Want a brand new home in Las Vegas? It’ll cost you nearly $80K more

The typical price for a new home in the Las Vegas Valley is approximately $79,000 more expensive than buying an existing home, which is above the national average, according to a new study.

A new report from Clever Real Estate has the median home price for an existing house in the valley at approximately $425,000, and the median price for a new home at $504,460, a $79,460 price gap. New home sales in the valley make up 18 percent of the market share, compared to 15 percent nationally.

The median home price in the country sits at approximately $357,000 and the accompanying price for a new house sits at $409,565, a $52,565 gap, according to the study.

Las Vegas ranks 45th in the nation in overall price gap between new homes and existing residential units, the Clever Real Estate study said.

The study said new homes are increasing becoming more expensive, which is adding to a housing crisis across the nation regarding pricing and market availability, especially for first-time buyers.

“New construction homes have historically been more expensive, with a peak difference of $151,018 in December 2022, at the tail end of the pandemic housing boom when mortgage interest rates were at historic lows,” reads the study.

Las Vegas finds itself in the middle of a housing crisis as home prices sit close to record highs. The median sale price of a house in the valley has essentially doubled since the start of the pandemic and wage growth has not kept up in virtually all sectors. A slowdown in housing and apartment complex development has also put pressure on home prices and rental rates.

The study noted the past few years, new homes have become more expensive, however that has slowed lately.

“In the past five years, the median sale price of new homes has outpaced the increase for all homes, 21.6 percent vs. 13.3 percent,” reads the study. “Prices for new construction, however, have decreased slightly over the past year while overall home prices have continued to rise (-3.9 percent versus 2 percent).”

New homes comprise a relatively small part of the U.S. housing market at approximately 15 percent which is down from 20 percent back in 2023.

Zillow reported 571,213 new construction home sales in 2025 out of more than approximately 3.7 million home sales overall.