Market Updates · May 2026
Las Vegas Market Update: May 2026
By Matthew Gambill, Broker-Owner
This update covers Las Vegas data for May 2026. Report released .
The single-family median sales price in Las Vegas rose 3.4% in May 2026, to $490,000 from $473,875 in April (Las Vegas REALTORS, May 2026). That was 2.1% above May 2025. Single-family homes for sale without offers numbered 6,784, up 1.4% from April.
Sources: Las Vegas REALTORS, May 2026; Zillow Observed Rent Index; Shelter Realty, June 10, 2026.
Key Numbers
Figures for May 2026, compared with April 2026 and May 2025.
| Metric | May 2026 | April 2026 | May 2025 | Change from April | Change from a year earlier |
|---|---|---|---|---|---|
| Single-family median sales price | $490,000 | $473,875 | $480,000 | up 3.4% | up 2.1% |
| Single-family homes sold | 2,066 | 2,110 | 2,087 | down 2.1% | down 1.0% |
| Single-family new listings | 3,309 | 3,588 | 3,591 | down 7.8% | down 7.9% |
| Single-family homes for sale without offers | 6,784 | 6,689 | 6,646 | up 1.4% | up 2.1% |
| Single-family months of supply | 3.3 | 3.2 | 3.2 | up 3.6% | up 3.1% |
| Single-family homes sold within 30 days (share) | 58.2% | 56.8% | 61.3% | up 1.4 points | down 3.1 points |
| Condo and townhome median sales price | $295,000 | $290,000 | $307,000 | up 1.7% | down 3.9% |
| Condos and townhomes sold | 509 | 533 | 559 | down 4.5% | down 8.9% |
| Condo and townhome new listings | 951 | 1,027 | 1,103 | down 7.4% | down 13.8% |
| Condos and townhomes for sale without offers | 2,639 | 2,580 | 2,510 | up 2.3% | up 5.1% |
| Condo and townhome months of supply | 5.2 | 4.8 | 4.5 | up 7.1% | up 15.5% |
| Condos and townhomes sold within 30 days (share) | 47.2% | 49.2% | 54.9% | down 2.0 points | down 7.7 points |
| Zillow Observed Rent Index (asking rent) | $1,718 | $1,716 | $1,719 | up 0.1% | down 0.1% |
Sources: Las Vegas REALTORS, May 2026 (home sales rows); Zillow Observed Rent Index (rent row).
Single-Family Prices and Sales
Closings dipped 2.1% from April, to 2,066, and were down 1.0% from a year earlier (Las Vegas REALTORS, May 2026). New listings fell 7.8%, to 3,309. Of the single-family homes that closed, 58.2% sold within 30 days, up 1.4 points from April.
Condos and Townhomes
The condo and townhome median was $295,000, up 1.7% from April and down 3.9% from May 2025 (Las Vegas REALTORS, May 2026). Closings fell 4.5%, to 509.
Months of supply for condos and townhomes was 5.2, compared with 4.8 in April and 4.5 a year earlier. Inventory without offers was 2,639, up 5.1% from May 2025.
Single-Family Supply
Single-family months of supply was 3.3, against 3.2 in both April and May 2025. New listings were down 7.9% from a year earlier.
Rents, and What They Mean for Owners
Asking rents were close to flat. The Zillow Observed Rent Index for the Las Vegas metro was $1,718, up 0.1% from April and down 0.1% from May 2025, measured across all rental types. Shelter Realty's rental report put the May median for completed MLS leases, mostly houses and condos, at $2,050, based on Las Vegas REALTORS data.
For an owner comparing options, that puts a $2,050 median completed lease next to a $490,000 single-family median. Both are market-wide figures, and a single home can do better or worse.
Our Approach to Managing Rentals
The Property Management Firm is a broker-owned, Nevada-licensed brokerage. We primarily manage long-term residential rentals in Las Vegas, North Las Vegas and Henderson. We screen residents and handle the day-to-day work, and we check with you before larger repairs and before renewal terms are set. We hire professional photographers for all of our marketing photos. Get a Free Rental Analysis, and we'll reply within one business day.
Frequently Asked Questions
What was the median home price in Las Vegas in May 2026?
It was $490,000 for single-family homes, up 2.1% from a year earlier, according to Las Vegas REALTORS, May 2026. The condo and townhome median was $295,000.
How many homes sold in Las Vegas in May 2026?
According to Las Vegas REALTORS, May 2026, 2,066 single-family homes and 509 condos and townhomes closed.
What was the median rent in Las Vegas in May 2026?
Shelter Realty's rental report put the median completed MLS lease at $2,050. The Zillow Observed Rent Index for the metro was $1,718, down 0.1% from a year earlier.
How many months of supply did Las Vegas have in May 2026?
Single-family homes had 3.3 months of supply and condos and townhomes had 5.2, according to Las Vegas REALTORS, May 2026.
Do these numbers apply to my neighborhood?
Not directly. They're market-wide figures, and results for a single home can differ by neighborhood and by the home itself.
Sources
Las Vegas REALTORS, May 2026: home prices, sales, listings, inventory and months of supply
Zillow Observed Rent Index (ZORI), Las Vegas metro, smoothed and seasonally adjusted: asking rents
Shelter Realty, Monthly Las Vegas Rental Report (June 2026), June 10, 2026: median completed lease, from Las Vegas REALTORS data
Related Reading
About the Author
Matthew Gambill is a Broker-Owner of The Property Management Firm, a Nevada-licensed brokerage that primarily manages long-term residential rentals in Las Vegas, North Las Vegas and Henderson. Meet the brokers.
This is general market information, not financial or legal advice. Market-wide figures can be revised and won't match every home, so talk with a licensed professional about your own situation.
Based on information from the Greater Las Vegas Association of REALTORS® Multiple Listing Service for the period May 1, 2026 through May 31, 2026.
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