Las Vegas Real Estate Market Update: March 12th – March 19th, 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:

• 97% of List Price Received – Sellers are negotiating slightly but still receiving strong offers.
• 43 Days on Market – Homes are moving at a steady pace, giving buyers some breathing room.
• 12 Weeks of Supply – A balanced market with plenty of inventory.
• 599 New Listings – Fresh opportunities for buyers entering the market.
• 5,301 Active Listings – A wide range of choices for prospective buyers.
• 441 Homes Sold This Week – A healthy volume of transactions across the city.
• 509 Homes Under Contract – Strong buyer activity, reflecting continued demand.
• $595,277 Average Weekly Sales Price – A solid price point that showcases a stable market.
• $10,450,000 Highest Sale This Week – The luxury market continues to thrive in Las Vegas.

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Home Prices: Are They Rising or Falling?

Las Vegas home prices remained steady this week, with an average sales price of $595,277. This suggests a stable and healthy market where demand is still meeting supply.

If you’re wondering whether prices will rise further, it all depends on how inventory trends in the coming months. While more listings may temper price increases, move-in-ready homes in desirable neighborhoods are still commanding strong offers.

Days on Market: How Fast Are Homes Selling?

Homes spent an average of 43 days on the market this week, offering buyers a bit more flexibility compared to the fast-paced markets of previous years.

For sellers, this means it’s more important than ever to price your home competitively and ensure it's presented in its best light. Homes that linger on the market too long often see reduced interest and lower offers.

Inventory Levels: Are There Enough Homes for Buyers?

The market added 599 new listings this week, bringing the total active inventory to 5,301 homes. With 12 weeks of supply, we’re in a more balanced environment, leaning slightly in favor of buyers.

For buyers, this means more options, better negotiating power, and less pressure. For sellers, the competition is growing—so presentation, pricing, and marketing are crucial.

Sales Volume: How Many Homes Are Changing Hands?

This week, 441 homes sold, indicating a strong level of market activity. While sales volume is consistent with seasonal trends, it also reflects a confident buyer pool.

Additionally, 509 homes went under contract, showing that buyers remain active and engaged in their home search. Even with slightly higher interest rates, demand continues to hold steady.

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: 5,301 vs. 4,732 last year.
• Homes Sold: 441 vs. 397 last year.
• Under Contract: 509 vs. 468 last year.

These numbers suggest that the market is more balanced today, with a broader selection of homes and consistent buyer demand.

The Role of Interest Rates in the Market

Interest rates continue to influence the market, but many buyers are adjusting through options like rate buydowns, adjustable-rate mortgages (ARMs), and seller-paid concessions. Buyers are adapting rather than backing out, which is a positive sign for the overall market.

What This Means for Buyers and Sellers

Advice for Buyers: Navigating the Market

• Take advantage of the growing inventory and negotiate better terms.
• Don’t feel rushed—homes are spending more time on the market, giving you time to make informed decisions.
• Prioritize well-priced properties—they’re still moving fast, even in a more balanced market.

Advice for Sellers: Maximizing Your Sale

• Price your home correctly to avoid it sitting too long.
• Invest in professional staging and high-quality photos to make your listing stand out.
• Work with a skilled agent who can guide you through competitive marketing strategies and negotiations.

Spotlight on Las Vegas Neighborhoods

Most Popular Areas for Buyers

• Summerlin – A top choice for its luxury homes, schools, parks, and amenities.
• Henderson – A family-friendly area with a mix of affordability and upscale living.
• Southwest Las Vegas – Rapidly developing, with modern homes and convenient access to shops, dining, and recreation.

Hidden Gems for Great Deals

• North Las Vegas – Affordable housing and new construction options are drawing attention.
• Downtown Las Vegas – A revitalized area offering urban living, walkability, and a vibrant lifestyle scene.

Market Predictions: What Lies Ahead

Home Prices: Stability or Growth?

Market experts forecast stable home prices over the next few months, with minor increases in high-demand areas like Summerlin and Henderson. While the market isn’t red-hot, it’s still strong and healthy.

Inventory Projections for the Coming Months

Inventory is expected to grow gradually, offering buyers more selection and balancing the market even further. Sellers will need to focus on standing out through value, presentation, and strategic pricing.

Conclusion

The Las Vegas real estate market remains steady and balanced, offering great opportunities for both buyers and sellers. With growing inventory, consistent buyer activity, and stable pricing, it’s an ideal time to make a move—whether you're upsizing, downsizing, or buying for the first time.

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

FAQs

1. Is it a buyer’s or seller’s market right now?
   It’s a balanced market, giving both buyers and sellers solid opportunities.
2. Will home prices drop in Las Vegas?
   Prices are holding steady, with modest increases in some high-demand areas.
3. How long do homes take to sell in Las Vegas?
   On average, homes are selling in about 43 days, with luxury homes averaging 41 days.
4. Should I sell my home now or wait?
   Now is a great time to sell—especially if your home is priced competitively and shows well.
5. What are the top neighborhoods to buy a home in Las Vegas?
   Summerlin, Henderson, and Downtown Las Vegas remain top choices, offering a blend of lifestyle, location, and long-term value.

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

Luxury Market Spotlight: $10.45M Sale of the Week

The luxury market remains a major highlight of Las Vegas real estate. The most expensive home sold this week reached an impressive $10,450,000—a clear sign that the high-end market is thriving.

Luxury homes priced over $1 million averaged a sales price of $1,845,759, with properties spending an average of 41 days on the market. This shows that well-presented luxury homes are selling quickly when priced appropriately.

Current luxury market snapshot:

• 1,020 Active Listings
• 85 Newly Listed
• 29 Homes Sold
• 33 Under Contract

Luxury buyers are still looking for exclusivity, space, and premium finishes—keeping this segment active and competitive.

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To receive the Market Updates weekly

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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