News & Highlights Las Vegas Real Estate Market - Summer 2021

The Las Vegas real estate market has been a non-stop adventure this summer. Homes and condo prices have skyrocketed to highs unlike anything we've ever seen. The luxury home market in Las Vegas for new and existing homes is also increasing. We're seeing new builder homes, such as the new "Raider's Stadium" clone mansion by owner Mark Davis; and the record $32.5 million mansion for sale in Henderson's Ascaya community. In addition, rental prices are creeping out of reach for many, with a shortage of new inventory. Help is on the way, with several new rental developments in the works.

Here is the latest news and highlights for the Las Vegas real estate market up to August 2021:

• Las Vegas Home and Condo Prices
• Mark Davis Raider's Mansion
• $32.5 Million Henderson Mansion
• Rental Homes in North Las Vegas

Las Vegas Single-Family Homes Now Over $400,000!

There were 2,170 single-family homes sold in Las Vegas in August 2021. This was up 13%, from the same time in August 2020. The median sales price was $400,800, a 21.5% increase from August 2020. Sellers received an average 101.1% of the list price for homes they sold which have only sat on the market an average of just 15 days before selling. View all single-family homes for sale in Las Vegas

Median Prices for Las Vegas Condos $216,000

There were 650 condos & townhomes sold in Las Vegas in August 2021. This was up 30.8% from August 2020. The median sales price was $216,250 up 25.7% from August 2020. The average percent of list price received upon sale was 100.3%. Las Vegas condos have been remaining on the market an average of only 17 days before selling. There is currently about 1 month of available inventory for both Las Vegas homes and condos. View all condos for sale in Las Vegas

Real Estate Trifecta for Raiders Owner Mark Davis

Mark Davis, owner of the Las Vegas Raiders is embarking on a new home in Henderson's luxury Ascaya community. Coincidentally, this latest mansion is reminiscent of his other to projects, the Raider's stadium and practice facility. Luxury builder Blue Heron  was hired to design and construct this 3-story behemoth of over 15,000 square feet with a 5,422 square foot garage. Once completed, Davis will enjoy unobstructed views of the Raiders' stadium. Ascaya features over 300 homesites, this 6.3-acre parcel was purchased last summer for $6 million. View all luxury homesites in Henderson, NV

As reported in the Review Journal: Mark Davis’ mansion may look very familiar to Raiders fans

$32.5M Henderson Mansion Breaks Records

"It's time to downsize" says the owner of this $32.5 million mansion at 2738 Carina Way, Seven Hills, Henderson, NV. An architect's dream (or nightmare), this three-story home measures 14,207 square feet, four-bedrooms and nine bathrooms. There are three climate-controlled garages with space for up to 12 vehicles. This includes a car lift that delivers the vehicle right to the 2nd floor owner's suite. A custom glass elevator sits at the center of the estate, surrounded by such bells and whistles as a 13-seat movie theater, wine cellar, basketball court and rock-climbing wall. A nine-hole mini-golf course sits in front of the infinity pool with built-in bar and retractable TV. View complete listing here

The true star of this estate is the incredible use of smart home technology. There are 32 cameras and biometric scan entries, 13 integrated motorized door systems, cutting edge Crestron Pro technology, more than 20,000 square feet of heated indoor and outdoor tile flooring, high-fidelity music distribution and 32 video displays throughout the property featuring centralized 4K video distribution. Oh, and did we mention, some of the best views of the valley in the city.

Rental Homes Underway in North Las Vegas

Recently a developer out of Arizona, Avenue North, will be commencing construction of 165 rental houses in North Las Vegas. This is welcome news for a rental market that is starved for affordable listings. The neighborhood is slated to feature single-family homes with backyards but will also include a clubhouse, fitness center and pool, like a typical apartment complex.

An emerging trend, we're starting to see other developers in the area working on projects strictly for rental homes. One of the largest is by the Calida Group, with 450 homes in Henderson's Cadence community.

As reported in Review Journal: Newly Built Rental Houses coming to Las Vegas Valley