Las Vegas Real Estate News

LAS VEGAS, NV – Artificial intelligence (AI) has become a part of life for many people, with the technology having rapidly evolved and implemented into many jobs and industries throughout the world. Experts predict that this trend will continue, with AI soon becoming intertwined with a plethora of everyday tasks and careers…including real estate.

The real estate industry has seen the adoption of AI, which has contributed to an increase in efficiency and innovation in the field; however, like anything, there is also the potential for misuse and the harm that comes along with it, and several countries around the world – Australia, being the prime example – are now pushing for regulation of the tech’s use when it comes to real estate advertising. That being said, should the U.S. follow suit?

AI is being used generate and automate listings, anticipate buyer and seller preferences, and – with the vast amounts of data that algorithms can analyze – offer personalized property suggestions for target demographics, based on specific individual preferences. Plus, the tech enables AI-driven chatbots to offer 24/7 availability to engage with buyers at all hours of the day or night, providing help and engagement in order to help retain interest.

But while there are many positive uses of AI when it comes to real estate, there are just as many drawbacks and shortcomings as well that are raising calls for its regulation due to potential misuse that can mislead consumers.

AI algorithms that are not properly regulated can result in fabricated listings with altered images and information that can present properties in unrealistic lights. Also, there’s a lack of transparency and clear accountability in terms of AI-generated content; when AI presents misinformation or crosses ethical boundaries, what party should be held responsible?

Issues like this could eventually erode trust in online real estate platforms and even the industry as a whole if they were to run amok unchecked. Hence, certain countries are being proactive in their attempts to regulate them to prevent that from happening and to ensure consumer transparency by establishing clear guidelines, accountability protocols, and ongoing monitoring.

That being said, there are a growing number of voices that are calling for similar oversight of AI here in the U.S. as well; both the real estate industry and those who depend upon it stand to benefit.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – A massive “megamansion” located in one of Las Vegas’ most affluent communities and bosting a plethora of lavish perks has sold this week for over $15 million.

Located in the guard-gated community of Southern Highlands on a 1.36-acre plot of land, the estate in question sold for $15.5 million – a significant discount from its original $19.75 million asking price – and comes in at a whopping 18,000 square-feet of living space.

The home – which has a Mediterranean-style design outside with a tiled roof and columned entryway, but an ultra-modern interior – has eight bedrooms, a grand entry with an imperial staircase and an oculus skylight above the foyer, and an entire floor solely for entertaining guests, including a series of inter-connected pools.

A covered patio in the backyard leads to an outdoor recreation area, with starts with a circular artificial river with an actual flowing current – commonly known as a lazy river – that allows continuous relaxing trips floating around the property. Adjacent to the lazy river is a waterfall that leads down one level to a waterslide and pool, as well as a putting green, a pickleball court, a guest casita and a six-car garage.

The interior is no less impressive, with a primary suite – which has its own massage room and two closets – and two accessory bedrooms taking up the top floor. There is also a full-scale salon, a karaoke room, a cinema room, and a game room with a full bar and lounge.

The seller, Bill Piercey of California, originally purchased the property for $7.75 million while it was still in the midst of being built in 2020; he initially listed the property for sale in 2023 for $25 million and later dropped it to $19.75 million in February 2025 before settling on $15.5 million with an undisclosed buyer.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Ovation Development Corp., a Las Vegas-based apartment developer, has announced they will be holding the grand opening ceremony next week for their newest project, an affordable senior housing complex located in the southern Las Vegas Valley.

Heirloom at Pebble is a 195-unit 55-and-over apartment building situated at 2325 East Torino Avenue, near the intersection of Eastern Avenue and Pebble Road. The complex, which originally held a soft opening in May, offers apartment units with one and two-bedroom layouts, with monthly rent prices ranging from $573 to $1,377, which includes all utilities.

The project, which cost approximately $48 million, was funded in conjunction with several governmental and private business entities, including Clark County, the Nevada Housing Division, and the Federal Home Loan Bank of San Francisco. In addition, the land upon which Heirloom at Pebble sits was contributed by the federal Bureau of Land Management.

A new success story in the work to create more affordable housing in So. Nevada. The "Heirloom by Pebble" complex has opened. There are 195 units for low-income seniors..#ClarkCounty's contribution was $9.3 million. @BLMNational conveyed the land where the complex was built. pic.twitter.com/CR7EzNPXPg

— Clark County Nevada (@ClarkCountyNV) June 25, 2025

Heirloom at Pebble offers numerous amenities aimed at the health and well-being of its’ senior clientele, including a fitness center and movement room, community events, on-site hair salon and multipurpose rooms.

The apartment complex aims to help address one of the most prevailing problems affecting Las Vegas’ senior population, which is the high cost of housing, according to Ovation’s Director of Development, Armen Hadjimanoukian.

To that end, Hadjimanoukian noted that the developer is also currently hard at work on several other affordable senior housing communities in Southern Nevada, another one of which will be opening this summer.

The housing prices have really been affecting everyone in Southern Nevada — especially seniors, who are on fixed incomes,” he said. “These types of public-private partnerships are amazing because they allow us to create and provide much-needed housing. Ovation has another six communities planned or under construction – with another one opening up in August of this year.”

Heirloom-at-Pebble is now leasing: https://ovationco.com/heirloom-at-pebble/

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Howard Hughes Holdings, the developer of Summerlin, has sold nearly 60 acres of land located within the borders of Las Vegas’ largest master-planned community to housing developers, spread out over two separate transactions worth over a combined total of $100 million.

Both of the two sales closed on Tuesday, according to public property records. The first sale was to Richmond American Homes, who purchased a 36.3-acre parcel of property from Howard Hughes Holdings for $55 million, which comes out to over $1.5 million per acre.

The developer plans to utilize the land to build new housing tracts, with plans already drawn up for an 89-lot subdivision of single-family homes.

The second sale was to Toll Brothers – a company that specializes in luxury home construction – who purchased 28.3 acres of land for $1.8 million an acre, which comes to a total of $51.4 million, as per public records. Toll currently is planning to use the land to build 148 high-end housing units.

The property sold in both of the deals this week is situated west of the 215 Beltway-Summerlin Parkway interchange in the desert.

Located along the Las Vegas Valley’s western side, Summerlin is comprised of 22,500 acres and is home to approximately 130,000 inhabitants, as well as homes and rental units there are currently fetching some of the highest prices in the region.

Howard Hughes Holdings, based in Texas, takes its name from the famed aerospace engineer, business magnate, film producer, and investor; he purchased the community’s initial 25,000 acres – which he originally named “Husite” – in 1952. The community is named after Jean Amelia Summerlin, Hughes’ mother, and years later, Summerlin would go on to become the largest master-planned community in Las Vegas.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Windsor Park, a neighborhood located in North Las Vegas, has been sinking into the ground for decades – with its homes slowly falling apart as a result – and a developer that has been tasked with building new residences in their place is facing strict deadlines before his funding is yanked off the table.

The neighborhood was built in the 1960s and was originally made up of 241 homes; that number has dwindled down to just 90 today. Proper studies of the land that Windsor Park was built upon were never made; as a result, existing fault lines that were aggravated by groundwater pulled from an aquifer under the neighborhood resulted in homes gradually sinking into the ground. The result was disastrous – walls inside homes cracked, porches collapsed, and sewage pipes shifted.

Community Development Programs Center of Nevada – developer Frank Hawkins’ nonprofit affordable-housing firm – was awarded a contract for $37 million in 2024 to build a new 93-lot subdivision to provide housing for Windsor Park’s remaining residents. To date, plans have been drawn up, but construction has yet to begin.

However, since the money for the project is made up of public funds, Hawkins is up against strict deadlines. Under the terms of the contract, $25 million of the funds allocated for the project are made up of federal COVID relief funds, and if they are not spent by the end of 2026, those funds will no longer be made available.

In addition, another $12 million of the money earmarked for the project comes from the state of Nevada, and its expenditure must be committed to by June 20 and spent by September 15; any portion of that $12 million that has not been spent by the deadline goes back to the state.

So far, officials indicate that $11 million in COVID funds have been spent on the project, mostly consisting of $9.9 million towards the purchase of the land to be developed, located along Carey Avenue just west of Martin Luther King Boulevard.

As part of the contract, Hawkins is allowed to procure additional funding from other sources, but officials are growing worried that the developer may not meet the deadline to spend the $12 million allocated by the state.

Clearly, it’s a concern,” said State Senator Dina Neal (D-North Las Vegas), who introduced the Windsor Park Environmental Justice Act bill that ultimately funded the project. She has since sponsored a new bill to potentially extend the deadline for the $12 million expenditure by an additional two years.

However, Hawkins said that he is not worried about meeting the looming financial deadlines.

Even if I did, there’s nothing I can do about it…it’s not my purview,” he said.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – For investors, Las Vegas real estate offers some of the best rental yields in the U.S., but it also comes with its fair share of challenges – chief among them, rental vacancies. For property owners and investors, even one month of vacancy can erode profits. But how can you, as a real estate investor in Las Vegas, minimize vacancy risk and maintain consistent rental income?

Let’s dive into what causes vacancies, practical solutions, and proven local strategies from experts at Shelter Realty to help you avoid these pitfalls.

Why Vacancy Is Costly – Local Vegas Stats

Rental vacancy doesn’t just cost a single month’s rent – it snowballs. In Las Vegas, where the average rent is $1,500–$2,200 per month, even a two-week gap means hundreds in lost income and ongoing utility costs.

According to recent Las Vegas housing reports:

• The average vacancy period is 29–45 days depending on location, condition, and if priced appropriately.
• The cost of turnover (cleaning, repainting, marketing, screening) averages $1,500–$2,500 per turnover.
• Properties priced incorrectly stay vacant 22% longer on average.

Clearly, minimizing vacancy isn’t just about maximizing cash flow – it’s about protecting your bottom line.

What Causes Vacancy in Out‑of‑State Rentals

For many investors, Las Vegas is a remote market. Managing a property from California, Arizona, or beyond can lead to costly oversights. Here are the three most common reasons vacancies persist:

Pricing Poorly

Setting your rent too high deters prospective tenants. But setting it too low attracts unqualified renters or leaves money on the table. Many landlords fail to run updated comps or understand micro-market trends within Henderson, Summerlin, or North Las Vegas.

Weak Marketing

Your listing needs to stand out in a sea of online posts. Blurry photos, vague descriptions, and poor platform selection (e.g., ignoring Zillow, Apartments.com, or social groups) can keep even great units unseen.

Poor Tenant Screening

Renting to the wrong tenant often leads to early lease breaks, non-payment, or evictions – all of which increase vacancy rates. Rushed background checks or ignoring red flags leads to costly turnovers.

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Proven Leasing Strategies (Shelter Realty Advice)

Experienced property managers like Shelter Realty use precise, data-backed methods to keep units rented quickly and reliably.

Local Comps

Using up-to-date comps from nearby rentals ensures your pricing is both competitive and profitable. In high-demand areas like Green Valley or Summerlin, nuanced pricing (e.g., adjusting for square footage or upgrades) can shorten time-on-market significantly.

Online Listings

High-quality photography and optimized descriptions can boost listing visibility by 3X. Shelter Realty uses syndicated platforms to ensure listings appear where tenants are actually searching.

Incentives (Leases, Furnished?)

Offering incentives such as:

• Short-term leases for relocation clients or traveling professionals.
• Furnished options in condo-heavy zones.
• Move-in discounts during off-season.

These tactics attract specific tenant groups who otherwise might pass over your listing.

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Tenant Retention Tactics

Getting a great tenant is only half the battle – keeping them is where you win. Here’s how top landlords reduce tenant turnover in Las Vegas:

• Quick repairs: Same-day responses to maintenance requests signal respect and professionalism.
• Flexible lease renewals: Offering 6 or 18 month options accommodates tenant needs and reduces churn.
• Frequent outreach throughout the year: Annual check-ins increase renewal likelihood.

Shelter Realty maintains average tenancy lengths of over 36 months by proactively engaging tenants with concierge-level service.

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Automation & Maintenance

Technology is your best friend when managing multiple units or out-of-state properties. Automate where possible:

• Rent Collection: Use platforms like AppFolio for automatic payments.
• Maintenance Portals: Tenants can submit work orders 24/7 and track status.
• Smart Tech: Smart thermostats and locks minimize cost and improve efficiency.

Preventive maintenance schedules, managed by local teams, also reduce emergency repairs and unit downtime.

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DIY vs Professional Management

Some investors prefer to self-manage to save money. But DIY management often leads to long-term losses due to:

• Inconsistent tenant communication
• Delayed maintenance
• Legal compliance oversights

A professional Las Vegas property management company like Shelter Realty offers:

• 24/7 tenant support
• Market analysis
• Attorney-reviewed lease agreements
• Eviction processing

While there’s a management fee, most investors find the ROI outweighs the cost.

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Local Legal Requirements

Las Vegas rental laws are dynamic and vary between municipalities like Henderson, North Las Vegas and Clark County. Key regulations include:

• Proper notice for entry (typically 24 hours)
• Security deposit handling and timelines
• Fair housing compliance
• Eviction protocol in accordance with Nevada statutes (especially post-pandemic)

Ignorance of local laws can lead to litigation or regulatory fines—especially for out-of-state investors. Partnering with a licensed management firm ensures legal compliance at every step.

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Conclusion & Next Steps

Rental vacancy in Las Vegas doesn’t have to be a gamble. With data-driven strategies, local market expertise, and a professional team, you can secure long-term tenants and stabilize your investment income.

Next Steps:

• Reevaluate your current vacancy strategy.
• Schedule a rental pricing analysis with Shelter Realty.
• Consider a management consultation to improve tenant retention and reduce turnover.

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Internal Links for More Guidance:

• Las Vegas Property Management Services
• Tenant Screening in Las Vegas
• Rental Marketing Plans

Frequently Asked Questions (FAQs)

How long does it take to rent out a property in Las Vegas?

With proper pricing and professional marketing, most rentals in Las Vegas are leased within 35–45 days. However, DIY listings or overpricing can extend vacancy periods to 60+ days.

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What’s the average rental vacancy rate in Las Vegas?

As of recent data, Las Vegas has an average vacancy rate of around 5–78%, though this varies by neighborhood and season. High-demand areas like Summerlin and Henderson see lower vacancy rates.

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What incentives help fill a rental faster?

Offering move-in incentives (e.g., half off first month) and/or flexible lease lengths can attract renters quickly, especially in competitive markets or off-peak seasons.

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Is hiring a property manager in Las Vegas worth it?

Yes – especially for out-of-state investors. Property managers reduce vacancy, handle maintenance, ensure legal compliance, and screen tenants professionally, often leading to higher ROI.

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How do I screen tenants effectively?

Effective tenant screening includes credit checks, income verification, rental history, employment verification and criminal background checks. Shelter Realty uses a proven multi-step process to place reliable tenants quickly.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – According to a new report released by Las Vegas Realtors (LVR), prices of condominiums and townhomes in the Las Vegas Valley are on the rise due to increasing demand fueled by high house prices in the region.

Based on LVR data pulled from the Multiple Listing Service, the median price of a condo or townhome sold in Southern Nevada in May 2025 was $307,000, which represents a 1.4 percent increase from April 2025 and a 4.1 jump year-over-year. However, the number of condos and townhomes sold in the valley in May was 559, which is 2.8 percent higher than April but a 19 percent decrease from the same period of time last year.

Meanwhile, the median price of a single-family home in Las Vegas has been consistently remaining at $480,000, just shy of the all-time record high level that was reached earlier in 2025, LVR says.

Given that the current high prices in the Southern Nevada single-family home market are driving very real affordability concerns for many people in the region, Henderson Re/Max Advantage associate Robert Little notes that some buyers are feeling priced out and are seeking other housing options that are more in line with their budgets…mainly, condos and townhomes.

I believe this is largely due to affordability,” he said. “Condos, with a current median price of $307,000, are more accessible than single-family homes, which have a median price of $480,000. This makes them especially attractive to first-time buyers, second-home purchasers, or those on fixed incomes and tighter budgets.”

This rising demand for condos and townhomes is correspondingly serving to drive prices in that market up, but LVR President George Kypreos said that monthly sales numbers can fluctuate wildly in Las Vegas and it’s best to keep an eye on the big picture instead of the small details.

While local condo sales and prices did post a modest increase in May, I wouldn’t read too much into it,” he said. “I do think it suggests that more buyers are recognizing that condos and townhomes can be a more affordable way to enter the housing market, especially with home prices hovering just below record levels and mortgage interest rates still higher than we’d like.”

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – While there is a plethora of things you should be on the look-out for when looking into one of the single most expensive purchases that you will likely ever make in your life – that is, buying a home – there’s one element that many real estate experts say many first-time homebuyers consistently overlook, and it can lead to major financial headaches down the road.

The element that newbie buyers often fall prey to is their inability to tell a high-quality home renovation from cheap, quick-fix cosmetics update done by a seller simply looking for a fast and easy flip.

These deceptive updates can take the form of some fresh paint, new appliances, and some “light staging” – that is, when a vacant home is furnished with basic accessories and furnishings to make it more appealing to potential buyers – and they can certainly hoodwink the untrained eye into thinking that they home they’re in looks great.

But experts say that if a house looks too good to be true, it’s vital to give it a thorough, in-depth inspection to see what lies underneath the shiny veneer; after all, you want the seller to have invested in high-quality renovations, not surface embellishments designed to hide deep flaws in order to make a fast sale.

Kitchens and bathrooms are especially common culprits in this regard, and cheap, DYI cosmetic fixes are often the most evident in these rooms. Be on the lookout for poor paint jobs, tiles that are misaligned, cabinets that have been installed unevenly, a lack of Ground Fault Circuit Interrupter outlets, and sloppy caulking.

Also, if any rooms in the home have been renovated, ask to see the permits to ensure the work was done by a licensed, competent professional; if they are not available, the work was probably carried out by the seller instead likely not up to snuff, and unpermitted work can also cause you financial headaches down the line if you sell the house or have to file an insurance claim.

In a worst-case scenario, unpermitted home upgrades – such as electrical and plumbing work, or adding additional square footage – may not be up to local building codes, and an inspector could force you to rip the work out and redo it to bring it into compliance.

Make sure you hire an experienced and knowledgeable inspector to look over any home you may be interested in buying. Important things to note are the condition of the home’s exterior; the age of key infrastructure items such as the HVAC, electrical and plumbing; the condition of areas that are typically considered afterthoughts, such as the basement or garage; and signs of water intrusion or poor drainage.

In the end, it’s more important to make sure you get a home that has been well-maintained then one with all the bells and whistles; after all, you can add them yourself after the sale is complete.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – As part of the continuing and ongoing economic development efforts in North Las Vegas, ground was officially broken and construction began on a new Fairfield Inn & Suites by Marriott hotel, with the milestone event being attending by multiple community members, civic leaders, and city officials.

Among the dignitaries attending the groundbreaking was North Las Vegas Councilman Isaac Barron, who said that the development of the hotel – which is being handled by Nigro Construction – is part of the city’s efforts to make it a place where people want to visit, work and live.

This site will represent more than structural progress; it’s a symbol of economic development, job creation, and community growth,” Barron said. “Nigro’s commitment to excellence and integrity is evident in every project they undertake. They’re not just raising buildings- they’re raising the bar for what’s possible when public and private sectors collaborate with purpose.”

Nigro Construction owner Mike Nigro noted that the development of the hotel represents a positive collaborative effort between the public and private sectors, and it bodes well for future joint development efforts in North Las Vegas.

We are proud of the scope of this project and the opportunity it brings. From construction jobs to ongoing hotel staff positions to future guests, this property will have a lasting and positive impact,” he said. “This groundbreaking is more than just a ceremony- it’s a signal of confidence: confidence in this city, in its potential, and in what we can build when public and private sectors work together with purpose.”

Upon completion, the Fairfield Inn & Suites by Marriott will boast 117 rooms spread out over four stories, with sustainability – that is, the focus on minimizing the negative impacts of buildings and construction projects on the environment and maximizing their positive social and economic benefits – being heavily incorporated into the structure’s design.

To that end, the hotel will feature energy-efficient systems and the building process itself will utilize the most environmentally friendly methods possible in order to minimize any potential impact upon the surrounding area and its inhabitants.

The hotel will cater to both business guests and tourism, and will have resort-style amenities such as a large outdoor pool and a modern-style fitness center.

Development of the hotel – which will create dozens of jobs – is slated to be completed in 2026.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Following three months in a row where home prices in Las Vegas reached and maintained their all-time record high $485,000, April finally saw that number dip to $480,000. And according to a new report by Las Vegas Realtors (LVR), that dollar amount remained firmly in-place for May as well, signifying a possibility that the market may be slowly shifting to favor buyers once again.

LVR notes that the median price of a single-family home in the Las Vegas Valley in May was once again $480,000, just $5,000 shy of the record peak that price reached during 2025’s first three months.

In contrast, the median price of condominiums and townhomes in May reached $307,000, which represents an increase of $5,700 over April. The previous high for condos was $315,000, which occurred in October 2024.

LVR President George Kypreos said these numbers represent a degree of stability returning to the residential real estate market in the valley, which he anticipates will foster in more of a buyer’s market in the near future.

Home prices have been very steady so far this year, with more homes on the market,” he said. “This increase in inventory and slower sales pace is giving buyers more options and negotiating power. This is a shift from the highly competitive seller’s market we experienced in recent years.”

The housing inventory has grown to a three-and-a-half-month supply; at the end of May, there were 6,646 homes listed for sale without any offers, which represents an increase of 71.8 percent year-over-year, LVR said. As for condos and townhomes, there were 2,510 listed without offers at the end of May, which is an 89.6 percent jump from the same period of time in 2024.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Legislators in Nevada have approved a bill that, if signed into law by Governor Joe Lombardo, will institute changes to the state’s probate law in order to protect heirs and prevent fraud.

The bill comes following the results of an investigation published by the Las Vegas Review-Journal that shoed the discovered a group comprised of private administrators, real estate agents, lawyers and house flippers who were making money hand-over-fist by selling properties of people who had passed away via probate cases sthat tarted without any participation on the part of the deceased’s relatives.

As a result, the members of this so-called “cottage industry” cashed in on the estates of dead people across Southern Nevada for years, with the heirs often completely shut out and not getting one red cent.

Under current Nevada law, almost anyone – regardless if they are related to the deceased or not – can manage a probate case and even sell the dead person’s property with almost no oversight from the courts. In fact, the only instance of someone not being allowed to manage a probate case in Nevada is if they are a convicted felon.

The Nevada Senate Judiciary Committee’s Chair, Melanie Scheible (D-Las Vegas), said that she was unaware of the state’s probate law issues until she read the Review-Journal’s report.

“Something is wrong here,” she recalled thinking at the time.

The new bill approved by Nevada legislators – Senate Bill 404 – changes probate law by adding additional steps that must be undertaken in order for an entity to manage a probate case or sell a dead person’s home, and also greatly narrows the scope of who is allowed to sell homes in probate cases without the approval of a judge.

SB404 was delivered to the desk of Governor Lombardo earlier this week, and he has approximately one week under Nevada’s legislative process to sign it into law.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – While sales of new single-family homes have decreased during the first quarter of 2025 – having dropped 19 percent over the course of the first three months of the year – luxury listings with prices exceeding $1 million within the same span of time experienced a huge surge in purchases, jumping an impressive 41 percent.

This news comes as luxury development and sales – especially in Summerlin – remain ongoing at a brisk pace.

According to Las Vegas-based Home Builders Research, the number of homes sales closing at $1 million or more in the first quarter in Las Vegas numbered at 154, which represents a significant increase year-over-year, with 109 sales in that range being made in the first quarter of 2024.

When the luxury numbers for Q1 2025 are broken down, 39 of the 154 closings ranged between $1 million and $1.1 million; however, at the opposite end of the spectrum, the two highest sales in the first three months of the year were $10.5 million for a MacDonald Highlands residence, followed by a Blue Heron-designed home in Roma Hills in Henderson which sold for $6.3 million.

Responding to the very real demand for luxury housing options in Southern Nevada, homebuilder Taylor Morrison recently broke ground in Summerlin West on Esplanade at Red Rock, which will take the form of a high-end community offering 400-unit single-family homes ranging in size from 1,500 to 3,200 square feet. Over 50 percent of the houses for sale in Esplanade will be in the price range of $1 million and up.

Meanwhile, Summerlin’s ultra-affluent The Summit Club community regularly sees homes selling for $30 million or more.

Despite the challenges being faced by the overall housing market in Las Vegas, luxury home sales and development are still going strong for the time being.

Shelter Realty Property Management specializes in the areas of  Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.