What Did Las Vegas Home Prices Do in September 2026?

Las Vegas Realtors released its September 2026 housing statistics on October 6, and the report was covered the same day by FOX5 Vegas, the Las Vegas Review-Journal, VEGAS INC and KLAS. Here's what the numbers show, how they compare with August, and what they mean whether you're buying or selling in the valley this fall.

What Was the Median Home Price in Las Vegas in September 2026?

The median price of existing single-family homes sold through the local MLS in September was $470,000. That's down 1.1% from August, exactly even with September 2025, and roughly $20,000 below the all-time high of $490,000 that Las Vegas Realtors recorded in May and June.

For context, the August median was $475,000, as covered in our breakdown of whether home prices are dropping in Las Vegas this year. September marks a third straight month of small declines from the June peak, but the year-over-year comparison is flat, which is why most local coverage describes the market as cooling rather than falling.

Condos and townhomes moved the same direction. Their September median was $290,000, down from August and down 1.4% from a year earlier, and still below the segment's record of $315,000 set in October 2024.

How Many Homes Sold in Las Vegas in September?

Las Vegas Realtors counted 2,169 existing homes, condos and townhomes sold in September. Compared with September 2025, single-family sales were down 7.4% and condo and townhome sales were down 12.6%.

The dollar volume tells the same story. Local MLS transactions totaled more than $1 billion for homes and more than $127 million for condos, high-rise condos and townhomes, down 10.3% and 14.4% respectively from a year earlier. Year to date, the sales pace is running close to 2025, which was the slowest year for local sales since 2007. For perspective, the valley set its record in 2021 with 50,010 properties sold.

How Much Housing Inventory Is on the Market Now?

By the end of September there were 7,995 single-family homes listed for sale without any offer, up 6.6% from a year earlier, plus 2,796 condos and townhomes without offers, up 7.3%. At September's sales pace, that adds up to about a five-month supply of homes, compared with roughly four months a year ago.

August's report showed about 7,590 single-family homes without offers and a bit over four and a half months of supply, so inventory kept building through September. A six-month supply is generally considered a balanced market, which means Las Vegas is moving toward neutral territory but isn't there yet.

Are Las Vegas Homes Still Selling Quickly?

The ones that sell, yes. In September, 75.9% of existing homes and 70.5% of existing condos and townhomes sold within 60 days. A year earlier those shares were 72.0% and 67.0%. In other words, more homes are sitting on the market overall, yet the homes that do sell are moving a little faster than they did last fall.

That split usually points to pricing. Homes priced in line with current sales tend to move, while listings still priced off last spring's peak make up a growing share of the unsold inventory. If you've listed and the showings aren't turning into offers, our guide to whether you should lower your asking price in Las Vegas walks through how to read those signals.

Why Are Fewer Homes Selling in Las Vegas?

Las Vegas Realtors President George Kypreos pointed to rising mortgage rates as the main factor in September's slowdown, noting that nobody knows where rates will go next. Higher rates shrink how much house a monthly budget can buy, which thins the pool of buyers at any given price.

To see what that means in dollars, our math on how much a 7.28% mortgage rate adds to a Las Vegas payment runs the numbers on a typical local home. One caveat on the data itself: Las Vegas Realtors' figures come from its MLS, which doesn't capture all new homes sold directly by builders or homes sold by owners.

Are Cash Buyers or Distressed Sales Increasing?

Not meaningfully. Cash purchases made up 23.5% of all local sales in September, compared with 23.0% a year earlier and far below the 59.5% peak of February 2013. Short sales and foreclosures combined were 1.1% of sales, up from 0.5% a year ago but still near historic lows. That's an important difference from the last downturn: today's slowdown is being driven by affordability and rates, not by forced selling.

What Does September's Report Mean for Buyers?

More choice and more room to negotiate. With a five-month supply and a growing number of homes sitting without offers, buyers can compare options, ask for repairs or closing-cost help, and take time on inspections. Prices are roughly flat from a year ago, so the bigger variable is your financing. If you're buying for the first time, our take on whether now is a good time for first-time buyers in Las Vegas covers the trade-offs in more detail.

What Does September's Report Mean for Sellers?

Price to today's market, not last spring's. The 60-day numbers show that well-priced homes are still selling at a healthy clip. What's changed is how much competition a listing faces and how quickly buyers move past homes that look expensive next to the alternatives. Start from recent closed sales in your neighborhood, plan for some negotiation on terms, and review your pricing early if showings don't produce offers.

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Frequently asked questions

What is the median home price in Las Vegas right now?
Las Vegas Realtors reported a median single-family price of $470,000 for September 2026, down 1.1% from August and unchanged from September 2025. The condo and townhome median was $290,000.

How much have Las Vegas home prices dropped from their peak?
About $20,000. The single-family median hit a record $490,000 in May and June 2026 and was $470,000 in September, a third straight month of small declines.

How many homes sold in Las Vegas in September 2026?
Las Vegas Realtors counted 2,169 existing homes, condos and townhomes sold. Single-family sales were down 7.4% and condo and townhome sales were down 12.6% from September 2025.

How much inventory is on the Las Vegas market?
At the end of September there were 7,995 single-family homes and 2,796 condos and townhomes listed without offers, both up from a year earlier, or about a five-month supply.

Is Las Vegas a buyer's market now?
It's moving in that direction. A five-month supply gives buyers more bargaining power than a year ago, but a six-month supply is typically considered balanced, and prices are roughly flat year over year.

Figures are from Las Vegas Realtors’ September 2026 report, released October 6, 2026, as reported by FOX5 Vegas, the Las Vegas Review-Journal, VEGAS INC and KLAS. August comparisons are from the same organization’s August report. LVR’s MLS figures do not include all new homes sold by builders or homes sold by owners.

About Alexandra Malenkina

Alexandra Malenkina is the Broker/Owner of Nevada Realty Experts, a bilingual English/Russian brokerage serving the Las Vegas Valley. With 15+ years of experience and 300+ home sales, she ranks among the top 5% of 16,000+ Las Vegas agents, with 75 five-star team reviews and 50+ Google reviews. Nevada Real Estate License B.1001643.

Nevada Real Estate License B.1001643 | Nevada Realty Experts
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Equal Housing Opportunity. This content is for informational purposes only and does not constitute legal, tax, or financial advice. All real estate information is deemed reliable but not guaranteed. Buyers and sellers should consult licensed professionals for advice specific to their situation.