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December 7, 2025Las Vegas Homes Prices Just EXPLODED! December 2025
Las Vegas Homes Prices Just EXPLODED! December 2025
Welcome to the December 2025 issue of our monthly market update for Southern Nevada. In this issue we will be going over November 2025 numbers.
🏡 Median home prices unexpectedly jumped by $14,625 to a new all-time high of $488,995!
This surge came despite:
- Fewer home sales
- Fewer new listings
- Fewer homes sitting without offers
That’s NOT what we typically expect this time of year… and yet, here we are.
✅ Good news for buyers: Even with higher prices, this is STILL a buyer’s market!
Sellers are offering:
- Major price reductions
- Closing cost credits
- Aggressive concessions
We’ll explain exactly what this means for buyers and sellers, where the market may be heading next, and whether Las Vegas home prices will ever truly cool off.
🎯 Plus in this live stream:
- Who won last month’s market bets
- A full breakdown of December 2025 builder incentives
- Why this is the LAST month to score massive year-end deals on move-in-ready new construction
Builders are racing to hit their year-end sales goals—and buyers can win BIG right now.
👉 If you’ve been thinking about buying a new construction home in Las Vegas, this is your final window to take advantage of these incredible deals.
MARKET TRENDS
There were 1,538 single-family houses that sold in November which is down 10.8% from October and down 6.6% from prior year.
November 2025 – 1,538 Closings
November 2024 – 1,647 Closings
November 2023 – 1,435 Closings
November 2022 – 1,521 Closings
November 2021 – 3,273 Closings
November 2020 – 3,035 Closings
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The median sales price of previously owned single-family homes, went from $474,370 to $488,995, which is up 3.1% from the prior month and up 1.9% from the prior year. This is the highest median price ever in Las Vegas, we hit our all-time high in January this year at $485,000, and now we have surpassed it by $3,995. (Slide #1)
In November 2025, the median price of previously owned single-family homes was at $488,995.
In November 2024, the median price of previously owned single-family homes was at $480,000.
In November 2023, the median price of previously owned single-family homes was at $450,000.
In November 2022, the median price of previously owned single-family homes was at $430,990.
In November 2021, the median price of previously owned single-family homes was at $420,000.
In November 2020, the median price of previously owned single-family homes was at $345,000.
CONDOS
The median sales price of condos and townhomes for November went from $285,000Â to $303,750 which a $18,750 increase and is up 6.6% from October and up .8%Â from the prior year.
In November 2025, the median price of condos and townhomes was at $303,750.
In November 2024, the median price of condos and townhomes was at $301,250.
In November 2023, the median price of condos and townhomes was at $275,000.
In November 2022, the median price of condos and townhomes was at $260,000.
In November 2021, the median price of condos and townhomes was at $240,000.
In November 2020, the median price of condos and townhomes was at $199,700.
LUXURY MARKET
There were 125 luxury homes that sold in November for $1 million and over, compared to October’s 135 homes, 10 home decrease.
The median sales price in the Luxury Market for November increased to $1,350,950 and in October that number was $1,350,000. A $950 increase in the median sales price.
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MARKET TRENDS
So, for November we had a total of 2,185 new listings, which is down 29% from the prior month, but up 2.2% from the prior year.
November 2025 – 2,185 new listings
November 2024 – 2,138 new listings
November 2023 – 1,969 new listings
November 2022 – 2,096 new listings
November 2021 – 2,851 new listings
November 2020 – 2,766 new listings
There were also a total number of 7,033 single-family houses listed without offers in November, which is down 6.7% from the previous month, but up 26.3% from the prior year.
November 2025 – 7,033 listed without offers
November 2024 – 5,570 listed without offers
November 2023 – 4,3533 listed without offers
November 2022 – 7,342 listed without offers
November 2021 – 2,805 listed without offers
November 2020 – 3,756 listed without offers
MARKET TRENDS
Which brings us to the housing supply in Southern Nevada, last month we are at 4.6 months of inventory on the market, which is up 4.6% from previous month and up 35.2% from the prior year.
November 2025 – 4.6 months of supply
November 2024 – 3.4 months of supply
November 2023 – 3.0 months of supply
November 2022 – 4.8 months of supply
November 2021 – .9 months of supply
November 2020 – 1.2 months of supply
47.4% of the closings for the month November was on the market 30 days or less, in October this number was at 50.4% and in November 2024, 57.9% of the homes were on the market 30 days or less.
NEW BUILDER INCENTIVES – December 2025
Century Communities is having their LAST CALL FOR 2025 SALES Event. Unbelievable savings on select homes when financing with Century Communities affiliate lender, Inspire Home Loans on select move-in ready homes across the Las Vegas Valley.
Century Communities has 3 different offers to choose from:
- 30 Year Fixed-Rate Loan FHA & VA Loans at 3.875% fixed interest rate or Conventional at 4.875%.
- 30-Year 5/1 Arm FHA or VA Loan, get 3.75% interest rate for years 1-5, and an adjustable-rate mortgage years 6-30. Plus get up to $3,000 toward closing costs.
- 30-Year 7/6 Arm Conventional Loan and get 3.875% interest rate for years 1-7, and an adjustable-rate mortgage for years 8-30.
Rates are available only on the purchase of select Century Communities homes that sign a contract on or before 12/17/2025 and that close on or before 12/31/2025.
Lennar Homes is having their YEAR END SAVINGS EVENT. Take Advantage of a Promotional Conventional FHA  or VA Loan Program with a Temporary Buy down. Get 3.99% interest rate for the first year of and then 4.99% interest rate from years 2-30. Plus get up to $6,000 towards closing costs. Must use
Offers available when you sign a purchase agreement on a select move-in ready home in the greater Las Vegas area between now and 12/14/25 and close by 01/23/25. Offers require financing through Lennar Mortgage, LLC.
Last week they had Cyber Week deals and the interest rate was 1.99% interest rate year 1, 2.99% year 2 and 3.88% interest rate years 3-7.
Richmond American is having their FINISH LINE SAVINGS Event on their Move-In ready Home, where you can pick your savings in the Las Vegas Area and finance through Home American Mortgage Corp.
- Take advantage of special financing + up to $25K in Flex Funds on quick move-in homes OR opt for just the Flex Funds and get up to $75K toward homes that can close in a timely manner.
Use Flex Funds for:
- Closing cost assistance
- Permanent interest rate buydown
- Discount on purchase price (up to 2% of home price)
- 2 to 1 Buy Down offer on special 30-year fixed Conventional Financing. Get 2.99% interest rate for the first year, 3.99% interest rate for year 2, and 4.99% interest rate for years 3-30.
- FHA 5/1 Adjustable Arm Rate Mortgage – Get 3.75% interest rate for 5 years with a max of 8.75% interest rate at year 6.
- Conventional 7/6 Adjustable Arm Rate Mortgage – Get 3.99% interest rate for 7 years with a max of 8.75% interest rate at year 8.
Must go under contract from now until 12/14/25 and close on or before 12/31/25.
Taylor Morrison is having their SNOW PLACE LIKE HOME EVENT. In order to take advantage of these savings you will need to use their affiliated lender, Taylor Morrison Home Funding.
- Conventional 7/6 Adjustable Arm Rate Mortgage – Get 3.75% interest rate for 7 years, at year 8 your rate will adjust annually based on market changes, must go under contract by 12/21/25 and close on or before 1/16/26.
- FHA 5/1 Adjustable Arm Rate Mortgage – Get 3.75% interest rate the first 5 years and at year 6 your rate will adjust annually based on market changes, must go under contract by 12/21/25 and close on or before 1/9/26.
- VA 30-Year Rate – Get 4% fixed interest rate on new home contracts entered from now until 12/21/25 and close on or before 1/16/26.
For a limited time on select quick move-in homes, Toll Brothers Mortgage Company is offering exclusive 2/1 Buydown Program on a 30-year fixed mortgage. This 2/1 Buydown program is only available on homes that close by 12/30/25, so take advantage of this great rate now.
For the 1st year get 3.49% interest rate, 2nd year get 4.49% interest rate and from years 3-30 get 5.49% interest rate.
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ROB & ANG BETS – December 2025
MEDIAN SALES PRICE
Rob said $5,000 decrease*
Ang said $2,000 decrease
Damian said Flat
Actual # $14,625 increase
ANG won this!
WITHOUT OFFERS
Rob said 7,400
Ang said 7,500
Damian said 7,500
Actual # 7,033
ROB won this one!
MONTHS OF SUPPLY
Rob said 4.4 months
Ang said 4.3 months
Damian said 4.0 months
Actual # 4.6 months
ROB won this one!
If you’re considering buying or selling a home in the Las Vegas Valley, please don’t hesitate to reach out to me. I’ll get back to you personally and promptly. Thanks for visiting!
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Angela O’Hare
Favorite Las Vegas Realtor
REAL Broker LLC at Urban Nest
Lic. #180246
702-370-5112
[email protected]
www.neighborhoodsinlasvegas.com
