Market Updates · July 2025
Las Vegas Market Update: July 2025
By Matthew Gambill, Broker-Owner
This update covers Las Vegas data for July 2025. Report released .
The Las Vegas condo and townhome median sales price fell 4.9% in July 2025, to $290,000 from $305,000 in June (Las Vegas REALTORS, July 2025). The single-family median held at $485,000. Closings rose for both home types: 2,021 single-family homes, up 3.9%, and 547 condos and townhomes, up 6.2%.
Sources: Las Vegas REALTORS, July 2025; Zillow Observed Rent Index; Shelter Realty, August 11, 2026.
Key Numbers
Figures for July 2025, compared with June 2025 and July 2024.
| Metric | July 2025 | June 2025 | July 2024 | Change from June | Change from a year earlier |
|---|---|---|---|---|---|
| Single-family median sales price | $485,000 | $485,000 | $480,000 | no change | up 1.0% |
| Single-family homes sold | 2,021 | 1,946 | 2,145 | up 3.9% | down 5.8% |
| Single-family new listings | 3,242 | 3,252 | 2,962 | down 0.3% | up 9.5% |
| Single-family homes for sale without offers | 7,147 | 6,992 | 4,634 | up 2.2% | up 54.2% |
| Single-family months of supply | 3.5 | 3.6 | 2.2 | down 1.6% | up 63.7% |
| Single-family homes sold within 30 days (share) | 56.0% | 61.4% | 69.9% | down 5.4 points | down 13.9 points |
| Condo and townhome median sales price | $290,000 | $305,000 | $296,000 | down 4.9% | down 2.0% |
| Condos and townhomes sold | 547 | 515 | 619 | up 6.2% | down 11.6% |
| Condo and townhome new listings | 938 | 926 | 826 | up 1.3% | up 13.6% |
| Condos and townhomes for sale without offers | 2,622 | 2,564 | 1,481 | up 2.3% | up 77.0% |
| Condo and townhome months of supply | 4.8 | 5.0 | 2.4 | down 3.7% | up 100.3% |
| Condos and townhomes sold within 30 days (share) | 47.5% | 50.7% | 61.6% | down 3.2 points | down 14.1 points |
| Zillow Observed Rent Index (asking rent) | $1,718 | $1,717 | $1,709 | up 0.1% | up 0.5% |
Sources: Las Vegas REALTORS, July 2025 (home sales rows); Zillow Observed Rent Index (rent row).
Compared With July 2024
The single-family median was up 1.0% from a year earlier, and the condo and townhome median was down 2.0% (Las Vegas REALTORS, July 2025). Single-family closings were down 5.8% from July 2024, and condo and townhome closings were down 11.6%.
The 30-Day Share Fell
Of the single-family homes that closed, 56.0% sold within 30 days, down 5.4 points from June's 61.4% and down 13.9 points from July 2024's 69.9%. The condo and townhome share was 47.5%, down 3.2 points from June (Las Vegas REALTORS, July 2025).
Months of Supply Eased
Single-family months of supply was 3.5, against 3.6 in June, and condo and townhome months of supply was 4.8, against 5.0. Single-family homes for sale without offers numbered 7,147, up 2.2% from June and up 54.2% from a year earlier (Las Vegas REALTORS, July 2025). Condo and townhome inventory was 2,622, up 2.3% from June.
Asking Rents and Completed Leases
The Zillow Observed Rent Index for the Las Vegas metro was $1,718, up 0.1% from June and up 0.5% from a year earlier, across all rental types. Shelter Realty's August 2026 rental report, which uses Las Vegas REALTORS data, gives $2,095 as the July 2025 median for completed MLS leases, mostly houses and condos.
Owners weighing renting against selling had a $485,000 single-family median and a $2,095 median completed lease to go on. Both are market-wide figures, and a single home can lease or sell for more or less.
How We Help Owners
We're a broker-owned, Nevada-licensed brokerage that primarily manages long-term residential rentals in Las Vegas, North Las Vegas and Henderson. We screen residents and handle the day-to-day work, and we check with you before larger repairs and before renewal terms are set. We hire professional photographers for all of our marketing photos. Get a Free Rental Analysis when you're ready, and we'll reply within one business day.
Frequently Asked Questions
What was the median home price in Las Vegas in July 2025?
It was $485,000 for single-family homes, up 1.0% from a year earlier, according to Las Vegas REALTORS, July 2025. The condo and townhome median was $290,000.
How many homes sold in Las Vegas in July 2025?
According to Las Vegas REALTORS, July 2025, 2,021 single-family homes and 547 condos and townhomes closed.
What was the median rent in Las Vegas in July 2025?
Shelter Realty's rental report put the median completed MLS lease at $2,095. The Zillow Observed Rent Index for the metro was $1,718, up 0.5% from a year earlier.
How many months of supply did Las Vegas have in July 2025?
Single-family homes had 3.5 months of supply and condos and townhomes had 4.8, according to Las Vegas REALTORS, July 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, July 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 (August 2026), August 11, 2026: July 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 July 1, 2025 through July 31, 2025.
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