Are Henderson and Las Vegas Home Values Rising or Falling in 2025?

If you’ve been reading housing headlines lately, you’ve probably seen some mixed messages. Some say prices are falling. Others say values are holding steady.

And honestly, both are true depending on where you’re looking.

A new Zillow report found that in half of the country’s major metros, home values rose over the past year, while in the other half, they fell. So, let’s unpack what’s happening nationally, and more importantly, what’s happening here in Henderson and Las Vegas.

National Market Trends

At the national level, prices barely moved. Values are up just 0.2% year-over-year.

• Gains: 25 major markets (mostly in the Midwest and Northeast), led by Cleveland (+4.7%) and Hartford (+4.5%).

• Declines: 25 markets, especially in the South and West, with Tampa (-6.2%), Austin (-6%), and Miami (-4.6%) seeing the steepest drops.

Other key stats:

• Price cuts: 27.4% of sellers reduced their asking price, the highest rate since tracking began in 2018.

• Days on market: The national median is now 60 days, the slowest July in over a decade.

• Affordability: Monthly mortgage costs are down about $19 compared to last year, but still nearly $1,000 higher than pre-pandemic.

So while some buyers have more leverage, affordability remains tight across the board.

What’s Happening in Henderson & Las Vegas

Here’s the local reality:

• Median home price: Roughly flat year-over-year. Henderson has been hovering around the mid-$500s, with Las Vegas closer to the low $400s. That stability is different from markets like Austin or Tampa, where values fell hard.

• Price cuts: We’re seeing more than we did a year ago, but not to the same extent as the national 27.4%. In the month of July and August we are seeing final sales prices at 97.5% of original list price.

• Days on market: Locally, homes are moving faster than the national 60-day median. As of this writing the past 30 days of sales in Henderson have a median of 29 days on market and city of Las Vegas having 25 days. If you look at the average instead of median it is 42 and 40 days respectively.

Translation: Henderson and Las Vegas are holding steadier than some other western metros. Homes that are priced right are still moving, but buyers have become more selective as they have more options to choose from. More negotaitions between buyers and sellers are happening compared to recent years.

What It Means for Buyers

Nationally, more homes are sitting longer and sellers are cutting prices. Here in Henderson and Las Vegas, it’s more nuanced.

• Price reductions: Yes, they’re happening, especially for homes that overshoot market value when the home is not updated. That creates opportunity if you’re a patient buyer or willing to do some updates on your own.

• Competition: Still present in in-demand neighborhoods with homes that are "turn-key ready", but it’s definitely not the frenzy of 2021.

• My advice: Don’t assume the national “prices are falling” headlines apply here. Get pre-approved and stay ready, because the good homes (well-priced and move-in ready) are still moving quickly. Also, not every seller is in a must-sell scenario. Many have been willing to wait for an offer that is at or near their original listing price.

What It Means for Sellers

If you’re selling in Henderson or Las Vegas, here’s the truth: buyers are data-driven. They’re watching days on market and price cuts closely. Work with an agent that has systems, processes, and tools you believe in to market your property at a high level. Then trust the incoming data and adjust if necessary.

• Overpriced homes linger: If you overshoot, you risk being one of the listings that sits 45–60+ days.

• Well-priced homes still sell: I’ve helped sellers accept great ofers in under 2 weeks this Summer, but only because we priced strategically, prepped the home properly, and had a stromg plan for marketing and reviewing data.

• Presentation matters: Professional photos, video, staging, and a strong online presence aren’t optional anymore. Most buyers’ first showing is online, and if the photos don’t impress, they move on.

The Bottom Line

The housing market in 2025 isn’t one-size-fits-all. Nationally, it’s split. Locally, Henderson and Las Vegas are showing signs of resilience compared to many western markets, but success depends on strategy. 

👉 For buyers: stay prepared and look for opportunities in price cuts.
👉 For sellers: price it right from day one and make sure your home shines online.

As Zillow’s senior economist Kara Ng put it: “Perhaps more than ever, whether it’s a good time to buy depends on where you live.” And here in Henderson and Las Vegas, the numbers show strategy matters more than ever in both home buying and home selling.