Median price of Las Vegas home rises 8.1 percent, report saysLas Vegas Review-Journal | Eli Segall
Las Vegas’ outer edges may have the most home construction and the highest prices. But if you’re looking for the fastest-rising values, look closer to the core.
The biggest jumps in median resale prices last year tended to be in older, more centrally located areas of the valley, according to a new report from Applied Analysis’ residential research arm, SalesTraq.View Full Article »
The cheapest and most expensive homes sold in Las Vegas in 2016Las Vegas Review-Journal | Eli Segall
Sitting on “billionaire’s row,” the megamansion features a Zen garden inside, a gym, elevators, a movie theater and even a nightclub. And last year, it fetched the highest price ever for a Las Vegas house.
Another home, east of the Strip, is a small one-bedroom condo that faced foreclosure during the recession. It’s been spruced up but was the cheapest sale in the valley in 2016, trading for the price of a subcompact car.
There were about 47,000 sales of previously owned homes in the Las Vegas Valley last year, with a median price of $199,900, according to Applied Analysis’ residential research arm, SalesTraq. But which properties sold at the extreme ends of this range?View Full Article »
Forecasting Las Vegas' future, from new roads to pro sportsLas Vegas Sun | Sun Staff
The new year always invites future-gazing, but after the presidential election and its aftermath, 2017 is especially hard to peg. So we’re focusing on our corner of the world — this valley of more than 2 million souls — and widening the scope to the next five years, and all of the aspirations and conflicts that will take shape.View Full Article »
Land prices skyrocketLas Vegas Business Press | Buck Wargo
Homebuilders looking for land to construct high-end homes are driving up prices in the valley, which during the second quarter reached the highest level in eight years.
Research firm Applied Analysis reported that during the second quarter that ended in June the valley’s vacant land market reached its greatest average price per acre since 2008. The $367,947 per acre or $8.45 per square foot price was reached despite there being no resort transactions during the second quarter. Those are deals at higher price points that tend to skew the average.
Overall, land prices during the second quarter rose 16.3 percent from the first quarter and rose 10.9 percent from the second quarter of 2015, Applied Analysis reported.View Full Article »
Strengthening economy drags home prices with it, for nowLas Vegas Business Press | Jeffery Meehan
A strengthening local economy has been helping push improvements in Las Vegas’ single-family home market, while the past troubles of the recession continue to dilute the local sector.
The local job market has come a long way in the past several years, though the Clark County unemployment rate of 6.8 percent in June still lagged behind the national rate of 4.5 percent, as reported by the U.S. Bureau of Labor Statistics. But this pales in comparison to the peak local rate of about 14 percent in 2010.
Improvement in the overall economy increases the number of potential homebuyers, as more dollars become available for buyers to qualify for loans, experts said.View Full Article »
Tule Springs housing development ready to take off in North Las VegasLas Vegas Review-Journal | Alexander S. Corey
A housing development that got sidetracked by the recession is back on track.
The Villages at Tule Springs — the largest housing development in North Las Vegas since the start of the recession — has its first three builders lined up.
KB Home and Pardee Homes have development agreements to build in the Village Three section of the master plan while CalAtlantic Homes already owns parcels there.View Full Article »
Summerlin ranked fourth in U.S. for home salesLas Vegas Business Press | Buck Wargo
Summerlin, a 22,500-acre master-planned community in northwestern Las Vegas, finished fourth nationwide for home and lot sales during the first six months of 2016, reported RCLCO, a housing consultant surveying master plans nationwide
The 366 sales in Summerlin so far this year are up 12 percent from the 327 sales through the same period a year earlier.
Summerlin wasn’t in the top 10 from 2008 to 2012 amid the recession. It was 25th as recently as 2011 and reached 12th in 2012. In 2015, it ranked No. 6 with 602 sales. That was up 37.8 percent from 437 sales in 2014.View Full Article »