Current home values in Las Vegas

Since 2021, the median home value in Las Vegas metro area has surged 33%. In June 2021, the typical home sold for $395,000, compared to $525,000 in June of this year, according to data from the Las Vegas Association of Realtors.

Housing inventory seems to be making a comeback in the Las Vegas market, after it was down more than 20% in Q1 2024 compared to the previous year.

“Since then, our inventory has been increasing,” said Merri Perry, President at Las Vegas Realtors (LVR), in a recent article by the Las Vegas Review-Journal. “Through the end of May, LVR statistics show a 6 percent increase in the number of homes available for sale and a 43 percent increase in the number of condos and townhomes available for sale compared to the same time last year.”

She also adds, “We continue to have a very tight housing supply here in Southern Nevada. The same is true across most of the country.”

The table below illustrates just how high home prices have climbed in the Las Vegas region over the last four years:

This trend isn’t unique to Sin City alone; it’s reflected in housing markets across the U.S. According to the S&P CoreLogic Case-Shiller National Home Price Index, home prices nationwide have surged by 47% since the start of 2020.

As a result, homeowners have seen a significant increase in equity, which can be leveraged for new property investments, home improvements, paying off debts, or retirement savings. According to ICE’s Mortgage Monitor report, as of early 2024, the average U.S. homeowner with a mortgage holds approximately $299,000 in equity.

For comparison, the table below shows median home prices in cities near Las Vegas:

In the next section, we’ll show you several methods for estimating the current value of your Las Vegas home.