Southern Nevada home builders “continue to operate at full capacity, selling everything they release,” says a new report.
Housing
After building and then selling two upscale apartment complexes near the Strip, developer Jonathan Fore is set to construct another one.
The 8,684-square-foot house and nearly 1-acre lot next door were listed Feb. 9 for $7.5 million and apparently went under contract with a buyer on Feb. 18.
Fremont9 was developed through a partnership between The Wolff Co. and Tony Hsieh’s side venture DTP Companies.
The luxury house, which spans about 11,000 square feet and was priced at $13.5 million, is under contract to sell, according to its listing on Zillow.
Southern Nevada house prices in December were up 25.5 percent from a year earlier, compared to 18.8 percent nationally.
In the 50 largest U.S. metro areas, median rent rose 19.3% from December 2020 to December 2021, according to a Realtor.com analysis of properties with two or fewer bedrooms.
Fueled by cheap money, Las Vegas is in a prolonged homebuying boom.
Southern Nevada’s fast-rising house prices set another all-time high in January, as last year’s hot streak carried over to the new year.
The rock star’s 11,000-square-foot house is priced at $13.5 million and features a courtyard entrance, floor-to-ceiling windows, a commercial elevator and direct views of the Strip.
The Federal Reserve has signaled it’s getting ready to raise interest rates in March. While this could impact mortgage rates, experts say it’s difficult to predict if they’ll steadily rise throughout the year.
Southern Nevada home prices were up 25.7 percent year over year in November, compared with an 18.8 percent gain nationally.
Last year’s sales tally was the highest since 2006 during Las Vegas’ wild, yet doomed, real estate bubble.
Solar panels have become normalized among landscapes, spotted everywhere from the open spaces of deserts to rooflines of dense residential areas.
The last day to play golf at Royal Links, an 18-hole course along Vegas Valley Drive about a mile east of Nellis Boulevard, was Dec. 17.
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