Las Vegas Housing Market Update – February 2026
More Inventory, Lower Prices, and Buyers Finally Moving Again?
If you’ve been wondering what’s really happening in the Las Vegas housing market right now… this is your clarity.
January numbers are officially in, and they tell a very interesting story.
We’re seeing more inventory.
More listings hitting the market.
More escrows opening.
But also — slower closings and softer year-over-year pricing.
So what does that mean for you?
Let’s break it down.
(And if you prefer to hear me walk through the data step-by-step, you can watch the full February Market Update video below.)
📦 Inventory Is Up — And That Changes the Conversation
We’re currently sitting at 8,401 homes available across Las Vegas, Henderson, and North Las Vegas.
That’s:
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🔺 Up 2% month over month
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🔺 Up nearly 22% year over year
Months of supply has risen to 5.57 months overall, which firmly places us in a balanced-to-slightly buyer-leaning market.
Single-family homes are averaging 4.39 months of supply, while condos and townhomes are sitting closer to 6.74 months.
Homes are also taking longer to sell — 58 days on market on average, up significantly from last year.
Translation?
Buyers have options.
Sellers need strategy.
🔥 Buyer Activity Is Picking Up — Quietly
Coming out of the holidays, activity surged.
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Over 4,100 new listings hit the market in January.
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New escrows nearly tripled compared to December.
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Under contract numbers jumped more than 47% month over month.
Buyers are not asleep.
They’re selective.
They’re negotiating.
But they’re stepping forward.
Closings were down — which is expected since those properties went under contract during the slower holiday period. That lag effect is normal.
The real story is what’s building now as we head into spring.
💰 Prices: Softer Year Over Year, Slightly Up Month Over Month
The median sales price in January:
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🏠 Single-family: $474,000
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🏢 Condos/Townhomes: $285,000
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📊 Overall: $379,500
Month over month, prices ticked up modestly.
But year over year, single-family and condo prices are down about 3%.
That matters.
Interest rates are averaging around 6.25% nationally, which is lower than this time last year when rates were closer to 7%.
Combine slightly lower prices with slightly lower rates… and affordability has improved.
In fact, for many buyers, that’s roughly $350 per month in savings compared to last year.
The headlines saying homes are becoming more affordable?
For once… they’re not exaggerating.
A Reality Check for Sellers
We ended 2024 with a median sales price of $480,000.
We ended 2025 at $470,000.
That’s a little over a 2% dip in overall equity.
If you purchased after 2022 and need to sell, there may not be a lot of room for error in pricing.
This is why having the “how long do I plan to live in this home?” conversation during your buyer strategy session is so critical.
Real estate remains one of the strongest long-term wealth builders — but timing and planning matter.
The good news?
Well-priced homes are selling.
Savvy buyers are engaging.
And sellers who understand the market are getting deals done.
What I Expect Moving Into Spring
Interest rates are projected to drift down slightly — but not dramatically.
If rates ease even a little while inventory stabilizes heading into spring and summer, we could see home prices tick up again.
This isn’t a crash.
And it’s not 2021 either.
It’s a strategic market.
One that rewards preparation.
🎥 Watch the Full February Market Update
In my full February 2026 Las Vegas Housing Market Update, I break down:
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The detailed supply and demand numbers
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What months of inventory really means
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Why buyer activity is slower than last year despite lower rates
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What this means for your home equity
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And how to position yourself correctly if you’re buying or selling in 2026
👉 Watch the full video here:
If you’d like a personalized breakdown of your home’s value or your buying power in today’s market, reach out.
Because real estate is hyper-local and your strategy should be too.
