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Las Vegas Housing is Getting More Affordable, But Prices Are Still Astronomically High

By Anne Erickson May 22nd
Las Vegas houses stand tall

There’s a trend right now in housing sales, and it’s true for the Las Vegas housing market. According to Forbes, major markets such as Seattle, Denver, Phoenix and Las Vegas have experienced major housing activity from 2021 until mid-2022, and that activity has been slowing down.

But, even with the slowing of the market, home prices are still historically when you compare prices to what they were before the pandemic hit in 2020. Forbes adds that, “The Las Vegas housing market is also ways interesting and was one of the biggest victims of the late-2000s housing bubble and crash.”

Las Vegas Housing

Forbes analyzed information from Redfin to look more closely at home costs in Sin City. Analyzing the information from Redfin, in Las Vegas proper, home prices peaked in June 2022. At that point, Las Vegas’s median sale price hit an all-time high of $434,000. Prices have been going down since then, and according to the data for March 2023, Las Vegas’ median sale price is $395,000. so quite a bit lower.

But, even though the median sale price in Las Vegas is down, home prices in Las Vegas are high. For example, in March 2019, the median sale price in Las Vegas was $275,000. That’s more than $100,000 less than it is today. Of course, part of the higher costs is due to demand. The number of homes available today is lower than is was during pre-pandemic days. What’s interesting is that Forbes notes that Las Vegas homes remain on the market longer today, too. Perhaps that has to do with the high housing prices. Find more information via Forbes here.

Nevada Spot is No. 3 on the Best of USA Travel List

  • 147. Get Tickets to Dive In Movies at The Cosmopolitan

    This one is is Las Vegas, Nevada. Travel Lemming states to see fun drive-in movies at The Cosmopolitan. That’s a great idea, right? “Float in one of Las Vegas’ most luxurious hotel pools while sipping a movie-themed cocktail and watching a film on the big screen,” they add.

    https://www.cosmopolitanlasvegas.com/

  • 88. Be on the Lookout for Aliens at Area 51

    Woah! This is in Rachel, Nevada. Travel Lemming says to look for aliens. To each their own! “Drive to the entrance gate of a top-secret government building and hang out in an out-of-this-world town full of model UFOs and alien-themed restaurants,” they explain.

    Area 51 Fast Facts | CNN

    Here's a look at Area 51, a highly classified United States Air Force facility located at Groom Lake in southern Nevada. The US government's official name for Area 51 is the Nevada Test and Training Range, which is a unit of the Nellis Air Force Base.

  • 78. Party All Night at Electric Daisy Carnival

    Here’s another Las Vegas option. Travel Lemming says, “Dance from dusk ‘til dawn to some of your favorite EDM artists at this world-renowned music and art festival.” Sounds fun, right? Let’s do it!

    EDC Las Vegas | May 19-21, 2023 | Las Vegas Motor Speedway

    Buy tickets to the festival, get camping info, learn all about EDC Las Vegas, and explore the world of Electric Daisy Carnival-the music, the rides, and the art.

  • 45. Bump Along in an ATV at Big Dune

    Here’s something fun in Amargosa Valley, Nevada. “The Big Dune recreation area is just over the Death Valley border and boasts one of the state’s best places for ATV adventures,” Travel Lemming explains.

    Amargosa Valley Sand Dunes | Sand Dunes Las Vegas | Travel Nevada

    The Amargosa Valley Sand Dunes, the largest sand dunes near Las Vegas, offer an ideal recreation area for ATVs and dune buggies. These hills are a well-kept secret and mostly used by locals, but expect to find plenty of other off-roaders on the weekends. The Dunes are about 15 miles east of Beatty.

  • 31. Bend Your Perception of Reality at Omega Mart

    Here’s a Las Vegas favorite. Travel Lemming says, “This alternate reality grocery store stocks funky products like bog water, 5G lip balm, plausible deniability, and mammoth chunks.” I’m in!

    Omega Mart | Explore Immersive Art | Meow Wolf Las Vegas

    Buy Tickets You Have No Idea What's In-Store for You Get lost in (and beyond) aisles of whimsical products as this irresistible story of a family-store-turned-supermarket unfurls into mega-impactful art. Every door or box of cereal at Omega Mart is a potential entryway into new worlds and artful revelations, while breathtaking installations from local and international artists offer enchanting spaces to wander.

  • 14. Suss Out Spooky Spots in Rhyolite Ghost Town

    I love a good ghost town! This is in Rhyolite, Nevada. “Touring what remains of Rhyolite is like experiencing a ghost story with a twist, for here, it is the living who haunt a place locked in a time,” Travel Lemming states.

    Discover Rhyolite Nevada Ghost Town Near Las Vegas

    Rhyolite should be a priority when planning a Nevada adventure. The now Rhyolite ghost town, sprung to life after a couple of prospectors discovered high-grade ore in 1905. Today, visitors can check out this incredible ghost town as a seamless day trip, just 120 miles northwest of Las Vegas.

  • 3. Catch a Sunrise in Valley of Fire State Park

    How cool is it that No. 3 on the list in all of America is here in Nevada? It’s in Overton, Nevada. “Hike among 46,000 acres of red sandstone formations, petroglyphs, and ancient trade routes for a desert experience like no other,” Travel Lemming says.

    Valley of Fire State Park | Valley of Fire Camping & Hikes

    The Valley of Fire State Park is not only the oldest and largest state park in Nevada, it is one of the most impressive. Explore Valley of Fire Hikes that offer incredible views of the red sandstone rock formations created when dinosaurs roamed, illuminating the valley and making it look like it's on fire.

  • Source: Travel Lemming

    For the full list of 150 of the best things to do in the United States this summer, go here.

    150 Best Things to Do in the USA This Summer (2023) - Travel Lemming

    Announcing the 150 best things to do in the USA this summer (2023). Unique attractions & hidden gems picked by our expert local guides ...

Anne Erickson's love for music drew her into radio. She started on the airwaves shortly after graduating from MSU. Anne has a passion for rock and metal, and she also fronts the band Upon Wings. Email Anne at erickson@WRIF.com, follow her on Instagram at @EricksonAnne and tweet at her @AnneErickson! Anne covers the Detroit, Philadelphia and Las Vegas markets and beyond.

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