The priciest and cheapest house sales of 2021 were separated by more than just many millions of dollars.
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Southern Nevada logged the most resales on record in 2021, prices have been hitting new all-time highs practically every month, and houses have been trading rapidly.
Southern Nevada spent the past year grappling with the pandemic but also saw a burst of lucrative casino deals.
Southern California real estate firms Lyon Living and LandSpire Group recently started construction on a 294-unit rental complex at The Gramercy in the southwest valley.
Southern Nevada prices have been on a stomach-churning ride the past two decades: The market floors it, hits the brakes, and repeats.
The company announced that due to a “backlog in renovations and operational capacity constraints,” it will not sign any new contracts to buy homes “through the end of the year.”
Christopher Homes announced plans this month for SkyVu, a 102-lot housing tract in MacDonald Highlands.
Over the past several months, some signs that Southern Nevada’s market was tapping the brakes have come and gone.
Some 15 years ago, a builder’s plan to construct high-rises in southwest Las Vegas failed, leaving a giant hole. Now another developer is moving forward with a plan for a big apartment complex there.
Housing markets are always prone to ups and downs, especially in Las Vegas, and no boom lasts forever.