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flag Las Vegas home prices dropped in December 2025, with sales at a 17-year low and inventory rising, yet signs of market stabilization emerged.

flag Las Vegas home prices fell in December 2025, with the median for single-family homes at $470,000, down 1.1% from a year earlier and 3.9% from November’s peak. flag Condo and townhome prices dropped to $275,000, a 5.2% annual decline. flag Home sales hit a 17-year low, with 28,498 properties sold in 2025, the fewest since 2007. flag Inventory rose sharply, with nearly 8,700 homes and condos listed without offers by year-end—up over 28% from 2024. flag Despite slower sales and declining prices, officials noted stabilizing conditions, lower mortgage rates, and improving buyer interest, signaling a more balanced market ahead.

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