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Valley Condo Sales Fall 24% as Prices Slide

October's 1,895 sales were down 11.9% from last year, with condo and townhome prices down 2.1%.

Updated on Nov. 6, 2026 in Residential

Gouache-painted editorial illustration of a low stucco townhome block on a pale desert ground under a wide dry sky, evoking a cooling local housing market.
Las Vegas Valley existing condo and townhome sales fell 23.6% in October from a year earlier as higher mortgage rates continued to weigh on buyers. AI Illustration. Upload story photo >

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Las Vegas homebuyers and sellers saw sales slide again in October 2026, with 1,895 existing homes, condos and townhomes sold in the month, down 11.9% from October 2025. The median existing single-family home price in Southern Nevada held at $475,000, while condo and townhome prices fell.

Why it matters

Higher mortgage interest rates are still weighing on the valley's housing market, and the local REALTORS president attributes the sales drop to the recent rise in rates. For anyone thinking about buying, selling or refinancing in Clark County, the rate picture is what is driving activity right now.

Sales of existing homes, condos and townhomes totaled 1,895 in October, a pace of nearly a six-month supply. The all-time high single-family median of $490,000 was set in May and June, and the condo and townhome record of $315,000 dates to October 2024. Cash buyers accounted for 26.2% of local property sales.

The players

Las Vegas REALTORS (LVR)

The local REALTORS organization that compiles and publishes monthly sales and price statistics for the Southern Nevada housing market.

The details

Las Vegas REALTORS reported on Friday, November 5, that home sales declined again in October, with 1,895 existing local homes, condos and townhomes sold, down 11.9% from October 2025. Condo and townhome sales fell 23.6% over the same period, and the median condo and townhome price was $279,000. The figures come from listings compiled through the group's Multiple Listing Service and do not include new construction sold by builders or homes sold by owners.

Timeline

  1. May and June 2026: all-time high single-family median price of $490,000 recorded.

  2. October 2026: sales declines and October median prices reported.

  3. Friday, November 5, 2026: LVR report released publicly.

Beyond the Strip

The condo and townhome median is now $36,000 below LVR's October 2024 record of $315,000. Single-family prices have held near their May and June all-time high of $490,000, so the valley's cooling is concentrated in attached housing.

If you are shopping for a condo or townhome in Summerlin or the Southwest, expect more room to negotiate on price than a year ago. If you have a single-family home to sell, the valley's near-six-month supply means listings may sit longer before they move.

The takeaway

Watch mortgage rates more than the monthly median, because the LVR president ties the sales slump directly to rate increases. A point-or-so drop in rates is the change he says would show up quickly in the numbers.

Further reading

For more on how the valley's market is moving, see Residential coverage across Las Vegas.

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