Townhomes Were a Record 26.5 Percent of Las Vegas New-Home Sales, and Top Sellers Start Around $333,000

by Ryan Rose

What Happened

The Review-Journal's new homes section looked at how townhomes have grown in the Las Vegas new-home market, using figures from Home Builders Research, a local firm that tracks new-home sales. Attached homes, which are mostly townhomes, hit a record 26.5 percent of new-home sales in 2025.

Here is how that share has grown over time:

2015: 5 percent of new-home sales
2018: 12 percent
2023: 24.8 percent
2025: 26.5 percent, a record
2026 through July: 24.9 percent, a rare dip

The top-selling community proves the point. D.R. Horton's Heartland Trails, a gated townhome community in North Las Vegas, was the No. 1 selling new-home community in the valley in 2026 through June, with 100 sales. Builder-quoted prices run from about $332,990 to $349,990 for homes of 1,309 to 1,410 square feet.

Other builders are in the game, too. Tri Pointe has four townhome communities in the valley, priced from the $300,000s to the $500,000s, according to the report. The article pointed to examples in North Las Vegas, including the Villages at Tule Springs area, and in the southwest valley.

One important note: all of these prices are builder-quoted starting points. They can change at any time, and the final price depends on the floor plan, lot and any upgrades or incentives.

Why It Matters to Las Vegas Residents

For first-time buyers, this trend is the main story in new construction. A brand-new single-family home in most parts of the valley costs well above $400,000. A new townhome can start in the low $300,000s. That gap can decide whether a family buys this year or keeps renting.

Let's put real numbers on it. At the 7.40 percent average 30-year rate Freddie Mac reported on Oct. 15, a $332,990 townhome with 20 percent down works out to about $1,844 a month in principal and interest. With 3.5 percent down, it is about $2,225 a month. Compare that with the $470,000 median single-family resale home: about $2,603 a month with 20 percent down. These are our own estimates using those prices and that rate. They do not include taxes, insurance or HOA dues, and HOA dues are a real cost with most townhomes.

The math also works for builders. According to the report, builders can fit 12 to 18 townhomes on an acre of land, compared with about five single-family homes. Land in the Las Vegas Valley is limited, and much of it is federally owned. When land is expensive, spreading the cost over three times as many homes is one of the few ways to keep prices down.

There is a resale side, too. Las Vegas REALTORS reported that the median price of an existing condo or townhome in Southern Nevada was $290,000 in September 2026. Condo and townhome sales were down 12.6 percent from a year earlier. So buyers have choices: a newer townhome from a builder, often with a warranty and incentives, or an older resale townhome that may cost less up front but need more work.

The Payment Math Side by Side

Here is how the monthly principal and interest compares across four price points at the 7.40 percent rate Freddie Mac reported on Oct. 15. These are our own estimates on a 30-year fixed loan. They leave out taxes, insurance and HOA dues, so your real payment will be higher.

$290,000 resale condo or townhome (September median): about $1,606 a month with 20 percent down, or about $1,938 with 3.5 percent down
$332,990 new townhome (Heartland Trails starting price): about $1,844 with 20 percent down, or about $2,225 with 3.5 percent down
$349,990 new townhome (top of the Heartland Trails range): about $1,939 with 20 percent down, or about $2,338 with 3.5 percent down
$470,000 resale single-family home (September median): about $2,603 with 20 percent down, or about $3,140 with 3.5 percent down

The gap between a new townhome and the median single-family home is roughly $750 to $900 a month in principal and interest, depending on the down payment. Over a year, that is about $9,000 to $11,000. For many first-time buyers, that difference is the whole ballgame.

Townhome vs. Single-Family: The Real Tradeoffs

Price is the headline, but it is not the only difference. If you are weighing a new townhome against a single-family home, here is how they usually compare.

Price per square foot. At Heartland Trails, the builder-quoted range works out to about $248 to $254 per square foot. That is our own division of the quoted prices by the quoted sizes. It is a useful yardstick when you compare floor plans across communities, because a bigger home with a higher price can still be the better value per square foot.

Space. The top-selling plans run 1,309 to 1,410 square feet. That can be plenty for a single person, a couple or a small family. It may feel tight for a larger household that needs a home office, a guest room and a lot of storage.

Yard and privacy. Townhomes share at least one wall with a neighbor. Yards are usually small, and some plans have only a patio. If you have a big dog, want a garden or love a quiet backyard, a single-family home may be worth the higher price.

Maintenance. With many townhome communities, the HOA handles some outside upkeep, such as landscaping in common areas. That saves time, but you pay for it through dues. Ask each builder exactly what the HOA covers, because it varies from one community to the next.

Monthly cost. The mortgage payment is lower on a townhome, but HOA dues can narrow the gap. Always compare the full monthly number: principal, interest, taxes, insurance and HOA dues together.

Resale. Townhomes appeal to a wide group of buyers, including first-time buyers and people who want to downsize. That can help when it is time to sell. On the other hand, a new townhome community may have many similar homes for sale at the same time, so a resale may compete with the builder's own new homes for a while.

Background and History

For most of Las Vegas history, the dream was a detached house with a yard. Townhomes were a small slice of the new-home market. As recently as 2015, attached homes were just 5 percent of new-home sales.

That changed as prices rose. Land got more expensive, building costs went up, and then mortgage rates climbed. Builders responded by building smaller homes on smaller lots, and more of them started building townhomes. By 2018, attached homes were 12 percent of new sales. By 2023, they were nearly a quarter. In 2025, they set a record.

This year's slight dip to 24.9 percent through July is worth noting, but it is still close to the record. One soft year does not undo a ten-year trend. Townhomes are now a normal part of how the valley grows, and you can see it in nearly every new master plan.

The trend reaches well beyond the suburbs. This week, Lennar broke ground on The Foundry, a downtown Las Vegas community of more than 1,000 townhomes and single-family homes at the old Cashman Center site, with prices planned to start in the $300,000 range. We have also covered stalled townhomes that came back from $380,000 and new townhomes in Lake Las Vegas. From downtown to the edges of the valley, the attached home has become the entry point.

Who Is Buying These Townhomes

The Review-Journal framed townhomes as a tool to address affordable housing, and the buyers they serve fit that picture. The clearest group is first-time buyers. With the Las Vegas REALTORS single-family median at $470,000, a townhome starting near $333,000 is about $137,000 less. That difference can mean a smaller down payment, a lower monthly payment and an easier path to qualifying for a loan.

Townhomes also appeal to people at the other end of the journey. Empty nesters and retirees who no longer want a big yard sometimes trade down to a newer, smaller home with less upkeep. And for anyone moving to Las Vegas from a higher-cost state, a new townhome in the $300,000s can feel like a bargain compared with what the same money buys back home.

Location plays a role, too. Many new townhome communities sit at the edges of the valley, in North Las Vegas and the southwest, where there is still land to build on. That can mean longer commutes for some buyers, so it is worth driving the route to work at rush hour before you sign a contract.

What Happens Next

The big thing to watch is mortgage rates. Fannie Mae's October forecast calls for the 30-year rate to average 7.5 percent in 2027. If that holds, monthly payments will stay high, and lower-priced townhomes should stay in demand. If rates fall, some buyers may move back toward single-family homes, which could keep the townhome share from climbing.

Also watch the land supply. Builders keep turning to townhomes because land is tight and costly. Projects like The Foundry, where home construction is set to begin in October 2027, show that cities are also looking at old public sites and infill land for entry-priced housing. More of these projects could keep the townhome share high for years.

Finally, watch builder incentives. In a slower market, builders often offer rate buydowns or closing cost help to keep sales moving. Those deals change month to month, so the best price in a community today may not be the best price next month.

Ryan's Take

I talk to first-time buyers every week who assume new construction is out of reach. Then we look at townhomes, and the conversation changes. A new townhome in the low $300,000s, with a builder warranty and maybe an incentive, can be a smart first step. You build equity, you get a newer home with lower maintenance, and you can move up later. That is how a lot of my clients have started.

But a townhome is not right for everyone. You share walls. Yards are small or nonexistent. HOA dues are almost always part of the deal, and they need to fit your budget along with the mortgage. I always tell buyers to compare the full monthly cost, not just the price. And remember that a builder's sales agent works for the builder. Having your own agent on a new-construction purchase gives you someone in your corner on price, upgrades and the contract.

What You Can Do

If you are thinking about buying a new townhome, start with your budget. Get pre-approved so you know your real price range and monthly payment. Ask each builder for the HOA dues, the property tax estimate and any current incentives in writing.

Next, tour more than one community. Compare floor plans, garage space, location and commute times. Ask how many homes are left in each phase and when they will be ready. A townhome that is finished and ready to close can sometimes come with better incentives than one that has not been built yet.

Here are some questions worth asking at every townhome sales office:

What are the monthly HOA dues, and what do they cover?
Which incentives are available right now, and do they depend on using the builder's lender?
What comes standard, and what counts as an upgrade?
How long is the builder's warranty, and what does it cover?
When is the estimated move-in date for this home?

Finally, compare new to resale. With the resale condo and townhome median at $290,000 and sales slower than last year, there may be good deals on existing townhomes too. Looking at both sides helps you see which one gives you the most home for your money.