NORTH LAS VEGAS (KTNV) — The housing landscape in North Las Vegas is showing signs of relief for prospective buyers, particularly in the condo and townhome sector. After a year marked by all-time high property prices, some recent statistics are offering hope for those looking to enter the market.
Kimberly Nickerson and her partner, Thomas Pipitone, are among the lucky ones. They just moved into their new condo, and during a recent visit, they enthusiastically shared their experience and satisfaction with their purchase.
The couple’s new home is a spacious 3-bedroom, 2-bath condo that boasts over 1,400 square feet, complete with a balcony, driveway, and situated in a gated community. They purchased the property for an attractive price of $320,000, including numerous upgrades.
Pipitone expressed his delight with the condo, noting the enhancements such as new kitchen tiles, appliances, cabinetry, and even a remodeled shower. Nickerson was equally surprised by the price and the space available, commenting on how the condo feels akin to a house without the stress of yard maintenance.
This year, the latest figures from the Las Vegas Association of Realtors (LVR) indicate that the average price for a condo or townhome in the valley has dropped to $290,000 as of July 2025. This figure ties with the lowest price recorded since April 2024.
Tracking the trend, here are the monthly averages for condo and townhome prices in the area over the past year:
– April 2024: $290,000
– May 2024: $294,400
– June 2024: $295,000
– July 2024: $296,000
– August 2024: $292,000
– September 2024: $299,500
– October 2024: $315,000 (all-time record high)
– November 2024: $301,250
– December 2024: $290,000
– January 2025: $293,000
– February 2025: $303,000
– March 2025: $306,495
– April 2025: $302,700
– May 2025: $307,000
– June 2025: $305,000
– July 2025: $290,000
The reduction marks a 2% decline in prices from July 2024, and the data shows a significant difference in pricing since last year, where December and April 2024 were the only months to match the current low.
Nickerson and Pipitone watched the market for about five months before making their move. Having previously owned homes but facing rising rental costs, Nickerson felt overwhelmed by the prospect of homeownership with prices soaring up to $485,000 earlier this year.
When asked about the possibility of becoming homeowners again amid such high prices, Nickerson admitted she had lost hope. However, she has since changed her perspective after being encouraged by Pipitone to consider a condo.
Applied Analysis Principal Brian Gordon has noted similar observations regarding the housing market, stating, “There’s no question the housing market is moderating, we’re seeing supply and demand adjust a little bit.” He emphasizes that this is a prime opportunity for homebuyers to take advantage of the current pricing, deeming $290,000 a unit as an appealing value.
Despite the encouraging news, Gordon cautioned against assuming that these lowered prices would remain, advising potential buyers to act swiftly.
As for Nickerson, her contentment with their new home reflects the optimism that some buyers are experiencing at this moment in the North Las Vegas housing market. While the recent price trends may provide some hope, the future direction remains uncertain, and experts are keeping a close watch on how the landscape will evolve.
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