“We could be facing years, not months, of fewer home sales,” the CEO of Redfin said.
Eli Segall
Reporter: Real estate
Email: esegall@reviewjournal.com
Phone: (702) 383-0342
X: @eli_segall
Eli Segall joined the Review-Journal in August 2016 after covering real estate and other business topics for four years at the Las Vegas Sun. He also worked for the Silicon Valley/San Jose Business Journal, The Associated Press and other news groups. Segall has a bachelor’s in political science from the University of Michigan and a master’s in journalism from the University of Maryland. His awards include 2017 Story of the Year from the Nevada Press Association.
America’s casino capital “used to be an affordable alternative to California,” but rising prices and a hot market have made it “less attractive” for new buyers, report says.
A recent deal at almost $6 million per-acre didn’t even come close to a sale up the street.
Spanning more than half the size of Summerlin, a sprawling ranch property in Northern Nevada has hit the market for $100 million.
Las Vegas rental rates are climbing faster than the national average, and Nevada faces a steep shortage of affordable units.
Las Vegas has seen numerous lucrative sales involving casinos, land and other sites mostly on or near the Strip that did not produce a dime in such revenue.
Blue Heron held a ceremonial groundbreaking for Shoreline, an 83-lot housing tract at Lake Las Vegas in Henderson.
Lily Funds founder Tom McManus sold 2 acres to a buyer who “requested to remain anonymous.”
Southern Nevada’s market overall “may be starting to calm down a bit.”
Some Amazon buildings in North Las Vegas all sold a year or so after they were built, and prices have skyrocketed.
The shuttered former home of Vickie’s Diner and White Cross Market is listed for $13 million.
The buyer, British businessman Simon Dolan, made headlines for challenging the U.K. government in court over the country’s pandemic lockdowns.
F1 owner Liberty Media purchased nearly 40 acres for a 50-lap Grand Prix in Las Vegas next year.
Despite Las Vegas’ rapid price gains, several other cities logged even higher growth.
Housing markets are prone to ups, downs and other shifts, especially in Las Vegas, and there’s no telling how long the current trends will last.