In April, the Las Vegas guard-gated real estate market experienced a slowdown in activity.
Overall Trends
Closed sales dropped to 75, down 29% from 105 in March, while inventory rose 9% to 466 homes—a month-over-month increase of 39. This shift suggests a cooling in buyer activity, especially after how strong March was.
Year over year, the contrast is even more pronounced. April 2025 closed with 25% fewer sales than April 2024 (down from 100 to 75), despite a 54% increase in active inventory—from 303 homes last April to 466 this year. Fewer properties are going under contract as well, with an 18% drop compared to last April, showing that demand has softened considerably against a backdrop of rising supply.
Supply and Demand
Months of supply increased in half of our tracked price segments. While most of the price points either remain near balanced conditions or favor sellers, homes priced over $4M are still in buyer’s market territory. Reviewing data specific to your price range is the best way to understand current market conditions.
Discounts
In April, 28.2% of guard-gated home sales required a 5.1% to 10% discount—up from 21.2% in March and 22.3% in April 2024.
Sales Above List Price
Despite the shifting market, there were still 10 homes that closed above their last list price and 9 homes that closed above their original list price.
Days on Market
12.7% of the homes sold last month took over 90 days to sell from their last list price—up from 5.1% in March. These sales represent the longest times on the market once pricing was corrected. We’ve listed the homes below, along with some additional info:
- 4120 San Capri Way – After 91 days on market, this property sold with an 8.7% discount for $2,100,000.
- 32 Hassayampa Trail – After 58 days on market, this property went under contract the first time. It fell out of contract and was back on the market for 33 more days before selling with an 8.1% discount for $1,625,000.
- 14 Corral De Tierra Place – After 94 days on market, this property sold with a 14.3% discount for $3,000,000.
- 512 Overlook Rim Drive – After 95 days on market, this new build sold with a 15.3% increase over the last list price for $3,792,016.
- 1605 Shadow Rock Drive – After 132 days on market, this property sold with a 5.9% discount for $800,000.
- 1098 Spirit Rock Drive – After 175 days on market, this model home sold with a 7.5% discount for $7,400,000. The sale included a leaseback guaranteed for 12 months, with the potential to extend to 18 months.
- 62 Golf Estates Drive – After 90 days on market, this listing expired. When it was relaunched about 6 weeks later, the property sold in 95 days with a 1.7% discount for $5,700,000.
- 82 Hawk Ridge Drive – After 269 days on market, this property sold with a 3.3% discount for $5,800,000.
- 8905 Greensboro Lane – After 361 days on market, this listing expired. When it was relaunched 18 days later, the property sold in 16 days with a 7.4% discount for $3,980,000.
Cash vs. Financing
Our market analysis reveals that 55% of buyers paid cash in April, up from 47% in March.
April 2025 Sales
Here is a list of April’s guard-gated sales in Las Vegas, Henderson, and Summerlin. Scroll to the bottom to download a spreadsheet.
April 2025 Sales Data Download
You can download a detailed spreadsheet of the April sales data—including final sold prices, original list prices, price reductions, previous sales dates, percent appreciations, and more—by clicking here.
Please reference the following info to help you understand the spreadsheet:
When you encounter a negative number for the % Discount Off the Last List Price, this means the sales price was higher than the last list price.
DOM = Days on Market
REO = Real Estate Owned/Bank Foreclosure
Finally, 9 properties are missing data for the % Increase, Last Sold Price, and Last Sold Date because they had no prior sales as completed properties.
Any Questions?
If you have any particular questions or additional data that you’re curious about, we’re happy to help. Just give us a call at 702.605.7482 or leave a comment!
