11/07/2026
OCTOBER 2026 MARKET SNAPSHOT
NEED TO KNOW:
Local home prices held steady while sales declined again in October as higher mortgage interest rates continued to be a drag on the housing market.
LOOK AT THESE MEDIANS:
The median price of an existing single-family home was $475,000 in October. That’s up 0.1% from October 2025 and down from the all-time high of $490,000 set in May and June.
The median sales price for condos and townhomes was $279,900, down 2.1% from a year ago and well below the record $315,000 set in October 2024.
IN CONTEXT:
“We’re seeing the impact of the recent rise in mortgage rates. I suspect these statistics would look a lot different if rates went back down by a percentage point or so. The demand for homes in Southern Nevada is still strong.” (George Kypreos, LVR President)
2026 SALES:
Compared to October 2025, sales were
Down 11.9% for homes
Down 23.6% for condos and townhomes.
COMPARISONS:
The sales pace so far this year has been similar to 2025, which posted 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.
INVENTORY:
The sales pace in October equates to a housing supply of six months. A year ago, inventory was at just over four-and-a-half months.
8,112 single-family homes were listed for sale without any sort of offer in October, up 7.6% from one year earlier.
2,837 condos and townhomes were listed without offers in October, a 6.7% increase from one year earlier.
TWO MORE STATS:
The total value of local real estate transactions during October was nearly $1 billion for homes and nearly $116 million for condos, high-rise condos and townhomes.
Compared to one year earlier, total sales values in October were down 10.1% for homes and down 22.5% for condos and townhomes.
