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If you’ve been wondering whether Las Vegas is a buyer’s market or a seller’s market right now, you’re not alone , it’s one of the most common questions in Las Vegas real estate heading into 2026. The honest answer is: it depends on your price range and neighborhood. But at a market-wide level, the data clearly shows Las Vegas is shifting toward buyers for the first time in years.
Here’s exactly what the numbers say, what it means for you, and how to use the current conditions to your advantage whether you’re buying or selling.
Buyer’s or Seller’s Market? The Short Answer
A market is generally considered a buyer’s market when there is more than 6 months of inventory, homes sit on the market longer, and sellers must compete for buyers. A seller’s market exists when inventory is below 3 months, homes sell quickly, and buyers compete against each other.
Las Vegas currently sits at approximately 5 months of supply , right in the transitional zone, but trending toward buyers. In many entry-level and mid-range price bands, conditions already favor buyers meaningfully.
- 5 months of inventory (up from 2.5 in 2022)
- 75–85 average days on market
- Seller concessions now standard
- Price reductions on ~40% of active listings
- 9,100+ homes to choose from
- Prices still near all-time highs at $470K
- Strong out-of-state demand continues
- Luxury segment ($750K+) remains competitive
- Population growth sustaining long-term demand
- Limited distressed inventory
What the Data Says: Key Market Indicators
To understand whether Las Vegas favors buyers or sellers right now, it helps to look at the three indicators that matter most: inventory, days on market, and price trends.
Inventory: 5 Months of Supply
Active listings have climbed to over 9,100 properties , up roughly 18% year-over-year. Five months of supply puts Las Vegas squarely in transitional territory. Anything above 6 months is a buyer’s market by definition; Las Vegas is close and trending in that direction. Two years ago, inventory sat at roughly 2.5 months , deeply in seller’s market territory.
Days on Market: 75–85 Days
Homes are taking significantly longer to sell than a year ago, when the average was 51–59 days. This extra time gives buyers the ability to conduct proper due diligence, negotiate repairs, and make thoughtful offers , luxuries that didn’t exist in 2021 and 2022 when homes were selling in days.
Price Trends: Modest Softening
The median single-family home price in Las Vegas is $470,000 , down about 3.1% from the November 2025 peak of $488,995. Prices have not collapsed, but the upward pressure has eased. Roughly 40% of active listings have seen at least one price reduction, which was virtually unheard of two years ago.
What This Means If You’re Buying in Las Vegas
For buyers, the current Las Vegas market is the most favorable in several years. Here’s how to take advantage of it.
You Can Negotiate , Use It
Sellers are increasingly willing to accept offers below asking price, contribute to closing costs, buy down your mortgage rate, and make repairs prior to closing. These concessions were nearly impossible to get in 2021–2022. Today they are common. A well-crafted offer with reasonable contingencies is not only acceptable , it’s expected.
Rate Buydowns Are a Powerful Tool
With mortgage rates still elevated, asking a seller to contribute toward a temporary or permanent rate buydown can meaningfully reduce your monthly payment. A 1–2 point rate reduction can save hundreds of dollars per month over the life of the loan. Many sellers are offering this proactively to attract qualified buyers.
Take Your Time
With 75–85 average days on market, you no longer need to waive inspections or make snap decisions. Use this window to inspect thoroughly, compare multiple properties, and get pre-approved so you’re ready to move when you find the right home.
Buyers relocating from California, Washington, Oregon, or other high-tax states have a compounding advantage: lower home prices, no Nevada state income tax, and a market where sellers are motivated. Many relocators are finding they can buy significantly more home in Las Vegas than they could sell for in their origin market.
What This Means If You’re Selling in Las Vegas
Selling in a transitional market requires a different strategy than selling in a hot market , but it absolutely can be done successfully.
Pricing Is Everything
The single biggest mistake sellers make right now is pricing above market. Overpriced homes are sitting for 90–120+ days and ultimately selling for less than they would have at the right price from day one. Buyers are doing their research. Price at or just below recent comparable sales to generate immediate interest.
Presentation Matters More Than Ever
When buyers have 9,100+ homes to choose from, yours needs to stand out. Professional photography, decluttered spaces, fresh paint, and minor repairs are not optional extras , they are table stakes. Turnkey homes in move-in condition are still selling at or near asking price. Homes that need work are sitting.
Be Ready to Offer Concessions
Closing cost credits, rate buydowns, home warranties, and repair allowances are now part of most successful transactions. Sellers who refuse all concessions are frequently watching their homes sit while comparable properties go under contract. Think of concessions as part of your pricing strategy, not a loss.
Frequently Asked Questions
Is Las Vegas currently a buyer’s market or seller’s market?
As of early 2026, Las Vegas is a transitional market leaning toward buyers. With approximately 5 months of inventory, 75–85 average days on market, and seller concessions becoming standard, buyers have more leverage than at any point since 2019. The luxury segment above $750K remains more competitive.
When did Las Vegas shift from a seller’s market?
The shift began gradually in mid-2023 as rising mortgage rates reduced buyer demand and inventory began to build. By late 2024 and into 2025, the market had meaningfully rebalanced. Early 2026 marks the clearest transition yet, with inventory levels approaching the 6-month threshold that formally defines a buyer’s market.
Will Las Vegas return to a seller’s market?
Most analysts expect the market to remain balanced through 2026, with a gradual return to moderate seller advantage if mortgage rates ease and population growth continues. A return to the extreme seller conditions of 2021–2022 is not anticipated in the near term.
What price ranges are buyer’s markets in Las Vegas right now?
The strongest buyer conditions exist in the $400K–$650K range, where inventory is most plentiful and days on market are highest. The entry-level market under $400K and the luxury market above $750K are somewhat more competitive, though both have softened compared to two years ago.
Should I wait to buy in Las Vegas until it’s more of a buyer’s market?
For most buyers, waiting is unlikely to improve your position significantly. Current conditions already offer meaningful leverage, and if mortgage rates decline later in 2026 , as many forecasters project , more buyers will re-enter the market, potentially increasing competition and pushing prices back up. Buying now while sellers are motivated may be the better strategic move.
How does Las Vegas compare to other markets right now?
Las Vegas has shifted more noticeably toward buyers than many other Sun Belt markets. Cities like Phoenix and Austin have seen similar inventory increases, while Florida markets remain mixed. Compared to coastal California markets, Las Vegas offers dramatically better affordability, more inventory, and significantly more negotiating room.
The Bottom Line
Las Vegas is not yet a full buyer’s market by textbook definition , but it is the closest it has been since before the pandemic. Buyers have real negotiating power, more homes to choose from, and sellers willing to make concessions that weren’t available two years ago.
For sellers, the market still works , but it rewards preparation, realistic pricing, and flexibility. The days of effortless sales are behind us for now, but well-positioned homes are still closing at strong values.
Whether you’re buying or selling in Las Vegas, understanding exactly where conditions stand in your specific price range and neighborhood is what separates a good outcome from a great one. That’s where working with a local expert makes all the difference.
Kristin Prough is a licensed Nevada real estate advisor with over 10 years of experience helping buyers and investors navigate the Las Vegas housing market. She specializes in market trend analysis, relocation strategy, and long-term investment planning in Southern Nevada.