LAS VEGAS (KTNV) — New numbers from Las Vegas Realtors show home prices are leveling off while the number of homes for sale is climbing.
WATCH | Abel Garcia breaks down the latest August numbers and what this means
In August, the median price of existing single-family homes was $480,000. That's slightly up from last year, but still below the record high of $485,000.
Condos and townhomes sold for a median price of $298,000, about a 2% jump from this time last year.
LVR says more homes are on the market for longer, with more than 7,200 single-family homes listed for sale without any offers. That's nearly 37% more than a year ago. Condo listings are up even more, more than 50%.
Read the full August report here:
Las Vegas Realtors August 2025 Housing Report by yolanda.cruz
Overall, sales were down in August, about 15% year-over-year, leaving Southern Nevada with a four-month housing supply. That's double what we saw last year.
So what does this all mean for you if you're trying to make the leap into homeownership?
Home prices haven't moved much, but there is some relief with mortgage rates dipping, and you have a lot more choice now.
WATCH | What is the impact of dropping mortgage rates for Southern Nevadans? Here's what you need to know