Market Updates · November 2025
Las Vegas Market Update: November 2025
By Matthew Gambill, Broker-Owner
This update covers Las Vegas data for November 2025. Report released .
Las Vegas had fewer homes for sale without offers in November 2025 than in October. Single-family inventory fell 6.7%, to 7,033, and condo and townhome inventory fell 1.8%, to 2,613 (Las Vegas REALTORS, November 2025). New listings fell for both: 2,185 single-family homes, down 29.0%, and 718 condos and townhomes, down 23.2%.
Sources: Las Vegas REALTORS, November 2025; Zillow Observed Rent Index.
Key Numbers
Figures for November 2025, compared with October 2025 and November 2024.
| Metric | November 2025 | October 2025 | November 2024 | Change from October | Change from a year earlier |
|---|---|---|---|---|---|
| Single-family median sales price | $488,995 | $474,370 | $480,000 | up 3.1% | up 1.9% |
| Single-family homes sold | 1,538 | 1,724 | 1,647 | down 10.8% | down 6.6% |
| Single-family new listings | 2,185 | 3,077 | 2,138 | down 29.0% | up 2.2% |
| Single-family homes for sale without offers | 7,033 | 7,538 | 5,570 | down 6.7% | up 26.3% |
| Single-family months of supply | 4.6 | 4.4 | 3.4 | up 4.6% | up 35.2% |
| Single-family homes sold within 30 days (share) | 47.4% | 50.4% | 57.9% | down 3.0 points | down 10.5 points |
| Condo and townhome median sales price | $303,750 | $285,000 | $301,250 | up 6.6% | up 0.8% |
| Condos and townhomes sold | 380 | 492 | 476 | down 22.8% | down 20.2% |
| Condo and townhome new listings | 718 | 935 | 729 | down 23.2% | down 1.5% |
| Condos and townhomes for sale without offers | 2,613 | 2,660 | 1,856 | down 1.8% | up 40.8% |
| Condo and townhome months of supply | 6.9 | 5.4 | 3.9 | up 27.2% | up 76.4% |
| Condos and townhomes sold within 30 days (share) | 43.2% | 42.7% | 52.9% | up 0.5 points | down 9.7 points |
| Zillow Observed Rent Index (asking rent) | $1,721 | $1,721 | $1,714 | no change | up 0.4% |
Sources: Las Vegas REALTORS, November 2025 (home sales rows); Zillow Observed Rent Index (rent row).
Prices Rose From October
The single-family median sales price was $488,995, up 3.1% from October's $474,370 and up 1.9% from a year earlier (Las Vegas REALTORS, November 2025). The condo and townhome median rose 6.6%, to $303,750, and was up 0.8% from November 2024.
Fewer Closings
Single-family closings fell 10.8% from October, to 1,538, and were down 6.6% from a year earlier. Condo and townhome closings fell 22.8%, to 380 (Las Vegas REALTORS, November 2025). Of the single-family homes that closed, 47.4% sold within 30 days, down 3.0 points from October and down 10.5 points from November 2024's 57.9%.
Months of Supply Rose
Single-family months of supply rose to 4.6 from 4.4 in October, and condo and townhome months of supply rose to 6.9 from 5.4 (Las Vegas REALTORS, November 2025). Compared with a year earlier, single-family months of supply was up 35.2% and the condo and townhome figure was up 76.4%.
Asking Rents in November
The Zillow Observed Rent Index for the Las Vegas metro was $1,721, unchanged from October and up 0.4% from a year earlier. It measures asking rents across all rental types.
Numbers for a Rent or Sell Decision
Owners weighing a sale against a lease had a $488,995 single-family median and 4.6 single-family months of supply to go on, with asking rents up 0.4% on the year. These are market-wide figures, so a single home can lease or sell for more or less.
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Frequently Asked Questions
What was the median home price in Las Vegas in November 2025?
It was $488,995 for single-family homes, up 1.9% from a year earlier, according to Las Vegas REALTORS, November 2025. The condo and townhome median was $303,750.
How many homes sold in Las Vegas in November 2025?
According to Las Vegas REALTORS, November 2025, 1,538 single-family homes and 380 condos and townhomes closed.
What was the median rent in Las Vegas in November 2025?
The Zillow Observed Rent Index for the metro was $1,721, up 0.4% from a year earlier.
How many months of supply did Las Vegas have in November 2025?
Single-family homes had 4.6 months of supply and condos and townhomes had 6.9, according to Las Vegas REALTORS, November 2025.
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, November 2025: home prices, sales, listings, inventory and months of supply
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 November 1, 2025 through November 30, 2025.
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