Southern Nevada’s housing market began 2026 with conditions increasingly favorable to buyers, according to a report released this morning by Las Vegas Realtors.
The median price of existing single-family homes sold in January remained at $470,000, matching December’s figure. The price represents a 3.1% decline from one year earlier and sits below the all-time high of $488,995 reached in November 2025.
Condos and townhomes saw similar trends, with the January median price of $283,750 marking a 3.2% decrease from January 2025.
That figure is well below the record high of $315,000 set in October 2024.
“They now have more homes to choose from at prices that have been stabilizing,” said George Kypreos, the LVR president, calling the report “another indication of how conditions are starting to favor buyers.”
Inventory has grown significantly.
By the end of January, 6,190 single-family homes were listed without offers, up 18.7% from the previous year. Available condos and townhomes totaled 2,377, representing a 25.4% year-over-year increase.
Sales activity slowed, with 1,825 existing homes, condos and townhomes sold in January — down 8.4% for homes and 8.0% for condos and townhomes compared to January 2025. The January sales pace equates to nearly a five-month housing supply, up from just over three and half months a year earlier.