Improving local fundamentals, which include job growth, population growth and strong visitor volume, is helping to cause effective demand for housing in Southern Nevada. Additionally, the market remains a key destination for retirees and snowbirds.
Las Vegas has gone from boom to bust to something that looks more like normalization. Demand factors like employment are back above pre-recession highs and population is about 2.25 Million, implying a demand for at least 830,000 housing units and likely more. Ho... read more
Tenacity, innovation and growth characterized the Las Vegas Valley in 2017. Already world famous for entertainment, other sectors also garnished interest. Las Vegas based Switch, a leading technology infrastructure company, had the second largest initial public offering within the technology sector in 2017. Virgin Hyperloop, formerly Hyperloop One, has been having successes at its test track in North Las Vegas, sending a magnetically levitated pod to 240 miles per hour. A 152,000 square feet office buil... read more
Despite have a relatively low level of available supply, which in now less than three months, we are observing very little price pressure outside of a few key areas. When price does not rise against this low level of supply, it indicates that demand is moderate. However, homes that are priced close to the neighborhood comps and are getting offers, it's just not the furious level of activity we experienced over a much of the recovery. While home prices have trended sideways, underlying fundamentals in the regio... read more
Following a significant increase in single family home prices over the summer, recent price growth is more tempered and flattening. In our opinion, this pause in price growth is welcome since we do not want to see prices exceed the basic fundamental measures that drive the market long-term. We typically see closings subside this time of year and 2015 continues this pattern, however, both escrows opened and the number of closed ho... read more
While everyone else is out on vacation during the holidays you can count on your Coldwell Banker Premier Realty agent to be working hard on your behalf. You can see here exactly why NOW is in fact a great time to list your home for sale! You can see here from this chart that in fact November and December are GREAT months to list your home with your Coldwell Banker Premier Realty agent! ... read more