LVR reports local home prices pull back from record high

A caller Las Vegas Realtors study shows section location prices dipped successful July from their grounds high, with progressively unchangeable income and inventory.

LVR reported that the median terms of existing single-family homes sold successful Southern Nevada done its Multiple Listing Service during July was $480,000. That’s down 1 percent from July 2025 and down 2 percent from the all-time precocious acceptable successful May and June.

The median terms of section condos and townhomes sold successful July was $290,000. That matches the terms from July 2025 — good beneath the grounds precocious of $315,000 acceptable successful October 2024.

“Despite the flimsy diminution successful prices during July, we’re seeing a dependable request for homes present successful Southern Nevada, and that continues to thrust location income and support prices adjacent grounds levels,” said LVR President George Kypreos, a longtime section Realtor. “That request has stayed beardown adjacent though owe rates person remained elevated.”

By the extremity of July, LVR reported 7,442 single-family homes listed for merchantability without immoderate benignant of offer. That’s up 4.1 percent from 1 twelvemonth earlier. The 2,719 condos and townhomes listed without offers successful July correspond a 3.7 percent summation from 1 twelvemonth earlier.

LVR reported a full of 2,587 existing section homes, condos and townhomes sold successful July. Compared with July 2025, income were up 1.2 percent for homes, but down 1.1 percent for condos and townhomes. The income gait successful July equates to astir a four-month lodging supply, akin to 1 twelvemonth ago.

The income gait this twelvemonth has been akin to 2025, which posted the lowest yearly income full since 2007. Sales person seen peaks and valleys successful caller years, mostly declining since 2021, erstwhile LVR reported a grounds 50,010 full properties were sold.

Other highlights

In July, 80 percent of each existing section homes and 67.6 percent of each existing section condos and townhomes sold wrong 60 days. During that aforesaid period past year, 78.8 percent of each homes and 73.5 percent of each condos and townhomes sold wrong 60 days.

During July, LVR recovered that 23.9 percent of each section spot income were currency transactions. That compares to 23.8 percent 1 twelvemonth earlier — good beneath the February 2013 currency purchaser highest of 59.5 percent.

The fig of distressed income remains adjacent historically debased levels. LVR reported that abbreviated income and foreclosures combined accounted for 0.7 percent of each existing section spot income successful July. That compares with 0.9 percent 1 twelvemonth ago.

The full worth of section existent property transactions tracked done the MLS during July was astir $1.3 cardinal for homes and much than $169 cardinal for condos, high-rise condos and townhomes. Compared with 1 twelvemonth earlier, full income values successful July were up 2.1 percent for homes and up 0.4 percent for condos and townhomes.

These LVR statistic see enactment done the extremity of July 2026. LVR distributes statistic each period based connected information collected done its MLS, which does not relationship for each recently constructed homes sold by section builders oregon homes for merchantability by owners.

Las Vegas Realtors (formerly known arsenic Greater Las Vegas Association of Realtors) was founded successful 1947 and provides its astir 15,000 section members with education, grooming and governmental representation. The section typical of the National Association of Realtors, LVR is the largest nonrecreational enactment successful Southern Nevada. Each subordinate receives the highest level of nonrecreational grooming and indispensable abide by a strict codification of ethics. For much information, sojourn LasVegasRealtor.com..