The Southern Nevada housing market continued to cool slightly in August, with fewer homes selling and the median price of single-family homes slipping below last year’s level, according to the latest housing statistics from Las Vegas REALTORS® (LVR).
Las Vegas Home Prices
The median price of an existing single-family home sold in Southern Nevada during August was $475,000, according to LVR.
That represents a 1.0% decrease from August 2025 and puts the median price $15,000 below the all-time high of $490,000, which was reached in May and June 2026.
Condos and townhomes moved in the opposite direction. Their August median sales price was $299,900, up 0.6% from August 2025. That remains below the record median price of $315,000 set in October 2024.
LVR President George Kypreos described local home prices as relatively stable over the past couple of years, while noting that rising mortgage rates have contributed to slower sales.
More Homes Are Available for Buyers
Inventory continued to run higher than it did a year ago.
At the end of August, LVR reported 7,590 single-family homes listed for sale without an offer, an increase of 5.3% from August 2025.
There were also 2,714 condos and townhomes listed without offers, up 6.0% year over year.
Based on the August sales pace, Southern Nevada had a housing supply of just over 4.5 months, slightly higher than one year earlier.
August Home Sales Slowed
A total of 2,252 existing homes, condos and townhomes were sold through the LVR Multiple Listing Service during August.
Compared with August 2025:
- Single-family home sales declined 1.7%
- Condo and townhome sales declined 7.4%
The pace of sales so far in 2026 has been similar to 2025, when Southern Nevada recorded its lowest annual sales total since 2007.
For some historical perspective, LVR reported a record 50,010 properties sold in 2021. Sales have generally declined since that peak.
Homes Are Taking Longer to Sell
The August statistics also show homes taking somewhat longer to find buyers.
74.8% of existing single-family homes sold within 60 days, compared with 77.5% in August 2025.
For condos and townhomes, 68.9% sold within 60 days, down from 72.2% one year earlier.
Cash Buyers and Distressed Sales
Cash purchases represented 21.9% of all local property sales in August, down from 22.9% one year ago.
Cash buyers now represent a much smaller portion of the Las Vegas housing market than they did following the Great Recession. At their February 2013 peak, cash transactions accounted for 59.5% of local sales.
Distressed properties also remain a very small part of the market.
Short sales and foreclosures combined represented 1.0% of existing local property sales in August, compared with 0.5% in August 2025.
More Than $1.3 Billion in August Real Estate Sales
The total value of single-family home transactions tracked through the MLS during August was nearly $1.2 billion, an increase of 7.8% from one year earlier.
Condo, high-rise condo and townhome transactions totaled more than $136 million, down 13.7% year over year.
What the August Numbers Tell Us
August continues a pattern we’ve been watching in the Las Vegas housing market: prices remain relatively stable, inventory is higher, and buyers are taking more time to make decisions.
The $475,000 median single-family home price is only 1% below where it stood a year ago, so this is not a market experiencing a dramatic decline in home values. At the same time, rising inventory and slower sales mean buyers generally have more choices than they did a year ago.
For sellers, pricing and presentation become increasingly important when buyers have more homes competing for their attention.
For buyers, the additional inventory may create opportunities that were much harder to find during the extremely tight housing markets of recent years.
About the Data
These statistics cover activity through the end of August 2026 and are based on data collected by Las Vegas REALTORS® through its Multiple Listing Service.
The statistics primarily reflect existing-home sales and do not include all newly constructed homes sold directly by local builders or homes offered for sale by owners.
Source: Las Vegas REALTORS®, August 2026 housing statistics.
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