Market Updates · August 2025
Las Vegas Market Update: August 2025
By Matthew Gambill, Broker-Owner
This update covers Las Vegas data for August 2025. Report released .
Compared with August 2024, a smaller share of Las Vegas homes sold within 30 days in August 2025. Of single-family homes that closed, 54.1% sold that quickly, down 12.7 points from 66.8% a year earlier, and the condo and townhome share was 48.9%, down 12.2 points from 61.1% (Las Vegas REALTORS, August 2025). Single-family months of supply was 3.9, up 59.4% on the year.
Sources: Las Vegas REALTORS, August 2025; Zillow Observed Rent Index; Shelter Realty, September 10, 2026.
Key Numbers
Figures for August 2025, compared with July 2025 and August 2024.
| Metric | August 2025 | July 2025 | August 2024 | Change from July | Change from a year earlier |
|---|---|---|---|---|---|
| Single-family median sales price | $480,000 | $485,000 | $476,875 | down 1.0% | up 0.7% |
| Single-family homes sold | 1,835 | 2,021 | 2,138 | down 9.2% | down 14.2% |
| Single-family new listings | 3,192 | 3,242 | 3,153 | down 1.5% | up 1.2% |
| Single-family homes for sale without offers | 7,206 | 7,147 | 5,268 | up 0.8% | up 36.8% |
| Single-family months of supply | 3.9 | 3.5 | 2.5 | up 11.0% | up 59.4% |
| Single-family homes sold within 30 days (share) | 54.1% | 56.0% | 66.8% | down 1.9 points | down 12.7 points |
| Condo and townhome median sales price | $298,000 | $290,000 | $292,000 | up 2.8% | up 2.1% |
| Condos and townhomes sold | 485 | 547 | 573 | down 11.3% | down 15.4% |
| Condo and townhome new listings | 919 | 938 | 897 | down 2.0% | up 2.5% |
| Condos and townhomes for sale without offers | 2,560 | 2,622 | 1,640 | down 2.4% | up 56.1% |
| Condo and townhome months of supply | 5.3 | 4.8 | 2.9 | up 10.1% | up 84.4% |
| Condos and townhomes sold within 30 days (share) | 48.9% | 47.5% | 61.1% | up 1.4 points | down 12.2 points |
| Zillow Observed Rent Index (asking rent) | $1,720 | $1,718 | $1,712 | up 0.1% | up 0.5% |
Sources: Las Vegas REALTORS, August 2025 (home sales rows); Zillow Observed Rent Index (rent row).
Change From July
Single-family closings fell 9.2% from July, to 1,835, and condo and townhome closings fell 11.3%, to 485 (Las Vegas REALTORS, August 2025). Single-family months of supply rose to 3.9 from 3.5, and the condo and townhome figure rose to 5.3 from 4.8. New single-family listings totaled 3,192, down 1.5% from July.
Single-Family and Condo Prices
The single-family median sales price was $480,000, down 1.0% from July's $485,000 and up 0.7% from a year earlier (Las Vegas REALTORS, August 2025). The condo and townhome median rose 2.8% from July, to $298,000, and was up 2.1% from August 2024.
More Inventory Than a Year Earlier
Single-family homes for sale without offers numbered 7,206, up 0.8% from July and up 36.8% from August 2024. Condo and townhome inventory was 2,560, down 2.4% from July and up 56.1% from a year earlier (Las Vegas REALTORS, August 2025). Closings were lower than a year ago, down 14.2% for single-family homes and down 15.4% for condos and townhomes.
Asking and Completed Rents
The Zillow Observed Rent Index for the Las Vegas metro was $1,720, up 0.1% from July and up 0.5% from August 2024, across all rental types. Shelter Realty's September 2026 rental report, which uses Las Vegas REALTORS data, gives $2,000 as the August 2025 median for completed MLS leases, mostly houses and condos.
Owners comparing renting with selling had a $480,000 single-family median, 3.9 single-family months of supply and a $2,000 median completed lease to go on. Those are market-wide figures, and a single home can do better or worse.
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Frequently Asked Questions
What was the median home price in Las Vegas in August 2025?
It was $480,000 for single-family homes, up 0.7% from a year earlier, according to Las Vegas REALTORS, August 2025. The condo and townhome median was $298,000.
How many homes sold in Las Vegas in August 2025?
According to Las Vegas REALTORS, August 2025, 1,835 single-family homes and 485 condos and townhomes closed.
What was the median rent in Las Vegas in August 2025?
Shelter Realty's rental report put the median completed MLS lease at $2,000. The Zillow Observed Rent Index for the metro was $1,720, up 0.5% from a year earlier.
How many months of supply did Las Vegas have in August 2025?
Single-family homes had 3.9 months of supply and condos and townhomes had 5.3, according to Las Vegas REALTORS, August 2025.
Do these numbers apply to my neighborhood?
Not directly. They're market-wide figures, and results for a single home can differ by neighborhood and by the home itself.
Sources
Las Vegas REALTORS, August 2025: home prices, sales, listings, inventory and months of supply
Zillow Observed Rent Index (ZORI), Las Vegas metro, smoothed and seasonally adjusted: asking rents
Shelter Realty, Monthly Las Vegas Rental Report (September 2026), September 10, 2026: August 2025 median completed lease (the year-earlier figure in that report), from Las Vegas REALTORS data
Related Reading
About the Author
Matthew Gambill is a Broker-Owner of The Property Management Firm, a Nevada-licensed brokerage that primarily manages long-term residential rentals in Las Vegas, North Las Vegas and Henderson. Meet the brokers.
This is general market information, not financial or legal advice. Market-wide figures can be revised and won't match every home, so talk with a licensed professional about your own situation.
Based on information from the Greater Las Vegas Association of REALTORS® Multiple Listing Service for the period August 1, 2025 through August 31, 2025.
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