Home sales in Southern Nevada fell again in October while prices remained steady, according to a report released today by Las Vegas Realtors. The trade group blamed higher mortgage interest rates for the decline.
The median price of existing single-family homes sold in October was $475,000, up 0.1% from October 2025 but still below the record high of $490,000 set in May and June. The median price of condos and townhomes was $279,000, down 2.1% from a year earlier and well below the $315,000 record set in October 2024.
A total of 1,895 existing homes, condos and townhomes sold in October. Compared with October 2025, single-family home sales dropped 11.9% while condo and townhome sales fell 23.6%. At the end of October, 8,112 single-family homes were listed without offers, up 7.6% from a year earlier, and condo and townhome listings without offers rose 6.7% to 2,837.
The average 30-year fixed mortgage rate was 7.18% this week, according to Freddie Mac, down from 7.24% the previous week but above 6.22% a year earlier. "We're seeing the impact of the recent rise in mortgage rates," said George Kypreos, president of Las Vegas Realtors. "I suspect these statistics would look a lot different if rates went back down by a percentage point or so. The demand for homes in Southern Nevada is still strong." Sales so far this year are on pace similar to 2025, which recorded the lowest annual sales total since 2007.
Sources: Las Vegas Sun
Original reporting: Las Vegas Review-Journal →
English (US)·