Las Vegas, NV (KDWN) - The median price of an existing single-family home in Las Vegas fell to $470,000 in September, according to the latest report released by Las Vegas REALTORS® (LVR).
This September price is a 1.1% dip from August 2026 and matches the exact median price from September 2025. Prices are down $20,000 from the all-time record high of $490,000 experienced in May and June.
The cooling trend across Southern Nevada is primarily driven by rising mortgage rates, impacting buyer purchasing power and leading to an accumulation of housing inventory.
The median price of a condo or townhome fell to $290,000, down from August and a 1.4% decrease year-over-year. This sits well below the record high of $315,000 set in late 2024.
A total of 2,169 existing properties were sold in September, representing a notable year-over-year drop in closings (down 7.4% for single-family homes and down 12.6% for condos).
At the end of September, there were 7,995 single-family homes and 2,796 condos/townhomes listed on the market without an offer—marking a 6.6% and 7.3% increase in unsold inventory compared to last year, respectively.
