Blog > Las Vegas Housing Market Update – December 2025

Las Vegas Housing Market Update – December 2025

by Team Farnham

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What Buyers & Sellers Need to Know Right Now

The latest market data from Las Vegas REALTORS® just dropped, and it’s giving us a much clearer picture of how the year is closing out. Whether you’re a homeowner in Inspirada, a condo owner near the Strip, or a buyer trying to time your move, November’s trends highlight one big theme:

Inventory is climbing—and it’s reshaping the market.
Below is a simple, data-backed breakdown of what’s happening across both single-family homes and condos/townhomes, and what it means for you heading into the new year.

Single-Family Homes: More Choices, Steady Prices

Even with the expected seasonal slowdown, the single-family market stayed surprisingly stable in November.


Key Numbers

  • Median Price: $488,995 (up 3.1% from last month)

  • Sales: 1,538 closings (down 6.6% year-over-year)

  • Inventory: 7,033 homes available (up 26.3% year-over-year)

  • Months of Supply: 4.6 months

  • Days on Market: 32 days (homes are taking slightly longer to move)


What It Means

Inventory has been trending upward for months, and November continued that pattern. Buyers have more breathing room, more properties to compare, and more negotiating power than they’ve had in recent years.

Sellers can still succeed—but pricing strategy matters more than ever. The homes that sell fastest are the ones priced right in week one, with strong presentation and marketing.


Condos & Townhomes: A Strong Shift Toward Buyers

This segment of the market is experiencing even bigger changes.


Key Numbers

  • Median Price: $303,750 (up from last month)

  • Sales: 380 closings (down 20.2% year-over-year)

  • Inventory: 2,613 units available (up 40.8% year-over-year)

  • Months of Supply: 6.9 months

  • Days on Market: Only 43% sold within 30 days (a decline from last year)

What It Means

Condos and townhomes are firmly leaning toward a buyer-friendly market. Higher inventory and slower pace give buyers more selection and more leverage.

For sellers in this segment, competitive pricing and strong marketing aren’t just helpful—they’re essential.


What Buyers Should Know Right Now

  • You finally have options—especially under $600K and in the condo/townhome market.

  • You can take your time, compare homes, and negotiate.

  • Interest rates still impact affordability, but the pressure cooker environment of past years has cooled significantly.


What Sellers Should Keep in Mind

  • Your home can still sell for a strong price, but buyers expect value.

  • Pricing too high out of the gate leads to longer days on market and fewer offers.

  • Presentation matters: clean, staged, and well-marketed homes continue to lead the pack.


Final Takeaway: A More Balanced Market Ahead

As inventory rises and demand stabilizes, Las Vegas is shifting toward a healthier, more predictable market. Buyers gain options. Sellers who price strategically still do well. And as we move into the new year, this balance is expected to continue.

If you’re thinking about buying or selling—or just want a personalized breakdown for your neighborhood—we’re here and happy to help.

Team Farnham – Loving Las Vegas Through Real Estate.

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