Las Vegas Market Stabilization: December 2025 Insights

As we step into 2026, it's a good time to look back at what 2025 revealed about the Las Vegas housing market. The latest Las Vegas REALTORS® December 2025 statistics paint an insightful picture of a city in transition. Sales are slowing, prices are cooling off slightly, but signs of stability are emerging.

If you’re thinking about buying, selling, or simply keeping a close eye on the Las Vegas market, understanding these trends is essential. Let’s explore what the data shows and what it means for buyers and sellers alike.

Market Overview: Sales and Prices in December 2025

The final month of the year marked a notable slowdown in both sales and median prices. In December, the median price of existing single-family homes sold in Southern Nevada was $470,000. That’s a slight dip of 1.1% from December 2024 and a decline of 3.9% from the all-time high of $488,995 set in November 2025.

Condos and townhomes saw similar trends, with a median sales price of $275,000 in December. That’s a 5.2% decrease from December 2024 and a drop from their record high of $315,000 in October 2024.

While these figures show a modest cooling, they also suggest a more balanced, buyer-friendly market heading into 2026. This is a key point for those who want to jump into the market or are considering listing their property.

The Bigger Picture: Fewer Home Sales and Increasing Listings

One of the most significant shifts was in the number of homes listed for sale without offers. As December closed, there were 6,396 single-family homes on the market with no offers. That’s up 28.8% from the previous year, indicating a larger supply available for buyers to choose from.

Condos and townhomes also saw an increase in available units, with 2,322 listings without offers—up 31.7% from December 2024. This rise in inventory provides buyers with more options and less urgency, which could pave the way for more negotiated deals and better values.

Despite the slowdown in sales—down 0.5% for homes and 1.5% for condos and townhomes compared to December 2024—the market remains active. A four-month housing supply at this time of year indicates healthy interest, especially considering the peak of a three-month supply a year earlier.

Market Activity and Buyer Behavior

December also showed some shifts in buyer activity. Approximately 69.2% of existing homes and 62.3% of condos and townhomes sold within 60 days. That’s a dip from 74.5% and 75.8% respectively, reflecting a slightly longer time on market.

Cash transactions accounted for 22.7% of all sales—a decrease from 26.2%. While cash buyers predominate in Las Vegas, this decline suggests more financing options are being tapped and a broader pool of buyers is in play.

Distressed sales—including foreclosures and short sales—remain a tiny part of the market at just 1.1%. This further indicates that the housing market, while cooling, remains stable with low levels of distress.

Insights from Local Experts and What to Expect in 2026

According to George Kypreos, President of Las Vegas REALTORS®, the overall tone for 2026 is optimistic. He points to stabilizing home prices, lower mortgage interest rates by the end of last year, and improving buyer activity as signs of a more balanced market.

Looking ahead, the trends suggest that buyers will find slightly more negotiating room, while sellers can still expect interest in their homes, especially from buyers who are patiently waiting for the right moment.

What Does this Mean for You?

For prospective buyers, this could be a golden opportunity to negotiate better terms or find that perfect home without fierce competition. Sellers should remain realistic about pricing, but also recognize that a well-presented home in a desirable neighborhood continues to attract interest.

If you’re considering making a move in the Las Vegas market or have questions about your specific situation, working with an experienced professional like me can make all the difference. As a Real Estate Broker And Probate Specialist, I have the local knowledge and market insights to guide you through these changes.

Stay Informed: Subscribe to Market Updates

Understanding the monthly trends is vital. The December 2025 statistics highlight a shifting landscape, and staying updated ensures you can time your buy or sell decision effectively. For the most current insights, contact me directly.

You can see a broader overview of the national trends and Las Vegas specific data by watching local expert analyses, like this recent video review of 2025 Las Vegas market statistics.

Connect With Your Local Expert

If you want more personalized advice or are ready to navigate this evolving market, feel free to reach out. I am always happy to help you explore your options in Las Vegas’s unique real estate landscape.

Contact Randy Milmeister

Phone: 702-239-8400
Email: [email protected]
Website: lasvegasrealtyandprobate.com

Let’s make your real estate goals a reality in 2026.