In December 2025, Las Vegas saw a 3.9% drop in median home prices to $470,000, yet home sales rose 17.2% from November, indicating strong demand despite price dips. Inventory tightened to 3.5 months, maintaining a seller's market. Luxury home sales increased, with median prices rising. Forecasts predict a slight short-term price dip but overall stability and potential growth in 2026, supported by steady demand and expected mortgage rate declines.