Las Vegas Real Estate News

Shuttered Lucky Dragon sells at auction for $35 million

The Lucky Dragon resort is seen on Sahara Avenue on Tuesday, Nov. 29, 2016, ahead of its grand opening on Dec. 3, 2016.

The auction of the Lucky Dragon this morning opened and closed with a single bid. Snow Covered Capital, the shuttered casino-resort’s main lender, placed an opening bid of $35 million for the 2-year-old property. No other bids were made by the ...

30 October 2018
By Mick Akers

Rising rates, slowing home sales expected to hurt remodelers

A carpenter frames a home under construction in Henderson in this 2009 file photo.

General contractors and other small businesses in the home remodeling industry can expect revenue to slow in 2019, the result of rising mortgage ...

22 October 2018
Joyce M. Rosenberg, Associated Press

Amid housing crisis, Reno's motor lodges become last resort

This photograph taken Wednesday, Aug. 29, 2018 in downtown Reno shows one of the weekly motels that increasingly are becoming the last stop before homelessness for hundreds of working families who can't afford to live anyplace else. An economic boom spurred by the arrival of thousands of new employees at Tesla, Google, Apple and other corporate giants has created an unprecedented housing crisis in the area.

Dozens of downtown motor lodges provided spare but comfortable retreats for motorists who took to the nation's new highways to see the bright lights of the self-proclaimed "Biggest Little City in the World" ...

22 October 2018
By Scott Sonner, Associated Press

Closed Lucky Dragon resort going up for auction

The Lucky Dragon resort is seen on Sahara Avenue on Tuesday, Nov. 29, 2016, ahead of its grand opening on Dec. 3, 2016.

The shuttered Lucky Dragon hotel-casino near the north end of the Strip is set to be sold to the highest bidder later this month. Built for $160 million in 2016, the property is going up for auction Oct. 30. The ...

12 October 2018
By Mick Akers

Report: Las Vegas home prices reach 2006 level, hit $300K average

This 2016 photo shows a Las Vegas home for sale.

The average sale price of single-family homes in Southern Nevada was an even $300,000 in September, which marks the highest transaction amount since June 2006 when it peaked at $315,000, according to the Greater Las Vegas Association of Realtors. The September mark was an increase of 1.7 percent from ...

8 October 2018
By Ray Brewer

Fremont9 luxury apartments make a splash in downtown Las Vegas

A look at Fremont9, the newest downtown residential project on Fremont Street and 9th Street, Tuesday, Sept. 18, 2018.

The Downtown Project’s quest to revitalize downtown Las Vegas has always been hampered by a lack of available housing. Fremont9, a five-story mid-rise, could help change that ...

19 September 2018
By C. Moon Reed

Q+A: Related CEO bullish on Las Vegas economy, upscale rental projects

Steve Patterson, president and CEO of Related Development, looks on during an interview at the Bellagio hotel-casino in Las Vegas on Tuesday, Sept. 18, 2018.

The Miami-based luxury home rental company plans to have as many as three projects costing an estimated $300 million in the valley by the end of 2019 ...

19 September 2018
By Chris Kudialis

Soaring North Las Vegas housing prices box out first-time homeowners

The Las Vegas skyline and homes are shown from over the ridge of a construction site for a new residential community at the edge of North Las Vegas, Aug. 11, 2018.

Today, North Las Vegas, encompassing the 89031 ZIP code, is the model of the recovery that has swept the nation. The rate of rent increases on Las Vegas-area homes is among the highest in the country.

18 September 2018
By Matthew Goldstein and Robert Gebeloff, New York Times News Service

Real estate report: Market for existing homes in Las Vegas is 'cooling off'

A house is shown for sale Tuesday, Feb. 9, 2016, in Las Vegas.

The Las Vegas housing market is “cooling off,” says Chris Bishop, president of the Greater Las Vegas Association of Realtors. The group reported today that the average price for existing single-family homes sold in ...

6 September 2018
By Ray Brewer

Group hits jackpot with gamble on Las Vegas condos

Downtown Las Vegas is viewed from a remodeled condo on the 17th floor of the Ogden Tuesday, Aug. 21, 2018.

When the Las Vegas housing market cratered during the recession. When construction of luxury condominiums and housing developments screeched to a halt ...

27 August 2018
By Mick Akers

Home means Nevada (for Californians, Utahans and Arizonans, too)

Home means Nevada (for Californians, Utahans and Arizonans, too)

While the addition of more than 100,000 residents since 2016 and three professional sports teams has certainly had a positive role in helping the market, those in the industry claim our local growth is thanks to Vegas’ booming economy ...

16 August 2018
By Chris Kudialis,
C. Moon Reed

Average price of existing homes climbs to $290,000

This February 2016 photo shows a house for sale in the Las Vegas Valley.

The average sales price for an existing single-family home in Southern Nevada in July was $290,000, an 11 percent increase from $260,000 in July 2017, according to ...

8 August 2018
By Ray Brewer

iBuyers offer another option to quickly sell homes in Las Vegas

Members of the Opendoor national real estate firm pose for a photo in front of one of their properties.

Instead of selling their homes through traditional real estate agents, some Las Vegans are opting to sell directly to so-called iBuyers such as Opendoor. San Francisco-based Opendoor has operated in the Las Vegas Valley for ...

30 July 2018
By Chris Kudialis

Raiders impact: Team's facility making St. Rose Parkway hot commodity

Henderson Mayor Debra March is shown after announcing that the Raiders headquarters will be located in Henderson, during her State of the City address at Green Valley Ranch Resort on Wednesday, Jan. 10, 2018.

Land near the planned Raiders corporate offices and practice facility along St. Rose Parkway in Henderson has become a hot commodity. Stable Development won a competitive bidding war before Tuesday’s Henderson City Council meeting, with a winning bid of $8.25 million, for a 8.15-acre parcel on St. Rose Parkway and Spencer Street. The group plans to build “The Village,” a mixed-use project with ...

27 July 2018
By Mick Akers

Southern Nevada housing prices take rare monthly dip

A for-sale sign is seen for a home near South Buffalo Drive, Thursday, Dec. 21, 2017.

The median home price in Southern Nevada was valued at a solid $290,000 in June, up 12.7 percent from last year's median price, according to a housing market report released this morning. The Greater Las Vegas Association of Realtors reported June's median price was up 12.7 percent from the June 2017 median price of $257,373, but down 1.7 percent from May's median price of $295,000. GVLAR President Chris Bishop said the ...

6 July 2018
By Chris Kudialis
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