Local Home Sales Fall Again in October

Southern Nevada's median single-family home price held near record levels while condo and townhome sales dropped sharply.

Updated on Nov. 6, 2026 in Residential

Gouache-painted editorial illustration of a single pale stucco house with a tiled roof on flat desert ground, evoking the local housing market. — Southern Nevada home sales fell 11.9% in October from a year earlier, while the median single-family price held at $475,000, near record levels, according to Las Vegas REALTORS. AI Illustration. Upload story photo >

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Las Vegas REALTORS reported that home sales declined again in October 2026, with 1,895 existing local homes, condos and townhomes sold, down 11.9% from October 2025. The median price of existing single-family homes in Southern Nevada was $475,000, up 0.1% year over year.

Why it matters

The decline reflects continued drag from higher mortgage interest rates on buyers in Las Vegas and across Southern Nevada. LVR's president suggested the statistics could look different if rates fell by about a percentage point.

The median condo and townhome price was $279,000, down 2.1% from October 2025 and well below the $315,000 record set in October 2024. About 26.2% of local property sales were cash transactions, a share the report does not explain further.

The players

Las Vegas REALTORS (LVR)

The Las Vegas REALTORS organization is a local trade association of real estate professionals that compiles and publishes housing market statistics for Southern Nevada.

The details

LVR compiles these figures from data collected through its Multiple Listing Service, and the single-family median of $475,000 sits below the all-time high of $490,000 reached in May and June. Sales volume fell faster in the condo and townhome segment than in single-family homes.

May and June 2026: Single-family median price reached an all-time high of $490,000.
October 2026: LVR recorded the monthly sales declines and median price figures reported here.
November 5, 2026: LVR released the October report publicly.

Market Landscape

The 2025 annual sales total was the lowest since 2007, according to LVR data, and October's 11.9% year-over-year drop shows the slowdown has persisted into 2026. Condo and townhome sales, falling 23.6%, are declining faster than the single-family segment.

For buyers, the slowdown means less competition in some segments but a continued barrier from higher mortgage rates. Homeowners weighing a sale should note that a nearly six-month supply gives sellers less pricing leverage than in recent years.