Nevada housing market data: median home price, year-over-year appreciation, inventory, months of supply, days on market, affordability, and what it means for
Nevada is currently a warm market. The median sale price sits near $461,000, up 2.1% from a year ago, with roughly 18,328 active listings and 3.1 months of supply. Homes are going under contract in about 40 days on average.
Nevada's median sale price of $461,000 is 9.9% above the $419,300 national median, which places it 15 of 51 states by price level. Year-over-year appreciation of 2.1% ranks 38 of 51, so Nevada is currently a middle-of-the-pack state relative to the rest of the country.
Inside the Southwest region, the median state price is $442,000, so Nevada runs 4.3% richer than its regional peers — the closest comparisons are Arizona at $442,000, New Mexico at $331,000. That gap matters for loan sizing: at the same rate, a Nevada file carries roughly $19,000 more balance than the regional median, which changes qualifying income and the value of a rate-and-term option.
Nevada statewide numbers hide real spread across its metros. This report tracks 2 Nevada metros: Las Vegas, NV ($471,000, +2.6% YoY); Reno, NV ($552,000, +1.9% YoY). Price a file off the metro your borrower is actually buying in, not the state average.
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Nevada is currently a warm market. The median sale price sits near $461,000, up 2.1% from a year ago, with roughly 18,328 active listings and 3.1 months of supply. Homes are going under contract in about 40 days on average.
Affordability remains the binding constraint. At the current national average 30-year fixed rate near 6.42%, the typical payment on a median-priced home in Nevada runs about $3,113 per month including taxes and insurance, against a median rent near $2,695. That gap is what determines whether purchase conversations in this market start with payment, with price, or with a buydown structure.
Supply is close to balance, with price reductions on about 19% of active listings. Builder incentives are limited, and permits are running near 20,134 annualized units.
For originators, the practical read is this: pre-approval speed and appraisal-gap strategy still win deals here, and Realtor partnerships should emphasize how fast you can turn a fully underwritten approval.
Nevada currently reads as a warm market with 3.1 months of supply. Balanced is generally considered four to six months, so this market is close to balance.
The median sale price is approximately $461,000 as of 7/24/2026, up 2.1% from a year earlier.
No. Median prices are up about 2.1% year over year, though the pace of appreciation has slowed considerably from the 2021 peak.
The typical down payment on a closed transaction is near $49,530, and the resulting payment at the current national average 30-year fixed rate is roughly $3,113 per month including taxes and insurance. Low-down-payment FHA, VA, and conventional 3% options can materially reduce the cash required.
Our directional 12-month range is +0.5% to +3.9% on median price. Confidence is moderate; the rate path is the dominant variable.
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