Las Vegas Real Estate News

LAS VEGAS, NV – The average amount of time homes for sale in the Las Vegas Valley are sitting on the market is gradually increasing, according to a new report by Redfin.

Homes in the valley – as of data taken from sales in January – are sitting on the market for an average of 78 days, which represents an increase of 18 days year-over-year, Redfin notes.

Meanwhile, the median sales price of a Vegas home has decreased 1.1 percent in January when compared to the same period of time one year prior, but pending sales are down 6.7 percent; meanwhile, the number of homes that are being sold is down 8.4 percent, and new homes that are being listed on the market have decreased 10.1 percent.

The data was compiled from listings in the valley that had been up for 18 days or longer when compared to the previous period of time one year prior. Active listings were up 8.6 percent year-over-year, according to Redfin.

This data ranks Las Vegas at the third highest major metropolitan area in the United States, only behind San Antonio, Texas at 21 days and Houston, Texas at 19 days.

Redfin Senior Economist Asad Khan noted that the market has been favoring buyers to a higher degree than the organization has seen in many years.

Home prices grew so fast for so long that a lot of buyers got shut out of the market, which is now causing price growth to cool,” he said. “With far more homes for sale than people who want to buy them, the buyers who are in the market have the power to negotiate on price, which is keeping price growth in check.”

While home-price growth has slowed and mortgage rates have dipped, housing affordability hasn’t improved enough to bring a critical mass of homebuyers off the sidelines,” Khan concluded. “The median home sale price was at the highest January level on record last month, and mortgage rates were still more than double the record low hit during the pandemic. Redfin agents say many house hunters are waiting for rates to fall further before jumping in.”

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 by Redfin, in January there was an estimated 44 percent more home sellers than buyers – which, in numerical terms, would equate to 600,314 – representiong a 30 percent increase year-over-year and the second-largest gap since the brokerage first began tracking such data in 2013.

However, the gap in Las Vegas, Nevada was far greater than the national average, with Redfin noting that there were 92 percent more sellers than buyers in January.

The largest gap between sellers and buyers in the national real estate marketplace was 45 percent, which Redfin notes took place in December 2025.

Redfin analyzed the 50 most populous U.S. metropolitan areas, and defines a buyer’s market as one where there are more than 10 percent more sellers than buyers. In contrast, a seller’s market is one that has over 10 percent less sellers than buyers, and a market is considered “balanced” if there is a plus or minus gap of no more than 10 percent.

By those definitions, Redfin notes that the country has been an overall buyer’s market since May 2024.

The strongest seller’s market in January was Newark, New Jersey, which had an estimated 31 percent fewer sellers than buyers, followed by Nassau County, New York (-29 percent), Milwaukee, Wisconsin (-26 percent), Montgomery County, Pennsylvania (-26 percent) and New Brunswick, New Jersey (-17 percent).

In a situation where sellers greatly outnumber buyers, the latter have distinct advantages because the large number of options they possess gives them more negotiating power. However, one still needs to have the financial means to afford to purchase a home in a buyer’s market, and record-high home prices, coupled with expensive borrowing costs and the uncertainty currently plaguing the economy are still proving to be formidable barriers for many when it comes to homeownership.

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 local Las Vegas developer has announced that a new multi-unit rental property that is located in a traditionally underserved section of the city – the Historic Westside – that would greatly benefit from such a development amid great demand is now set to open this May.

Developer Sam Cherry of Cherry Development’s five-story, rental property – dubbed Share Westside – is made up of 104 one-bedroom, 580 square-foot units, and includes amenities such as coworking space, a fitness center and a movie screening room. The complex also comes with an additional 10,000 square-feet of retail and office space.

Share Westside is built upon a city-owned one-acre plot of land at the northeast corner of Jefferson Avenue and D Street that Cherry had previously purchased for a mere $6. The tiny fee was due to the fact that the apartment complex is aimed at providing housing for local workforce members, and 84 of the units are subject to an agreement with the Las Vegas City Council that limits rental rates.

The City Council approved the project in mid-2023, with Cherry then closing on the purchase in fall 2024, according to records; the cost of Share Westside is approximately $22 million.

Cedric Crear, one of the members of the City Council that voted to approve the project, stated that he was unable to remember the last time that anyone had built any sort of housing in Historic Westside, and it is hoped that Cherry’s work will spur additional development in the region.

Cherry has previously opened a 63-unit rental complex in Las Vegas’ Arts District, in addition to another rental project on Fremont Street. These projects are addressing a housing shortage in Las Vegas’ downtown area, something that local officials have said is sorely needed.

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 – In today’s tough economic climate, any way to save a buck or two can make a difference for hard-working families. The overall cost of living is a very real concern when it comes to where you live, and because of that there’s yet another reason why Nevada remains appealing to many- according to a new WalletHub report, the state has some of the lowest property taxes in the entire country.

WalletHub Analyst Chip Lupo noted that, according to the U.S. Census Bureau, the average household in the country pays approximately $3,119 per year in property taxes.

Some states charge no property taxes at all, while others charge an arm and a leg,” he said.

WalletHub’s report examined all 50 U.S. states and the District of Columbia to see which of them placed the heaviest and lightest property tax burdens on their residents.

Americans who are considering moving and want to maximize the amount of money they take home should take into account property tax rates, in addition to other financial factors like the overall cost of living, when deciding on a city,” Lupo said.

According to WalletHub’s report, Hawaii, Alabama, Nevada, Arizona, and Colorado are the states with the lowest property taxes. WalletHub based their report on data originally collected in 2024, at which time the median home value in the nation was $332,700.

With that being said, the average property taxes on a home in Nevada that is worth $332,700 is a mere $1,549 annually, as per WalletHub. Currently, the median home value in the state is $435,400.

In contrast, the states with the highest annual property taxes in WalletHub’s report are New Jersey ($7,022), Illinois ($6,694), Connecticut ($6,024), New Hampshire ($5,511), and Vermont ($5,295).

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 new Lake Las Vegas community developed by Tri Pointe Homes and boasting interior designs by a noted celebrity designer has begun sales this week.

Dubbed Lakeview Ridge, the 54-home development currently has three model homes for prospective buyers to check out, all of which feature designs by Bobby Berk, star of the Netflix series “Queer Eye.” Berk served as the interior design expert for the shows first eight seasons, a role for which he won a Primetime Emmy Award.

The homes in Lakeview Ridge are part of the Tri Pointe Homes’ BB Edit Program, where buyers can opt to choose one of Berk’s interior designs for their home, in addition to options to have the rooms furnished as well.

Berk has been working with Tri Pointe for the past decade, having first collaborated with them by designing a show home for the International Builders Show; he has since been responsible for the designs of multiple of the developer’s communities in Southern Nevada.

Lakeview Ridge’s residences are part of Tri Pointe’s “affordable luxury” line, with prices ranging from $800,000 to $1 million; Tri Pointe Homes Division President Klif Andrews noted that this puts an affluent lifestyle into the hands of people without breaking the bank.

There’s a lot of luxury touches that are still, kind of, at what I would call an affordable price point,” he said. “We can combine this affordable luxury with great views.”

Buyers will have three floorplans to pick from, ranging in size from 2,500 to 4,000 square-feet, and – aside from the basic floorplan – are all fully able to be customized to residents’ tastes, with amenity options that include large sliding glass doors and windows, glass staircases, pivot doors, kitchen amenities, spa style showers, and much more.

Lakeview Ridge has already sold four residences and counting, and Tri Points already has four other such communities in the works in Southern Nevada for this year.

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 new report by Redfin shows that the median down payment by a homebuyer in the United States has fallen for the first time in five months, with a 1.5 percent year-over-year overall drop – falling to $64,000 – as of December 2025, the most recent month for which data is available.

However, when the country’s 38 most populous major metropolitan areas are examined individually, that amount of decreases varies wildly; in Las Vegas, for example, the median homebuyer’s down payment dropped to $34,125 in December 2025, which represents an 18.8 percent decline from the same period of time in 2024.

The down payment data referenced by Redfin is limited to transactions for which buyers took out a home mortgage.

While median home prices increased overall to a slight degree in December, down payments dropped in-part due to buyers putting down a lower percentage of the purchase price when compared to the same period of time one year before – 15.2 percent in 2025, in contrast to 16.7 percent in 2024.

Redfin Principal Economist Sheharyar Bokhari noted that home affordability issues, combined with a tight economy and high inflation, are driving buyers on a budget to look for more modest dwellings in order to save money.

Down payments may be falling in part because Americans are seeking out more affordable homes due to high prices, elevated mortgage rates and economic uncertainty,” he said. “Sellers typically prefer buyers who make large down payments because it signals financial stability, but sellers don’t have much say in today’s market. Buyers hold the negotiating power because there are more homes for sale than people who want to buy them.”

The median down payment percentage was highest in San Francisco (25 percent), San Jose (23.9 percent) and Anaheim (21.4 percent). It was lowest in Virginia Beach (3 percent), Atlanta (8.4 percent) and Las Vegas (8.4 percent).

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 the housing market has proven difficult to navigate for much of the nation in recent years due to numerous factors such as high prices and interest rates on home loans, a new Redfin survey indicates that the trials and tribulations of homeownership are proving to be nearly twice as hard on single people as opposed to married ones.

According to the survey, which was conducted in November 2025 amongst 4,000 U.S. residents, approximately two-thirds of single people – 64 percent – found it to be a serious hardship to be able to afford their rent or mortgage payments, as opposed to 39 percent of married people.

Both rents and home sale prices have risen considerably prior to the levels they were at before the pandemic, with rents currently 20 percent higher and home prices up nearly 50 percent; wages have increased as well, but not nearly at the same rate as housing costs and other day-to-day living expenses.

But still, married couples are having an easier go of it when it comes to their ability to afford housing when compared to singles, and Redfin has narrowed down the reasons why to three important factors.

First, household income for single people is generally lower, and when they find themselves paying prices better suited to a double income, financial strain nearly always follows. 48 percent of single survey respondents noted that they make less than $50,000 annually, whereas 62 percent of married people bring in a combined income of $100,000; 21 percent bring in up to $500,000.

Second, single people lack the tax advantages that married people can partake in, who also typically tend to split common household expenses – groceries, utilities, etc. – that single people are solely responsible for.

And finally, single people on average are younger than married couples, and as a result are typically in the earlier stages of their careers and have not reached their maximum earning potential yet, nor do they usually have much money saved up; they are also often in the process of paying off student debt as well.

These three factors contribute greatly to single people having more difficulty when it comes to the costs associated with housing than married people, but with more and more local governments addressing the ongoing national affordable housing crisis, new policies and developments are coming along that may help to address this discrepancy in the future.

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 the Las Vegas Review Journal, the number of homes owned in Las Vegas, Nevada by Black residents is below the national average, based on a new report by personal-finance website LendingTree examining the concept of racial disparity in the residential real estate market in the United States.

LendingTree noted in their report based on all homes in the Las Vegas area, only 32.8 percent of them were owned by African American people; in terms of the national rankings of the nation’s 50 largest major metropolitan areas, this placed Southern Nevada in 43rd place in terms of that demographic.

However, the metro with the lowest number of African American homeowners was San Jose, California, at just 29.2 percent; in contrast, Atlanta, Georgia had the highest number of African American homeowners with 55.3 percent.

And when all 50 metros examined in the LendingTree report were averaged out, the homeownership rate was an overall 43.6 percent; this represents a significant drop when compared to the proliferation of White home ownership in the country across those same 50 metros, which was at 70.3 percent.

LendingTree based their report on data pulled from 2024 and released during the current Black History Month, with the company’s Chief Consumer Finance Analyst Matt Schulz noting that the main driving factors of homeownership disparity in the country tends to involve income and credit scores.

Schulz said that, nationally, the average income of White households in 2024 stood at $88,010, whereas it was $56,020 among Black households.

Without sufficient income and decent credit, getting a home can be a major challenge, and Black Americans still trail well behind White Americans and other groups in those areas,” he said. “Until that changes, that gap will likely remain. Add lower income to the mix, and it becomes nearly impossible in some places.”

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 – Several Southern Nevada real estate agents are reporting that they have recently been seeing an unusually large influx of affluent residents from neighboring states such as California and Washington come to Las Vegas to escape their home states.

There are multiple factors at work that are diving this “full-scale migration of wealth” to Las Vegas, members of the Vegas real estate industry say; among them are the results of a recent election in Washington, which saw the city of Seattle elect progressive Democratic candidate Katie Wilson to the office of Mayor.

Wilson had campaigned on the promise of instituting a large number of social programs if elected, funded by a big increase on the taxes of the city’s wealthiest residents; in addition, a proposed “millionaire’s tax” in Washington was also recently endorsed by the state’s Governor, Bob Ferguson.

In addition, a capital gains tax was also implemented in Washington in 2022, with investment properties over $278,000 receiving a 7 to 10 percent charge.

The wealthy in California don’t have it any easier, either. The state has proposed a “billionaire tax” that, if passed, would force billionaires to pay out a one-time tax equal to five percent of their wealth; the bill – which if passed, would retroactively go into effect back to January 1, 2026 – is set to be voted upon in November, and has even the state’s Democratic Governor, Gavin Newsom, expressing concern.

As a result of these policies in Washington and California, Virtue Real Estate Co-Owner, Broker and CEO Darin Marques noted that he’s seen the number of rich transplants from those states to Vegas go into “overdrive” in 2025’s third quarter, with Henderson proving to be the most popular spots for these affluent out-of-state residents to relocate to.

We’ve seen it in the last 90 days really,” he said. “Starting in about September, we all of a sudden started seeing all these people from Seattle and it’s just grown since then.”

Ivan Sher of IS LUXURY Real Estate said that he’s also seen a large bump in the number of wealthy transplants recently.

We’re seeing a noticeable influx of high-net-worth buyers from Washington and California coming to Las Vegas, and a big driver is tax policy,” he said. “But it’s not just about taxes. Vegas also offers a compelling lifestyle. As proposals shift in those states, people are proactively positioning themselves in markets like Nevada where the tax environment is more predictable and the quality of life is strong.”

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 – The latest rental market figures for February 2026 show relatively steady conditions in the Las Vegas Valley after a modest winter uptick. According to Zillow, the average rent for all bedrooms and all property types now sits at approximately $1,940 per month, roughly $25 higher month-over-month but still about $60 below year-ago levels. Meanwhile, Zumper’s median rent across all bedroom counts remains near $1,795 per month, reflecting a market that is broadly stable with only modest movement in the last 30 days.

What the February numbers show

Taken together, these indicators suggest that Las Vegas rental pricing has largely leveled off as winter turns to spring rather than seeing broad acceleration or sharp declines in asking rents. Zillow’s February average of $1,940 shows how advertised rents have stayed clustered near where they were in January, holding a modest discount compared to early 2025 figures. Similarly, Zumper data indicate minimal month-over-month shifts in median rents, with most of the recent variation occurring within specific bedroom categories rather than across the market overall.

By bedroom and property type

Public data from Zumper and Apartments.com highlight meaningful differences by unit size and type in early February:

• Apartment averages from Apartments.com show typical rents near $1,269 for one-bedroom units and about $1,531 for two-bedrooms, with studios near $986 and larger three-bedrooms around $1,840.
• Zumper’s rolling figures indicate that median rents for individual bedroom counts have mostly held steady in the past 30 days, with studios near $997, one-bedrooms roughly $1,108, two-bedrooms near $1,450, and three-bedrooms about $1,975.
  These splits underscore the continued spread between smaller apartment stock and larger homes or multi-bedroom units, where more space and features can command higher monthly premiums.

Month-over-month and year-over-year trends

From a short-term perspective, Zillow’s roughly $25 increase from January to February suggests mild firming in advertised rents as the market has moved out of the holiday season and into early Spring. On a yearly basis, however, the same series remains lower than February 2025 levels, confirming that the Las Vegas rental market has not fully recaptured the peaks seen in recent years. Zumper’s median also continues to sit below the national median, emphasizing Las Vegas’ relative affordability in the current market context.

What this means for Las Vegas homeowners

For local homeowners considering renting out a property in 2026, the February data point to a market that is stable but competitive. Rents aren’t declining sharply anymore, but tenants still have options, which can make aggressive pricing counterproductive. Properties that are well-presented, priced near current market averages, and professionally marketed are more likely to secure qualified renters quickly. Owners who overprice – even by $50–$100 – may find vacancy periods lengthening in a market that is leveling rather than surging.

Homeowners unsure where their specific property fits relative to these broad figures should consider a free custom rent estimate based on neighborhood, square footage, condition, and recent comps, as broad metro averages do not capture the nuanced variations across different pockets of the Las Vegas Valley.

Data sources: Zillow Las Vegas rental market trends (average rent for all bedrooms and property types, as of early February 2026) and Zumper Las Vegas rent research (median rent and bedroom-level data, updated February 5, 2026), along with supplemental apartment trend data from Apartments.com (as of February 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 – In an attempt to address the ongoing housing crisis that is plaguing the Las Vegas Valley, it has been announced that a developer will be converting the former Cashman Center property – as well as the neighboring Grant Sawyer Nevada State Office Building, located near the downtown area – into over 1,000 new single-family homes.

The project, proposed by Lennar Corp. subsidiary Greystone Nevada LLC, was approved by the Las Vegas City Council on Wednesday, with development agreements officially to be formalized that will govern the project.

Councilwoman Shondra Summers-Armstrong said that she is 100 percent behind the project, as affordable housing options in Las Vegas are currently not at the level they need to be to accommodate lower-income families.

Summers-Armstrong noted that she was “demanding” while dealing with Lennar Corp. leading up to Wednesday’s vote, because the constituents of her district – Ward 5, with the proposed project being located at Washington Avenue and North Las Vegas Boulevard – deserve it.

We know that we need housing desperately, especially affordable and attainable housing within our community,” she said. “I was demanding as I am, because I really want our community, those folks who need this type of housing, to not get just any old thing.”

Lennar Corp. plans to build 781 homes at the site of the Cashman Center – located at 850 North Las Vegas Boulevard – and an additional 290 at the location of the Grant Sawyer building, at 555 East Washington Avenue.

Lennar Corp. originally won an auction in 2025 to purchase the 50-acre Cashman property for $36.25 million, later acquiring the 22-acre Grant Sawyer property from the state for $10.6 million.

A construction timeline has currently not yet been set, but the developments – after the existing structures have been demolished – will consist of three-story attached and detached homes with amenities that will include pools and a trail.

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 – Richmond American Homes officially closed in late January on the purchase of 18.4 acres of rural-area land for a Las Vegas housing project that has raised the ire of residents in neighboring communities who fear it will have a detrimental impact upon their quiet lifestyles.

The developer paid a reported $23.25 million for the southwest valley property, located just south of Blue Diamond Road at Tenaya Way, which will be home to an upcoming 99-lot subdivision that was approved by the Clark County Planning Commission in December 2025, despite strong opposition from locals.

Multiple people in neighboring areas who are worried that the Richmond American Homes project will bring an influx of traffic into their quiet communities, many of which consist of homes on large plots of land whose owners raise animals such as horses and chickens.

Notable among the concerned and vocal critics of the Richmond American Homes project is the magician Teller – one-half of the famous comedy magic duo and longtime Vegas headliners Penn & Teller – who has called the area home for nearly thirty years.

The area where part of Richmond American’s project is to be built is a designated Rural Neighborhood Preservation zone, which prohibits suburban-style housing with multiple homes in tight vicinity of each other on small parcels of land.

The five-acre section of the project that is situated within that zone means that the company will be mandated to build homes on half-acre lots instead. But the remaining 14 acres, which are outside the zone, will consist of 90 houses built in a more traditional, tightly-knit suburban style.

In an attempt to appease unhappy locals, Richmond American will be implementing a Nevada Department of Transportation-approved median cut on Blue Diamond at Tenaya that would enable drivers to bypass the surrounding residential area in order to access the developer’s new housing project once it is complete.

An official start date for development of the site has not yet been set.

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.