Las Vegas home prices remain near their all-time highs, with inventory levels surging and sales declining compared to last year, according to new data released this morning.

The median price for existing single-family homes in Southern Nevada hit $485,000 in July, matching the record high set earlier this year and representing a modest 1% increase from July 2024, Las Vegas Realtors reported this morning.

The number of available homes has jumped dramatically, with single-family home inventory rising 54% compared to last year and condo and townhome listings surging 77%. By the end of July, 7,147 single-family homes were listed for sale without offers, alongside 2,622 condos and townhomes.

“The biggest headline coming out of our housing market this year has been our increasing inventory,”

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