LAS VEGAS (KTNV) — Las Vegas home prices are holding steady at record highs. A new report released by Las Vegas Realtors shows the median price for a single-family home hit $490,000 in June. That number matches the all-time high set in May.
It's also a 1% increase from this time last year.
Experts say a tight housing supply and strong demand are keeping prices high.
“Local home prices don’t always follow national trends, but they have been lately,” said LVR President George Kypreos. “Much like what we’re seeing here in Southern Nevada, the median home price in the U.S. recently hit an all-time high. Prices are staying at this level in part because of our relatively tight housing supply and the strong demand for homes here.”
LVR also reported a total of 2,823 existing local homes, condos and townhomes sold in June.
Compared to June 2025, sales were up 18.3% for homes and up 1.2% for condos and townhomes.
More than 7,000 homes are currently listed without an offer. That is a 2.2% increase from one year ago.
Other highlights include:
• In June, 78.5% of all existing local homes and 67.7% of all existing local condos and townhomes sold within 60 days. That’s down from one year earlier, when 82.8% of all homes and 72.8% of all condos and townhomes sold within 60 days.
• During June, LVR found that 23.2% of all local property sales were cash transactions. That’s down slightly from 23.1% one year earlier – well below the February 2013 cash buyer peak of 59.5%.
• The number of so-called distressed sales remains near historically low levels. LVR reported that short sales and foreclosures combined accounted for 1.4% of all existing local property sales in June. That compares to 0.8% one year ago.
• The total value of local real estate transactions tracked through the MLS during June was more than $1.4 billion for homes and more than $184 million for condos, high-rise condos and townhomes. Compared to one year earlier, total sales values in June were up 16.8% for homes and up 14.1% for condos and townhomes.
