Market Updates · September 2026
What September's Numbers Mean for Las Vegas Owners and Investors
By Matthew Gambill, Broker-Owner · Last updated:
Prices were flat and supply kept building. The median single-family sales price was $470,000 in September, the same as a year earlier (Las Vegas REALTORS, September 2026 statistics). Rents were flat too. Shelter Realty puts the median completed lease at $2,000, $5 above last September. Leasing has slowed since summer. Below are the figures and what rental owners can do about pricing and preparation.
Sources: Las Vegas REALTORS, September 2026 statistics; Shelter Realty, October 15, 2026.
Key Numbers
Home sales reported for September 2026, compared with August 2026 and September 2025.
| Metric | Sept 2026 | Aug 2026 | Sept 2025 | Change from August | Change from a year earlier |
|---|---|---|---|---|---|
| Single-family median sales price | $470,000 | $475,000 | $470,000 | down 1.1% | no change |
| Single-family homes sold | 1,745 | 1,803 | 1,884 | down 3.2% | down 7.4% |
| Single-family new listings | 3,120 | 3,238 | 3,161 | down 3.6% | down 1.3% |
| Single-family homes for sale without offers | 7,995 | 7,590 | 7,502 | up 5.3% | up 6.6% |
| Single-family median asking price | $529,999 | $539,000 | $545,000 | down 1.7% | down 2.8% |
| Single-family months of supply | 4.6 | 4.2 | 4.0 | up 8.8% | up 15.1% |
| Single-family homes sold within 30 days (share) | 53.4% | 52.2% | 50.2% | up 1.2 points | up 3.2 points |
| Condo and townhome median sales price | $290,000 | $299,900 | $294,000 | down 3.3% | down 1.4% |
| Condos and townhomes sold | 424 | 449 | 485 | down 5.6% | down 12.6% |
| Condos and townhomes for sale without offers | 2,796 | 2,714 | 2,605 | up 3.0% | up 7.3% |
| Condo and townhome months of supply | 6.6 | 6.0 | 5.4 | up 9.1% | up 22.8% |
Source: Las Vegas REALTORS, September 2026 statistics.
What Happened to Las Vegas Home Prices in September?
They held steady. The median single-family sales price was $470,000, down 1.1% from August and unchanged from September 2025 (Las Vegas REALTORS, September 2026 statistics). Condos and townhomes slipped a little, to a median of $290,000, down 1.4% from a year earlier.
Fewer homes sold. Single-family closings fell 7.4% from a year earlier to 1,745 (Las Vegas REALTORS, September 2026 statistics). Condo and townhome closings fell 12.6% to 424. Asking prices are lower, too. The median asking price on active single-family listings was $529,999, 2.8% below last September.
Is Housing Supply Building?
Yes. There were 7,995 single-family homes for sale without offers in September, up 6.6% from a year earlier (Las Vegas REALTORS, September 2026 statistics). Months of supply rose from 4.0 to 4.6. Condos and townhomes reached 6.6 months, up from 5.4.
Many homes still sell quickly. Of the single-family homes that closed in September, 53.4% spent 30 days or less on the market, compared with 50.2% a year earlier (Las Vegas REALTORS, September 2026 statistics).
Buyers and investors have more homes to compare than a year ago, with more listings and softer asking prices. Sellers have more listings competing with theirs.
If you're deciding whether to sell a home or rent it out, our guide to moving away and choosing whether to rent or sell walks through the tradeoffs.
What Are Las Vegas Rents Doing?
They're flat. Shelter Realty's October 15 rental report, which summarizes Las Vegas REALTORS rental data, puts the median completed lease in September at $2,000. That's down $45 from August and $5 above September 2025.
Asking rents tell a similar story. Zillow's Las Vegas rental market trends page showed an average asking rent of $1,945 on October 15, with no change from a year earlier. Zillow's figure covers all property types, apartments included, so it isn't a direct match for houses.
Why Has Leasing Slowed Since Summer?
Rental supply has grown relative to leasing. Rice Real Estate & Property Management's October 1 report tracks single-family rentals on the MLS in Las Vegas and Henderson. By its count, months of rental supply rose from about 1.5 earlier this summer to about 2.1. Shelter's report shows completed leases fell 14.1% from July to August, then held about even in September.
Apartments are part of the picture. The Las Vegas Review-Journal reported that 51.7% of Las Vegas area apartment listings offered concessions in Zillow's June rental report, the highest share among the 50 largest metros. Some offered as much as eight weeks of free rent.
None of these figures predicts where rents go next.
What Should Rental Owners Do Right Now?
Price it right from day one. Set the rent at or just under what similar nearby homes have recently leased for.
Have the home rent-ready before it's listed. Finish the repairs and the cleaning first, so the first renters who walk through see a home they could move into this week.
Use professional photos. We hire professional photographers for all of our marketing and listing photos.
How Does TPMF Help Owners Lease in a Slower Market?
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. You follow statements and activity in the AppFolio Owner Portal, and we reply within one business day.
If you'd like a second look at your rent or your listing plan, request a Free Rental Analysis and we'll talk it through.
Frequently Asked Questions
Are Las Vegas home prices going down?
Not as of September. The median single-family sales price was $470,000, unchanged from September 2025, according to Las Vegas REALTORS, September 2026 statistics. The condo and townhome median was $290,000, down 1.4% from a year earlier.
Are rents going down in Las Vegas?
They're flat year over year. Shelter Realty's October 15 rental report puts September's median completed lease at $2,000, which is $5 above a year earlier and $45 below August.
Is it a good time to rent out my Las Vegas home?
It depends on your home and your plans. Rice Real Estate & Property Management's October 1 report shows months of single-family rental supply rising from about 1.5 earlier this summer to about 2.1, so renters have more homes to choose from.
How should I price my rental this fall?
Start at or just under the rent that similar nearby homes have recently leased for. Shelter Realty's October 15 rental report shows the median completed lease flat year over year, at $2,000 in September.
How common are apartment rent concessions in Las Vegas?
Common. The Las Vegas Review-Journal reported that 51.7% of Las Vegas area apartment listings offered concessions in Zillow's June rental report, the highest share among the 50 largest metros.
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, September 2026 statistics
Shelter Realty, monthly Las Vegas rental report, October 15, 2026
Zillow, Las Vegas rental market trends (viewed October 15, 2026)
Rice Real Estate & Property Management, Las Vegas rental market statistics, October 1, 2026
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 September 1, 2026 through September 30, 2026.
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