Browsing Posts From: Uncategorized

Las Vegas high-rise update

March 4, 2021 Posted by: Millie Fine

The high-rise market has been flat, stable over the course of the pandemic. That is opposed to the free-standing home, condo and townhome market which has shown increases in prices and decreases in inventory over the last year. There is approximately an 8 1/2 month inventory of high-rise properties for sale, at the current rate of sale. That is about average for over the last few years. The median selling price per square foot as of March, 2021 for sales over the last 6 months, was $321.00. That is a […]

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Las Vegas age restricted update

February 19, 2021 Posted by: Millie Fine

There are 3 new age restricted options coming online in the Las Vegas area in the next few months. Trilogy Sunstone is a Shea Homes development building in the northwest Las Vegas Valley. 930 homes will be built. Heritage at Stoneridge is another new project, built by Lennar in Summerlin. 421 homes to be built. Home sizes for these communities will range from 1,232 to 2,872 sq. ft. Terra Bella in Anthem will build an additional 167 mid-rise condos.  Original builder went bankrupt several years ago. Sizes should range from […]

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Las Vegas Market Update

July 11, 2020 Posted by: Millie Fine

The effects of the COVID-19 pandemic on Las Vegas Real Estate have been substantial, but not catastrophic, at this point in time. The figures below reflect all property types in all areas serviced by the Greater Las Vegas Association of Realtors. Closed sales, comparing May 2019 to May 2020 were down some 48%. Comparing June to June, they were down 18.5%. Some improvement there. Listings, comparing June 2019 to June 2020, were down 33% Supply of homes for sale has decreased substantially. June 2019 we had a 4 month supply. […]

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Las Vegas Real Estate Coronavirus Update –

May 11, 2020 Posted by: Millie Fine

Sales of  resale homes, as well as listings in April were down around 30% from the previous month. New home contracts written, were down 50% from the previous month. We currently have a 4 month inventory of free-standing homes, at the current rate of properties going under contract. The inventory for condos and townhomes is at 5.6 months. High-rise properties have an incredible 33 month inventory, again given the number of listings and the rate of sale. Only 16 high-rise properties went under contract in April. Looking at age restricted […]

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Las Vegas Real Estate in the age of Covid-19.

April 14, 2020 Posted by: Millie Fine

Las Vegas is a factory town, perhaps the last factory town in the country.  The industry is the resort complex with the associated gambling, shopping, entertainment and dinning.  It depends on patrons having discretionary income.  It also depends on a lack of social distancing.  Social distancing is fatal to this economy.  The local real estate market will be heavily impacted by the coronavirus pandemic. The best I can do at this point is give you an update on current market activity.  By that I mean activity since April 1.  March […]

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Del Webb Lake Las Vegas

April 1, 2019 Posted by: Millie Fine

PulteGroup will be developing a new age restricted community in Lake Las Vegas. 400 home will be built on 120 acres. It should have typical Del Webb amenities, proportional to the size of the community. The homes should range in size from 1,500 to 2,800 sq. ft. It is scheduled for opening Fall, 2019. I have no other specific information at this time. This community has not been announced by PulteGroup yet, but this information comes from three reliable sources. This is relatively big news, in that Del Webb and […]

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2018 Las Vegas Real Estate Wrap-up – Forecast for 2019

January 10, 2019 Posted by: Millie Fine

  The Las Vegas real estate market continued to accelerate through April, 2018 with price increases that exceeded any other metropolitan area nationally.  From May on, however, the market has been relatively flat.  New home construction increased. Approximately 10,000 homes were built in 2018.  That figure is high relative to the past few years.  Keep in mind though, that at its peak in 2006, over 35,000 homes were built. Also keep in mind that prices are really nowhere near the actual prices at the peak of this market, in July […]

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Las Vegas age restricted, 55+ report – May 2018

May 28, 2018 Posted by: Millie Fine

Monthly, I review the sales and inventory situation for most all of the many age restricted communities in the Las Vegas area. I have been somewhat surprised with what has happened over particularly the last few months. Along with reviewing pricing in the existing communities, I will try to give some insight into the respective pricing of the communities selling new. One factor, overall, in explaining the strong showing of many of the existing communities is price and affordability. Some of the older and more affordable communities have shown the […]

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Las Vegas Disposal Boundary – Are we running out of land?

February 21, 2018 Posted by: Millie Fine

Land available for development in and around the Las Vegas valley is limited. Prospective clients sometimes express a desire to live outside the greater metropolitan area. I suggest that they consider Las Vegas and the few surrounding areas of privately held land as “islands” in a “great sea” of government held land. The great majority of land surrounding the Las Vegas area is government owned. The Las Vegas disposal boundary is, in fact, a congressionally designated boundary outside of which, no conventional development can occur.  We here, inside the Las […]

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2017 Las Vegas real estate wrap-up

January 17, 2018 Posted by: Millie Fine

2017 was a strong year for real estate inside the Las Vegas valley, in all categories.  Free-standing home prices were up approximately 11% from the previous year.  Condos and townhomes are way up, over 20%. High-rise condos were flat, up around 2.6%. New residential construction is up, with around a 35% increase in building over the previous year. One of the biggest real estate stories for the year, apart from the strong market, was the closings of several golf courses throughout the valley and the subsequent impact on real estate […]

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Recent Articles

Las Vegas high-rise update

March 4, 2021 Posted by: Millie Fine

The high-rise market has been flat, stable over the course of the pandemic. That is opposed to the free-standing home, condo and townhome market which... Read More

Posted In: Uncategorized

Las Vegas age restricted update

February 19, 2021 Posted by: Millie Fine

There are 3 new age restricted options coming online in the Las Vegas area in the next few months. Trilogy Sunstone is a Shea Homes development buildi... Read More

Posted In: Uncategorized

Las Vegas Market Update

July 11, 2020 Posted by: Millie Fine

The effects of the COVID-19 pandemic on Las Vegas Real Estate have been substantial, but not catastrophic, at this point in time. The figures below re... Read More

Posted In: Uncategorized