A report released Friday by Las Vegas REALTORS® (LVR) shows Southern Nevada began the year with trends favoring home buyers.
LVR reported the median price of existing single-family homes sold in Southern Nevada through its Multiple Listing Service (MLS) during January was $470,000. That’s the same as December and down 3.1% from one year earlier. It’s also down from the all-time high of $488,995 set in November 2025.
The median price of local condos and townhomes sold in January was $283,750. That’s down 3.2% from January 2025 – and well off the record high of $315,000 set in October 2024.
“Overall, this month’s LVR report is another indication of how conditions are starting to favor buyers,” said LVR President George Kypreos, a longtime local REALTOR®. “They now have more homes to choose from at prices that have been stabilizing.”
By the end of January, LVR reported 6,190 single-family homes listed for sale without any sort of offer. That’s up 18.7% from one year earlier. The 2,377 condos and townhomes listed without offers in January represent a 25.4% increase from one year earlier.
LVR reported a total of 1,825 existing local homes, condos and townhomes sold in January. Compared to January 2025, sales were down 8.4% for homes and down 8.0% for condos and townhomes.
The sales pace in January equates to nearly a five-month housing supply. One year earlier, Southern Nevada had a housing supply of just over three and half months.
LVR reported that fewer existing local homes were sold in 2025 than during 2024, with 2025 marking the lowest annual sales total since 2007. Sales have seen peaks and valleys in recent years, generally declining since 2021, when a record 50,010 total properties were sold.
Other highlights include:
-
In January, 65.7% of all existing local homes and 60.8% of all existing local condos and townhomes sold within 60 days. That’s down from one year earlier, when 72.5% of all homes and 73.6% of all condos and townhomes sold within 60 days.
-
During January, LVR found that 26% of all local property sales were cash transactions. That’s down from 28.5% one year earlier – well below the February 2013 cash buyer peak of 59.5%.
-
The number of so-called distressed sales remains near historically low levels. LVR reported that short sales and foreclosures combined accounted for 0.8% of all existing local property sales in January. That compares to 0.9% the previous year and 1.2% five years ago.
-
The total value of local real estate transactions tracked through the MLS during January was more than $896 million for homes and more than $143 million for condos, high-rise condos and townhomes. Compared to one year earlier, total sales values in January were down 5.3% for homes, but up 14.6% for condos and townhomes.
These LVR statistics include activity through the end of January 2026. LVR distributes statistics each month based on data collected through its MLS, which does not account for all newly constructed homes sold by local builders or homes for sale by owners.
About LVR
