Buyers have more leverage & Sellers face increasing inventory.

Average sales price

$631,06

Median sales price

$424,000 to $470,000

Condo/Townhouse Median Sale Price

$290,000 to $299,900

Active inventory

8,294 to 8,330 active listings

Months of supply

4.7 to 4.85 months

Days on market

24 to 43 days

Mortgage rates

7.16%

Las Vegas • Henderson • North Las Vegas | Q2 vs. Q3 2026

Southern Nevada ended Q2 with home prices at record territory. Las Vegas REALTORS® reported a $490,000 median price for existing single-family homes in June, matching the May record and about 1% above June 2025. A total of 2,823 existing homes, condos and townhomes sold during the month. At the same time, 7,147 single-family homes were listed without offers, showing that inventory was already beginning to provide buyers with more alternatives even as prices remained elevated. During Q3, that balance shifted further toward buyers. By August, the single-family median eased to about $475,000, while sales slowed and available inventory increased. The decline from the $490,000 Q2 record was modest rather than dramatic, but it occurred alongside more listings, longer decision periods, and more frequent price adjustments. Henderson continued to command a premium within the valley, while North Las Vegas remained an important affordability and new-construction market.

The Q2-to-Q3 comparison suggests Southern Nevada is moving from record pricing to a more competitive, negotiable environment. The market is not showing a broad collapse in values; rather, buyers have more leverage and sellers can no longer rely on scarcity alone. As we enter Q4, mortgage rates, builder incentives, and accurate initial pricing will determine which properties sell efficiently and which remain on the market.