LAS VEGAS (KLAS) — Las Vegas house costs matched their report excessive, rising by $5,000 in June. Rental costs dropped by $2,000.
Las Vegas Realtors reported Tuesday the median worth for a single-family house in June was $485,000, the identical worth as the primary three months of 2025. Costs for condominiums/townhomes got here all the way down to $305,000, simply $10,000 in need of their all-time excessive. The median worth is the one within the center — half are greater and half are decrease.
“Although home prices bounced back to their previous peak, prices have actually been pretty stable so far this year,” LVR President George Kypreos mentioned.
“The biggest change in our local housing market lately has been the increasing number of homes available for sale, which is good for buyers. It should also be prompting to sellers to be realistic when pricing their properties,” Kypreos mentioned.
In comparison with final June, single-family houses aren’t as fast to promote in right now’s market. LVR figures present 82.8% of houses are promoting inside 60 days, in comparison with 86.9% final 12 months. For condos/townhomes, 60-day gross sales are all the way down to 72.8% in comparison with 83.0% final 12 months.
LAST MONTH: Las Vegas house costs secure; market shifting towards patrons, LVR says
An estimated four-month provide of houses obtainable on the present gross sales tempo is excess of the Las Vegas valley had a 12 months in the past, when the availability was estimated at two months.
LVR’s report summarizes gross sales made by means of its A number of Listings Service (MLS) and doesn’t embody new house development or houses on the market by their proprietor.
One other gauge of market exercise: By the tip of June, LVR reported 6,992 single-family houses listed on the market with none kind of supply, up 70.0% from one 12 months earlier. The two,564 condos/townhomes listed with out provides in June characterize an 87.6% leap from one 12 months earlier.
Total, the whole variety of gross sales was down 7.0% for single-family houses and 14.9% for condos/townhomes. That interprets to 2,461 gross sales in June, LVR reported.
A nationwide report from on-line mortgage dealer Redfin mirrored native statistics, exhibiting an all-time excessive $400,125 median sale worth for houses bought within the 4 weeks ending June 29. Redfin famous that patrons are getting a little bit of a break on mortgage funds as charges decline.
