LAS VEGAS (FOX5) — Local home prices and sales both declined in April compared to the same time last year, with an increasing number of properties available for sale, according to a report released Wednesday by Las Vegas Realtors.
LVR reported the median price of existing single-family homes sold in Southern Nevada through its Multiple Listing Service during April was $473,875. That’s down 1.3% from one year earlier and down from the all-time high of $488,995 set in November 2025.
The median price of local condos and townhomes sold in April was $290,000. That’s down 4.2% from April 2025 and well off the record high of $315,000 set in October 2024.
By the end of April, LVR reported 6,689 single-family homes listed for sale without any sort of offer. That’s up 7.7% from one year earlier. The 2,580 condos and townhomes listed without offers in April represent a 7.9% increase from one year earlier.
“Our LVR data shows that the local housing market is softening a bit, especially at lower price points,” said LVR President George Kypreos. “But when you look at the big picture, demand for homes here remains strong, and we could still use more homes to serve the steady stream of people moving to Southern Nevada. We still have fewer than 10,000 properties ready for sale. That’s not a lot in a community of about 2.5 million people.”
EN ESPAÑOL | Informe: Los precios y las ventas de viviendas en Las Vegas disminuyen en abril
LVR reported a total of 2,643 existing local homes, condos and townhomes sold in April. Compared to April 2025, sales were down 2.9% for homes and down 2.0% for condos and townhomes. The sales pace in April equates to local housing supply of about three and a half months. One year earlier, Southern Nevada had just over a three-month housing supply.
The sales pace so far this year has been similar to 2025, which marked the lowest annual sales total since 2007. Sales have seen peaks and valleys in recent years, generally declining since 2021, when LVR reported a record 50,010 total properties were sold.
In April, 75.3% of all existing local homes and 73.0% of all existing local condos and townhomes sold within 60 days. That’s down from one year earlier, when 81.1% of all homes and 75.1% of all condos and townhomes sold within 60 days.
During April, LVR found that 22.1% of all local property sales were cash transactions. That’s down from 23.2% one year earlier and well below the February 2013 cash buyer peak of 59.5%.
The number of distressed sales remains near historically low levels. LVR reported that short sales and foreclosures combined accounted for 1.0% of all existing local property sales in April. That compares to 0.7% one year ago.
The total value of local real estate transactions tracked through the MLS during April was more than $1.3 billion for homes and more than $159 million for condos, high-rise condos and townhomes. Compared to one year earlier, total sales values in April were down 0.8% for homes and down 5.6% for condos and townhomes.
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