Las Vegas Home Sales Plunge! February 2026

Las Vegas Home Sales Plunge! February 2026

Welcome to the February 2026 issue of our monthly market update for Southern Nevada. In this issue we will be going over January 2026 numbers.

📉 Home sales took a major plunge in January, dropping nearly 20% compared to the previous month. However, the median home price remained flat from December, showing that prices are holding steady even while buyer activity slowed down.

🏡 Inventory is shifting too…
The number of homes listed without offers has been decreasing for the last couple of months, but we also saw a noticeable influx of new listings hit the market in January.

So, what does all of this mean?

🔥 Is the Las Vegas housing market finally cooling off?
📊 Where is the market heading for 2026?
💰 And is now still a great time to buy before we hit the Spring selling season?

We’ll also cover:
✅ Why buyers may still have an advantage right now
✅ How you can score deals like lower purchase prices and seller-paid closing costs
✅ The latest builder incentives for February 2026
✅ And of course… 🎲 Who won last month’s bets between Rob & Ang?!

📍If you’re thinking about buying or selling in Las Vegas in 2026, you don’t want to miss this LIVE update!

MARKET TRENDS

There were 1,445 single-family houses that sold in January which is down 19.8% from the previous month and down 8.4% from prior year.

January 2026 – 1,445 Closings

January 2025 – 1,578 Closings

January 2024 – 1,479 Closings

January 2023 – 1,325 Closings

January 2022 – 2,561 Closings

January 2021 – 2,638 Closings

The median sales price of previously owned single-family homes, remained the same at $470,000, which is flat from the previous month, but down 3.1% from the prior year. 

January 2026, the median price of previously owned single-family homes was at $470,000.

January 2025, the median price of previously owned single-family homes was at $485,000.

January 2024, the median price of previously owned single-family homes was at $445,000.

January 2023, the median price of previously owned single-family homes was at $425,000.

January 2022, the median price of previously owned single-family homes was at $435,000.

January 2021, the median price of previously owned single-family homes was at $345,000.

CONDOS

The median sales price of condos and townhomes for January went from $275,000 to $283,750, making it $8,750 increase in median price or up 3.2% from the previous month, but down 3.2% from the prior year.

January 2026, the median price of condos and townhomes was at $283,750.

January 2025, the median price of condos and townhomes was at $293,000.

January 2024, the median price of condos and townhomes was at $275,000.
January 2023, the median price of condos and townhomes was at $255,000.
January 2022, the median price of condos and townhomes was at $243,000.

January 2021, the median price of condos and townhomes was at $193,000.

LUXURY MARKET

There were 134 luxury homes that sold in January for $1 million and over, compared to December’s 147 homes, 13 home decrease.

The median sales price in the Luxury Market for January decreased to $1,425,000 and in December that number was $1,449,950. A $24,9500 decrease in the median sales price.

MARKET TRENDS

So, for January we had a total of 3,149 new listings, which is up 66.7% from the prior month and up .6% from the prior year.

January 2026 – 3,149 new listings

January 2025 – 3,130 new listings

January 2024 – 2,432 new listings

January 2023 – 2,477 new listings

January 2022 – 2,900 new listings

January 2021 – 2,835 new listings

There were also a total number of 6,190 single-family houses listed without offers in January which is down 3.2% from the previous month, but up 18.7% from the prior year.

January 2026 – 6,190 listed without offers

January 2025 – 5,215 listed without offers

January 2024 – 3,551 listed without offers

January 2023 – 5,450 listed without offers

January 2022 – 1,821 listed without offers

January 2021 – 2,315 listed without offers

MARKET TRENDS

Which brings us to the housing supply in Southern Nevada, last month we are at 4.3 months of inventory on the market, the previous month was 3.5, which is up 20.7% from previous month and up 29.6% from the prior year.

January 2026 – 4.3 months of supply

January 2025 – 3.3 months of supply

January 2024 – 2.4 months of supply

January 2023 – 4.1 months of supply

January 2022 – .7 months of supply

January 2021 – .9 months of supply

41.8% of the closings for the month January was on the market 30 days or less, in December this number was at 45.4% and in January 2025, 47% of the homes were on the market 30 days or less.

FORECLOSURES

REO – 58 in December that number was 27 = 31 REO increase

Short Sale – 82 in December that number was 37 = 47 Short Sale Increase

Foreclosure Commenced – 41 in December that number was 26 = 15 Foreclosure Commenced Increase

Total amount of distressed properties including foreclosure being commenced – 181 in December that number was 93 = 88 increase from the prior month

NEW CONSTRUCTION

Builders pulled 9,734 new-home permits last year in Southern Nevada, down 20% from 2024, and closed 9,990 home sales, which is also down 20% from the prior year.

NEW BUILDER INCENTIVES – February 2026

Century Communities

Century Communities is having their YES! LIVES HERE. SALES Event. Enjoy up to $70,000 in total incentives! Which could be used towards home price reduction, closing costs, and/or rate buydowns on select homes across the Las Vegas Valley when financing with Century Communities affiliate lender, Inspire Home Loans. Must go under contract from now until 3/3/2026.

Lennar Homes

Lennar Homes is having their SUPER DEALS EVENT.  Take Advantage of a Promotional Conventional FHA Loan Program with a Temporary Buy down. Get 3.75% interest rate for the first year of and then 4.75% interest rate from years 2-30. Plus get up to $6,000 towards closing costs. Must use

Offers available when you sign a purchase agreement on a select move-in ready home in the greater Las Vegas area between now and 02/08/25 and close by 02/21/25. 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. Must go under contract from now until 2/16/25 and close on or before 3/31/25

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.

Taylor Morrison

Taylor Morrison is having their YOUR HOME, YOUR WAY EVENT. 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 with Temporary Buydown – Get 2.99% interest rate year 1, 3.99% interest rate year 2 and 4.99% interest rate from years 3-30. Must go under contract by 2/9/26 and close by 2/28/26.
2. Conventional 30-Year 7/6 Adjustable Arm Rate Mortgage – Get 3.75% interest rate the first 7 years and at year 8 your rate will adjust annually based on market changes. Must go under contract by 2/9/26 and close on or before 3/31/26.
3. Conventional 30-Year Fixed Rate – Get 4.25% fixed interest rate on new home contracts entered from now until 2/9/26 and close on or before 3/31/26.

Toll Brothers

For a limited time on select quick move-in homes, Toll Brothers Mortgage Company is offering exclusive 2/1 Buydown Program on a 30-year fixed mortgage. This 2/1 Buydown program is only available on homes that close by 3/31/26, so take advantage of this great rate now.

For the 1st year get 3.375% interest rate, 2nd year get 4.375% interest rate and from years 3-30 get 5.375% interest rate.

ROB & ANG BETS – February 2026

MEDIAN SALES PRICE

Rob said $3,800 decrease*

Ang said $5,000 decrease

Damian said $4,000 decrease

Actual # Remained Flat

ROB won this!

WITHOUT OFFERS

Rob said 6,700

Ang said 6,500

Damian said $6,600

Actual # $6,190

ANG won this one!

MONTHS OF SUPPLY

Rob said 3.8 months

Ang said 3.7 months

Damian said 3.6 months

Actual # 4.3 months

ROB 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