?

The market welcomed 547 new listings this week, increasing the total active inventory to 5,130 homes. With 16 weeks of supply, buyers are gaining more leverage.

This growing inventory means less bidding competition and more opportunities for buyers to find the right property. For sellers, this underscores the need to stand out through effective pricing, staging, and marketing.

Sales Volume: How Many Homes Are Changing Hands?

This week, 322 homes sold, maintaining a solid pace in the market. Even with seasonal fluctuations, this shows that buyer demand remains consistent.

In addition, 519 homes went under contract, which is a strong indicator that buyer activity remains robust despite higher interest rates and economic shifts.

How This Week Compares to Last Year

Market Trends Year Over Year

Here’s how the Las Vegas real estate market compares to the same time last year:

• Active Listings: 5,130 vs. 4,728 last year.
• Homes Sold: 322 vs. 298 last year.
• Under Contract: 519 vs. 482 last year.

These figures show a growing, more balanced market with stronger buyer activity and broader choices compared to early 2024.

The Role of Interest Rates in the Market

Higher interest rates continue to influence buyer decisions, but many are finding creative financing solutions. Buyers are turning to rate buydowns, adjustable-rate mortgages (ARMs), and even seller concessions to make deals work in their favor.

What This Means for Buyers and Sellers

Advice for Buyers: Navigating the Market

• Take advantage of the increasing inventory and negotiate favorable terms.
• Don’t rush—homes are spending more time on the market, so you can explore options.
• Focus on well-priced properties in great condition—they’re still moving quickly.

Advice for Sellers: Maximizing Your Sale

• Price your home right from the start to attract serious buyers.
• Invest in professional staging and photography to stand out in a crowded market.
• Partner with an experienced real estate agent to create a strategic marketing plan and ensure a smooth transaction.

Spotlight on Las Vegas Neighborhoods

Most Popular Areas for Buyers

• Summerlin – Known for its family-friendly environment, luxury homes, and community amenities.
• Henderson – Offers a blend of affordability and upscale living, great for families and retirees.
• Southwest Las Vegas – A fast-growing area with modern homes and convenient access to shopping and dining.

Hidden Gems for Great Deals

• North Las Vegas – Affordable homes and new development opportunities.
• Downtown Las Vegas – Revitalized urban living with walkable neighborhoods, culture, and entertainment.

Market Predictions: What Lies Ahead

Home Prices: Stability or Growth?

Experts predict that home prices will remain stable, with minor increases in high-demand areas like Summerlin and Henderson. The expanding inventory will help prevent rapid price increases while maintaining strong buyer interest.

Inventory Projections for the Coming Months

Inventory levels are expected to rise gradually, creating more buyer opportunities and contributing to a healthier, more balanced market environment. This trend is ideal for both cautious buyers and strategic sellers.

Conclusion

The Las Vegas real estate market remains steady and balanced, offering opportunities for both buyers and sellers. With strong activity, a growing inventory, and stable prices, it’s a great time to make your move—whether you're searching for a luxury estate or a cozy starter home.

Thinking of buying or selling? Contact The Brendan King Group today for expert guidance and personalized service!

FAQs

1. Is it a buyer’s or seller’s market right now?
   It’s a balanced market, slightly leaning toward buyers due to growing inventory.
2. Will home prices drop in Las Vegas?
   Prices are holding steady, with modest fluctuations depending on neighborhood and demand.
3. How long do homes take to sell in Las Vegas?
   On average, homes are selling in about 42 days, with luxury homes averaging around 54 days.
4. Should I sell my home now or wait?
   Now is a good time to sell, especially if your home is priced competitively and properly marketed.
5. What are the top neighborhoods to buy a home in Las Vegas?
   Summerlin, Henderson, and Downtown Las Vegas remain among the most desirable areas for buyers.

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AREYOU LOOKING FOR A HOME OVER $1,000,000 CHECK OUT OUR LUXURY DIVISION WWW.BKGLUXURY.COM

Luxury Market Spotlight: $6.1M Sale of the Week

The luxury market continues to be a standout segment in Las Vegas real estate. The most expensive home sold this week fetched $6,100,000, highlighting ongoing demand for exclusive, high-end properties.

Homes priced over $1 million averaged a sales price of $1,962,174 and spent about 54 days on the market, reflecting the slower but steady nature of luxury transactions.

Current luxury segment snapshot:

• 930 Active Listings
• 77 New Listings
• 23 Homes Sold
• 41 Homes Under Contract

Luxury buyers continue to seek out unique homes with standout features, exceptional locations, and lifestyle-driven design.

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Text: Market To: 702-553-1955

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Brendan King S.0171492

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The Brendan King Group

Office: 702-625-3457

Email: info@kingvegashomes.com

Website: https://www.kingvegashomes.com/

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Real Broker, LLC

7997 W. Sahara Ave. #101 Las Vegas, NV 89117

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