Forrest's Training & Education

My Comments on Las Vegas REALTORS

LVR needs to chart a different course if there is any hope that 2026 will be a drama-free year. It’s imperative for the Board to remain laser-focused on the many and varied market and real estate practice changes that our members are facing. What about the addition of non-REALTOR members? I hope there is a PAG or sub-committee looking into this one – both for its viability and how to implement a plan to incorporate non-REALTOR members into LVR and the MLS.

But now . . . my wish list! I only have one current item on my wish list for change at LVR. Please bring back mediations for consumers! LVR mediations were always welcome and warmly received by the public and attorneys alike. Consider that LVR mediators enjoyed and eighty- plus percent (80+%) rate when we conducted those mediations. Consider the very positive impact on our clients and the community!!

Current Las Vegas Market Individual Charts

Current Las Vegas Market Report

Market Overview

The Greater Las Vegas real estate market in November slowed down to the point where it may have been one of the three slowest Novembers since 2007. The result is that 2025 closed units are 7.6% behind 2024 and while closed volume is only down 4.3% from 2024.

• the Median price of SFR improved from $471,500 to $488,995.
• the Average price an SFR closing slipped $620,855 to $617,940

The luxury market closing prices did not drive the average sales prices higher as it is beginning to trend sideways. The luxury market still led the November market with 137 closings above $1 Million, including 14 above $3 Million. 

November SFR closings were down 11.3% from October, but new listing taken were down 29.5% leaving us with 5.8 months of inventory. The result of all of this in a sharp increase in the number of over priced homes as 61% of all homes active on the market are over priced.