08/07/2026
We at www.HomesForSale.Vegas continue to stay on top of the residential real estate market in Las Vegas. Our goal is to keep our clients educated so they can make better decisions. This month's housing statistics show continued divergence between the single-family home and the condominium market. Elevated interest rates have slowed the overall demand. That plus the seasonal decline in demand produced reduced sales from June, from 2302 homes sold in June to 2046 homes sold in July. The reduced demand is reflected in the median sales price reducing from a record $490,000 in June to $480,000 in July. The median sales price has floated around the $485,000 mark for over a year. As we predicted, this shows a relatively stable single-family housing market, with typical seasonal fluctuations. We don't see anything that would change this for the near term.
Condominiums continue to show the effects of an aging inventory. For a first-time homebuyer, a condo is a great way to begin building wealth through real estate ownership. The median price declined from $292,000 in June to $290,000 in July. Inventory has increased to a 5-month supply. To compare, 2 years ago there was a 2.4-month inventory. There are deals to be had in the condo market for the savvy buyer.
Whether you are buying or selling, it's critical to understand the dynamics of the market you are in. Call us today at 702-750-7599 for a consultation.
