Southern Nevada’s housing market continues its upward trajectory, with single-family homes maintaining a record-high median sales price of $485,000 in March, according to a report released this morning by Las Vegas Realtors.
This figure matches the all-time high first established in January and sustained through February of this year. Compared to March 2024, when the median price stood at $465,000, the current mark represents a significant year-over-year increase of 4.3%.
“It’s interesting to see that the median price of existing homes hasn’t changed since the start of 2025," George Kypreos, the president of Las Vegas Realtors, said in a statement.
“This is another indication of stability and how home prices have been increasing more gradually,” he said. “At the same time, homebuyers are benefiting from more homes available for sale and a recent drop in mortgage rates.”
In Southern Nevada, the median sale price of townhomes and condos sat at $306,495 in March, marking an 8.5% increase since March 2024. It fell short of the record high of $315,000 in October 2024.
The report shows 5,416 single-family homes listed without an offer at the end of March, an increase of 60.3% from March 2024. Additionally, the The 2,204 condos/townhomes listed without offers in March represented an 86.9% jump from last year.