What Happened in Las Vegas Real Estate in August?

The Market is Changing Constantly, Stay Aware

After edging close to an all-time high earlier this year, Las Vegas home prices pulled back in August, according to the latest report from Las Vegas Realtors (LVR). The median price for a single-family home in the area fell to $476,875, marking a retreat after months of price increases. Condominiums and townhomes experienced a similar dip, with their median price ending the month at $292,000, which is $4,000 lower than July’s record.

LVR President Merri Perry noted that, despite the price reductions, the overall trend for home prices this year has been upward, both locally and across the nation. “We’re hoping homes will soon become at least somewhat more affordable for buyers – assuming interest rates start to decline this fall as national experts are expecting,” Perry said.


Mortgage Rates: Not Much Change on the Horizon

While some are optimistic about interest rates easing, online real estate broker Redfin cautioned that mortgage rates might not drop significantly in the near future. Markets have already factored in potential rate cuts by the Federal Reserve, expected to begin in September and continue through 2025. Currently, the average mortgage rate in Nevada sits at 6.73% for a 30-year loan, according to Bankrate.


The Political Factor in Housing Affordability

As the 2024 election approaches, promises to address housing affordability are common. However, any substantial changes will likely depend on Congressional action to allocate funds. The election results could either advance or derail these initiatives.


LVR’s August Housing Market Report: Key Highlights

LVR’s monthly report, which only covers sales through its Multiple Listing Service (MLS) and excludes new home sales or owner-listed properties, offers more insights into the Las Vegas housing market:

  • 24.1% of all property sales were cash sales, a drop from 26.0% a year ago, and far below the August 2013 peak of 59.5%.
  • 5,268 single-family homes were listed without offers by the end of August, a 35.7% increase from the same time last year.
  • 1,640 condos and townhomes were listed without offers, up a significant 67.7% from a year ago.
  • 2,711 homes, condos, and townhomes were sold in August. Sales of single-family homes increased by 6.4% year-over-year, but sales of condos and townhomes fell by 10.5%.
  • The housing supply reached 2½ months at the end of August, compared to less than two months of supply a year earlier.
  • 0.6% of August sales were short sales or foreclosures, a slight drop from 1.6% last year.


Speed of Sales

In August, 86.5% of single-family homes and 82.9% of condos and townhomes sold within 60 days, a slight improvement from last year’s numbers for homes, but a drop for condos and townhomes.



The Las Vegas housing market continues to evolve as home prices fluctuate and mortgage rates stabilize at higher-than-usual levels. Buyers and sellers alike will need to keep a close watch on economic and political developments in the months ahead.

Dive-In Movies at The Cosmopolitan of Las Vegas: Summer 2025

June 9, 2025
This summer, The Cosmopolitan of Las Vegas invites guests to its iconic Boulevard Pool for the return of Dive-In Movies, a unique poolside cinema experience. Every Monday evening from May 19 to September 1, guests can enjoy a selection of blockbuster hits and timeless classics projected on a 65-foot digital marquee, all while lounging poolside or taking a dip in the pool. Event Details: • Dates: Mondays, May 19 – September 1, 2025 • Doors Open: 6:15 PM • Movie Starts: 8:00 PM • Location: Boulevard Pool, Level 3, accessible via the Boulevard Tower escalators • Admission: $15 for non-hotel guests; $10 for Las Vegas locals with valid ID; complimentary for hotel guests, Identity Membership & Rewards members, first responders, and military personnel with valid ID; children aged 5 and under are free. Upcoming Movie Lineup: • June 9: Harry Potter & The Sorcerer’s Stone • June 16: Wicked • June 23: The Goonies • June 30: Top Gun • July 4th: Top Gun: Maverick • July 7: Despicable Me • July 14: Inside Out 2 • July 21: Happy Gilmore • July 28: Elf • August 4: Lilo & Stitch • August 11: Twilight • August 18: Mean Girls • August 25: Legally Blonde • September 1: Good Burger  For those seeking a more luxurious experience, cabana and daybed reservations are available, which include a food and beverage minimum and complimentary admission to Dive-In Movies. Reservations can be made by calling 702.698.6797. Whether you're a hotel guest or a local resident, Dive-In Movies at The Cosmopolitan offer a memorable way to enjoy a night out under the stars with the Las Vegas Strip as your backdrop. The above info is subject to change, stay up to date on The Cosmopolitans website. https://cosmopolitanlasvegas.mgmresorts.com/en/entertainment/dive-in-movies.html

Wagging Tails Rescue: Giving Hope to Homeless Dogs in Las Vegas

June 4, 2025
Nestled in the heart of Las Vegas, Wagging Tails Rescue is a dedicated 501(c)(3) nonprofit organization committed to saving homeless and abandoned dogs from high-kill shelters and owner surrenders. Unlike traditional shelters, Wagging Tails Rescue operates through a network of loving volunteers and foster homes, providing temporary safe havens for dogs — especially pregnant moms and orphaned puppies — until they find their forever families. With no physical facility, the rescue’s strength lies in its community of passionate foster caregivers who nurture these pups with love, care, and attention. Beyond rescuing dogs, Wagging Tails Rescue champions responsible pet ownership through education on spay/neuter, positive behavior training, and proper nutrition. Want to meet some of these adorable dogs and maybe even adopt? Keep an eye on their Instagram @waggingtailsrescuelv for updates on frequent adoption events. From fun puppy yoga sessions to gatherings at Petco and even “Puppies and Pints” at Lovelady Brewery, there are plenty of opportunities to support and connect with this amazing rescue. Every wagging tail tells a story — and at Wagging Tails Rescue, those stories always end with hope and a happy home.

Las Vegas Parking Guide

May 27, 2025
If you’re a first-time visitor to Las Vegas, the idea of paying for parking might not be as big of a deal as it is to those of us who’ve been around for a while. Just a few years ago, it was practically unheard of to pay for parking on The Strip. Free parking was a standard expectation for both locals and casino guests alike. But times have changed, and many of the big casinos along the iconic Las Vegas Strip have started charging for parking. While we’ll let you draw your own conclusions about whether or not parking fees are justified (locals, we feel your pain), we’re here to guide you on where to park on the Las Vegas Strip. So, buckle up, and check out our list to see where you can park for free as a local! First three hours of self-parking are free for locals: • The Aria • The Bellagio • Caesar’s Palace • The Cosmopolitan • The Cromwell • The Excalibur • The Flamingo • The LINQ • Luxor • The MGM & Park MGM • Planet Hollywood • Wynn & the Encore Free Parking across the board • Rio • The Palms As a final tip when it comes to visiting the strip: Check and see if the casino does any sort of parking validation. A lot of times they will give you free parking if you spend a certain amount of money inside, are a guest (on a staycation) or are a certain tier level among their rewards programs. Remember, it never hurts to ask. If you're visiting Las Vegas, be sure to check with your hotel about whether parking and valet services are included when you book your room. It's a cost worth factoring into your trip planning!
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