Buyers paid a median price of $444,677 for newly built homes in Southern Nevada in November, up 11.5 percent from a year earlier.
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The turf ban would apply to all new development, except for schools, parks and cemeteries. Existing regulations prohibit grass in front yards and limit it to 50 percent of a backyard’s area.
Home construction is still facing costly and delayed materials from supply chain disruptions while the Southern Nevada housing market remains hot, industry members say.
The Southern Nevada Water Authority has aggressively pursued the removal of grass in Southern Nevada for decades. It wants to make turf regulations even more restrictive.
Attorneys for Hsieh’s family filed court papers Monday showing the sprawling home is set to trade hands.
The median sales price of previously owned single-family homes was $420,000 in November, up $10,000 from the prior month.
Starlight U.S. Residential Fund has acquired Lyric, a 376-unit apartment complex in the south valley.
Builders logged 848 net sales in October, the lowest monthly tally since November 2020, though buyer traffic “has remained steady.”
Former Raiders President Marc Badain has sold his Southern Highlands home four months after he resigned from the organization.
SB Real Estate Partners announced that it acquired The Russell, a 241-unit property in the southwest valley.