Is the Las Vegas Housing Market Finally Cooling Off? May 2026

Is the Las Vegas Housing Market Finally Cooling Off? May 2026

🏡📉 Is the Las Vegas Housing Market finally starting to cool off? Join Rob & Ang LIVE as we break down the April 2026 Las Vegas Housing Market numbers and what they could mean for buyers and sellers moving forward! 🎲🌴

This month, the median price of single-family homes dropped from $480,000 in March to $473,875 in April — a $6,125 decrease 📉. Home sales also slowed down, decreasing 7.8% from the previous month, while inventory and new listings continue to climb. Homes are sitting longer, more properties are listed without offers, and sellers may finally be feeling some fatigue. 👀

So, what’s really happening?

🔥 Is the market correcting itself?
🔥 Is this spring selling season weaker than years past?
🔥 Are buyers finally gaining more negotiating power?

If you’re thinking about buying, this could still be an incredible opportunity to score a lower price, seller-paid closing costs, and even builder incentives! 🏠💰 We’ll also cover all the latest NEW CONSTRUCTION builder incentives for May 2026 and let you know which builders are offering the best deals right now. 🚧✨

And of course… find out who won last month’s bets between Rob & Ang 😂🏆

MARKET TRENDS

There were 2,110 single-family houses that sold in April which is down 7.8% from the previous month and down 2.9% from prior year.

April 2026 – 2,110 Closings

April 2025 – 2,174 Closings

April 2024 – 2,339 Closings

April 2023 – 1,962 Closings

April 2022 – 3,001 Closings

April 2021 – 3,528 Closings

The median sales price of previously owned single-family homes, went from $480,000 to $473,875, a $6,125 decrease in median price, which is down 1.3% from the previous month and down 1.3% from the prior year. 

April 2026, the median price of previously owned single-family homes was at $473,875.

April 2025, the median price of previously owned single-family homes was at $480,000.

April 2024, the median price of previously owned single-family homes was at $469,000.

April 2023, the median price of previously owned single-family homes was at $430,000.

April 2022, the median price of previously owned single-family homes was at $475,000.

April 2021, the median price of previously owned single-family homes was at $375,000.

CONDOS

The median sales price of condos and townhomes for March went from $295,000 to $290,000, a $5,000 decrease in median price, which is down 1.7% from the previous month and down 4.2% from the prior year.

April 2026, the median price of condos and townhomes was at $290,000.

April 2025, the median price of condos and townhomes was at $302,700.

April 2024, the median price of condos and townhomes was at $290,000.
April 2023, the median price of condos and townhomes was at $270,000.
April 2022, the median price of condos and townhomes was at $275,000.

April 2021, the median price of condos and townhomes was at $202,450.

SIDE NOTE

The all-time high median home sale price for single family homes in Southern Nevada was broken multiple times last year, and currently sits at $488,995 which was last set in November 2025, while the condo and townhome market has dropped substantially from an all-time high that was set in October of 2024 ($315,000) to $275,000 to end 2025.

LUXURY MARKET

There were 157 luxury homes that sold in April for $1 million and over, compared to March’s 193 homes, 36 home decrease.

The median sales price in the Luxury Market for April increased to $1,425,000 and in March that number was $1,400,000. A $25,000 increase in the median sales price.

MARKET TRENDS

So, for April we had a total of 3,588 new listings, which is up 6.6% from the prior month, but down 2% from the prior year.

 April 2026 – 3,588 new listings

April 2025 – 3,663 new listings

April 2024 – 2,874 new listings

April 2023 – 2,451 new listings

April 2022 – 3,667 new listings

April 2021 – 3,699 new listings

There were also a total number of 6,689 single-family houses listed without offers in April which is up 3.6% from the previous month and up 7.7% from the prior year.

April 2026 – 6,689 listed without offers

April 2025 – 6,213 listed without offers

April 2024 – 3,476 listed without offers

April 2023 – 3,737 listed without offers

April 2022 – 2,441 listed without offers

April 2021 – 1,827 listed without offers

MARKET TRENDS

Which brings us to the housing supply in Southern Nevada, last month we are at 3.2 months of inventory on the market, the previous month was 2.8, which is up 12.3% from previous month and up 10.9% from the prior year.

April 2026 – 3.2 months of supply

April 2025 – 2.9 months of supply

April 2024 – 1.5 months of supply

April 2023 – 1.9 months of supply

April 2022 – .8 months of supply

April 2021 – .5 months of supply

56.8% of the closings for the month April was on the market 30 days or less, in March this number was at 54.5% and in April 2025, 60.3% of the homes were on the market 30 days or less.

FORECLOSURES – May 2026

REO – 56 and last month it was 57 = 1 decrease

Short Sale – 87, last month was 86 = 1 increase

Foreclosure Commenced – 44, last month was 47 = 3 decrease

Total amount of distressed properties including foreclosure being commenced – 187, last month was 190 = 3 decrease from the prior month

NEW BUILDER INCENTIVES – May 2026

Century Communities

Century Communities is having their LOCK IN YOUR YES Event.

1. For FHA & VA loans get a 30-year 5/1 Arm Loan at 3.375% interest rate for the first 5 years, for years 6-30 the interest rate may vary.
2. For Conventional loans gets 30-year 7/6 Arm Loan at 3.875% interest rate for the first 7 years, for years 8-30 the interest rate may vary.
3. Or get a 30-year fixed Rate Loan at 4.875% interest rate.

Plus $3,000 towards closing costs on select Century Communities when you use their affiliated lender, Inspire Home Loans. Must go under contract from now until 5/17/2026 and close on or before 5/29/26.

Lennar Homes

Take Advantage of a Promotional Conventional 7/6 ARM Rate, get 2.99% interest rate for the first year and then 3.99% interest rate for years 2-7, then starting year 8 the interest rate will adjust every 6 months based on the index changes. Plus get up to $6,000 towards closing costs.

Offers available when you sign a purchase agreement on a select move-in ready home in the greater Las Vegas area between now until 5/10/26 and close by 5/29/26. Offers require financing through Lennar Mortgage, LLC.

Richmond American Homes

Richmond American is having their START SMART Event on their Move-In ready Home, where you can pick your savings in the Las Vegas Area and finance through Home American Mortgage Corp.

1. 2 to 1 Buy Down offer on special 30-year fixed Conventional Financing. Get 2.99% interest rate for the first year, 3.99% interest rate for year 2, and 4.99% interest rate for years 3-30.
2. FHA 5/1 Adjustable Arm Rate Mortgage – Get 3.75% interest rate for 5 years with a max of 8.75% interest rate at year 6.
3. Conventional 7/6 Adjustable Arm Rate Mortgage – Get 3.99% interest rate for 7 years with a max of 8.75% interest rate at year 8.

Must go under contract from now until 5/10/26 and close on or before 6/30/26.

Taylor Morrison

Taylor Morrison is having SPECIALS on select move-in ready homes. In order to take advantage of these savings you will need to use their affiliated lender, Taylor Morrison Home Funding.

1. Conventional 30-Year Fixed Rate – Get 4.99% fixed interest rate on new home contracts entered from now until 5/31/26 and close on or before 6/30/26.
2. Conventional 7/6 Adjustable Arm Rate Mortgage – Get 3.75% interest rate for the first 7 years, starting in year 8, the rate will adjust every 6 months based on index changes. Must go under contract from now until 5/31/26 and close on or before 6/30/26.

Toll Brothers

For a limited time on select quick move-in homes, Toll Brothers Mortgage Company is offering exclusive 30-Year Fixed Rate with 2/1 Buydown program.

For the 1st year get 3.99% interest rate, 2nd year get 4.995% interest rate and from years 3-30 get 5.99% interest rate. Must go under contract on select quick move-in ready homes and close on or before 6/30/26.

ROB & ANG BETS – May 2026

MEDIAN SALES PRICE

Rob said Flat

Ang said $2,000 increase *

Damian said $1,000 increase

Actual # $6,125 decrese

ROB won this!

WITHOUT OFFERS

Rob said 6,700

Ang said 6,600

Damian said 6,400

Actual # 6,689

TIE won this one!

MONTHS OF SUPPLY

Rob said 3.1 months

Ang said 3.0 months

Damian said 3.2 months

Actual # 3.2

DAMIAN won this one!

If you’re considering buying or selling a home in the Las Vegas Valley, please don’t hesitate to reach out to me. I’ll get back to you personally and promptly. Thanks for visiting!

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Angela O’Hare
Favorite Las Vegas Realtor
REAL Broker LLC at Urban Nest
Lic. #180246
702-370-5112
[email protected]
www.neighborhoodsinlasvegas.com