Las Vegas ended 2025 with declines in home sales and prices. According to FOX5 Las Vegas, Las Vegas REALTORS reported that the median single-family home price fell 1.1% from the previous year to $470,000 in December. The median price of condos and townhomes dropped 5.2% to $275,000.
The annual sales figure for 2025 was the lowest since 2007, with 28,498 homes, condos, and townhomes sold, down from 31,305 in 2024. George Kypreos, president of Las Vegas REALTORS, told News 3 Las Vegas, “Although it was a relatively slow year for home sales, we're seeing some encouraging signs heading into the new year.” He cited improved buyer activity and stable home prices as positive indicators.
Inventory increased, with single-family homes without offers rising nearly 29% to 6,396 in December 2025. Condo and townhome listings also rose about 32% to 2,322, Las Vegas REALTORS reported.
Despite declining sales, Kypreos said local and national buyer activity points to a more balanced housing market in 2026. Mortgage rates ended the year lower than in 2024, supporting optimism. “Most trends are pointing to a more balanced housing market in 2026,” Kypreos told FOX5 Las Vegas. In December, the share of homes sold within 60 days fell from over 74% to just over 69%, while condos dropped from 75% to 62%.
Cash transactions fell to 22.7% of property sales in December, down from 26.2% a year earlier and well below the 2013 peak. The total value of December real estate transactions was about $1.1 billion for homes and nearly $153 million for condos and townhomes.
