The housing market’s normally busy spring selling season may be slower this year amid Las Vegas’ nationally leading price growth, a new report says.
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.
A Southern California real estate firm bought two apartment complexes near the Las Vegas Convention Center for almost $68 million combined.
City documents show plans for 303 single-family homes and two multifamily projects with 491 apartments combined, all on about 60 acres.
Howard Hughes sold 244.8 acres of residential land in Summerlin – Las Vegas’ largest master-planned community – for $144.7 million last year.
A marijuana dispensary near the Las Vegas Strip has started building a café and a pizzeria on-site.
CAI Investments founder Chris Beavor, who drew up plans for the mixed-use project a mile west of the Strip, said construction of the Chick-fil-A restaurant is projected to start in April or May, and that if all goes as planned, work crews will start building the nongaming hotel in the fourth quarter.
Las Vegas’ housing market ended 2018 with the fastest-rising prices in the country — and started 2019 with sharp drops in sales.
Robert Dietz, chief economist at the National Association of Home Builders, spoke with the Las Vegas Review-Journal last week during the International Builders’ Show at the Las Vegas Convention Center. The NAHB hosted the conference.
Despite the improved economy, land sales on the Strip have been sluggish for years, and values are nowhere near what sellers fetched before the economy crashed.
Southern Nevada home prices rose at one of the fastest rates in the country last year amid a growing population and strengthened job market.
Kaktus Life, a luxury apartment building off Cactus Avenue and Interstate 15 in Las Vegas, also features 21,600 square feet of commercial space in four freestanding buildings.
Blue Heron announced Thursday that it plans to break ground on the Vantage community in early March.
A warehouse project near Nellis Air Force Base is set to wrap up later this year.
The names were big and their plans even bigger, but the property near the Las Vegas Strip has nothing to show for it. Now new owners are taking a chance on the 60-acre site, purchasing it for $130 million.
Developers want to build 500,000 square feet of offices, nearly 100,000 square feet of retail space and 875 apartments at Durango Drive and the 215 Beltway in southwest Las Vegas.