Las Vegas home prices retreated in July from the record high set in May and June, according to data from Las Vegas Realtors.
The median price of a single-family home sold last month in Southern Nevada was $480,000. This marked a 2% drop from the peak price of $490,000 recorded in the prior two months. On a year-over-year basis, the median price was down by 1%.
The median price for condos and townhomes last month was $290,000, unchanged from July 2025. The record high for that sector of the Las Vegas market was $315,000 set in October 2024.
“Despite the slight decline in prices during July, we’re seeing a steady demand for homes here in Southern Nevada, and that continues to drive home sales and keep prices near record levels,” said George Kypreos, president of Las Vegas Realtors. “That demand has stayed strong even though mortgage rates have remained elevated.”
Las Vegas Realtors reported 2,587 existing local homes, condos and townhomes sold in July. The trade group reported 7,442 single-family homes were listed for sale in July without an offer, up 4.1% from one year earlier, while 2,719 condos and townhomes were also listed without offers, a 3.7% increase from one year before.
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