While the Las Vegas Valley’s residential real estate market looks to be picking up a bit, home prices continue to sit at record highs, according to new data from Remax.
The median sale price of a house in the valley remained almost unchanged in June at $450,000, according to Remax’s data — the highest sale price ever recorded. The median price in the same month last year was $445,000 in June 2025, according to the data pulled from the Multiple Listings Service.
The median price also hit that high water mark back in May 2022 during the real estate buying and selling frenzy amid the pandemic when interest rates bottomed during COVID-related lockdowns, government stimulus spending and supply chain issues.
However, closed transactions jumped last month in the valley 10.4 percent from May (from 2,581 to 2,845). Lori Galarza, a Broker and Owner of Remax Central, said last year buyers appeared to be waiting to see what was going to happen with mortgage rates, so overall sellers became more frustrated and lowered prices to get their homes sold. Mortgage rates have remained stubbornly elevated since 2022, only dipping below 6 percent for a 30-year fixed-term momentarily last year.
“This year, so far, many sellers I have worked with knew what the market was going to be like and made decisions ahead of time not to sell unless they got close to what they wanted,” she said. “I believe that’s the mindset for sellers and why home prices didn’t adjust lower looking at June 2025 versus June 2026. Interest rates were mildly lower in June this year compared to last year, so buyers understood that if they wanted to buy, they didn’t need to wait.”
Approximately 4,618 new listings came onto the market in the valley in June, and inventory rose to 3.9 months of sales, which is up 4.6 percent since May.
National outlook
June data from Remax showed home sales rose 8.9 percent across the country from May to June and 7.8 percent from June 2025. Active inventory also increased 5 percent month over month and 2.5 percent year over year. At the same time, new listings dropped 1.9 percent from May but were 2.4 percent higher than one year earlier, signaling a market with more movement but not a dramatic shift in supply, according to the company’s report.
“The June report suggests that buyers and sellers were both active as summer got underway,” continues the report. “Median sales price was $460,000, up 2.4 percent from May and 2.2 percent from last June. Buyers paid an average of 99 percent of asking price, the same as May and a year ago. Months’ supply of inventory was 2.7, up from May but the same as in June 2025, reinforcing that while options improved in some metros, the market remained competitive in many others.”
Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.
