Condo sales are on a downward trend in the Las Vegas Valley, according to the latest data from Redfin.
Patrick Blennerhassett
Reporter: Real Estate and Housing
Phone: 702-348-3967
Patrick Blennerhassett hails from Kamloops, a small city in Canada, and first started working as a newspaper reporter in the early 2000s. Before joining the RJ, he worked for the South China Morning Post, based out of Hong Kong, where he covered sports and the growing intersection of sports and politics. Patrick was also a writer for Business in Vancouver, covering a wide range of topics including real estate, economics, trade and geopolitics, and for the Victoria News, where he won a Jack Webster Fellowship Award. Patrick’s work has been published in outlets such as The Guardian, The Globe and Mail, Reader's Digest, Chicago Tribune, The Seattle Times, Miami Herald, and he has appeared on CBC, NPR and BBC radio. He is a four-time published author and has traveled to more than two dozen countries.
Ivan Sher, founder of IS Luxury, said over the past decade the valley has become a magnet for high-net worth individuals looking to relocate.
Redfin’s latest report has Las Vegas ranked fifth in the country for home purchase agreements falling through.
About 800 people in Nevada are locked into long-term agreements with a real estate company that used a now outlawed type of contract in the state.
Nevada has a historically low tax burden, so the benefit is one of the lowest in the country.
The Las Vegas Valley saw the biggest increase in the country in starter homes on the market, according to a new Redfin report.
Las Vegas Realtors President George Kypreos said the local real estate market is going through a “reset.”
George Kypreos, the current president of the Las Vegas Realtors, spoke to the Las Vegas Review-Journal about the valley’s real estate climate in 2025 and where the market is headed.
A new report from UNLV’s Lied Center for Real Estate estimates that over the next 13 years the valley will see an additional 80,000 buildings become 50 years or older.
Redfin’s latest report shows the valley has seen the second biggest shift in the country, behind Denver, from a seller’s to a buyer’s market year over year.
Mike Roland, the founder of The Roland Team, said until mortgage rates come down, the industry will continue to see a slowdown in sales.
Southern Nevada faces a unique challenge when it comes to building both commercial and residential projects because the Bureau of Land Management controls so much of the land, experts say.
A new report shows a substantial month-over-month decline in rates locally fueled by a slowdown in migration and an uptick in multifamily units coming onto the market.
The drop is largely due to a slowdown in homebuilding, but commercial construction also is starting to slow this year.
A new study from UNLV’s Lied Center for Real Estate estimates that only 6.1 percent of all occupations in Southern Nevada pay enough to afford a house.