Las Vegas Real Estate News

LAS VEGAS, NV – Amid the housing shortages that are plaguing Southern Nevada in recent years due to a lack of real estate to build upon, there is a growing number of developers who are vocally favoring the concept of focusing more on building Las Vegas “up” as opposed to “out.”

An emphasis on erecting more high-rise apartment and condominium buildings – as opposed to single-family homes – is being touted by some real estate stakeholders as a means to help Vegas alleviate its current issues with affordable housing as more and more people move in and its economy expands.

Among those in favor of Vegas building “up” is Brian Nugent – a real estate broker with IS Luxury – who noted the addition of more apartment and condo complexes could help families to afford places to live in the city.

As there is less and less land available for single-family detached homes, I think high-rises become more and more appealing,” he said. “So, I think there could be a need moving forward for more high-rises.”

Currently, the federal government owns about 88 percent of the land in Clark County alone, with over half of that property – 2.6 million acres – managed by the Bureau of Land Management (BLM). The failure to release parts of that land for development has contributed to the current housing crisis being experienced in the region, experts say.

BLM has been slow to release land for development to the private sector, and current estimates indicate that if that doesn’t change soon, the Las Vegas Valley could run out of buildable land by 2032, according to the economic consulting firm Applied Analysis.

Up until recently there has been land available in the valley and because Vegas has grown so much recently as a city and its population, it really just seems like in the last few years the conversation about running out of land has really picked up,” Nugent said. “Where in the past it was easy for developers to buy plots of land and do detached single-family home developments, because the land was readily available and I think as more and more of that land gets developed and less is available then the next logical question would be is it time to start going vertical?”

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 per a new report from personal finance website Bankrate, the majority of homes available on the market in Las Vegas are currently out-of-reach financially to the average buyer amid both soaring prices and high interest rates on mortgages.

Bankrate’s report notes that out of all the homes that are presently available on the real estate market in Southern Nevada, only 14 percent of them fall into the “affordable” category for the typical family. In contrast, the average number of homes that are considered affordable nationally is approximately 25 percent.

Low housing costs over the years have led to a population explosion in the Las Vegas Valley, but recently those costs have increased amid ever-rising asking prices and pricey borrowing rates. Due to this, many families looking to buy homes in Southern Nevada are finding it harder and harder to do so, and as a result, overall sales in the region are dropping significantly.

As per Bankrate, the average household in the Valley needs to be making $33,600 over and above their current annual income to be able to afford the price of a median-priced home. The median sale price of a single-family home in Las Vegas in November reached an all-time record high of $488,995, which represents a two percent increase year-over-year.

”With wages struggling to keep up, housing affordability has reached historically low levels in recent years,” Bankrate’s report said, noting that Southern Nevada is in worse shape in that regard than many other metros, with the ability to buy a home there “significantly harder today” than it was prior to the COVID-19 pandemic.

But with that being said, buying a home nearly anywhere in the country, at present, “is no longer as realistic as it used to be,” the Bankrate said, although buyers moving to Vegas from more costly cities – such as Los Angeles, California – would find the real estate market far more affordable in comparison, according to the report.

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 – $781 Million has been secured by the developer Concord Summit Capital (CSC) in order to continue to finance the ongoing construction of the upcoming The Four Seasons Private Residences Las Vegas, which is made up of $526 million from J.P. Morgan and $255 million from Sculptor Real Estate and Morning Calm Management.

Two Roads Development, Azure Resorts & Hotels and Luxus Developments – the leads on the project – are officially listed as the borrowing parties in the loan’s documentation.

With work already progressing on the project, Four Seasons Private Residences Las Vegas – when it is completed – will take the form of 171 ultra-luxury condos spread out amongst two high-rise towers located within Henderson’s guard-gated MacDonald Highlands community.

Developers have already chiseled out the side of a mountain within MacDonald Highlands, upon which the Four Seasons’ towers will be built; roads are also now in-place, as are utilities. But despite being early in its construction phase, the project has already garnered over $700 million in sales so far – condo prices start at $5 million – with 75 percent of the residences already having been sold.

Once the foundation is finally poured – which is scheduled to take place this month – developers will then proceed to begin vertical construction of the towers themselves. The afore-mentioned ultra-luxury condos are being designed by the noted architectural team of Wimberly Allison Tong & Goo, and Four Seasons is collaborating with luxury lifestyle brand and retailer RH Contract for furnishing options, which has proven to be a major selling point for their condos.

We are thrilled to introduce these custom RH package offerings exclusively to our future residents,” says Jim Reilly, president of Azure Resorts & Hotels. “This collaboration reflects our shared commitment to quality, craftmanship and effortless living.”

Condo sizes will range from 8,349 square feet of interior space to 3,555 square feet of private terraces, all offering views of the Las Vegas Strip and the McCullough Mountain range.

In addition, a variety of high-end amenities will be available to residents, including semi-private elevators, private garages, high-end designer finishes and fixtures by Wimberly Interiors, private chef services, in-residence wine cellars, a private screening room, over 6,000 square feet of state-of-the-art wellness facilities, multi-level resort-style pools, and a library located in the foyer of each building. There will also be a dedicated Director of Residences and a 24-hour Four Seasons concierge team, offering personalized, a la carte services on demand.

The construction of Four Seasons Private Residences Las Vegas is slated to be completed in 2027, at which time residents can begin moving 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 – Home prices in Las Vegas this year continue to set records, with November seeing them hit yet another all-time record high yet again. In Southern Nevada, the median sale price for an existing single-family home reached $488,995 last month, besting the previous record of $485,000 that was reached several times earlier in 2025, according to data pulled from the Multiple Listing Service by industry group Las Vegas Realtors.

However, despite – or perhaps because of – rising sale prices, the number of homes on the market without any offers in the Las Vegas Valley also jumped in November to 7,033, which represents a 26.3 percent increase year-over-year. Meanwhile, the number of condominiums and townhomes for sale without offers last month jumped a whopping 40.8 percent from the same period of time last year.

Las Vegas Realtors notes that the combined total of single-family homes, condos and townhomes that sold last month numbered at 1,918, which is a drop of 6.6 percent year-over-year for homes and 20.2 percent for condos and townhomes.

Las Vegas Realtors President George Kypreos said that while the prices of homes have remained at consistently high levels in the region due to a lack of developable land – and sales remain low due to high prices and borrowing costs – he nonetheless sees signs that the market in Southern Nevada is in a gradual state of change that is starting to favor buyers over sellers.

Even with this new record for our median home price, overall trends have been shifting more in favor of homebuyers,” he said. “We’re selling fewer homes. We have more homes available for sale. And we saw a nice dip in mortgage interest rates last week. All of this benefits people who are prepared and can afford to buy.”

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 December 2025 show continued softening across the Las Vegas Valley. According to Zillow, the average rent for all bedrooms and all property types now stands at $1,912 per month, reflecting a $13 decrease since November and an $88 drop compared to this time last year (Data last updated December 6, 2025). Zumper, which tracks median rent across all unit types, reports the citywide median at $1,795 per month as of early December.

Together, these indicators suggest that rental prices are easing slightly at the start of winter, a period traditionally marked by slower leasing activity.

Breaking It Down: Limited Public Data for December

In prior months, the rental market reports included:

• A house vs. apartment average rent comparison, and
• A bedroom-by-bedroom breakdown (e.g., 2-bed, 3-bed, 4-bed).

However, publicly accessible sources did not provide current or verifiable December 2025 data for those categories at the time of publication. To maintain accuracy and avoid relying on stale or speculative information, these detailed breakdowns have been omitted for this month.

What This Means for Homeowners

(Based on available public data)

Insights & Action Steps

Stay Competitive in a Cooling Market:
With both the average and median rent trending slightly downward, presentation matters more than ever. Clean, well-maintained homes supported by professional photos and responsive communication stand out in a slower rental season.

Consider Strategic Pricing:
While market averages provide helpful guidance, the ideal rent for your property still depends on amenities, upgrades, layout, and neighborhood. Slight pricing adjustments during winter months can shorten vacancy time significantly.

Monitor Upcoming Data in Early 2026:
As new reports are released in January and February, updated information on houses vs. apartments and bedroom-level pricing should allow for more detailed analysis once again.

Use a Local Expert for Precision:
A personalized rental analysis remains the best way to determine accurate pricing – especially during monthly fluctuations where general market data may not tell the whole story.  A free local rental analysis can dial in a price that attracts quality tenants while maximizing monthly income.

Note on Data Availability

Due to data limitations from public sources for December 2025, we were unable to provide a house-vs-apartment split or bedroom-by-bedroom breakdown. Those figures will be reintroduced once reliable, date-stamped metrics become available.

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 ongoing saga of short-term rental owners versus Clark County continues, as a U.S. District Court judge on Friday stated she would be issuing a decision this week regarding whether or not to allow the municipality to continue to enforce its ordnance governing the rentals while a lawsuit makes its way through the court system.

Clark County is currently being sued by the Greater Las Vegas Short-Term Rental Association (GLVSTRA) – which are representing 856 homeowners in the lawsuit – and 15 individual plaintiffs, including Airbnb, after homeowners have been forced to wait years for their rental licenses and lose out on thousands of dollars in potential profits.

The lawsuit claims the county – which GLVSTRA accuses of violating the First, Third, Fourth, Fifth and 14th amendments – botched the process to file for a rental license and punished unlicensed residents who attempted to rent their properties via heavy fines and liens against their properties.

Assembly Bill 363 was originally signed into law by the Nevada legislature in 2021, requiring municipalities to draw up regulations governing the short -term rental industries within their borders.

After approving a short-term rental ordinance in June 2022, Clark County had started a pre-application process for short term rentals in September 2022. 1,169 of the pre-applications they received were deemed eligible and the homeowners that submitted them were subsequently allowed to submit a short-term rental license application.

However, the process of approving these applications has been a slow and arduous one that has found itself ensnared in red tape; as a result, hundreds of applications are still pending years after having been submitted. Meanwhile, state law mandates that homeowners maintain expensive home insurance and pay annual business license fees, even if the residence in question has not yet gotten their license yet.

Nevada District Court Judge Miranda Du had previously denied Clark County’s petition to dismiss GLVSTRA’s lawsuit, and this week she is poised to decide if it will be allowed to continue its enforcement of its short-term rental ordinance while the lawsuit plays out through the courts.

We’ll wait and see what the decision is coming from the judge, but I think we felt good about it,” said Mark Hutchison, GLVSTRA’s lead attorney. “I think that the judge understood the arguments. I think that she really understood the irreparable harm that happens.”

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 proposed housing project located in a rural part of the southwestern Las Vegas Valley that has sparked controversy among its neighboring communities has received final approval from the Clark County Board of Commissioners to begin construction.

Final plans by Richmond American Homes to build a 99-lot subdivision on 19 acres south of Blue Diamond Road at Tenaya Way were approved by the Planning Commission on Wednesday. This development was much to the chagrin of multiple people in neighboring areas who are worried that the project will bring an influx of traffic into their quiet communities, many of which consist of homes on large plots of land and 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 three decades.

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 the engaged locals, Richmond American will be implementing a 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.

However, it remains to be seen if this will be enough for the neighboring communities, who have been especially vocal at Clark County Board meetings in their disapproval of the project.

Richmond American has not yet announced a start date for development of the housing project.

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 huge, brand-new estate located in an exclusive, private community in the Las Vegas Valley has just hit the market with an impressive price tag of nearly $13 million.

Situated within Henderson’s guard-gated, mountainside community of Ascaya, the sprawling 9,788 square-foot residence in question at 19 Boulderback Drive was listed in November for $12.9 million and features five bedrooms and nine bathrooms.

Work on the newly-built estate was carried out by a partnership between Skyline Development and West Point Development; Skyline president and CEO, Sam Khalil, noted that an extensive amount of planning was put into the project in order to make living there akin to residing in not merely a home, but “a luxury resort in the sky.”

This is the project I am most proud of,” Khalil said. “What makes this home so special is the amount of thought and process that went into it.”

Listing agent Kristen Routh-Silberman of Douglas Elliman of Nevada echoed Khalil’s sentiments by praising the estate’s uniqueness, saying “I don’t think you could do that house again.”

19 Boulderback Drive, Henderson – $12,900,000.00

From start to finish, the designing phase of the residence took more than a year and the actual construction nearly three, according to Khalil, who said that he specifically designed it to take advantage of the majestic views afforded by the neighboring Las Vegas Strip and Red Rock Canyon by choosing “every line, every material, every lighting angle” to ensure maximum visual impact.

The home boasts many high-end amenities, including a Wolf kitchen, full butler prep kitchen, four indoor fireplaces, two wet bars, home automation, pocket doors multiple kinds of tubs, a 1,200-square-foot pool, two outdoor fireplaces, and a sunken swim-up outdoor barbecue.

Despite the home being designed as an ultra-luxury estate with “European flair” and “subtle sophistication,” Khalil was quick to point out that doesn’t come at the cost of it not being homey and comfortable at the same time.

It’s not so luxurious in a way where you don’t enjoy living in it,” he said. “It’s really built for living, entertaining and relaxing.”

Click here to view full listing details for 19 Boulderback Drive, Henderson

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 luxury rental apartment complex is now in the early stages of development just south of the famed Las Vegas Strip, with two real estate firms located in the midwestern United States teaming up to make the project a reality.

The Cleveland, Ohio-based NRP Group – one of the nation’s top multifamily real estate developers, general contractors, and property management firms, according to the firm’s website – and Chicago, Illinois-based Waterton, a real estate investment and property management company with a focus on multifamily and hospitality properties, issued an announcement in October that they will be developing a 368-unit luxury apartment complex called South Valley.

Construction on the apartment complex – located at Las Vegas Boulevard and Erie Avenue, between the South Point and the M Resort and situated approximately 15 minutes south of the Las Vegas Strip – is slated to start “imminently,” with the first units expected to be ready for their respective tenants to move in during the middle of 2027, the two companies stated in a recent press release.

The project will take the form of two four-story buildings boasting numerous posh communal amenities, including outdoor seating areas with fire pits and a “well-appointed” club lounge, according to the developers.

In addition, the apartments themselves will spare no expense when it comes to luxury bells and whistles, including quartz countertops and subway-tile backsplashes in their kitchens.

This is not the first foray into the Southern Nevada real estate scene for either of these firms. Waterton has previously bought apartment buildings in the Las Vegas Valley, and NRP Group is currently in the midst of constructing several apartment projects in the region, including a luxury building in the southwest valley, a rental complex on Silverado Ranch Boulevard, and a North Las Vegas-based affordable housing complex.

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 S&P Cotality Case-Shiller index released earlier this week, home prices in Las Vegas dropped year-over-year in September, despite a national trend where prices have been continuing to creep upwards amid an overall sluggish real estate market.

Home prices in Southern Nevada decreased by 0.69 percent in September when compared to the same period of time one year prior, in contrast to the 1.29 percent increase much of the rest of the country reported during that same span of time, as per the S&P report.

National real estate dealings overall experienced their weakest performance since mid-2023, with markets that were previously considered “pandemic darlings” due to their high prices and demand during COVID-19 – such as Las Vegas, among others – now seeing their asking prices decreasing, in contrast to major metropolitan areas in the Northeast and Midwest, which have traditionally remained stable over the years.

Ultimately, the S&P report speculates that these developments represent a “reversion to pre-pandemic patterns where job markets and urban fundamentals drive appreciation rather than migration trends and remote-work dynamics.”

Las Vegas was one of many areas in the country that saw an explosion of home-buying activity during the pandemic, driven in large part by cheap borrowing costs; at its peak, buyers were snapping up homes left and right, regularly bidding far over asking prices and at times even doing so without ever having actually set eyes on the property itself. As a result of the intense demand, home prices in March 2022 jumped an astonishing 28 percent year-over-year.

However, as mortgage rates began to rise, the market began to cool, and by March 2023 Vegas home prices were down five percent from the year before.

Prices have still remained relatively high overall in Las Vegas, but are they expected to continue to decrease as buyers and sellers “are paralyzed by high prices and economic uncertainty,” according to the S&P report; as a result, buyers are no longer willing to pay top-dollar for homes in the region – the median price in Vegas last month was $474,370 – “because they simply can’t afford it.”

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 solar panels are often seen as a desirable feature among environmentally conscious home buyers, a new survey suggests that in Las Vegas’ luxury market they may actually work against a sale, with some buyers viewing them as a hindrance rather than a benefit.

A new survey conducted by Re/Max says that solar panels rank at the bottom of the list of preferred amenities for Las Vegas luxury listings, with wellness features such as spas, saunas and pickleball courts considered far more desirable. In fact, Vegas-based Re/Max agent Robert Little notes that, in certain circumstances, solar panels can actually be a detriment to a luxury listing these days.

I’ve had a multimillion-dollar listing with solar panels, and honestly, it can be a hindrance,” he said. “Unless the solar is paid off, buyers don’t care, even if it lowers energy bills. But when it comes to primary bathrooms and wellness features, absolutely, they’re a priority.”

As far as the pricier listings in Vegas go, Little said that if a buyer is interested in solar panels, they can easily add them in themselves later, but very few place priority on listings that already feature them…and some might even be turned off by them altogether.

Some even see leased solar systems as a drawback because they prefer to own everything outright and avoid extra payments or agreements,” Little said. “And since most newer luxury homes are already built with modern materials and systems, they tend to be more energy efficient than older homes anyway.”

According to a recent Solar Energy Industries Association Solar Market Insight report, over 144,000 homes in the state of Nevada currently possess solar panels. But despite their reputation for lowering energy bills, they are still not without cost, and that cost may drive off potential home buyers, according to Henderson-based The Roland Team founder Mike Roland.

It adds an extra cost that many buyers aren’t interested in, and if there’s a lease or monthly payment, that has to be transferred,” he said. “The buyer also has to qualify for that payment on top of their new mortgage. In some cases, it can even be the deciding factor in whether they qualify for the home. On top of that, solar is pretty much the wild west out here. Companies come and go, and getting transfer paperwork done or even getting someone to answer the phone at times can be a nightmare.”

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 second-priciest residential sale in Henderson so far this year closed last week, with a mansion located in the swanky MacDonald Highlands guard-gated community exchanging hands for the impressive sum of $14.25 million.

Second in price this year only to a sale that took place in July for the astronomical amount of $25.25 million, the recently-sold mansion was originally listed on the market by Kristen Routh-Silberman of Douglas Elliman in May of this year for $15.95 million.

The seller of the home is dental and medical support company PDS Health founder Stephen Thorne, along with his wife Pamela, who had previously bought the three-fourths of an acre property – which was empty at the time – for $1.6 million in 2013. Three years later in 2016 they began construction of their residence, utilizing the services of Las Vegas-based luxury developer Blue Heron Homes, notable for building the MacDonald Highlands home of former boxing champion Oscar De La Hoya, among others.

The two-story home features over 13,400 square feet of living space with seven bedrooms, nine full bathrooms and three half-bathrooms, with views of the Las Vegas Strip. It also boasts numerous amenities such as an infinity-edge pool and hot tub, a fire pit, heated covered patios, an outdoor kitchen and bar, an elevator, a wine cellar and tasting room, a game room, a billiards room and a gym.

The buyers, who are currently not publicly named, were represented in the deal by Ivan Sher of IS Luxury, who merely noted that they are a Southern Nevada family who had been looking for the right home to purchase for several years now, before finally landing upon Thorne’s sale.

They had three main priorities: big views of the Strip and the golf course, enough space for their growing family and a good-sized yard,” Sher said. “They wanted room for the kids and space to entertain, and this home checked every box.”

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.