Las Vegas apartment rents are ending 2018 rising fast, but amid steeper prices and increased construction, vacancies are ticking higher.
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Here’s a look at the five most expensive high-rise condo sales of the year, as reported by the GLVAR. Most were in the Waldorf Astoria Las Vegas, formerly the Mandarin Oriental , and one of the buyers was Switch founder Rob Roy .
Investors bought cheap houses in Las Vegas in bulk to turn into rentals after the market crashed last decade. As of this summer, big landlords were still holding on to their properties despite fast-rising sales prices and the tremendous growth in home values since the economy cratered.
The deal amounts to more than $281,800 per unit, more than double the market average as tracked by Colliers International. The price-per-door might also be a record for local garden-style apartments, said listing broker Taylor Sims of Cushman Wakefield.
A total of 7,003 single-family houses were listed without offers at the end of November, up 1.2 percent from October and 54.3 percent from November 2017, according to a new report from the Greater Las Vegas Association of Realtors.
Tower 16 Capital Partners announced last week that it acquired the 314-unit Evergreen complex for $29.5 million with partner Henley USA.
Las Vegas home prices will keep rising at one of the fastest rates in the country next year, and sales will only creep up, according to a new forecast.
Attached homes accounted for 13 percent of October’s sales tally, the sixth straight month that they fetched at least a 10 percent market share.
A condo east of the Las Vegas Strip is boarded up and, months after the owner died, still has furniture, clothes, oxygen tanks, a grimy stovetop and dishes in the sink. It’s also one of the cheapest homes for sale in Las Vegas
Las Vegas home prices keep rising fastest among major cities, a new report shows, and buyers are pulling back.