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Number of Las Vegas Homes Now Owned by Investors Now at Nearly 100,000

Number of Las Vegas Homes Now Owned by Investors Grows to Nearly 100,000

LAS VEGAS, NV – Despite a recently-reported cutting back on the part of investors when it comes to purchasing real estate in Southern Nevada, this collective group nonetheless has managed to acquire a sizable amount of property in the region in recent years, with a new report showing that these outside parties now own nearly 100,000 homes in the Las Vegas Valley alone.

As per a new report by the University of Nevada, Las Vegas’ Lied Center for Real Estate, over the course of the past 15 years, investors were responsible for one (1) out of every five homes that were sold in the valley, with such activity surging amid the outbreak of the COVID-19 pandemic before reaching its highest point in 2022.

And despite the cutback by investors amid the market’s overall slowdown, their activity in Las Vegas remains at a higher level than the national average; for example, in 2024, approximately 23 percent – or one in four – of all homes sold in the valley went to investors.

The high level of investor activity in Southern Nevada, according to the Lied Center for Real Estate’s Research Director, Nicholas Irwin,  is making it difficult for working-class families and first-time homebuyers to get a foothold and compete in the market.

What concerns me is that we’re still a blue-collar town, but we have white-collar home prices – and that’s untenable in the long run,” he said. “For a household of four, you need about $120,000 a year in income just to afford a median-priced home. Those people are our teachers, our nurses, our first responders. If they can’t afford to live here, they’ll move somewhere else — and that impacts everyone.”

Irwin noted that changing policies that govern the homebuilding market – such as enabling developers to increase their output – would go a long way in alleviating the issue, but unfortunately, it would take years for that to have any serious impact.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

Luxury Multi-Million Dollar Estates

Report: Prices of Luxury Homes in Las Vegas Increase 161 Percent Over Last Ten Years

LAS VEGAS, NV – A new report indicates that prices of luxury homes in Southern Nevada – defined as residences worth $1 million and up – are increasing at a higher rate than in the majority of other major metropolitan areas in the United States.

According to Redfin, over the course of the last ten years – from 2015 to September of this year – the median price of a luxury home in the Las Vegas Valley has increased by 161 percent, with that amount currently at $1.57 million; that also represents am 8.5 percent jump year-over-year.

This places the valley fourth in the country in terms of luxury home price appreciation over the past decade. Nationally, the cost of luxury homes has gone up by 82.5 percent since 2015, with the current median price being $1.27 million.

IS Luxury real estate brokerage founder Ivan Sher notes that one of the main driving forces behind the rapid growth on the value of high-end Las Vegas luxury properties is out-of-state transplants who are drawn to Southern Nevada to get more bang for their buck.

Redfin Reports West Palm Beach Tops 10-Year Luxury Home Price Growth as Traditional Giants Like New York Lag Behind
Note: Based on median luxury home prices in September. https://www.redfin.com/news/press-releases/redfin-reports-west-palm-beach-tops-10-year-luxury-home-price-growth-as-traditional-giants-like-new-york-lag-behind/

The Las Vegas market has been growing consistently, driven in large part by the migration of wealthy and ultra-wealthy individuals from states like Washington and California,” he said. “As those states impose higher wealth and inheritance taxes, many are relocating to Nevada, Arizona, and Tennessee. While tax savings are a primary motivator, these moves are also fueled by a desire for a more balanced, moderate economic climate. I expect this trend to not only continue but to increase as these states continually reinvent new ways to burden the wealthy.”

The Sun Belt – the region stretching across the South and Southwest – has seen the largest increase overall in terms of the increase of luxury home price increases, as per the Redfin report.

Several Sun Belt metros not only became more expensive-they moved dramatically higher in the national luxury price rankings among major metros,” it said. “Las Vegas and Phoenix both climbed 15 spots, the biggest leaps in the country, and Nashville, Orlando and Charlotte were close behind.”

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

Clark County Courthouse

Federal Judge Blocks Clark County’s Short-Term Rental Ordinances; No Longer Enforceable Pending Decision

LAS VEGAS, NV – Following a court hearing earlier this month, a federal judge has granted a preliminary injunction that blocks some of Clark County’s short-term rental ordinances from being enforced while a lawsuit against the municipality plays out through the court system.

Last Wednesday, U.S. District Court Judge Miranda Du – after a previous hearing held on December 5 – issued her ruling via a 14-page order after listening to both sides of a dispute between the county and the Greater Las Vegas Short-Term Rental Association (GLVSTRA).

Clark County is currently being sued by GLVSTRA – which is representing 856 homeowners in the lawsuit – as well as 15 other individual plaintiffs – including Airbnb – after homeowners have been forced to wait years for their rental licenses to be granted, losing out on thousands of dollars in potential profits in the meantime.

The lawsuit, filed in June, claims that 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.

The injunction issued by Judge Du blocks Clark County from enforcing five aspects of their short-term rental ordinances, including requiring a valid business license for operating a short-term rental unit; prior to the judge’s ruling, it was illegal to rent out properties for stays of 30 days or less within the county, with violators getting hit with heavy fines. Other elements of the ordinances that are now also off the table are rules regarding distance from casinos and other short-term rentals, occupancy limits, and trash management.

Judge Du had previously denied a motion on Clark County’s behalf to dismiss the lawsuit; the current injunction will remain in-place while the lawsuit proceeds.

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

Investors

Investors Cutting Down on Las Vegas Home Purchases; Largest Drop of Any Major Metro in U.S.

LAS VEGAS, NV – According to a new report released this week by Redfin, investors have recently begun cutting down on the number of homes that they’ve been purchasing in the Las Vegas Valley.

In the third quarter of 2025, the number of homes purchased by investors – who typically either utilize them as short-term rentals or flip them for a profit – decreased by an astonishing 20 percent when compared to the third quarter of 2024. This drop represents the largest out of any major metropolitan area in the United States during that same span of time, Redfin notes.

Investors, as defined by Redfin, are comprised of buyers with keywords such as LLC, Inc, Trust, Corp, and Homes as a part of their name, in addition to ownership made up of keywords that include association, corporate trustee, company, joint venture, corporate trust and family trusts.

Following the end of the mid-2000’s recession, nearly 500,000 homes have been purchased in the Las Vegas Valley by investors, with a recent study conducted by the University of Nevada, Las Vegas (UNLV) noting that this group – made up mainly of Wall Street-backed companies – could own as much as 15 percent of all homes in the valley; that number increases to up to 25 percent in North Las Vegas, the report says.

In the third quarter, 1,451 homes were bought by investors in the valley, and Redfin’s Senior Economist, Daryl Fairweather, said that there are several factors that explain why investors are pulling back on the purchases in Southern Nevada as of late.

Las Vegas has historically been a volatile housing market, growing in value when the market is hot, and losing value when the market is cool,” she said. “Investors are often the first to exit the market when the market cools, contributing to the volatility in home values.”

Shelter Realty Property Management specializes in the areas of  HendersonLas 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.

High rise residential building of flats with cladding being replaced with fire resistant materials

Growing Number of Developers Favor Building Las Vegas “Up” as Opposed to “Out”

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  HendersonLas 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.

Majority of Homes on Las Vegas Market Financially Out-of-Reach to Average Buyer, Report Says

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 HendersonLas 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.

Four Seasons Private Residences

Developer Secures $781 Million to Finance Ongoing Construction of Four Seasons Private Residences Las Vegas

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 HendersonLas 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.

Home Prices in Las Vegas Set Yet Another Record

Home Prices in Las Vegas Reach Yet Another All-Time Record High in November

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 HendersonLas 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.

Short-Term Rentals

Judge to Issue Decision on Clark County Short-Term Rental Enforcement This Week

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  HendersonLas 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 housing project near rural

Controversial Housing Project Receives Clark County’s Final Approval to Begin Construction

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  HendersonLas 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.

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

Newly-Built, Nearly 10,000 Square-Foot Henderson Estate Listed for $12.9 Million

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  HendersonLas 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 desert

Home Prices in Las Vegas Drop Year-Over-Year as Prices Nationally Inch Higher

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  HendersonLas 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.