Builders sold 782 homes in Las Vegas’ largest master-planned community last year, down 52 percent from 2021, according to separate reports last week from two consulting firms.
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A formerly quiet, sprawling tract of land near the Strip is becoming a Formula One racetrack and the owner of a rental property next door is looking to sell for a hefty sum.
The median sales price of previously owned single-family homes fell in July, as Southern Nevada sees fewer sales, growing inventory and more price cuts.
South Beach, in the southwest valley, boasts poolside cabanas, a huge outdoor TV, an outdoor gym, a sports field and other amenities.
Panattoni Development Co. filed a concept plan review for a venture called Project Breezy.
Las Vegas house prices hit another record high last month despite widespread economic pain inflicted by the coronavirus pandemic.
Don’t expect a big burst of real estate action anytime soon.
The community in northwest Las Vegas is designed to have around 3,000 homes and just under 30 acres of parks, trails and open space, according to a spokeswoman for one of the builders.
All are fetching fewer deals than last year amid a drop in sales throughout Southern Nevada.
The 368-unit Vintage Pointe sold for $58 million and now has traded hands three times in the past three years at escalating prices.