We pulled every Las Vegas, Henderson and North Las Vegas short sale on the MLS that was active, under contract or sold between January 2024 and October 2026. That came to 511 homes. Then we went through the listing history on each one to see when the owner bought, what they paid, and what happened to the house after the sale.
The numbers at a glance
245 short sales closed since January 2024, and 266 more are active or under contract today.
Closings doubled in spring 2026: 42 in the second quarter, the most of any quarter in this data.
115 of the sellers bought in 2022. Only 7 bought in 2021.
The median short sale closed at 100% of its final list price and 96.8% of its original list price.
36% of buyers paid cash, and 26 of these homes have already been renovated and resold.
2011 vs. today
In 2011, about 11,900 short sales closed in the Las Vegas MLS, close to 1,000 a month. In 2024 there were 90. Short sales are rising again, and they’re still about 1% of the 2011 pace.
Short sales closed: 2011 vs. todayClosed short sales per year, Las Vegas MLS
* 2026 through October 11. 2011 count covers the full Las Vegas MLS, mostly the valley plus Pahrump and outlying areas. 2024 to 2026 counts cover Las Vegas, Henderson and North Las Vegas. 2011 had about 130 times as many short sales as 2024.
Most of today’s short sale sellers bought between 2022 and 2025, near the top of the market. If that’s you, you’re part of a small group, and most of these gaps run tens of thousands of dollars. That leaves room to catch up, sell close to break-even, or work out a short sale with a lender that has seen very few of them.
Short sales are picking up again
Through 2024 and 2025, closings mostly ran between 12 and 22 a quarter, apart from a spike in spring 2024. In 2026 they jumped, and townhomes and condos made up a bigger share over the summer.
Short sale closings per quarterLas Vegas, Henderson and North Las Vegas, January 2024 through September 2026
Closings ran flat through 2024 and 2025, apart from spring 2024, then roughly doubled in spring 2026.
Most of these owners bought at the 2022 peak
Las Vegas prices peaked in mid-2022. Very few owners who bought in 2021 show up here, because prices kept rising after they bought. Owners who bought in 2022 make up the biggest group. A surprising number bought in 2023 and 2024 and are already underwater.
When today's short sale sellers bought352 homes with an earlier MLS sale on record, by year of that purchase
Homes bought new from a builder or off-market have no MLS sale on record and are not counted here.
Here is each of those homes on one chart. Every dot below the line is an owner selling for less than they paid, before commissions, title and escrow.
Bought at the top, selling below itEach dot is one short sale home bought since 2019. Above the line, the price is higher than what the owner paid. Below it, lower.
247 of the 291 owners who bought in 2021 or later are selling for less than they paid, before 6% to 8% in selling costs. Owners who bought before 2020 mostly have gains on paper; they likely owe more because of a refinance or second loan.
Today’s gap is tens of thousands of dollars
In 2010, Las Vegas short sales routinely came in $200,000 under the loan. Owners who bought in 2021 or later are selling for a median of about 7% to 9% below what they paid, or roughly $30,000 on a typical house. Add 7% to 8% in selling costs and missed payments, and the shortfall is real but much smaller than last time. Condos are the exception, selling a median 16% below purchase price.
That smaller gap means more options. Many owners in this range can catch up, get a modification, or sell close to break-even. Run your own numbers before you decide anything.
How long it takes
A short sale takes about five months from listing to closing. Most of the wait comes after you accept an offer, while the lender reviews it, and that wait has grown every year.
How long a short sale takesMedian days in each stage, for short sales that closed in each year
* 2026 through October 11. Lender approval is taking about four weeks longer than it did in 2024.
Sale price versus list price
Short sales close at their final list price because the lender has already signed off on that number. The discount happens earlier, through price cuts. Deep discounts were common in 2024 and are rare in 2026, and fewer buyers are paying cash.
Fewer bargains, fewer cash buyersShare of each year's closed short sales
* 2026 through October 11. Median sale price is 100% of the final list price in every year; the discount comes from price cuts before the sale.
Where the investors went
When a short sale sells well under list to a cash buyer, the house usually comes right back on the market after a renovation. Homes bought with a loan almost never do.
Which short sales came back on the marketShare of closed short sales that were listed for sale again after closing
Cash buyers and deep discounts point to investors. Homes bought with a loan were almost always kept, likely by people who moved in.
What happened to the short sales investors bought26 short sales that were bought, put back on the market and resold since January 2024
Median difference: $132,500, a median 122 days after the short sale closed. That is before renovation, holding and selling costs.
Some of that difference paid for the renovation. The rest is the discount the buyer got.
We talk through your situation for free, confidentially, with no pressure to sell. Call or text Jeff at 702-510-9625 or Lee Ann at 702-205-9430.
How we put this together
Source: an MLS export of short sale listings in Las Vegas, Henderson and North Las Vegas with status dates from January 2024 through October 11, 2026, plus the MLS listing history for each home. The export covered listings that were active, under contract or sold, so short sales that expired or were withdrawn aren’t counted. “Bought” means the most recent MLS sale before the short sale listing. Homes bought new from a builder or off-market don’t have one. The MLS doesn’t record the original loan type, so these numbers can’t show how many sellers used FHA or low down payment loans.
Based on information from the Las Vegas REALTORS® MLS for January 2024 through October 11, 2026. Information is deemed reliable but not guaranteed. This page is general information, not legal or tax advice. Jeff Mix, Nevada license S.0074457. Lee Ann Mix, Nevada license BS.0143453. The Mix Group at Realty ONE Group.
