Spanning more than half the size of Summerlin, a sprawling ranch property in Northern Nevada has hit the market for $100 million.
Housing
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Las Vegas rental rates are climbing faster than the national average, and Nevada faces a steep shortage of affordable units.
Blue Heron held a ceremonial groundbreaking for Shoreline, an 83-lot housing tract at Lake Las Vegas in Henderson.
Southern Nevada’s market overall “may be starting to calm down a bit.”
The buyer, British businessman Simon Dolan, made headlines for challenging the U.K. government in court over the country’s pandemic lockdowns.
Despite Las Vegas’ rapid price gains, several other cities logged even higher growth.
Housing markets are prone to ups, downs and other shifts, especially in Las Vegas, and there’s no telling how long the current trends will last.
Shaquille O’Neal is looking to cash in on his luxury Las Vegas home. The 7-foot-1-inch basketball Hall of Famer put his 4,824-square-foot house near Sunset Park on the market this month.
Home sales have tumbled lately as the cost to buy a place grows.
With the grass torn out and heavy construction equipment on-site, Las Vegas’ former Royal Links golf course is on its way to becoming a sprawling housing tract.
Amid the typically busy spring buying season, around 3,000 previously owned single-family homes traded hands last month, down 8 percent from March.
The Summerlin estate has been on and off the market over the past few years and was priced at $24.5 million last fall.
The next portion of the southwest Las Vegas Valley complex includes two more office buildings, another parking structure, and a conference center called The Assembly.
Southern Nevada’s rental market has heated up over the past year as people are looking for more space amid widespread work-from-home arrangements.
The initiative, Home Means Nevada, marks the “largest single investment in affordable housing” in state history, according to the governor’s office.
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