Market Updates · January 2025
Las Vegas Market Update: January 2025
By Matthew Gambill, Broker-Owner
This update covers Las Vegas data for January 2025. Report released .
A smaller share of Las Vegas homes sold within 30 days in January 2025 than in December. Of the single-family homes that closed, 47.0% sold that quickly, down 3.1 points from 50.1%, and the condo and townhome share was 51.1%, down 1.5 points from 52.6% (Las Vegas REALTORS, January 2025). The single-family median sales price was $485,000, up 9.0% from January 2024.
Sources: Las Vegas REALTORS, January 2025; Zillow Observed Rent Index.
Key Numbers
Figures for January 2025, compared with December 2024 and January 2024.
| Metric | January 2025 | December 2024 | January 2024 | Change from December | Change from a year earlier |
|---|---|---|---|---|---|
| Single-family median sales price | $485,000 | $475,000 | $445,000 | up 2.1% | up 9.0% |
| Single-family homes sold | 1,578 | 1,811 | 1,479 | down 12.9% | up 6.7% |
| Single-family new listings | 3,130 | 1,754 | 2,432 | up 78.4% | up 28.7% |
| Single-family homes for sale without offers | 5,215 | 4,965 | 3,551 | up 5.0% | up 46.9% |
| Single-family months of supply | 3.3 | 2.7 | 2.4 | up 20.5% | up 37.6% |
| Single-family homes sold within 30 days (share) | 47.0% | 50.1% | 52.5% | down 3.1 points | down 5.5 points |
| Condo and townhome median sales price | $293,000 | $290,000 | $275,000 | up 1.0% | up 6.5% |
| Condos and townhomes sold | 413 | 466 | 476 | down 11.4% | down 13.2% |
| Condo and townhome new listings | 955 | 608 | 781 | up 57.1% | up 22.3% |
| Condos and townhomes for sale without offers | 1,896 | 1,763 | 1,136 | up 7.5% | up 66.9% |
| Condo and townhome months of supply | 4.6 | 3.8 | 2.4 | up 21.3% | up 92.4% |
| Condos and townhomes sold within 30 days (share) | 51.1% | 52.6% | 55.9% | down 1.5 points | down 4.8 points |
| Zillow Observed Rent Index (asking rent) | $1,719 | $1,714 | $1,689 | up 0.3% | up 1.8% |
Sources: Las Vegas REALTORS, January 2025 (home sales rows); Zillow Observed Rent Index (rent row).
New Listings Rose From December
Sellers listed 3,130 single-family homes, up 78.4% from December and up 28.7% from January 2024, and 955 condos and townhomes, up 57.1% from December (Las Vegas REALTORS, January 2025). Single-family homes for sale without offers numbered 5,215, up 5.0% from December, and condo and townhome inventory was 1,896, up 7.5%.
Fewer Closings Than in December
Single-family closings fell 12.9% from December, to 1,578, and condo and townhome closings fell 11.4%, to 413 (Las Vegas REALTORS, January 2025). Compared with January 2024, single-family closings were up 6.7% and condo and townhome closings were down 13.2%. Single-family months of supply rose to 3.3 from 2.7, and the condo and townhome figure rose to 4.6 from 3.8.
Median Prices in January
The single-family median was up 2.1% from December's $475,000, and it compared with $445,000 in January 2024 (Las Vegas REALTORS, January 2025). The condo and townhome median was $293,000, up 1.0% from December and up 6.5% from a year earlier.
January Asking Rents
The Zillow Observed Rent Index for the Las Vegas metro was $1,719, up 0.3% from December and up 1.8% from January 2024. It tracks asking rents across all rental types.
Owners weighing a sale against a lease had a $485,000 single-family median and 3.3 single-family months of supply to go on. Those figures cover the whole market, and a single home can lease or sell for more or less.
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Frequently Asked Questions
What was the median home price in Las Vegas in January 2025?
It was $485,000 for single-family homes, up 9.0% from a year earlier, according to Las Vegas REALTORS, January 2025. The condo and townhome median was $293,000.
How many homes sold in Las Vegas in January 2025?
According to Las Vegas REALTORS, January 2025, 1,578 single-family homes and 413 condos and townhomes closed.
What was the median rent in Las Vegas in January 2025?
The Zillow Observed Rent Index for the metro was $1,719, up 1.8% from a year earlier.
How many months of supply did Las Vegas have in January 2025?
Single-family homes had 3.3 months of supply and condos and townhomes had 4.6, according to Las Vegas REALTORS, January 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, January 2025: home prices, sales, listings, inventory and months of supply
Zillow Observed Rent Index (ZORI), Las Vegas metro, smoothed and seasonally adjusted: asking rents
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 January 1, 2025 through January 31, 2025.
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