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 – Closing out 2025
The Greater Las Vegas real estate market in December improved nicely over November, but did not catch up to 2024, and retreated to 2023 closing levels. Yet, the Over Pricing index rose again indicating that more price adjustments are needed. The result is that 2025 closed units finished 7.1% behind 2024 and while closed volume was down 4.2% from 2024.
- the Median price of SFR retreated from $488,995 to $470,000.
- the Average price an SFR closing slipped $617,940 to $603,757
The luxury market closed out 2025 on a high note for its best year ever. The luxury market led the December market with 163 closings above $1 Million, including 18 above $3 Million.
Overall, the residential market sits at 4.7 months of residential inventory due to an increase in closings coupled with far fewer listings taken in December.
However, some of the larger market story lies in the new chart above. Cash and conventional financing have both been trending lower since mid-2021, with only FHA financing improving greatly during the same timeframe.
Forrest's Training & Education 