Las Vegas house prices drop for first time in over two years as sales keep falling.
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After unveiling plans for a dramatic race on the Strip, the company behind Formula One says it’s also buying property near Las Vegas’ casino corridor for a hefty price.
Producers of “The Battle of Absolute Dominion” have filed plans with the state of Nevada to film at a shuttered hotel-casino far from the Strip.
“We keep expecting prices to slow down at some point, but it’s not happening yet,” LVR President Brandon Roberts said in a news release.
Summerlin and three other Southern Nevada master-planned communities ranked among the 25 top-selling areas in the nation for homebuilders.
Crews are working on the foundation and a crane is in the air at Project63, a four-story retail development at the multi-tower CityCenter complex.
Construction is underway on Wood Partners’ 228-unit project off Southern Highlands and St. Rose parkways, near the M Resort.
Las Vegas housing prices shot past $400,000 on the resale market for the first time last month, raising concerns that many locals might get priced out as home values keep setting new all-time highs.
Today, the Huntridge Theater is run down and a regular gathering spot for homeless — but J Dapper, its new owner, wants to bring the long-shuttered theater back to life.
The median sales price of previously owned single-family homes was $330,000 in July, up 1.5 percent from the record high in June and 8.9 percent from a year ago, Las Vegas Realtors said.