In April 2025, the Las Vegas and Clark County housing market continued to adjust in response to broader national economic trends, including higher mortgage rates and shifts in buyer behavior. While the national pace of home price appreciation has slowed, up just 1.3% year-over-year, Las Vegas remains a dynamic market with ongoing buyer interest and expanding inventory.
Local Market Snapshot
According to the latest data, inventory in Las Vegas rose to 8,580 listings in April 2025, up from 5,341 in April 2024. This 60% increase in available homes is offering buyers more choices than they’ve had in recent years. Meanwhile, the average listing price has held steady, ticking up slightly from $474,923 to $475,000, reflecting price stability even amid broader economic headwinds.
Sales activity has moderated slightly, with 2,174 homes sold in April 2025 compared to 2,339 in April 2024, suggesting that while demand remains strong, buyers are taking more time to evaluate their options in a higher interest rate environment.
Balancing Opportunity with Caution
While mortgage rates remain elevated, averaging close to 7%, buyer interest in Southern Nevada continues to show resilience. Local real estate agents are reporting that homes priced competitively are still drawing attention, especially with the expanded selection and sellers showing greater flexibility on terms.
This increase in inventory is helping to ease some of the pressure buyers have faced in recent years, particularly around bidding wars and limited supply. The more balanced conditions are giving both sides of the transaction more room to negotiate and plan strategically.
National Trends in Context
Across the country, many housing markets are experiencing a mix of price movements. While cities like Austin and Jacksonville have seen price declines, Las Vegas has maintained relative price stability, a sign of its evolving and maturing real estate landscape. Factors such as steady population growth, ongoing economic development, and a recovering tourism sector are all contributing to local market health.
Outlook for the Remainder of 2025
Looking ahead, Las Vegas is well-positioned compared to many other metropolitan areas. Though affordability remains a consideration, especially for first-time buyers, the combination of rising inventory and stable pricing offers opportunities not seen in several years.
Mortgage rates are likely to remain in the 6% to 7% range for the foreseeable future, which may continue to influence buying timelines. However, with more listings to choose from and sellers more open to negotiation, buyers in Las Vegas and Clark County are finding that now may be a good time to enter or move within the market.
Dulcie Crawford is a native Nevadan, born and raised in Las Vegas. Dulcie is a Community Expert & stays current with updates on market trends & market conditions. Her experience of 27 years will help you navigate the real estate landscape with confidence. A senior Realtor with Signature Real Estate Group, she has sold over 1,300 homes since 1998. You are assured an exceptional experience when buying or selling Real Estate with The Dulcie Crawford Group.
