Las Vegas Real Estate Market Update for June 2025

Описание: 0:00 Intro
1:21 Market Update (Interest Rates)
4:17 Market Update (Sales Prices)
11:51 Market Update (Demand Numbers)
17:48 Market Update (Supply Numbers)
20:35 Market Update (Actual “Real” Inventory) – Disaster
28:33 Market Update (Failed Contracts)
32:07 Outro

Las Vegas Real Estate Market Update for June 2025

Welcome to your go-to source for the latest insights and updates on Real Estate!

Market Highlights:
1. Price Stable:
o The median price for single-family resale home was flat for the third consecutive month at $475,000.
o Median price for a resale condo was up $2,500 to $249,500 (up 1.0%).
o Median price for a resale townhome decreased 2.3% MoM ($8,000) to $340,000.
o Price per Foot indicates the relative strength in the upper half of the market that we saw in March and April has dissipated, and in May the lower half performed better. This suggests enhanced sensitivity to uncertainty among high-end buyers.

2. Sales Volume – Incredibly Weak:
o In the heart of the Spring Selling Season, normal seasonal patterns would have May showing very strong sales. But not this year. Not at all.
o SFR resales were Down 3.7% MoM to 1,926. That’s 74 fewer houses sold in May relative to April.
o Condo resales were Down 3.2% to 241 Month-over-Month.
o Townhome resales were also Down 0.8% MoM to 237.
o Pending sales further Decreased in May in all sub-markets except Condos (a slight increase), despite strong seasonality effects that should pull pending contracts higher. This sets us up for a disappointing June.

3. Inventory:
o SFR for sale listings were Up (2.5% or 164 units) to 6,646 – but that’s a surprisingly weak inventory gain for spring.
o Condo listings Increased, but only by 2 units MoM. Townhome listings were also up, but only by 2.6% MoM.
o Newly Listed inventory – SFR newly listed for sale in May were down 6.4% from April, while Condos and Townhomes both showed small increases.
o Combined, this data suggests inventory growth in June should be minimal or potentially negative.

4. Real Inventory:
o But the real inventory story differs greatly, and shows continued very tight supply challenges.
o Median Listing Price for SFR resales is $559,000. This is $84,000 higher than Median Sold Price. That suggests a lot of inventory is fake (no searching buyer would ever discover it). Normalizing List Price to Sold Price, we only have 3,190 SFR in inventory. That means Real Inventory is less than 30% of Normal Inventory for this time of year.
o Real Inventory remains incredibly tight, despite headlines from other sources.

Key Takeaways:
• The Las Vegas housing market continues to show dramatic inventory problems, and it appears the problems are continuing to get worse.
• Demand remains tepid due to High Interest Rates and Extreme Economic Uncertainty

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For further inquiries or personalized real estate advice, feel free to reach out. I’m here to help you navigate the complexities of the Las Vegas housing market and achieve your real estate goals.
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Justin is a Navy veteran, and at the Chong Miller Group, about one-third of our clients are active-duty military or veterans, allowing us to develop significant insights into the specialized housing and financing needs of military members and their dependents. We also deploy this knowledge more broadly, to help investors and primary property buyers and sellers relocating to (or around) the Las Vegas Valley.

This video is a production of the Chong Miller Group, a Las Vegas real estate team, and features team principal Justin Miller. The data used in this video are from a variety of business and real estate sources. The Chong Miller Group is an independent real estate business, with our licenses hanging at Keller Williams Marketplace.

Justin Miller, Las Vegas Real Estate Broker/Salesperson, License No. BS.0145509 | Ph.D. NYU/Stern School of Business

Helping people build wealth through real estate.