Las Vegas Real Estate Market Trends
Home prices in Las Vegas are rising, leading to an affordability crisis for potential buyers. The high-end real estate market remains strong while the overall market is showing signs of softening.
Key Points
- Median home price in Las Vegas reached $469,974 in February 2025
- Number of active listings in Las Vegas increased by over 60% year over year
- Affordability crisis due to low average income and rising home prices
- High-end real estate market is seeing growing demand with decreasing time on the market
Pros
- High-end real estate market in Las Vegas is thriving
- Population growth in the metro area ensures built-in demand for housing
- Planned Brightline West train line connecting Las Vegas to Southern California could attract more buyers
Cons
- Affordability crisis as the average working adult cannot afford a single-family home
- Market stability is still a concern due to past cataclysmic events like the Great Recession and COVID-19 pandemic