Market Updates · December 2025
Las Vegas Market Update: December 2025
By Matthew Gambill, Broker-Owner
This update covers Las Vegas data for December 2025. Report released .
Cash buyers made up a smaller share of Las Vegas sales in December 2025. Las Vegas REALTORS reported that 22.7% of all local property sales were cash transactions, down from 26.2% a year earlier (Las Vegas REALTORS, December 2025). The single-family median sales price was $470,000, down 1.1% from December 2024, and the condo and townhome median was $275,000, down 5.2%.
Sources: Las Vegas REALTORS, December 2025, news release of January 6, 2026; Zillow Observed Rent Index.
Key Numbers
Figures for December 2025 as printed in the Las Vegas REALTORS news release of January 6, 2026, compared with December 2024.
| Metric | December 2025 | Compared with December 2024 |
|---|---|---|
| Single-family median sales price | $470,000 | down 1.1% |
| Single-family homes for sale without offers | 6,396 | up 28.8% |
| Single-family homes sold within 60 days (share) | 69.2% | 74.5% in December 2024 |
| Condo and townhome median sales price | $275,000 | down 5.2% |
| Condos and townhomes for sale without offers | 2,322 | up 31.7% |
| Condos and townhomes sold within 60 days (share) | 62.3% | 75.8% in December 2024 |
| Homes, condos and townhomes sold (combined) | 2,261 | single-family down 0.5%; condos and townhomes down 1.5% |
| Cash sales (share of all sales) | 22.7% | 26.2% in December 2024 |
| Short sales and foreclosures (share of all sales) | 1.1% | 0.6% in December 2024 |
| Zillow Observed Rent Index (asking rent) | $1,720 | up 0.3% |
Sources: Las Vegas REALTORS, December 2025, [news release of January 6, 2026](https://nevadabusiness.com/2026/01/lvr-reports-2025-ends-with-dip-in-home-prices-and-sales/) (home sales rows); Zillow Observed Rent Index (rent row).
Prices Below December 2024
The single-family median was also down 3.9% from November (Las Vegas REALTORS, December 2025). The release says the condo and townhome median was lower than in November as well.
More Homes for Sale Than a Year Earlier
6,396 single-family homes were listed for sale without an offer, up 28.8% from a year earlier. The condo and townhome count was 2,322, up 31.7% (Las Vegas REALTORS, December 2025).
Sales in December and for 2025
Las Vegas REALTORS reported 2,261 existing homes, condos and townhomes sold in December. Compared with December 2024, sales were down 0.5% for single-family homes and down 1.5% for condos and townhomes (Las Vegas REALTORS, December 2025).
In December, 69.2% of single-family homes and 62.3% of condos and townhomes sold within 60 days, compared with 74.5% and 75.8% a year earlier.
For the full year, Las Vegas REALTORS reported 28,498 existing homes, condos and townhomes sold in 2025, compared with 31,305 in 2024, and said that was the lowest annual total since 2007.
Asking Rents in December
The Zillow Observed Rent Index for the Las Vegas metro was $1,720, down 0.1% from November and up 0.3% from December 2024.
Working With TPMF
We're a broker-owned, Nevada-licensed brokerage, and we primarily manage long-term residential rentals in Las Vegas, North Las Vegas and Henderson. We screen residents, handle the day-to-day work and check with you before larger repairs and before renewal terms are set. Professional photographers we hire take all of our marketing photos. Get a Free Rental Analysis, and we'll reply within one business day.
Frequently Asked Questions
What was the median home price in Las Vegas in December 2025?
It was $470,000 for single-family homes, down 1.1% from a year earlier, according to Las Vegas REALTORS, December 2025. The condo and townhome median was $275,000.
How many homes sold in Las Vegas in December 2025?
According to Las Vegas REALTORS, December 2025, 2,261 existing homes, condos and townhomes sold in December.
What was the median rent in Las Vegas in December 2025?
The Zillow Observed Rent Index for the metro was $1,720, up 0.3% from a year earlier.
Do these numbers apply to my neighborhood?
Not directly. They're market-wide figures, and results for a single home can differ by neighborhood and by the home itself.
Sources
Las Vegas REALTORS news release, January 6, 2026: December 2025 home prices, sales, homes for sale without offers, the share sold within 60 days, and cash and distressed sales
Zillow Observed Rent Index (ZORI), Las Vegas metro, smoothed and seasonally adjusted: asking rents
Related Reading
About the Author
Matthew Gambill is a Broker-Owner of The Property Management Firm, a Nevada-licensed brokerage that primarily manages long-term residential rentals in Las Vegas, North Las Vegas and Henderson. Meet the brokers.
This is general market information, not financial or legal advice. Market-wide figures can be revised and won't match every home, so talk with a licensed professional about your own situation.
Based on information from the Greater Las Vegas Association of REALTORS® Multiple Listing Service for the period December 1, 2025 through December 31, 2025.
Talk Through Your Home
We reply within one business day.