Been in Vegas six years now, and I keep hearing "well back in [year] you could..." from people who've been here longer. Curious what locals have actually watched change, pricing, neighborhoods, what used to be a "steal" that isn't anymore, what used to be overlooked that's hot now. Not looking for market predictions, just real observations from people who've lived it.

The main takeaway for July of 2026 is that inventory increased while home prices softened slightly. Single family inventory climbed to an absorption rate of 3.6 months, about a 3% increase. Although up, this is much lower than the early months of the year. Median single family home prices dipped 2.0% from June to $480,000, although it’s only 1.0% below where it was a year ago. Keep in mind the all-time high is $490,000 that it came down from.

Despite the month over month slowdown in single family sales, closed sales remain higher than they were a year ago (+1.2%). Last month there was a massive 18% jump in the number of home sales so to see a drop by 11% shows a more stable, balancing market.

New listings continue to outpace last year (+3.3%), and homes are still selling relatively quickly, with 57.4% of single family homes going under contract within 30 days.

We are seeing fluctuations rather than any alarm bells. Rates are fluttering at the 6.6% mark and don’t look to be coming down. The biggest X factor is the fact that we are in July. July is typically one of the stronger months for home sales so to see prices go down at all is notable. School starts in August which is when a good chunk of buyers with children start sitting on the sidelines. To see a softening in July is a bit premature for the seasonal shifts in Las Vegas.

Condos and Townhouses didn’t have any major notable changes as it was give and take with about 4% more units being sold but a small decrease of less than a percentage in median price. 

For buyers, this means more negotiating power and a wider selection of homes than we’ve seen recently. For sellers, pricing accurately is becoming increasingly important as competition grows. Well presented, well priced homes are still selling, but buyers have more options and are becoming more selective.

MARKET STATS | July 2026

🏠 Median Single Family Home Price: $480,000

• 📉 Down from $490,000 a month ago (−2.0%)
• 📉 Down from $485,000 a year ago (−1.0%)

🏢 Median Condo/Townhome Price: $290,000

• 📉 Down from $292,000 a month ago (−0.7%)
• ➡️ Flat from $290,000 a year ago (0.0%)

🆕 New Listings (Single Family): 3,349

• 📉 Down from 3,368 last month (−0.6%)
• 📈 Up from 3,242 last year (+3.3%)

🆕 New Listings (Condo/Townhome): 993

• 📈 Up from 907 last month (+9.5%)
• 📈 Up from 938 last year (+5.9%)

📦 Single Family Homes Without Offers: 7,442

• 📈 Up from 7,147 last month (+4.1%)
• 📈 Up from 7,147 last year (+4.1%)

📦 Condos/Townhomes Without Offers: 2,719

• 📈 Up from 2,690 last month (+1.1%)
• 📈 Up from 2,622 last year (+3.7%)

🏡 Single Family Homes Sold: 2,046

• 📉 Down from 2,302 last month (−11.1%)
• 📈 Up from 2,021 last year (+1.2%)

🏢 Condos/Townhomes Sold: 541

• 📈 Up from 521 last month (+3.8%)
• 📉 Down from 547 last year (−1.1%)

💰 Median Price of New Listings (Single Family): $514,999

• ➡️ Flat from $515,000 last month (0.0%)
• 📉 Down from $519,900 last year (−0.9%)

💰 Median Price of New Listings (Condo/Townhome): $295,000

• 📈 Up from $285,000 last month (+3.5%)
• 📉 Down from $296,500 last year (−0.5%)

📊 Median Price of Active Listings (Single Family): $545,925

• 📉 Down from $549,900 last month (−0.7%)
• 📉 Down from $549,900 last year (−0.7%)

📊 Median Price of Active Listings (Condo/Townhome): $270,000

• ➡️ Flat from $270,000 last month (0.0%)
• 📉 Down from $279,900 last year (−3.5%)

📈 Average Price of Units Sold (Single Family): $613,505

• 📉 Down from $628,394 last month (−2.4%)
• 📈 Up from $608,208 last year (+0.9%)

📈 Average Price of Units Sold (Condo/Townhome): $312,980

• 📉 Down from $353,255 last month (−11.4%)
• 📈 Up from $308,176 last year (+1.6%)

💸 Average Price of New Listings (Single Family): $731,753

• 📈 Up from $701,291 last month (+4.3%)
• 📉 Down from $744,222 last year (−1.7%)

💸 Average Price of New Listings (Condo/Townhome): $311,279

• 📈 Up from $306,420 last month (+1.6%)
• 📉 Down from $333,175 last year (−6.6%)

⏳ Single Family Time on Market: 57.4% sold in 30 days or less

• 📉 Down from 58.2% last month
• 📈 Up from 56.0% a year ago

⏳ Condo/Townhome Time on Market: 43.8% sold in 30 days or less

• 📉 Down from 44.1% last month
• 📉 Down from 47.5% a year ago

📆 Effective Months of Availability (Single Family): 3.6 months

• 📈 Up from 3.1 months last month (+17.2%)
• 📈 Up from 3.5 months a year ago (+2.9%)

📆 Effective Months of Availability (Condo/Townhome): 5.0 months

• 📉 Down from 5.2 months last month (−2.7%)
• 📈 Up from 4.8 months a year ago (+4.8%)

(Data provided by Applied Analysis, a partner of the Las Vegas Realtors Association)

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