Real Estate Market Update: Las Vegas (May 2025) - Examples to Save Money

Описание: 0:00 Intro
0:34 Actionable Insights (Shop for Interest Rates, Save Money, Example)
8:43 Actionable Insights (Caution about Developer Buy-Downs)
13:00 Market Update (Interest Rates)
18:00 Market Update (Sales Prices)
31:16 Market Update (Demand Numbers)
37:28 Market Update (Foreclosure Sales)
38:47 Market Update (Supply Numbers)
43:07 Market Update (Actual “Real” Inventory) – Disaster
50:15 Note re Statistics
56:32 Market Update (Failed Contracts)
58:33 Outro

Las Vegas Real Estate Market Update for May 2025

Welcome to your go-to source for the latest insights and updates on Real Estate! With this May release, the Monthly Market Update now includes an Actionable Insights section loan competition.

Insights – Shop for Better Rates:
Shop for Interest Rates. Getting multiple quotes from different lenders will NOT harm your credit score. Get at least two, and better three, interest rate quotes when you’re getting your pre-approval letters. I can help you find multiple quality lenders.

The video provides and example that, for the exact same purchase, would save you over $100 per month.

Market Highlights:
1. Price Stable:
o The median price for single-family resale home was flat from March, at $475,000.
o Median price for a resale condo was up $12,000 to $247,000 (up 5.5%).
o Median price for a resale townhome increased 0.9% MoM ($3,100) to $348,000.
o Price per Foot indicates relative market strength at the upper-end.

2. Sales Volume:
o SFR resales were Up 2.9% MoM to 1,994. Only 56 houses more than in March, despite strong spring selling seasonality.
o Condo resales were Down 4.6% to 261 Month-over-Month.
o Townhome resales were Down 2.0% MoM to 244.
o Pending sales increased in all sub-markets, but well below normal seasonal patterns.

3. Foreclosure Sales Volume:
o No Residential Foreclosures Sales so far in 2025.

4. Inventory: This is where things become problematic.:
o SFR for sale listings were Up again (3.1% or 185 units) to 6,162 – a really weak increase for spring.
o Condo listings Increased, but only by 21 units MoM. Townhome listings were Down 1.8% MoM.
o Newly Listed inventory – only SFR increased (marginally), Condos and Townhomes both showed deterioration.

5. Real Inventory:
o Median Listing Price for SFR resales is $575,000. This is $100,000 higher than Median Sold Price. That suggests a lot of inventory is fake. Normalizing List Price to Sold Price, we only have 2,960 SFR in inventory. That means Real Inventory is only 25% of Normal Inventory for this time of year.

Key Takeaways:
• The Las Vegas housing market continues to show dramatic inventory problems, and it appears the problems are continuing to get worse.
• Interest Rates and Inventory remained approximately constant. Demand is tepid.
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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 come 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.