NORTH LAS VEGAS (KTNV) — If you've been following our reporting on housing trends in our valley this year, you've seen all-time high prices and many locals saying they can't afford it. New numbers might offer some hope for certain buyers.
WATCH | Valley condo prices drop to lowest level since December — is now the time to buy?
“I was pleasantly surprised. I never would have thought about it," said Kimberly Nickerson, who just purchased a new condo with her partner Thomas Pipitone.
They moved into their new condo Friday, so when I arrived Tuesday, they gave me a tour of their new place.
“This is a 20-year-old build with a resale for us," said Pipitone. “I love the whole space to be honest.”
It's a 3-bed, 2-bath over 1,400 square foot condo with a balcony and drive way in a North Las Vegas gated community.
Take a guess, how much do you think it costs?
“$320,000 with all the upgrades you see here," Pipitone said.
The upgrades included new tile for the kitchen, new appliances, new cabinetry and a remodeled shower. I asked Nickerson if she was shocked seeing this condo at a price tag of $320,000.
"Yes I was, and the floor space, it has good floor space and without the yard maintenance and the two car garage and the driveway, it pretty much has everything as a house," Nickerson said.
According to the latest Las Vegas Association of Realtors (LVR) housing numbers for July 2025, the average price for a condo or townhome is $290,000 in our valley.
That's tied for the lowest price since April of 2024.
Here are the numbers for how much condos/townhomes cost each month:
- April 2024: $290,000
- May 2024: $294,400
- June 2024: $295,000
- July 2024: $296,000
- August 2024: $292,000
- September 2024: $299,500
- October 2024: $315,000 — the all-time record high
- November 2024: $301,250
- December 2024: $290,000
- January 2025: $293,000
- February 2025: $303,000
- March 2025: $306,495
- April 2025: $302,700
- May 2025: $307,000
- June 2025: $305,000
- July 2025: $290,000
WATCH | Las Vegas Realtors say home prices tie all-time record
July 2025 prices for condos and townhomes is down 2% from July 2024 and as you can see from these numbers, only December and April 2024 had a price as low as we had last month.
A price drop Nickerson and Pipitone took advantage of.
“We’ve been looking for five months or so watching the prices seeing what they were going to do. And that’s when we closed in July," Nickerson said.
Both of them have owned homes in the past, but Nickerson tells me she almost felt stuck, renting for the past five years. When she heard home prices were at an all-time high of $485,000 several months of this year, including July, she felt helpless.
I asked Nickerson if she ever thought she'd be a homeowner again with the increased prices.
"No, I didn’t. So, that’s one of the things he convinced me that we should look at something like a condo," Nickerson said.
Applied Analysis Principal Brian Gordon tells me he's also seeing a change.
“There’s no question the housing market is moderating, we’re seeing supply and demand adjust a little bit," Gordon said. He says homebuyers should take advantage of it.
“Look at $290,000 a unit, that’s a great price point," Gordon said.
He isn't convinced it'll stick around though.
As for Nickerson, she says she's just happy they took advantage of the price drop now.
Gordon tells me, while this drop in prices can help locals now, he says it's hard to tell if this will continue and it's too soon to call it a trend.
We will continue to keep our eye on it and bring you what we find out.
