LAS VEGAS (FOX5) — The median price of existing single-family homes in Southern Nevada held steady at $490,000 in June, matching the all-time high set in May and up 1% from June 2025, according to a report released Tuesday by Las Vegas Realtors.
The median price of local condos and townhomes sold in June was $292,000, down 4.3% from June 2025 and below the record high of $315,000 set in October 2024.
LVR President George Kypreos attributed the sustained price levels to limited inventory and continued buyer demand.
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“Local home prices don’t always follow national trends, but they have been lately,” Kypreos said. “Much like what we’re seeing here in Southern Nevada, the median home price in the U.S. recently hit an all-time high. Prices are staying at this level in part because of our relatively tight housing supply and the strong demand for homes here.”
LVR reported a total of 2,823 existing local homes, condos and townhomes sold in June. Compared to June 2025, home sales were up 18.3% and condo and townhome sales were up 1.2%.
The sales pace in June equates to roughly three and a half months of local housing supply, slightly less than one year ago. LVR noted the sales pace so far in 2026 has been similar to 2025, which posted the lowest annual sales total since 2007.
By the end of June, 7,147 single-family homes were listed for sale without any offer, up 2.2% from one year earlier. The 2,690 condos and townhomes listed without offers represent a 4.9% increase from one year earlier.
Additional market indicators
- In June, 78.5% of existing local homes and 67.7% of condos and townhomes sold within 60 days, down from 82.8% and 72.8%, respectively, one year earlier.
- Cash transactions accounted for 23.2% of all local property sales in June, compared to 23.1% one year ago.
- Short sales and foreclosures combined accounted for 1.4% of all existing local property sales in June, compared to 0.8% one year ago.
- The total value of local real estate transactions tracked through the MLS in June exceeded $1.4 billion for homes and $184 million for condos, high-rise condos and townhomes — up 16.8% and 14.1%, respectively, from one year earlier.
LVR distributes statistics monthly 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.
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