.png)
If you're keeping an eye on the Las Vegas real estate market, this update is for you! Whether you're buying, selling, or investing, knowing the latest trends can give you a competitive edge. So, what happened in Vegas this past week? Let’s dive into the numbers, the trends, and what they mean for you.
Key Market Insights This Week
Before we break things down, here’s a quick snapshot of the market performance from July 10th through July 16th:
- 97% of List Price Received – Sellers are negotiating slightly, but still getting close to their asking price.
- 42 Days on Market – Homes are moving steadily, giving buyers a bit of time to act.
- 16.7 Weeks of Supply – Leaning toward a balanced market with good opportunities on both sides.
- 666 New Listings – A fresh wave of inventory for eager buyers.
- 6,969 Active Listings – A wide range of options across price points.
- 417 Homes Sold This Week – Strong sales activity showing continued buyer interest.
- 424 Homes Under Contract – A healthy pipeline of deals being made.
- $657,666 Average Weekly Sales Price – Solid prices across the city reflecting strong value.
- $25,250,000 Highest Sale This Week – Luxury real estate remains a dominant force in Las Vegas.
Home Prices: Are They Rising or Falling?
The average sales price this week came in at $657,666, which marks a healthy consistency in the market. This steady figure tells us buyers are still active and willing to pay fair market value for well-priced homes.
Is a price drop coming? Possibly, in select neighborhoods with rising supply. But homes in prime condition and ideal locations are still attracting top-dollar offers, especially those move-in ready.
Days on Market: How Fast Are Homes Selling?
Properties spent an average of 42 days on the market, giving buyers a little more breathing room compared to peak market conditions. This is great news for those who don’t want to rush into decisions.
Sellers should take note—homes are still selling, but only if they’re priced correctly and presented well. Overpricing could lead to extended time on the market and eventual price drops.
Inventory Levels: Are There Enough Homes for Buyers?
With 666 new listings added this week and a total of 6,969 active listings, the Las Vegas market offers a wide selection. The 16.7 weeks of supply suggests we’re in a transitioning market—no longer as seller-dominant as before, but far from a full buyer’s market.
This gives buyers more leverage than in recent years. Sellers will need to ensure their homes are staged and priced to stand out.
Sales Volume: How Many Homes Are Changing Hands?
A total of 417 homes sold this week, alongside 424 under contract, showcasing a stable and competitive landscape. Despite the summer heat, activity remains strong, with buyers motivated to secure homes before the back-to-school season or end-of-year financial planning.
How This Week Compares to Last Year
Market Trends Year Over Year
Let’s look at where we were last year during this time and where we are now:
- Active Listings: 6,969 vs. ~5,700 in 2024
- Homes Sold: 417 vs. ~380 in 2024
- Under Contract: 424 vs. ~400 in 2024
This shows a market that is expanding in inventory, yet maintaining strong buyer demand.
The Role of Interest Rates in the Market
While mortgage rates remain a concern, many buyers are leveraging creative financing solutions like:
- Rate buydowns
- Adjustable-rate mortgages (ARMs)
- Seller incentives to offset closing costs
These options are helping keep deals moving even in a higher-rate environment.
What This Means for Buyers and Sellers
Advice for Buyers: Navigating the Market
- Take advantage of expanded inventory and explore different areas.
- Move quickly on competitively priced homes.
- Don’t be afraid to negotiate—especially on homes that have been sitting.
- Partner with an experienced local agent for insights into pocket listings and off-market deals.
Advice for Sellers: Maximizing Your Sale
- Price strategically—don't chase yesterday’s market highs.
- Use professional photos and video tours to enhance appeal.
- Make minor upgrades to add perceived value.
- Be open to reasonable offers and negotiate smartly.
Spotlight on Las Vegas Neighborhoods
Most Popular Areas for Buyers
- Summerlin – Family-friendly, master-planned living with tons of amenities.
- Henderson – Clean, safe, and close to Lake Las Vegas with new development.
- Southwest Las Vegas – Great value and proximity to the Strip and airport.
Hidden Gems for Great Deals
- North Las Vegas – Budget-friendly and expanding infrastructure.
- Downtown Las Vegas – Urban revitalization continues to attract both young professionals and investors.
Market Predictions: What Lies Ahead
Home Prices: Stability or Growth?
Prices are expected to remain stable for the remainder of the summer. Look for slight appreciation in high-demand areas like Summerlin, Green Valley, and MacDonald Highlands.
Inventory Projections for the Coming Months
Expect a modest increase in inventory as more sellers list before the fall season. This gives buyers more selection and strengthens negotiation potential.
Conclusion
The Las Vegas real estate market continues to show strong performance, balancing increased inventory with steady buyer activity. From mid-range family homes to multimillion-dollar luxury estates, there’s movement at every level.
Whether you're buying, selling, or investing, being informed is your best tool in this market. Want guidance tailored to your goals? Reach out to The Brendan King Group @ REAL for expert insight and personalized service.
FAQs
1. Is Las Vegas real estate still competitive?
Yes, especially for well-priced homes. While buyers have more options now, hot properties still go quickly.
2. Will interest rates drop this year?
Predictions vary, but many analysts expect stabilization or slight decreases by year-end.
3. What’s the average price of a luxury home in Vegas right now?
Luxury homes ($1M+) averaged $2.6M in sales this week.
4. Should I wait to buy in hopes prices will drop?
Not necessarily. Prices are stable, and waiting could mean missing out on your ideal home or paying more later.
5. Where can I view luxury listings and weekly updates?
Visit www.bkgluxury.com for the latest listings, stats, and real estate content.
AREYOU LOOKING FOR A HOME OVER $1,000,000 CHECK OUT OUR LUXURY DIVISION WWW.BKGLUXURY.COM
Luxury Market Spotlight: $25.25M Sale of the Week
The standout moment of the week? A stunning $25,250,000 sale, making it one of the highest luxury closings in Vegas this year. High-net-worth individuals continue to invest in luxury properties offering privacy, prestige, and premium amenities.
Other notable luxury figures:
- Average Price for $1M+ Homes: $2,622,828
- Average Days on Market: 92
- New Listings in Luxury: 80
- Luxury Homes Sold: 32
- Luxury Homes Under Contract: 38
- Active Luxury Listings: 1,204
Luxury homes are spending more time on the market, but they’re still moving—especially those in elite communities with top-tier finishes and views.
To receive the Market Updates weekly
Text: Market To: 702-553-1955
Brendan King S.0171492
The Brendan King Group
Office: 702-625-3457
Email: info@kingvegashomes.com
Website: https://www.kingvegashomes.com/
Real Broker, LLC
7997 W. Sahara Ave. #101 Las Vegas, NV 89117
Instagram: @brendankinggroup
Facebook: https://www.facebook.com/kingvegashomes
LinkedIn: https://www.linkedin.com/in/kingvegashomes
Twitter: @kingvegashomes
Summerlin Home Search https://bit.ly/3dr5Ian
New Home Site: https://www.showingnew.com/kingvegashomes
