Current Las Vegas Market Individual Charts
Current Las Vegas Market Report
Market Overview – The Sluggish Start to 2026
The Greater Las Vegas real estate market in continues to stall somewhat in the first quarter of 2026. Closed units are 9.4% behind 2025 while sales volume is down only 4%. The luxury market definitely pushed both the median and average sales prices higher in February due to a continued robust luxury market.
- the Median price of SFR improved from $470,000 to $481,110.
- the Average price an SFR closing jumped from $618,762 to $644,246.
The luxury market led the Februery closings with 169 closings above $1 Million, including 23 above $3 Million.
Overall, the residential market sits at 5.3 months of residential inventory due to the large number of listing that went under contract in February. Pendings increased by roughtly 500 over what was pending in January. In turn, the Over Pricing Index dropped to 50%. Yet, nearly 25% of all available listings have been on the market for at least 120 without going into escrow.
However, some of the larger market story lies in the new chart above. Cash and conventional financing have both been trending lower since mid-2021, with only FHA financing improving greatly during the same timeframe. However, there was an uptick in cash sales and VA financed closings in February.
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