LAS VEGAS (FOX5) — New Nevada housing data released Friday morning is showing a promising start for homebuyers in 2026.
A new report from Las Vegas Realtors showed that prices stabilized and inventory increased in January to create market conditions that favor homebuyers.
The median price of existing single-family homes sold through the Multiple Listing Service during January was $470,000, unchanged from December and down 3.1% from January 2025. The price remains below the all-time high of $488,995 set in November 2025.
Condos and townhomes saw a median sale price of $283,750 in January, down 3.2% from the same month last year and significantly below the record high of $315,000 reached 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. “They now have more homes to choose from at prices that have been stabilizing.”
By the end of January, 6,190 single-family homes were listed for sale without offers, representing an 18.7% increase from one year earlier. The number of condos and townhomes listed without offers rose 25.4% to 2,377 units.
Total sales declined in January, with 1,825 existing homes, condos and townhomes sold. Sales dropped 8.4% for homes and 8.0% for condos and townhomes compared to January 2025.
The January sales pace created nearly a five-month housing supply, up from just over three and a half months one year earlier. LVR reported that 2025 marked the lowest annual sales total since 2007, with sales generally declining since the record 50,010 properties sold in 2021.
In January, 65.7% of existing homes and 60.8% of condos and townhomes sold within 60 days, down from 72.5% and 73.6% respectively in January 2025.
Cash transactions accounted for 26% of all local property sales, down from 28.5% one year earlier and well below the February 2013 peak of 59.5%.
Distressed sales remained near historically low levels, with short sales and foreclosures combining for 0.8% of all existing property sales, compared to 0.9% the previous year.
The total value of real estate transactions reached more than $896 million for homes and more than $143 million for condos and townhomes. Compared to January 2025, total sales values declined 5.3% for homes but increased 14.6% for condos and townhomes.
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