Las Vegas has more million-dollar homes for sale than ever before, but the rising inventory comes with a catch: Sellers are increasingly trimming asking prices to meet the market.
Listings priced at $1 million or more jumped 42% from last year—more than double the 20.3% national increase, according to the Realtor.com® July 2025 housing data.
Total new property count in Las Vegas rose 5% year over year in July, but that pace has cooled notably from earlier in the year. After a period of rapid inventory growth, the latest figures suggest builder and seller momentum is beginning to taper, mirroring a broader slowdown taking shape in the national market.
Luxury living in Vegas looks different
Luxury in Las Vegas doesn’t look like luxury in San Francisco or New York City. In coastal markets, a $1.2 million price tag might get you a compact two-bedroom condo. Here, that budget could buy a sprawling 5,000-square-foot home with the Strip views, an entertainer’s backyard, and custom finishes…