Licensed Nevada Realtor, HomeSmart Encore, license S.0179652. 5.0 from 32 Google reviews.
What are Las Vegas home prices doing right now? Answer: The median single-family home sold for $475,000 in August 2026, down 1.0% from a year earlier and below the $490,000 record set in May and June, while the number of homes sitting without an offer climbed to 7,590. Prices are holding close to their peak, but you now compete with more listings and higher mortgage rates than you did this spring.
Las Vegas home prices did not crash this summer. They did something quieter, and for you as a seller, more important: they stopped climbing while competition grew. If you plan to sell this fall, the August numbers tell you exactly where you stand.
Here is what Las Vegas REALTORS reported for August, what changed since spring, and what it means for your price and your timeline.
The August 2026 Numbers at a Glance
The Las Vegas REALTORS August 2026 report covers existing homes sold through the multiple listing service across Southern Nevada. Here is what it shows for your market:
| Measure | August 2026 | Change from a year earlier |
|---|---|---|
| Median single-family sale price | $475,000 | Down 1.0% |
| Median condo and townhome sale price | $299,900 | Up 0.6% |
| Single-family homes listed with no offer | 7,590 | Up 5.3% |
| Condos and townhomes listed with no offer | 2,714 | Up 6.0% |
| Total homes, condos and townhomes sold | 2,252 | Homes down 1.7%, condos down 7.4% |
| Homes sold within 60 days | 74.8% | Was 77.5% |
| Cash purchases | 21.9% | Was 22.9% |
The sales pace in August works out to a little over four and a half months of housing supply, up slightly from a year ago. For your sale, that means buyers have a little more to choose from and a little less urgency than they had last summer.
Where Las Vegas Home Prices Have Been This Year
Your neighbors have heard two stories this year: prices are crashing, or prices keep setting records. Neither one is true. I checked every monthly report Las Vegas REALTORS published from August 2025 through August 2026, and the median single-family price stayed inside a narrow band the entire time.
- The low of the past year: $470,000, in September 2025, December 2025 and January 2026
- The high: $490,000, the all-time record set in May and held in June 2026
- November 2025 briefly touched $488,995
- Since the June record: $480,000 in July and $475,000 in August
A swing of about $20,000 across a full year is a stable market, not a falling one. The president of Las Vegas REALTORS described prices as “pretty stable this year” in the August report. What changed for you is not the price level. It is the pace and the competition around it.
More Homes Are Waiting for Buyers
The number that matters most for your sale this fall is not the median price. It is the 7,590 single-family homes that ended August with no offer, up from 7,206 a year earlier and up from 6,131 as recently as February.
Every one of those listings competes with yours for the same buyers. The share of homes selling within 60 days slipped from 77.5% to 74.8% over the past year. Homes still sell, and most sell quickly, but a slow launch now costs you more than it did a year ago, because buyers who pass on your home have plenty of others to see.
Condos and Townhomes Tell a Different Story
If you own a condo or townhome, your numbers moved differently from single-family homes. The median condo and townhome sold for $299,900 in August, up 0.6% from a year earlier, while the single-family median slipped. Your segment remains well below its own record of $315,000, set in October 2024, so condo prices have spent nearly two years below their high.
The pace is slower for your segment too. In August, 68.9% of condos and townhomes sold within 60 days, down from 72.2% a year earlier, and condo sales fell 7.4% while single-family sales fell only 1.7%. For you as a condo seller, that means presentation, association documents ready on day one, and a price set from recent condo sales in your own complex carry even more weight than they do for a house.
Mortgage Rates Crossed 7%
The other force on your buyers is the cost of borrowing. Freddie Mac’s Primary Mortgage Market Survey put the 30-year fixed rate at 7.28% on October 1, 2026, up from 7.03% the week before and from 6.34% a year ago. The 15-year fixed averaged 6.60%. This is the first time the 30-year has averaged above 7% in 2026. The year’s low came on February 26, at 5.98%.
Here is what that means for your buyer’s payment. On a $400,000 loan, principal and interest at 7.28% comes to about $2,737 a month. That is about $251 more than at last year’s rate, and about $344 more than at February’s low. Every increase like that pushes some buyers out of your price range, and it makes the rest more careful about what they offer.
For the full picture on rates, read my September market watch. If you are weighing your timing, my guide on whether to sell now or wait walks through the tradeoffs.
What This Means for Your Sale
Put the numbers together and you get a market that rewards preparation. Prices hold near their peak, so your equity is intact. Competition is higher and buyers face steeper payments, so your home has to earn its offer. Here is what works for you right now:
- Price from recent sold homes near yours, not from the spring record or your neighbor’s asking price
- Fix what an inspector will flag before you list, because buyers stretching on payment have little room for surprises
- Launch with professional photos and easy showings, since the first weeks draw the most attention
- Judge offers on full terms and your net, not the headline number alone
My guide to getting the most money when you sell covers each of these step by step.
Know Your Number Before You List
The valley-wide median is a starting point, not your price. Your street, your condition, your upgrades and your lot all move your number. Every one of my 32 Google reviews is five stars, and that starts with telling you the truth about your home’s value, even when the market shifts.
If you want your own number before you decide anything, start with a free home value report. No cost, no obligation.
Las Vegas Home Price Questions, Answered
What is the median home price in Las Vegas right now?
The median single-family home sold through the MLS in Southern Nevada for $475,000 in August 2026, according to Las Vegas REALTORS. Condos and townhomes sold for a median of $299,900. Your own home’s value depends on its location, size and condition.
Are Las Vegas home prices going down?
Slightly, from a record. The August median of $475,000 sits below the $490,000 peak set in May and June 2026 and is down 1.0% from a year earlier. Over the past twelve months the median has stayed between $470,000 and $490,000, so your equity has held steady.
How many homes are for sale in Las Vegas?
At the end of August 2026, Las Vegas REALTORS counted 7,590 single-family homes and 2,714 condos and townhomes listed with no offer. Both numbers are higher than a year ago, which gives your buyers more choice.
How fast are homes selling in Las Vegas?
In August 2026, 74.8% of existing homes sold within 60 days, compared with 77.5% a year earlier. Most homes still sell quickly, but a well-priced, well-presented launch matters more for your sale than it did last year.
What are mortgage rates in Las Vegas right now?
Freddie Mac’s national survey put the 30-year fixed rate at 7.28% and the 15-year at 6.60% on October 1, 2026. Your buyer’s actual rate depends on credit, down payment and loan type, so a licensed lender gives the exact quote.
Is now a good time to sell my Las Vegas home?
Prices remain close to record levels, which protects your equity, while rising inventory and rates make buyers more selective. Sellers who price from recent sales and launch prepared do well in this market. A free home value report shows you where your home fits.
Want to know what this market means for your home?
Call me and I answer. Same day, every time.
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