March 2026 Las Vegas Housing Report

A report released Tuesday by Las Vegas REALTORS® (LVR) shows local homes prices are down slightly from one year ago, with an increasing number of properties available for sale.

LVR reported the median price of existing single-family homes sold in Southern Nevada through its Multiple Listing Service (MLS) during March was $480,000. That’s down 1.0% from one year earlier – and down from the all-time high of $488,995 set in November 2025.

The median price of local condos and townhomes sold in March was $295,000. That’s down 3.8% from March 2025 – and well off the record high of $315,000 set in October 2024. “With mortgage rates rising since the conflict with Iran started, the housing market is facing some new headwinds, but the fundamentals of the local housing market remain strong,” said LVR President George Kypreos, a longtime local REALTOR®. “As this month’s sales numbers show, Southern Nevada continues to be an attractive place to buy a home. We see solid demand for homes here. That’s even more apparent whenever interest rates start to go down.”

By the end of March, LVR reported 6,456 single-family homes listed for sale without any sort of offer. That’s up 19.2% from one year earlier. The 2,568 condos and townhomes listed without offers in March represent a 16.5% increase from one year earlier.

LVR reported a total of 2,806 existing local homes, condos and townhomes sold in March. Compared to March 2025, sales were up 6.8% for homes but down 9.1% for condos and townhomes. The sales pace in March equates to more than a three-month housing supply. One year earlier, Southern Nevada had less than a three-month housing supply. Fewer existing local homes were sold in 2025 than during 2024, with LVR data showing 2025 marked the lowest annual sales total since 2007. Sales have seen peaks and valleys in recent years, generally declining since 2021, when a record 50,010 total properties were sold.

Other highlights include:

In March, 71.5% of all existing local homes and 68.5% of all existing local condos and townhomes sold within 60 days. That’s down from one year earlier, when 76.0% of all homes and 74.2% of all condos and townhomes sold within 60 days.

• During March, LVR found that 21.8% of all local property sales were cash transactions. That’s down from 24.6% one year earlier – well below the March 2013 cash buyer peak of 59.5%.

• The number of so-called distressed sales remains near historically low levels. LVR reported that short sales and foreclosures combined accounted for 0.9% of all existing local property sales in March. That compares to 1.1% one year ago.

• The total value of local real estate transactions tracked through the MLS during March was more than $1.4 billion for homes and nearly $163 million for condos, high-rise condos and townhomes. Compared to one year earlier, total sales values in March were up 6.1% for homes, but down 11.8% for condos and townhomes.

These LVR statistics include activity through the end of March 2026. LVR distributes statistics each month based on data collected through its MLS, which does not account for all newly constructed homes sold by local builders or homes for sale by owners.

About LVR
Las Vegas REALTORS® (formerly known as GLVAR) was founded in 1947 and provides its nearly 16,000 local members with education, training and political representation. The local representative of the National Association of REALTORS®, LVR is the largest professional organization in Southern Nevada. Each member receives the highest level of professional training and must abide by a strict code of ethics. For more information, visit www.LasVegasRealtor.com.