The property owners are seeking $7 million an acre, or $182 million total, for the spread near Mandalay Bay.
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Before last year, Las Vegas’ median house price peaked in mid-2006 at $315,000 – which, adjusted for inflation, is $423,834 in today’s dollars.
Around 7,000 single-family homes were on the market without offers at the end of November, up a jaw-dropping 54 percent from a year earlier and the highest level in two years, according to Greater Las Vegas Association of Realtors data, which the trade group pulls from its resale-heavy listing service.
Paula Yakubik may not be a developer or broker, but she generated plenty of business from Las Vegas’ real estate industry during the boom years.
Faraday Future may have bailed on building its car plant in Apex Industrial Park, but the electric-car startup isn’t washing its hands of the site.
It wasn’t long ago – less than a decade – that Las Vegas’ housing market was a mass grave of foreclosures. Southern Nevada still gets more repo activity than most areas of the country. But overall, its foreclosure woes aren’t nearly as severe as they used to be.