Las Vegas Real Estate Blog

Las Vegas Real Estate Stats & Why You Should Lock In Now!

The Las Vegas home and condo market was anything but dull this past October, showing solid gains over the same time last year. Here are some of the quick stats as reported from GLVAR (The Greater Las Vegas Association of Realtors).

Las Vegas Local Market Update for October 2016

Las Vegas Single Family Homes

Las Vegas Home sales in October were solid, just under 10% higher than 2015. Houses are moving quicker, only remaining on the market an average of 45 days, 21% faster than last year. The median sales price has also risen by 6.3%. Homes are priced realistically, receiving 98% of the asking price. The one area where we are challenged is inventory. In spite of the these positive increases, there are 28% less homes on the market

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Las Vegas Raiders StadiumFor those of you following the progress of the proposed Raiders Stadium in Las Vegas, it looks like it's almost a done deal. After a week of deliberation, Nevada Senate passed a deal that could clear the way.

The big hurdle was, of course, money. Everyone wanted the stadium, it would be great for Las Vegas, create hundreds of jobs and boost our tourism and convention industry, but with a $1.9 billion price tag, no one was jumping up to cover the cost. More specifically, a remaining $750 million that was proposed to be subsidized by public funding.

After the senate session last week, these were the terms that were agreed upon:

Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson will contribute $650 million

Raiders will kick in $500 million

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Thank you to these lucky September Las Vegas and Henderson home owners - it was a pleasure working with each and every one of you!

new Las Vegas buyers

Recent Sold Listings

MLS# 1806296 - $349,900: This spacious 2,664 sq.ft. home in Marvella sold in just 35 days for 100% of the asking price.

MLS# 1818787 - $305,000: An immaculate 4-bedroom Henderson home in Coronado Ranch is walking distance to Coronado High School. It didn't last last long, only 10 days on the market and sold for 98% of the asking price.

MLS# 1613286 - $275,000: This lovely open floor, single story home in Valley West sold for 98% of the asking price after 144 days on the market.

MLS# 1595411 - $189,000: The buyer of this town home in Stallion Mountain will enjoy a bevy of

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Las Vegas - Key Market Stats for August 2016

 

Las Vegas Sales Climb from 2015

Total home and condo sales and median prices were up from August of 2015.

  • Total  Las Vegas Home Sales $835,260,015 - up 11.6%
  • Total Las Vegas Condo Sales: $86,139,841 - up 15%
  • Median Home Price: $235,000 - up 6.8% from August 2015
  • Median Condo Price: $115,000 - up 4.5% from August 2015

Inventory

The number of Homes, Condos & Townhomes Sold: 3,789 homes, condos & townhomes - in August 2015 3,454

Although sold inventory increased by 10%, we still need homes. There is less than a three-month supply of properties for sale, a six month supply reflects a balanced market. the number of single family homes listed in August was 13,222 - a decline of 2.8% from the same time last year. The big

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Summerlin Fall Events 2016

There's always something going on in Summerlin. Bookmark this handy guide for fall events near you.

 
October 6-8

Pumpkin Patch

  • Time: 3:00 - 7:00 pm Thursday & Friday
  • 9 am - 12 pm Saturday
  • Address: The Vistas Community Center- 11312 Parkside Way, Las Vegas, Nevada 89138
October 8-9

Summer Festival of Arts

  • Time: 10:00 am - 5:00 pm
  • Address: Downtown Summerlin - 1980 Festival Plaza Drive, Las Vegas 89135, Las Vegas, Nevada, 89135
  • Free outdoor festival of arts, entertainment and culinary creations. More than 100 celebrated fine artists and craftspeople, full entertainment line-up, and scrumptious offerings from Downtown Summerlin restaurants.
October 7
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Oakland Raiders Las Vegas stadium renderingLooks like momentum is gathering for the Oakland Raiders to possibly make the move to Las Vegas in what could become the second big pro sports franchise for the gambling capital of the world.

While it’s still a long way off and nothing is finalized, the wheels are certainly in motion for the Raiders to join the NHL expansion franchise (which is still to be named) as Vegas’ two major sports teams. So far, the Raiders have applied to the U.S. Patent & Trademark Office to trademark the “Las Vegas Raiders” name. Also too, applications have been made for other items and merchandise for naming rights of the franchise in Vegas.

Raiders owner Mark Davis had originally planned on moving the Raiders from Oakland to Los Angeles, but the NFL denied the

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Las Vegas Riviera Hotel in 1955

After 60 years, the last remnants of the Riviera Hotel and Casino Towers were put to rest. The implosion took place at 2:30 a.m. on Tuesday, August 16. The crowd of spectators were scrambling to to capture the footage as there was very little notice of the actual demolition moment. The Riviera dates back to 1955 and will go down in history, captured in several Hollywood movies including Ocean's 11, Hangover and the latest Jason Bourne.

The purpose of the demolition? To expand the booming Las Vegas Convention Center.

View the Fox news video of the Riviera Tower implosion:

Video - Las Vegas Riviera Implosion of Casino Towers

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When it seems like all you hear are negative reports in the news, it's a refreshing change to read something positive. Kudos to Henderson couple, Brian and Jenny Bland, founders of Goodness Gracious Ministries who are trying to make a difference in the community. After months of renovations, they have converted an old food truck and given it a new purpose - to provide meals for the homeless and less fortunate.

Three years ago, this Henderson couple quit their full time jobs to devote their time to helping the homeless. Working out of various locations in Las Vegas Valley, the Blands prepare a healthy breakfast for people in the area. Armed with several volunteers they fill a plate with items such as pancakes, eggs, fruit and a bagel, for many this is

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Las Vegas Property Prices and Sales NumbersThe local report from the Greater Las Vegas Association of Realtors show Las Vegas property prices and sales for residential real estate in southern Nevada remained steady. That’s more good news for both sellers and buyers as activity continues to be brisk during the typical busy summer months.

 The GLVAR reported the median home price for properties sold via the Multiple Listing Service (MLS) was $211,250; an 8.3% increase from 12 months ago when the price was $195,000. Townhomes and condominiums sold for an average of $112,000, representing a 9.8% increase from last May.

 The one word I can use to describe the southern Nevada real estate market over the past year or so is steady. We had a real surge in sales for March and April then a leveling off

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North Las Vegas Homes for Sale with Swimming PoolsYour own private oasis in the desert awaits at 3304 Brayton Mist Dr North Las Vegas 89081. From the moment you step foot on the property you’ll notice the quality construction and move-in readiness of this 1,876 square foot two-story home in Shadow Springs. You’ll love the exterior as you enter the back yard and take in the in-ground pool surrounded by upgraded tile. Whether you are entertaining guests or simply enjoying the water with a cool drink and a book, this home offers an excellent quality of life for just $185,000. The covered patio provides plenty of functional outdoor space and protection from the sun. You’ll spend plenty of evenings outside grilling up your favorite foods or watching the kids splash in the water.

North Las Vegas Home with

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