Category Archive : Market Updates

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.

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 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.

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 – Clark County has announced the launch of a new, never-before seen program for the municipality: a Las Vegas area Community Land Trust, with the stated goal being to help supply first-time homebuyers with affordable, attainable housing options in Southern Nevada.

County representatives have revealed that 240 homes will be developed for residents whose income levels are considered to be financially challenged. Eligible households must have a combined income ranging between $50,000 and $95,000 annually, which would put them at or below 100 percent and 80 percent of the median income in Clark County.

Those who qualify and who are able to purchase a new, affordable home will fully own it, however, Community Land Trust will retain ownership of the land it sits upon; officials say this arrangement will guarantee that the residences in question will maintain their affordability on a permanent basis, allowing the new homeowners to build equity they can potentially utilize in the future.

Clark County Commissioner Marilyn Kirkpatrick stated that a Community Land Trust is a time-tested program that has proven quite effective over the years in other areas of the country, and that she was excited to see it benefit Las Vegas residents who may be struggling to achieve the American dream of home ownership.

A Community Land Trust is not a new concept, but it is new to Clark County,” she said. “I am thrilled we are able to offer this program at such a critical time, when homeownership seems impossible for so many people.”

The county has scheduled for application submissions to begin in 2026 – an exact start date will be formally announced in the near future – although interested parties will first be required to take part in an informational session to learn the ins-and-outs of the Land Trust process.

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 – Las Vegas remains a hotbed of real estate investment activity in recent years, with business interests acquiring an increasingly larger and larger share of residential homes in Southern Nevada in the last decade-and-a-half, as per a new report.

According to the University of Nevada, Las Vegas’ Lied Center for Real Estate, data pulled from Redfin indicates that investors – defined in the report as those who buy homes through companies or trusts – have snapped up 492,634 in the Las Vegas Valley since 2009, with such activity so prevalent in the region that this group accounted for 23 percent of all the homes bought in the region in 2024 alone.

At the beginning of the Great Recession in the mid-2000’s, a mere 1,157 homes were owned by investors in Las Vegas, and while there is no data on exactly home many homes in the valley are currently owned by this group – as some has been sold over the years or have been traded between companies – Nicholas Irwin, co-author of the Lied Center report, says that the approximate overall number that remain in their hands is still alarming.

The scale of investor activity in the housing market has raised growing concerns about both affordability and the availability of homes within the single-family residential sector nationwide,” he said. “While investor ownership can expand the stock of single-family residential rental options, it simultaneously reduces the number of homes available for owner occupancy, further constraining supply in that segment.”

There was a great increase in the number of investor purchases in Las Vegas between 2009 and 2024 when compared to before the recession, Irwin pointed out, with the highest levels of transactions taking place in the wake of the COVID-19 pandemic.

Over this 15-year period, investors accounted for between 14 and 29 percent of all home sales each year,” he said. “In total, nearly 100,000 homes were purchased by investors meaning roughly one in every five homes sold during this period went to an investor. Investor activity surged during the post COVID years (2021–2022), reaching levels higher than those observed in the aftermath of the 2000s housing crash.”

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 – There are several neighborhoods in the Las Vegas Valley where rents on one-bedroom apartments are spiking, while there are others where that cost is steadily dropping, signifying that the current market is in a state of intense flux, according to a new report by online rental platform Zumper.

As for where the cost of housing is rising at the moment, in Winchester – located east of the Las Vegas Strip – rents on one-bedroom units this past October increased 12.3 percent when compared to the same period of time one year prior, making the neighborhood the second most expensive in the valley with a median rent of $1,460 a month.

North Las Vegas – which has a shortage of one-bedroom apartments in that municipality when compared to overall demand – also experienced an increase in rents, in this case by 15 percent year-over-year, with the median currently sitting at $1,300 per month.

However, when all bedroom types are taken into account, said Crystal Chen – one of the co-authors of the Zumper report – rents in North Las Vegas are actually slightly down when compared to one year ago.

One-bedroom units are significantly less common in (North Las Vegas), there are currently only about 30 active one-bedroom listings compared to roughly 270 three-bedrooms,” she said. “Since North Las Vegas has a higher concentration of larger three- and four-bedroom homes, the smaller-unit data tends to be more volatile and less representative of overall trends. When you look across all bedroom types, rents in North Las Vegas are actually down about 2 percent year-over-year.”

But Paradise clocks in at the single most expensive place in the valley when it comes to one-bedroom prices, with the median rent now being $1,510; this represents an increase of 4.1 percent year-over-year, which is likely influenced by the neighborhood’s close vicinity to the Las Vegas Strip.

In contrast, the neighborhoods that saw the largest decreases in one-bedroom rents in October when compared to last year were Spring Valley with 5.7 percent year-over-year, for a median of $1,320; the city of Las Vegas, down 4.2 percent to $1,150; and Henderson, which lowered 4.1 percent to $1,420.

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 developers of a new luxury high-rise condominium building in Henderson that is currently underway has just obtained a $686 million loan for construction financing from J.P. Morgan, Sculptor Real Estate, and Morning Calm Management.

Four Seasons Private Residences Las Vegas – which has already had an extensive amount of work put into the project – will, upon completion, take the form of 171 ultra-luxury condos spread amongst two high-rise towers on top of a mountain in the MacDonald Highlands community.

Despite still being in the midst of development – the side of the mountain has been chiseled out, roads are in place, and utilities have been run to the site and installed; the project has already garnered over $700 million in sales so far, with 75 percent of the residences already having been sold.

Currently, the leads of the project – Azure Resorts & Hotels, Luxus Developments, and Two Roads Development – are ready to begin vertical construction of the towers themselves in the very near future after foundation pouring is completed by the end of the year.

As for the ultra-luxury condos themselves, they are being designed by the noted architectural team of Wimberly Allison Tong & Goo, and 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.

Numerous posh 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.

Development of Four Seasons Private Residences Las Vegas is scheduled 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.

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 – Following a highly-destructive fire that laid waste to a long-dormant high-rise condominium project that was never completed, Clark County commissioners have approved a plan to construct a new apartment building in its place.

Las Vegas developer Brock Metzka, owner of Edward Homes, was given the go-ahead to build a five-story, 255-unit apartment building in the southwest Las Vegas Valley, along Maule Avenue near Buffalo Drive. Metzka originally purchased the 5.5-acre plot of land this past summer for $7 million, according to Clark County records.

The property upon which the new apartment building will be erected was originally the site of Spanish View Tower, a proposed project consisting of three 18-story condos by developer Rodney Yanke, who broke ground on the endeavor in the mid-2000s.

This took place during a period where multiple developers were in the midst of constructing many skyscrapers in Southern Nevada – known at the time as the “Manhattanization” of Las Vegas – but when the market crashed and the economy tanked during the Great Recession, many of these ambitious projects never came to be.

Among the aborted projects included Yanke’s Spanish View Tower; work ceased after the site was excavated and development of an underground garage had only just started. From there, Spanish View Tower existed only as a giant hole in the ground for over ten years, but in 2017 a plan by Las Vegas developer Tim Deters was approved by Clark County for build a 600-unit mixed-use apartment complex. Work was delayed for numerous years, but once construction finally commenced, a fire destroyed the in-progress building in June 2023.

Metzka’s new efforts on the property represent the re-building of Deters’ project, albeit with several changes from the previously-approved 2017 plans, including reducing the number of buildings on the site from three to one.

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 more and more construction projects are completed in an effort to address Las Vegas’ affordable housing crisis, apartment rents in Southern Nevada have dropped significantly, with a new report indicating a recent decrease of over four percent from 2024.

According to RealPage Market Analytics, apartment rents in September had plunged 4.1 percent year-over-year, which is quite a bit higher than the national average of 0.3 percent.

In the third quarter of 2025, the average rent of multifamily housing units in Las Vegas reached $1,451 per month; renters in the market have typically favored Class B and newer Class C properties for their cost-effectiveness due to affordability concerns.

Meanwhile, demand for apartments in Las Vegas continues to be fueled by its strong labor market and the steady influx of transplanted residents from outside of Nevada that it continues to attract.  

Large decreases in rent weren’t confined to Las Vegas, but instead was part of a broader West Coast phenomenon, where major metropolitan areas throughout that region noted the largest overall drops in the country in September. RealPage stated in their report that the cause was tied mostly to the market adjusting to national economic trends while absorbing new housing supply.

Las Vegas had previously been considered partially immune to national recession symptoms due to its economy being strongly propped up by its normally robust year-round tourism industry. However, Vegas has been recently experiencing a downturn in that regard as fewer people are traveling and spending money amid spiking inflation and the currently uncertain economic conditions in the country.

But despite the higher-than-average rent cuts in Vegas, they are not nearly at their highest points yet in recently recorded history; year-over-year drops reached 4.6 percent during the COVID-19 pandemic, and a whopping 10 percent in 2010 after the Great Recession hit.

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 Las Vegas Realtors (LVR), in October home prices in Southern Nevada remained just below their all-time record high, despite the fact that housing inventory is currently high and sales are down 10.1 percent year-over-year.

In October, the median price of a single-family home in the Las Vegas Valley was $474,370, which represents an approximate 1.0 percent increase from September’s price of $470,000 and a mere 0.2 percent drop year-over-year. The region’s all-time record high of $485,000 was achieved several times in 2025, most recently in July.

Home prices are remaining high in the valley despite a large surplus of listings and seriously lowered buying activity; sales in October were down 8.5 percent from September, as per data from the Multiple Listing Service, with LVR noting that 7,538 single-family homes were listed for sale at the end of October without any offers, representing a 30.3 percent jump year-over-year.

LVR President George Kypreos explained that the October report represents the continuing transition of Southern Nevada from a market where sellers were calling the shots to one where buyers now hold a distinct advantage. If there was ever a time for prospective homeowners to take advantage of the situation, he said, the time is now

Local home prices are moderating, with more homes on the market and properties taking a little longer to sell,” Kypreos said. “This shows that the housing market is shifting more in favor of buyers. For people who are prepared and can afford it, it’s a good time to buy.”

Meanwhile, the median price of a condominium or townhome sold last month in Las Vegas was $285,000, an approximate 3 percent drop from September’s price of $294,000 and a 9.5 percent decrease from October 2024.

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

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 sale price of luxury high-rise condominiums in Las Vegas in the third quarter reached an all-time record high, with that milestone bolstered by a sale at the Waldorf Astoria that was the second priciest of the year at $9.5 million.

In the third quarter, 199 high-rise condos exchanged hands in Southern Nevada, and while that amount was lower than the number of sales recorded in the first two quarters of the year – and the least sold since the second quarter of 2020, which marked the start of the COVID-19 pandemic – the third quarter sales figures made up for it in terms of quality over quantity.

The average sale price of a luxury condo in Las Vegas in Q3 2025 was an impressive $933,431, which amounts to $586 per square foot. This represents the new all-time record high for the region, with the previous record being set in the first quarter of 2024, when the average price was $816,717, as per research firm Applied Analysis.

While Q3 is now the current record-holder in terms of luxury condo price, it’s $586 per square foot average still ranks second when compared to the first quarter of 2024, when that price was $599.

Coming in third highest in the hierarchy of the condo prices is the second quarter of 2025, when the average sale was $749,854.  

The Waldorf Astoria $9.5 million condo – which was purchased in September, and again, is the second most costly of the year so far – ties as the most expensive in the hotel’s history, with the other sale for that same amount having taken place in January 2024. The condo sold in September boasts 3,922 square feet of living space on the 46th floor, with three bedrooms, three-and-a-half bathrooms, and a view of the Bellagio fountain.

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 – After finally securing the vital public funding required to carry out the project, construction officially began this week on a new housing tract that is being developed for the beleaguered residents of Windsor Park, whose original homes have suffered immense structural damage as a result of slowly sinking into the ground for decades.

Workers are currently doing site work at the location of the upcoming 93-lot subdivision, situated west of Martin Luther King Boulevard along Carey Avenue, after the city of Las Vegas granted developer Community Development Programs Center of Nevada – which was awarded a contract for $37 million in 2024 to build the new subdivision – a grading permit on September 15.

Windsor Park was historically home to a predominantly Black community. The neighborhood originally featured 241 homes built in the 1960s, but only about 90 remain today. Due to inadequate geological studies before construction, natural fault lines and the depletion of groundwater from an underlying aquifer caused the ground to shift, gradually sinking many of the homes.

The consequences to Windsor Park were dire over the years, with walls inside homes cracking, porches collapsing, and sewage pipes shifting and bursting.

The public funding to construct new homes for the remaining Windsor Park residents was originally approved in 2023, but development remained in limbo until only recently due to an alleged unmet deadline that threatened to yank the millions of dollars earmarked for the renewal of the devastated neighborhood off the table. However, Nevada State Senator Dina Neal (D-North Las Vegas) later confirmed that the state had indeed met the deadline, thus, securing the funding and enabling construction to finally proceed.

Funding for the $37 million project is made up of $25 million in federal COVID relief funds, and an additional $12 million from the state of Nevada itself.

This week’s commencement of construction on the Windsor Park project is an especially important milestone to the community’s long-suffering residents, who can finally look forward to moving into their new homes in the near 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.

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 – Trust Home Builders, a Las Vegas-based real estate firm, is currently constructing a new, upscale housing community in Henderson, in addition to having several other similar projects lined up for development in the near future as well.

The luxury community, dubbed Serene Estates, is located on six-lots located along Serene Avenue just west of St. Rose Parkway. Work is already well under way, and upon completion, it will be comprised of one-story, 3,950-square-foot and two-story, 4,545-square-foot home designs, which will range in price from $1.8 million to $2.2 million apiece.

Serene Estates will not have a homeowners’ association, according to the developer’s website.

Trust Home Builders co-owner Michael Johnson also notes that his company has multiple other projects in various stages of conception and development; in addition to a Lake Las Vegas project that is currently underway, there is a five-lot housing tract along Horizon Ridge Parkway near Gibson Road that will break ground by the end of the year, along with a six-lot project east on Horizon Ridge slated for 2026.

Johnson said that the main demographic his company is targeting with these communities are older people from out-of-state that are moving to Southern Nevada to retire.

Despite the local real estate market currently not favoring sellers and many buyers feeling nervous about acquiring a home given current high prices and borrowing costs, Johnson pointed out that his company is nonetheless pushing forward with their projects because his target buyers tend to be affluent – in-part due to the current healthy stock market – and thus may be more willing to take the plunge on a house then the average person.

There’s so much fear among buyers right now,” he said. “I’m not letting the soft market slow me down.”

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