Housing report shows fewer sales, slightly lower prices

Housing report shows fewer sales, slightly lower prices Las Vegas — September 25, 2026 — 2:05 p.m. Las Vegas Realtors reported that the median price of existing single‑family homes sold in Southern Nevada through its Multiple Listing Service in August was $475,000, a decline of 1 percent from August 2025 and below the all‑time high of $490,000 recorded in May and June. The median price for section condos and townhomes sold in August was $299,900, representing a 0.6 percent increase from August 2025 but remaining beneath the peak of $315,000 seen in October 2024. “Local location prices person been beauteous unchangeable this twelvemonth — and truly for the past 2 years oregon so,” said LVR President George Kypreos, a longtime section Realtor. “It’s not astonishing to spot income slowing down a bit, particularly considering however owe rates person been rising precocious and that tin beryllium a resistance connected the lodging market.” By the end of August, LVR counted 7,590 single‑family homes listed for sale without any offer, an increase of 5.3 percent compared with one year earlier. The 2,714 condos and townhomes listed without offers in August marked a 6 percent rise from the same period a year ago. LVR tallied 2,252 existing single‑family homes, condos and townhomes sold in August. Compared with August 2025, sales fell 1.7 percent for homes and 7.4 percent for condos and townhomes. The sales pace in August corresponds to a housing supply of just over four and a half months, slightly higher than twelve months prior. The sales pace so far this year has resembled that of 2025, which recorded the lowest yearly total since 2007. Activity has shown peaks and valleys in recent years, trending downward since 2021, when LVR reported a record 50,010 properties sold. Additional highlights from the August data include: - 74.8 percent of existing single‑family homes and 68.9 percent of existing condos and townhomes closed within 60 days. In the same period last year, 77.5 percent of homes and 72.2 percent of condos and townhomes sold within that timeframe. - LVR found that 21.9 percent of all section‑home sales in August were cash transactions, down from 22.9 percent a year earlier and well below the February 2013 peak of 59.5 percent for cash buyers. - Distressed sales remained at historically low levels, with short sales and foreclosures together accounting for 1 percent of existing section‑home sales in August, compared with 0.5 percent one year ago. - The total value of section‑property transactions tracked by the MLS in August amounted to roughly $1.2 billion for homes and more than $136 million for condos, high‑rise condos and townhomes. Compared with the prior year, total sales value rose 7.8 percent for homes but declined 13.7 percent for condos and townhomes. These LVR statistics cover activity through the end of August 2026. The association releases monthly figures based on data gathered from its MLS, which does not include newly built homes sold by builders or properties offered for sale by owners. Las Vegas Realtors (formerly known as the Greater Las Vegas Association of Realtors) was founded in 1947 and provides its approximately 15,000 local members with education, training and governmental representation. As the state chapter of the National Association of Realtors, LVR is the largest nonprofit organization in Southern Nevada. For more information, visit LasVegasRealtor.com.