Las Vegas, NV Housing Market
AI-powered market intelligence for the Las Vegas-Henderson-North Las Vegas, NV metro area.
PropertyIQ Scores
Las Vegas, NV Market Analysis
Market Overview
Las Vegas, NV has a PropertyIQ Score of 12 out of 100, which places the market in a weak position relative to the scoring model’s benchmarks. The score’s top drivers include a 12-month home value momentum of -0.83% and a 3-month home value momentum of -1.02%, both indicating that home prices are edging downward. The median days on market is 57 days, and 23.7% of listings have a price cut, which reinforces a picture of cooling demand. The median home value is $429,591, below the Nevada state average of $447,473. That gives Las Vegas a relative price advantage, but the negative momentum and slower selling conditions weigh heavily on the overall score.
Compared with state averages, Las Vegas shows mixed fundamentals. The rent index of $1,747 is above the state average of $1,489, which is a positive for rental demand. However, the median household income of $73,845 is below the state average of $75,561, and the unemployment rate of 5.2% is slightly above the state average of 5.1%. The year-over-year home value change is $-1. There are 10,562 homes for sale. Population growth data was not provided, so that component cannot be evaluated.
Key Trends
The first trend is negative price momentum. The median home value is $429,591, with a year-over-year change of $-1. The 12-month momentum of -0.83% and the 3-month momentum of -1.02% show that prices have been slipping, with the shorter-term decline slightly steeper. This suggests recent weakness rather than a sharp crash.
A second trend is slower sales activity. The median days on market is 57 days, meaning homes are taking about two months to sell. In addition, 23.7% of listings have a price cut. This share indicates that many sellers are adjusting prices downward to attract buyers, consistent with the negative momentum and a low PropertyIQ Score.
A third trend is a mixed affordability and income profile. Las Vegas has a median home value below the state average of $447,473, which may help buyers. But the median household income of $73,845 is also below the state average of $75,561. At the same time, the rent index of $1,747 is well above the state average of $1,489. That means rents are comparatively high while local incomes are slightly lower than the state norm.
A fourth trend is elevated supply. There are 10,562 homes for sale. Combined with a median days on market of 57 days and a 23.7% price-cut share, this inventory level points to a market where buyers have more choices and sellers face more competition. No state benchmark for homes for sale was provided, so the inventory figure is considered in absolute terms.
Who Is This Market For
This market may suit patient buyers and rental-focused investors who can accept weak price momentum. First-time buyers may see some relative opportunity because the median home value of $429,591 is below the state average of $447,473. However, the median household income of $73,845 is also below the state average, and the unemployment rate of 5.2% is slightly above the state level, which may limit purchasing power for some households.
Rental-focused investors may find the rent index of $1,747 appealing because it is above the state average of $1,489. With 23.7% of listings showing price cuts and negative 3-month and 12-month price momentum, investors may be able to negotiate better purchase prices. The return case would likely depend more on rental income than on near-term price appreciation, given the PropertyIQ Score of 12/100 and negative momentum.
Move-up buyers may face a more difficult environment. Because home values are declining on a 3-month and 12-month basis, existing owners may sell for less than they would have previously. With 10,562 homes for sale and a median days on market of 57 days, selling a current home could take longer and require a price reduction. This dynamic favors buyers overall but creates friction for those who need to sell before buying.
Outlook
The data supports a cautious outlook for Las Vegas. The PropertyIQ Score of 12/100, the 12-month home value momentum of -0.83%, and the 3-month momentum of -1.02% indicate that prices are not currently gaining traction. The median days on market of 57 days and the 23.7% share of listings with a price cut suggest that sellers will likely continue to face competition from a large supply of 10,562 homes for sale. The rent index of $1,747 above the state average may provide some support for rental demand, but the unemployment rate of 5.2% and median household income of $73,845 below the state average of $75,561 do not point to a clear demand surge. Population growth data was not provided, so demographic tailwinds cannot be assessed. Unless price momentum improves or inventory tightens, the numbers describe a soft, buyer-favorable market in the near term.
AI-generated analysis based on current market data. Last updated August 17, 2026.
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Las Vegas, NV market data
Las Vegas, NV Housing Market Overview
Las Vegas, NV's median home value is $430K, down 0.8% over the past year. Homes here sell in a median 57 days. Its PropertyIQ Score of 12 sits below the state average of 50, marking a market positioned to lag its state over the next three years.
Whether you're considering buying a home, investing in rental property, or weighing entry timing in the Las Vegas, NV area, the PropertyIQ Score gives you a single, data-first read on relative market strength. It is validated against actual market outcomes from 2001 to 2023, with a positive score-to-return relationship in every validated year across NV and every other US state.
Mountain West markets combine outdoor lifestyle appeal with booming tech and remote-work migration. Cities across Colorado, Utah, Arizona, and Nevada have experienced some of the nation's fastest appreciation, though rising interest rates have introduced new dynamics to these previously red-hot markets. Within the Mountain West, Las Vegas, NV's PropertyIQ Score of 12 runs below the Mountain West norm.
For the Las Vegas, NV market, PropertyIQ calculates a single score each month from four inputs: twelve-month Zillow home-value momentum, three-month Zillow home-value momentum, median days on market from Realtor.com, and the Realtor.com price-reduced share. The score is computed nationally across all metros and calibrated so 50 equals the state average. Across the validation history, metro markets in the top score band have outperformed their state by roughly 1.7 percentage points more per year than bottom-band markets. Momentum here has been negative, with home values down 0.8% over the past year.
View Las Vegas, NV's complete market profile including historical price trends, score history, and AI-generated analysis. Compare this market against any other US metro to find the best opportunities for your investment strategy.
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Market data through July 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Las Vegas, NV a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Las Vegas, NV currently scores 12, a very weak-momentum reading that leaves it positioned to lag its state over the next three years. For buyers, cooling demand usually brings more inventory, longer sale times, and real leverage to negotiate on price. Backing that up, the median home value here is $430K, down 0.8% over the past year. So whether Las Vegas, NV is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Las Vegas, NV?
Las Vegas, NV's PropertyIQ Score is 12, indicating very weak momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 12 places Las Vegas, NV below its state benchmark.
Are home prices in Las Vegas, NV rising or falling?
Home prices in Las Vegas, NV are falling. Over the past year, the median home value declined 0.8%, reaching $430K. Over the latest three months, values slipped 1.0%, a sign near-term demand is softening. PropertyIQ derives these figures from Zillow's home-value index, which tracks the typical value across the market rather than only the homes that happened to sell, giving a steadier read than a raw median sale price. Both the 12-month and 3-month momentum readings feed directly into the PropertyIQ Score, so this price trend is one of the core signals behind Las Vegas, NV's current score. Keep in mind that appreciation can vary widely by neighborhood and price tier across the metro area, so treat these figures as the market-wide baseline rather than a guarantee for any single property.
How quickly do homes sell in Las Vegas, NV?
In Las Vegas, NV, homes sell in a median of 57 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 24% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Las Vegas, NV market data is refreshed on a monthly cycle, with the latest figures current through July 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.