Category Archive : Condominiums

LAS VEGAS, NV – According to a new report by Redfin, the condominium market in the Las Vegas Valley is ranking among the most imbalanced out of the top major metropolitan areas in the United States, in terms of the number of sellers versus buyers.

The Valley’s condo market came in 13th out of the 50 major metros in Redfin’s report, with the number of sellers currently far outstripping buyers in the real estate marketplace. In August, there were 2,449 condo sellers in the valley, as compared to a mere 853 potential buyers; this represents a whopping 187 percent imbalance in favor of buyers, Redfin’s data says.

The national average in August was approximately 72.3 percent more condo sellers than buyers.

The median price of a condo in Las Vegas in August was $245,000, down from the peak price of $269,000 in June 2024; the record number of condos sold in Southern Nevada was 751 in April 2021 – in the midst of the buying frenzy that took place during the COVID-19 pandemic – but in August 2025, a mere 265 condos changed hands, Redfin said.

According to Redfin Senior Economist Asad Khan, the condo market in the valley is currently favoring buyers, and that gives them an advantage when negotiating for the time being.

Condo buyers can negotiate prices down and ask sellers for concessions, and they have a lot of options to choose from,’ he said. “Even though condo prices are still fairly high and HOA fees are rising, condos are still more affordable than single-family homes. That’s especially true for people planning to hold onto their condo for several years. With some would-be condo sellers pulling back, buyers may not have this much negotiating power for long.”

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Howard Hughes Holdings, developer of the Summerlin master-planned community, is currently considering adding a new high-rise condominium complex to the other projects they have erected in the area, including the Downtown Summerlin open-air shopping mall, apartment buildings, a baseball park, and a recently-opened retail shopping center.

David O’Reilly, Howard Hughes Holdings’ CEO, noted that he is weighing the possibility of building a high-rise condo off Sahara Avenue and the 215 Beltway, east of the outdoor mall on a plot of land that the company currently owns.

I think that’s a great use right now,” he said, using the high volume of sales of condos in Summerlin’s The Summit Club affluent guard-gated neighborhood as an example of how these types of housing units are currently in great demand in the region.

O’Reilly also pointed out that the area where they are contemplating building the high-rise is also ripe for retail and rental housing units. Office space is also being considered, although to a lesser degree than in years past due to the fact that COVID-19 was responsible for reducing the need for such accommodations because of the increase in remote work that has persisted following the end of the pandemic.

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

Howard Hughes Holdings 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – A swanky penthouse condominium situated within the clubhouse in Summerlin’s luxury guard-gated residential community The Summit Club has been listed on the market for a whopping $25 million, which – if it sells for that impressive price – would overshadow the previous record-holder of such a property by almost $9 million.

The current record-holder for the highest price ever paid for a condo in Southern Nevada is $16.25 million, which was originally set in 2021 at The Martin luxury high-rise tower, located in Paradise.

The Summit Club condo in question comes in at 4,929 square feet and boasts five bedrooms, five baths, and floor-to-ceiling windows – with a wrap-around balcony outside that wraps around three sides of the penthouse – offering breathtaking views of the surrounding area, including the Las Vegas Strip, a golf course, and mountains.

11660 Summit Club Drive 204, Las Vegas – $25,000,000.00

In addition to the views, the balcony also features a spa, a small pool, a hot tub, and an outdoor shower. Of course, as a resident the buyer would also have access to the resort amenities of The Summit Club itself, including a grocery store, a bar, lounge spaces, a pool, a fitness center, a spa, and a restaurant.

The listing agent, Ivan Sher of IS Luxury, said that the condo is at the very height of luxury and should appeal for those who are looking for – and who have the affluence to possess – the finer things in life.

The views are epic. This outdoor living space is what captures it for me. You have your pool and hot tub out here. It is really resort-style living. You can go down to your restaurant. There’s nothing like it. It’s the best of the best of the best,” he said. “It’s for a couple. It’s for somebody who wants their family to have access to the best, and they don’t want the upkeep of a home and yard.”

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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – The average sales price of condominiums in Las Vegas in 2024 reached an all-time record high of nearly $700,000, despite the fact that sales dropped to their lowest level in the past five years, as per a new report released by research firm Applied Analysis.

Condo prices in Las Vegas in 2024 reached an average of $697,890, which is a record-setting amount for Southern Nevada; this represents a year-over-year increase of 19 percent over 2023’s $587,823, which is a whopping jump of approximately $110,000.

The previous average high condo price of $598,383 was originally set in 2022.

2024’s average price per square foot of $537 was also higher when compared to the year prior, when that amount was $501, a year-over-year increase of seven percent.

The upwards trajectory of condo prices in Sin City aren’t showing any signs of abating any time soon, either; Applied Analysis currently tracks the listings of 21 high-rise condo buildings in Vegas, and noted that the average price of the 297 listings currently available is a whopping $989,506, with a square foot price of $637.

But despite the increasing condo values, their overall sales appear to be dropping. There were 604 sales that were closed in 2024, which is an 18 percent drop over the 736 sold in 2023. Following an increase in sales after the end of the COVID-19 pandemic, a record number of condo sales was achieved in 2021, when 1,159 were purchased; sales have been trending downwards ever since, however, with 944 changing hands in 2022.

According to luxury condo realtor Frank Napoli, condo sales have declined recently because owners are increasingly holding onto their units for a variety of reasons, leading to an overall reduced inventory in Vegas.

What I’m noticing, now, is a lot of these people who have bought high-rises in the recent years are buying these for long-term hold, either for a Nevada address, occupying full time or as an investment property,” Napoli 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – According to a new report by a local industry group, the prices of homes in Southern Nevada continued to drop in October for the second month in a row, while condominiums and townhomes – prices of which already hit an all-time high last month – continued to set records.

As per Las Vegas Realtors (LVR), the median price of a pre-existing, single-family home in Las Vegas in October 2024 was $475,531; this represents a $4,369 decrease from September 2024, when that amount was $479,900, itself a $100 drop from August. However, October’s house price numbers represent a 5.9 percent increase year-over-year from October 2023, when the price of a home was $449,000.

Currently, the region’s all-time record for single-family homes is $482,000, originally set in May 2022.

In contrast, October’s median price for condos and townhomes set an all-time record for the second month in a row, hitting $315,000 after reaching their highest level in history at $299,500 in September, with that number, in turn, surging a whopping $7,500 over August’s $292,000. October’s condo and townhome numbers represent a 14.3 percent year-over-year increase from October 2023’s price of $275,500.

LVR President Merri Perry Noted in a news release that many buyers had put their purchasing plans on the back burner while awaiting the outcome of the 2024 presidential election; now that that contest has been decided, she said she anticipates it to have a very distinct impact on the real estate scene, both in Las Vegas and nationwide.

It will be interesting to see what happens to the housing market now that the election is ending, since many national reports have suggested that uncertainty surrounding the election has made many would-be buyers pause their plans,” Perry said. “As this month’s report shows, recent trends are showing steady increases in inventory and sales surpassing last year’s levels.”

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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – As per a new report by Las Vegas Realtors (LVR), the median price of condominiums and townhomes in Vegas during the month of September hit their all-time high, while single-family home prices dropped ever-so-slightly still remaining perilously close to record levels.

In September, the median price of condos and townhomes in the Valley reached their highest level in history at $299,500, surging a whopping $7,500 over August’s $292,000 median price; this bests the previous record set in July when that amount was $296,000, and represents a 10.9 percent increase year-over-year.

As for pre-existing, single-family homes in Vegas, September’s median price was $299,500, a 6.6 percent year-over-year increase and an ever-so-slight decrease of just $100 from August’s $480,000 median price. September’s price, while infinitesimally lower from the month before, nonetheless remains just $2,100 shy of the region’s all-time record of $482,000, originally set in May 2022.

While real estate prices in Southern Nevada dropped slightly prior to the Federal Reserve’s half-percentage point interest rate cut in August, September overall saw prices rise yet again; single-family homes have increased in value in eight out of the nine months of this year so far.

LVR President Merri Perry nonetheless remained optimistic that the Fed’s rate cut – and the additional ones it plans to institute in the near future – will make homes in the Valley more affordable sooner rather than later.

The interest rate cut announced in September by the Fed can only help the housing market,” she said. “While I don’t think this will have a dramatic impact, it certainly helps people, especially prospective homebuyers.”

2.277 homes, condos and townhomes changed hands in Las Vegas in September, representing an overall decrease year-over-year among all three; home sales were 1.6 percent lower when compared to September 2023, and condo and townhome sales were down 12.1 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – According to a new report released by a Las Vegas-based real estate industry group, the prices of homes in Southern Nevada increased in July – continuing their recent upward trajectory – whereas the cost of condominiums and townhomes reached an all-time record high.

Las Vegas Realtors notes that the median price of an existing single-family home in Las Vegas last month was $480,000, which represents a 1.05 percent increase over June, when that amount was $475,000. It’s also a 6.7 percent jump over July 2023’s median price of $450,000, with current prices slowly crawling to meet – and possibly exceed, eventually – the all-time record high of $482,000, which was reached in May 2022.

Meanwhile, the median price for condominiums and townhomes broke the local Las Vegas record, reaching a new all-time high of $296,000; the previous record, originally set in May of this year and subsequently carried over into June, was $295,000.

Las Vegas Realtors President Merri Perry said that the fact that the mortgage industry in the United States is still charging high interest rates on home loans appears not to have deterred sellers in Southern Nevada – and across the country – from continuing to raise their prices on homes.

It looks like prices for homes here in Southern Nevada will soon follow what’s already occurred with condos and townhomes, which have been at record levels since May,” Perry said. “One bright spot for home buyers in this month’s report is that we continue to see more homes hitting the market and available for sale.”

At the end of July, there were 4,634 single-family homes listed in Vegas without any offers, which is a 31.5 percent increase year-over-year. In addition, there were 1,481 condos and townhomes listed without an offer, a 70 percent jump from July 2023.

A combined total of 2,764 existing homes, condos, and townhomes were sold in Las Vegas by the end of July, an increase of 5 percent for homes and 1.5 percent for condos in townhomes year-over-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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – With 2023 representing the slowest year for real estate in Las Vegas in over a decade, January 2024 showed a significant rebound with both home and condominium sales improving significantly, giving experts hope that the upcoming year will show great improvement as the national economy continues to stabilize.

According to a new report by Las Vegas Realtors, the prices of homes were higher – and the inventory lower – last month when compared to January 2023. The median sales price of an existing single-family home in January was $445,000, which represents an approximate 5 percent increase year-over-year. In addition, the median sales price of condominiums and townhomes in Las Vegas in January was $275,000, nearly a 9 percent increase from the same month one year prior.

Merri Perry, President of Las Vegas Realtors, noted that the escalating economy – coupled with the affordability factor that has long been associated with Las Vegas – is contributing to the improvements in the local real estate market in the new year.

Over the past few months, we’ve seen benefits from lower interest rates and relatively stable home prices here in Southern Nevada,” she said. “Now, if we could just get more homes on the market, we’d really be in good shape.”

Sales of homes, condominiums, and townhomes in Las Vegas totaled almost 2,000 in total in January, representing an approximate 12 percent increase in home sales year-over-year, and a 20 percent increase for condos in townhomes.

At the end of last month there were over 3,555 single-family homes for sale on the open market without any offers, which is a whopping 35 percent decrease from January 2023; in addition, there were more than 1,130 condos and townhomes listed for sale without offers, which is an 8 percent decrease.

The total combined value of all Las Vegas-based real estate transactions in January was more than $842 million for homes – a year-over-year increase of 19.6 percent – and approximately $139 million for condos and townhomes, up 17 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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – 2023 saw an impressive number of condominium sales in Las Vegas, with the highest-priced property that exchanged hands last year taking place courtesy of Mark Davis, the owner of the Las Vegas Raiders NFL team, who sold off his condo located in Summerlin’s affluent The Summit Club for a cool $10.5 million.

Davis – who had originally listed the condo for $13.5 million – purchased the 2,862-square-foot unit in March 2021 for $5.3 million, making the sale price a substantial return on his initial investment.

Clark County property records lists Stay Away LLC as the buyer of the two-story condo, which boasts two bedrooms, two three-quarter baths, one half bath, a great room with a fireplace, a large kitchen, and a balcony.

Davis made the decision to sell his condo because he wanted to be closer to West Henderson, where the Raiders’ headquarters is located. At the time of the listing, he reportedly stated he realized he would be unable to see the Raiders’ Allegiant Stadium from The Summit Club abode, which was “starting to drive me crazy.”

Davis currently has a $14 million home under construction at 77 Sunset Strip in the Henderson hillsides of Ascaya, where he plans to reside full-time.

The 15,000-square-foot Ascaya residence is being developed by luxury builder Blue Heron on a 6.3-acre plot of land that Davis purchased for $6 million. The three-story home is being built so that it resembles Allegiant Stadium – of which it will have unobstructed views – with the upper floor being patterned after the bridge of a ship.

Following Davis’ condominium, the number two condo sale in Las Vegas for 2023 was an $8 million tie between a 6,401-square-foot penthouse at Turnberry Place and a 3,922-square-foot condo at the Waldorf Astoria on the Las Vegas Strip.

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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Construction on the luxury high-rise condominium Cello Tower is slated to begin soon, with the ritzy residential complex to be connected to the Origin at Symphony Park mixed-use enclave in Downtown Las Vegas, according to Red Ridge Development. 

Cello Tower will be comprised of eight penthouse suites beginning at $4.5 million, along with an additional 240 one-and-two bedroom residences that will start at $700,000 and up. According to Las Vegas Mayor Carolyn Goodman, development of the high rise is intended to address the intense need for more housing in Las Vegas’ downtown area, and she praised Red Ridge’s CEO of Development, Patrick Brennen, for making the project a reality. 

Patrick Brennen is bringing us this wonderful project in a magnificent high-rise,” Goodman said. “People can live in the heart of the city, and there is so much to do with great access. The area is located in the center of our government with federal, state, city and county buildings. Patrick and his team have created this wonderful complex, which is walkable and bikeable along tree-lined streets and so safe.” 

Cello Tower will be comprised of 32 stories – the penthouses taking up the top two floors – and was designed by architecture firm Perkins Eastman. Buyers have the option to purchase as many penthouses on a given floor as they like if they wish to customize and/or combine them, up until the point that they either sell out or construction begins. 

The complex will feature numerous high-end finishes and appliances for its residents in addition to a great many amenities, including an elevated outdoor environment on the 25th floor featuring beautiful landscaping, gorgeous views, and a fountain; an exhibition kitchen and private dining room; pods for barbecues; a hyper-oxygenated resort-style pool; a TV media wall; a pet spa and park; and an entire 7,000-square-foot floor dedicated to wellness, including a full gym and spa facilities. 

Units at Cello Tower will go on sale by the end of 2023; construction on the high-rise is expected to be completed by 2026. For more information on Cello Tower, unit availability as well as to register a specific interest, please visit: https://originatsymphonypark.com/cello-tower

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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com

LAS VEGAS, NV – Realtors in Las Vegas have noted that sales of high-rise condominiums have gone through numerous ups and downs since the mid-2000’s recession. However, the latest surge in the market has been driven by something taking many by surprise: the phenomenon known as sports tourism, with the latest example being driven by an intense and unprecedented level of demand for high-rise apartments along the Las Vegas Strip due to the ongoing Vegas Grand Prix Formula 1 race. 

Heidi Williams, a Las Vegas realtor specializing in selling high-rise condos out of The Signature at MGM Grand, said that prices for luxury units at the complex “have increased anywhere from 30 percent to 50 percent depending on the type of unit” due to the Las Vegas F1, which runs along the Strip this week. 

I don’t think a lot of people understood how much money there was in F1 and how much money there is in the sport, in the backing (of fans),” Williams said. “I think that people are very excited about F1, and I think a lot of these people just want to be a part of it.” 

The 30-floor Signature at MGM Grand boasts 1,750 suites and offers condos ranging from 520-square-foot properties listed for $320,000 to 1,394-square-foot properties priced as high as $800,000. 

Williams noted that she began seeing purchases at the property related to the F1 race starting approximately nine months ago, with approximately 25 to 30 percent of her clients indicating to her that their condo purchases were specifically due to wanting to be in proximity to the race. 

The F1, running from November 16-19, has been anticipated to draw as many as 170,000 people to Las Vegas. The racecourse runs at the Formula One Pit Building across the street from the Signature off Harmon. From there, it heads down Koval Lane, circles around the MSG Sphere and then goes on Sands Avenue before turning onto Las Vegas Boulevard for a mile; from there, the course turns onto Harmon Avenue and then finally back toward the Pit Building. 

That being said, it’s no wonder units are being snapped up at The Signature at MGM Grand, as the building offers unique views of the racecourse that aren’t available to most spectators. Williams noted that many of the condos being sold at the facility are being purchased by people who solely wish to use them each year just to view the F1 race; The Signature at MGM Grand has a policy that allows units to be rented out when they are not “owner occupied,” thus allowing tourists to purchase them to generate income during the remainder of the year they are not residing there. 

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.

Christopher Boyle

Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management

www.shelterrealty.com