LAS VEGAS (KTNV) — While driving around our valley, you've probably seen many for-sale signs, but did you ever wonder how long the signs stay up or what it's like trying to sell in Las Vegas right now?
Well, one local homeowner tells me it's been tough.
“I know it’s not really a seller’s time right now," said Mia Browning, who stopped trying to sell her North Las Vegas home recently.
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I last spoke with Browning on June 10 for another housing story. She was trying to sell her home at that time, but she has since changed her mind.
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"I’ve just decided that it’s a really good investment," said Browning. "I bought at a really great time where I’m never going to get that interest rate again, so I would be able to make some money on a rental.”
It wasn't an easy decision, but she tells me, in this market, she doesn't feel like a sale makes sense.
“I don’t think I’d make enough money," said Browning.
A trend that Las Vegas Association of Realtors President George Kypreos tells me he's seeing here in our valley.
"We had lots of sellers that actually fell off the market," said Kypreos. "If they didn't get their number, they basically just let their listing expire."
That's partly because of the mortgage rates.
While Andrew Leavitt of West Coast Mortgage tells me rates are down from where they were earlier this year, now at 6.5% conventional, 5.75% FHA and 5.75% VA, Las Vegas Association of Realtors Vice President Stephanie Grant says they haven't seen a big enough change yet.
Kypreos suggests the conventional rate may even be around 6.25% - 6.5% currently.
“Once it shifts to where the interest rate drops, you’re going to have more buyers come out in the market," said Grant.
On Sept.17, the Federal Reserve last met to discuss interest rates and decided to drop them a quarter of a percentage point.
While interest rates only play a small role in determining mortgage rates, it led to the slight drop we are seeing right now.
Grant tells me they're still seeing picky buyers and sellers because of it.
“If they really don’t have to sell, they’re not going to sell, now, unfortunately, the ones that do have to sell, it’s taking them a little longer," said Grant.
The latest Las Vegas Association of Realtors report shows that in September, there were 9,567 listings, 7,502 listings available without an offer, and 49.8% of homes had been on the market for over a month.
All of these numbers are up compared to what they were last month and last year.
According to two Redfin studies, out of the top 50 metro areas in the nation, Las Vegas had the second-highest increase of sellers compared to buyers from August 2024 - August 2025.
The study suggests Las Vegas has 96.7% more sellers than buyers.
Redfin numbers also show Las Vegas has the second largest jump in listings in the nation and the third largest increase in total days a home is on the market from September 2024 - September 2025.
The study shows there were 20.7% more listings, and homes are on the market an average of 19 more days than before, saying homes are on the market for an average of 63 days now.
Kypreos says the numbers don't tell the full story, though. He says that with many sellers not budging on their price, and some letting their listings expire, it is leading to increased numbers in some of these categories.
He says the market is healthier than the numbers suggest, saying sellers are still able to sell if they are willing to negotiate with buyers, and that buyers are still willing to buy if they can get a good deal to offset high costs and mortgage rates.
Kypreos says it just means it's more of a buyer's market, and he says he's optimistic for the future.
"I don't see concerns; we tell all of our agents in town it's a healthy market to do business with," said Kypreos.
Browning hopes she can eventually get her dream home.
“It’s something I’ve put a little bit on the back burner just because life has been busy, but it’s still something that I desire," said Browning.
Many in our community tell me they're hopeful there will be more rate drops in the future, helping more buyers and sellers in our valley.
While Kypreos says lower rates should bring more buyers into the market, it would also bring back more competition, fewer available listings and homes with multiple offers.
