The Las Vegas Housing Market Just Had a Busy Week – Here’s What It Means for You

by Keli James

You know how sometimes the news makes it sound like no one’s buying, no one’s selling, and we’re all just… waiting?
Yeah, that’s not what’s happening in Vegas right now.

This past week, the market was moving. Homes came on, went under contract, sold, and yes—prices got cut. A lot.

I’ve got all the juicy details for the numbers people, but if stats make your eyes glaze over, you can scroll to the bottom for the “just tell me what’s happening” summary.

The Week in Real Estate

Instead of giving you a spreadsheet, here’s what went down:

Price cuts everywhere — 1,094 homes dropped their price tags last week. That’s about 1 in every 10 homes for sale.
Fresh listings — 987 new properties hit the market.
Buyers are still making moves — 688 homes went under contract.
Closings happened — 510 buyers got keys in hand.
Some sellers tapped out — 379 pulled their homes from the market and 126 listings expired.

Who’s in the Spotlight?

Single-Family Homes (SFRs): They’re 71% of our market, and they saw the most action—both in price drops and in going under contract.
Townhomes: Almost as many price cuts as SFRs, with a big wave of new listings.
Condos: Moving slower—fewer price drops, but also fewer sales.
Manufactured Homes: Smallest market share, but highest close rate per listing.

Why This Matters to You

If you’re buying:
This is your chance to negotiate. Price reductions mean sellers are motivated, and in some cases, you can snag closing cost help or a rate buydown. The best deals? Homes that have been on the market for a few weeks but just had a price cut.

If you’re selling:
The first 10 days matter more than ever. Come out priced to attract, not repel. Buyers are savvy right now—they know when something’s overpriced. Get your home looking its best and launch strong.

If you’re waiting:
I get it—waiting feels safe. But real estate has its ups and downs, and since the Great Depression, home values have historically grown about 3–5% per year on average. Waiting for the “perfect time” usually means missing the perfect house.

The “Just Tell Me” Version

Buyers: You’ve got room to negotiate—especially on homes with fresh price cuts.
Sellers: Price it right from day one, or plan on cutting later.
The market is still moving—nearly 700 homes went under contract this week.
Long term? Real estate has a strong track record of growth.

And remember—this isn’t just numbers to me. My job is to guide you through the market so you can make a smart move, whether that’s buying, selling, or just gathering info for now.

📲 Call or text me at 702-265-4323. We’ll figure out the right next step for you, without pressure.

Keli James S.56134

Epique Realty

kelijameslv@gmail.com