A recent Las Vegas Realtors report shows local home prices dipped in July from their record high, with increasingly stable sales and inventory.
LVR reported that the median price of existing single-family homes sold in Southern Nevada through its Multiple Listing Service during July was $480,000. That’s down 1 percent from July 2025 and down 2 percent from the all-time high set in May and June.
The median price of local condos and townhomes sold in July was $290,000. That matches the price from July 2025 — well below the record high of $315,000 set in October 2024.
“Despite the slight decline in prices during July, we’re seeing a steady demand for homes here in Southern Nevada, and that continues to drive home sales and keep prices near record levels,” said LVR President George Kypreos, a longtime local Realtor. “That demand has stayed strong even though mortgage rates have remained elevated.”
By the end of July, LVR reported 7,442 single-family homes listed for sale without any sort of offer. That’s up 4.1 percent from one year earlier. The 2,719 condos and townhomes listed without offers in July represent a 3.7 percent increase from one year earlier.
LVR reported a total of 2,587 existing local homes, condos and townhomes sold in July. Compared with July 2025, sales were up 1.2 percent for homes, but down 1.1 percent for condos and townhomes. The sales pace in July equates to nearly a four-month housing supply, similar to one year ago.
The sales pace this year has been similar to 2025, which posted the lowest annual sales total since 2007. Sales have seen peaks and valleys in recent years, generally declining since 2021, when LVR reported a record 50,010 total properties were sold.
Other highlights
In July, 80 percent of all existing local homes and 67.6 percent of all existing local condos and townhomes sold within 60 days. During that same month last year, 78.8 percent of all homes and 73.5 percent of all condos and townhomes sold within 60 days.
During July, LVR found that 23.9 percent of all local property sales were cash transactions. That compares to 23.8 percent one year earlier — well below the February 2013 cash buyer peak of 59.5 percent.
The number of distressed sales remains near historically low levels. LVR reported that short sales and foreclosures combined accounted for 0.7 percent of all existing local property sales in July. That compares with 0.9 percent one year ago.
The total value of local real estate transactions tracked through the MLS during July was nearly $1.3 billion for homes and more than $169 million for condos, high-rise condos and townhomes. Compared with one year earlier, total sales values in July were up 2.1 percent for homes and up 0.4 percent for condos and townhomes.
These LVR statistics include activity through the end of July 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.
Las Vegas Realtors (formerly known as Greater Las Vegas Association of Realtors) was founded in 1947 and provides its nearly 15,000 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 LasVegasRealtor.com..
