Las Vegas real estate 2024: the year in review
A $35 million record at the top, a fire-damaged fixer at the bottom, and roughly 1,300 million-dollar closings in between. Here are the numbers that shaped 2024 — and how they compare against the year that followed.
What happened to prices
| Metric | 2023 | 2024 | Change |
|---|---|---|---|
| Median sale price | $439,000 | $473,000 | ▲ ~7.8% |
| Average sale price | $550,000 | $595,000 | ▲ ~8% |
| Homes sold | 20,734 | ~21,755 | ▲ ~4.9% |
| Median days on market | 21 | 18 | ▲ 3 days faster |
Prices up, volume up, and homes selling faster — all while mortgage rates rose from a 6.42% average in 2023 to 6.85% in 2024. That combination is what made the year unusual, and it is covered in full in the 2024 versus 2023 report.
The top and bottom of the market
The Summit Club sale set the valley's high-water mark for the year. At the other end, a fire-damaged property on the east side changed hands for a figure that would not cover the closing costs on most transactions.
And the time extremes
One listing took 757 days to sell. Meanwhile a number of homes sold on the day they were listed.
Same market, same year: two years on the market at one end, zero days at the other. Correct pricing is almost always the variable, not the market.
The million-dollar question
Sales above a million rose from over 1,000 in 2023 to around 1,300 in 2024 — roughly a 30% increase, far outpacing the 7.8% rise in the median.
Which raises a fair question: is the high-end market genuinely thriving, or is this just what happens when everything gets more expensive?
Both readings have something to them. When the median rises 7.8%, homes that were $950,000 become million-dollar homes without anything changing about them. Some of that 1,300 is price inflation crossing a round number rather than new demand at the top.
That said, the $35 million sale is not explained by inflation. Genuine high-end activity was there too.
Who sold the most
| Rank | Top-selling neighborhoods | Top new home builders |
|---|---|---|
| 1 | Summerlin | Lennar |
| 2 | Henderson | D.R. Horton |
| 3 | Southern Highlands | Pulte |
All three neighborhoods are established master-planned communities, and all three sat at the higher end of the valley's price range that year. Guides: Summerlin, Henderson, and Southern Highlands within Enterprise.
On the builder side, all three are national operations — which matters because scale is what funds the rate buydowns and incentive packages that have driven new-home sales since rates rose. See buying new construction.
The Texas exchange
| Rank | Moved to Las Vegas from | Left Las Vegas for |
|---|---|---|
| 1 | California | Texas |
| 2 | Arizona | Florida |
| 3 | Texas | Washington |
California leading the inbound list is no surprise — no state income tax and roughly half the housing cost explains most of it. See why California homeowners are moving to Las Vegas.
Texas appears on both lists. People are leaving Texas for Las Vegas and leaving Las Vegas for Texas at the same time — a genuine two-way exchange.
That is less strange than it looks. Both are no-income-tax states, so the deciding factors become carrying costs and job location. Texas property taxes and insurance run considerably higher than Nevada's, which is exactly the comparison worked through in six markets compared.
How 2024 compares with 2025
| 2024 | 2025 | |
|---|---|---|
| Highest sale | $35,000,000 | $25,250,000 |
| Lowest sale | $10,500 | $32,000 |
| Longest on market | 757 days | 754 days |
| Median days on market | 18 | Rose through the year |
| Median sale price | $473,000 | Peaked ~$485,000, eased to ~$483,000 |
The two longest listings of each year came in three days apart — 757 and 754. A coincidence, but a telling one: in any market there is always a house that takes two years to sell.
The more meaningful contrast is direction. 2024 was a year of rising prices, rising volume and shortening timelines despite rising rates. 2025 reversed all three. Full detail in the 2025 year in extremes.
2024 market FAQ
What was the most expensive home sold in Las Vegas in 2024?
A $35 million estate in The Summit Club in Summerlin. That made 2024 the stronger year at the very top of the market — the highest sale of 2025 was $25.25 million, in MacDonald Highlands.
What was the median home price in Las Vegas in 2024?
$473,000, up from $439,000 in 2023 — an increase of about 7.8%. The average sale price rose further, up roughly 8% from $550,000 to $595,000, reflecting strength at the upper end of the market.
How many million-dollar homes sold in Las Vegas in 2024?
Around 1,300, up from over 1,000 in 2023 — roughly a 30% increase. Whether that reflects genuine strength at the high end or simply the effect of everything getting more expensive is an open question, since rising prices push ordinary homes across the million-dollar line.
Which Las Vegas neighborhoods sold the most homes in 2024?
Summerlin first, then Henderson, then Southern Highlands. All three are established master-planned areas, and all three were among the higher price points in the valley that year.
Who were the top home builders in Las Vegas in 2024?
Lennar led, followed by D.R. Horton and then Pulte. All three are national builders with the scale to fund the rate buydowns and incentive packages that have driven new-home sales in recent years.
Where do people move to Las Vegas from?
In 2024 the top three origin states were California, Arizona and Texas. The most common destinations for people leaving Las Vegas were Texas, Florida and Washington — so Texas appeared on both lists, sending and receiving residents at the same time.
How long did homes take to sell in Las Vegas in 2024?
The range was extreme. The longest single listing took 757 days, while a number of properties sold on the day they were listed. The valley median for the year was 18 days, down from 21 in 2023.
Planning your own year?
Whether it is a first investment property, diversifying into multifamily, or working out whether to buy or sell at all — everyone's starting point is different. Worth building a plan around yours rather than around the market's averages.
Related: the 2025 year in extremes, 2024 vs 2023 in full, twenty years of the Las Vegas market, and the monthly market hub.
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Jim Fong · NV license BS.0068736 · The Jim Fong Group at Real Broker · 702-997-2050
Figures are drawn from MLS data as reported at publication and may be restated in later pulls. Off-market transactions are not included. Market data is provided for general information, not as an appraisal or a guarantee of value.