The Las Vegas high rise market had a stronger month in May 2026, especially compared to the slower stretch seen earlier this year. While some buyers are still cautious, higher-end activity picked up, and several major sales helped push prices higher. This Las Vegas high rise market update shows a market that is active, but still uneven depending on price point, building, and buyer motivation.
The median sales price for Las Vegas high rise condos reached $470,000 in May 2026. That is up 27.9% from last month and up 13.3% from last year, showing a noticeable jump in pricing. A big reason for this increase is that May was a strong month for higher-priced high rise sales, which can pull the median number upward.
The average sales price also moved higher, reaching $911,959. That is up 18.8% month over month and up 2.5% year over year. This number reflects the impact of several luxury sales, especially in the million-dollar-plus range.
Closed sales were also up. There were 58 closed sales in May, which is a 20.8% increase from last month and a 7.4% increase from last year. After a few slower months, this suggests that activity in the high rise condo market is finally picking up again.
Pending sales told a different story. There were 56 pending sales, down 21.1% from last month and down 17.6% from last year. This means the momentum from May may not fully carry into the next month. Inflation, oil prices, and general uncertainty are still affecting many buyers. Even though many high rise condos are purchased with cash, buyers in this segment can still be sensitive to market fluctuations.
New listings came in at 143 units, down 3.4% from last month but up slightly, 0.7% from last year. Inventory rose to 639 units, up 4.9% month over month and up 14.1% year over year, so buyers still have plenty of options.
Months of inventory reached 12 months, down 14.3% from last month but up 3.4% from last year. Days on market increased to 117 days, up 20.6% from last month and 25% from last year. For sellers, this means presentation, pricing, and marketing matter more than ever, especially when competing against similar floor plans in the same tower.
Luxury high rise activity was one of the biggest stories of the month. The highest-priced sale was an $11.8 million penthouse at Waldorf Astoria, which helped lift the overall pricing numbers. There were also several other major transactions, including a $3.2 million sale at The Martin, continuing the trend of strong high-end activity.
This shows that luxury buyers are still active in Las Vegas, even while the lower-priced market faces more pressure. Higher-end buyers often have more flexibility, more cash, and a stronger willingness to move when the right property becomes available. That is helping the luxury side of the market hold up better than some entry-level or mid-range segments.
Another development to watch is Four Seasons in Henderson. Construction is progressing, and there is still availability in the building. It stands out because it brings a unique luxury high rise option to Henderson, where this type of product is much less common than it is closer to the Strip.
Overall, the May numbers show that Las Vegas condos are not moving in one simple direction. Closed sales and prices improved, especially because of strong luxury activity, but pending sales dropped, inventory rose, and days on market increased. That creates a market where buyers have choices, but sellers still need to be strategic.
For anyone watching Las Vegas high rise trends, the key takeaway is that demand is still present, especially for standout luxury properties and well-positioned high rise condos. At the same time, the broader market remains sensitive to pricing, economic uncertainty, and buyer hesitation. The next few months will help show whether May was a true rebound or a strong month carried by luxury sales.
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