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as Vegas home prices hit a new November 2025 peak, even as sales fell and inventory rose, per Las Vegas Realtors. The median price for existing single‑family homes climbed to $488,995, up 1.9% from a year earlier and eclipsing the $485,000 record set earlier in 2025. Condos and townhomes reached $303,750, a 0.8% increase, still below the October 2024 high of $315,000.
LVR President George Kypreos noted that, despite the record median, market dynamics are increasingly buyer‑friendly. “We’re selling fewer homes, inventory is higher, and mortgage rates dipped last week—factors that benefit prepared buyers,” he said.
Inventory surged ahead of the holidays. At November’s end, 7,033 single‑family homes were on the market without offers—a 26.3% rise from last year. Condo and townhome listings without offers jumped 40.8% to 2,613.
Sales continued to soften. In November, 1,918 existing homes, condos, and townhomes changed hands. Single‑family sales fell 6.6% YoY, while condo and townhome transactions dropped 20.2%. The slower pace equates to roughly a five‑month supply of homes, up from just over three months in the same period in 2024.
Las Vegas housing activity has fluctuated as mortgage rates shift. LVR logged 31,305 existing‑home and condo sales in 2024, up from 29,069 in 2023—the slowest year since the 2008 crash. That follows 35,584 transactions in 2022 and a record 50,010 in 2021.
Additional November metrics:
• Speed of sales: 70.9% of single‑family homes and 67.1% of condos/townhomes sold within 60 days, down from 79.3% and 77.9% a year earlier.
• Cash buyers: Cash deals made up 23% of all sales, down from 24.9% a year ago and far below the February 2013 peak of 59.5%.
• Distressed activity: Short sales and foreclosures were 0.5% of all transactions, versus 0.9% last year.
• Transaction value: Total sales volume reached $952 million for single‑family homes and $119 million for condos/townhomes. Year‑over‑year dollar volume fell 3.6% for homes and 22.1% for attached units.
Despite record pricing, LVR believes the shifting supply‑demand balance and recent mortgage‑rate easing could give buyers more leverage heading into 2026.
