LAS VEGAS, NV – Sales for homes in La Cova, a new guard-gated, master-planned luxury community located in SouthShore Lake Las Vegas, officially commenced this week according to the project’s developer, Tri Pointe Homes Las Vegas.

Tri Pointe Division President Klif Andrews said that La Cova is a waterfront resort-style community whose homes will boast a luxurious European design aesthetic, right in the heart of Nevada.

La Cova introduces a new pinnacle for resort-style living in Las Vegas,” he said. “La Cova is an alluring opportunity for luxury buyers who want every day to feel like a getaway.”

The community’s unique look and feel was in-part designed by Woodley Architectural Group, with La Cova being comprised of 42 residences spread out amongst three enclaves on adjacent peninsulas. 38 homes are located along the shore of Lake Las Vegas, and the remaining four near the community’s edge, adjacent to the SouthShore Country Club golf course.

La Cova is going to be unlike any other place,” Andrews said. “The way we connect homes to the water, it’s like having your own private luxury resort. It gives buyers a rare opportunity to purchase something incredibly unique for our market.”

The homes on-offer in La Cova will offer six different styles to buyers and range in size from 2,800 square-feet to over 4,200 square-feet, with prices ranging between $2 million and $4 million. Designs blend modern-style Tuscan and Mediterranean influences and feature large windows for maximum visibility and backyards with lush, resort-style courtyards.

In addition, there are numerous high-end amenities available for these homes, such as detached casitas, workout rooms, executive offices, club rooms and upper-level balconies. Also, boating, paddle boarding, and many other sport and recreation options are available via the development’s waterfront location.

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 – Z Life Company, an eco-friendly residential developer that touts themselves as pioneers in sustainable, luxury real estate “focused on innovated structural design and contemporary experience,” broke ground on a new project in Las Vegas’ Arts District this past Friday.

“Midtown Plaza” will be a mixed-use facility comprised of six towers offering condominiums, hotel rooms, apartments, and retail options, located near the intersection of Coolidge Avenue and First Street.

According to Z Life Company Chief Operating Officer Anna Olin, her company has invested a significant sum into the city of Las Vegas, including $300 million for the Midtown Plaza project alone.

Olin noted that while the relatively quiet part of the Arts District located south of Charleston Boulevard has seen a surge in development and an influx of new businesses and foot traffic in recent years – restaurants, coffee shops, and numerous retail stores – the area of the district north of Charleston has not seen the same level of resurgence, having remained “unused for a number of years.”

Z Life Company’s decision to build Midtown north of Charleston reflects the company’s desire to help it rise to the same level of prominence as the rest of the Arts District, Olin said.

Midtown is slated to have 87 residential units – comprised of studio, one-bedroom, two-bedroom and penthouse options – with prices starting at a base level of $299,000, and accompanied by numerous high-end amenities such as energy-efficient appliances, all-electric interiors and access to a shared series of Tesla electric vehicles (EVs).

Midtown will be located at 921 South Main Street, and will be managed by Berkshire Hathaway HomeServices Nevada Properties, with retail sales represented by the Martinez Group.

“Midtown is unlike anything Las Vegas has seen before,” Matthew Martinez of the Martinez Group said. “We’re bringing together everything that makes downtown living exciting – walkable spaces, local businesses and modern design – all while keeping it accessible.”

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 – For all the dismal negatives of the COVID-19 pandemic, there was at least one positive: it set the residential real estate market throughout the United States on fire as people took advantage of low interest rates and the ability to work remotely to finally buy the houses of their dreams.

And that momentum is still being felt to this very day, albeit on a slightly diminished level due to rising inflation, a call by some companies to return to the office following the end of the pandemic, and interest rates on home mortgages currently hovering around seven percent.

But despite all of that, prices on homes in most regions of the country are still climbing due to the age-old laws of supply and demand, and Southern Nevada is no exception.

A new report by Stacker – utilizing data pulled from Zillow – reveals the 10 cities the Las Vegas-Henderson-Paradise Metro area where home prices are growing the fastest, with current values being contrasted with how much they have risen both year-over-year and from January 2018, which represents a five-year span of time.

#1. Moapa

• Current typical home value: $395,744
• Year-over-year increase: +$34,014 (up 9.4 percent)
• Five Year Increase: +$117,277 (up 42.1 percent)

#2. Logandale

• Current typical home value: $502,061
• Year-over-year increase: +$29,507 (up 6.2 percent)
• Five Year Increase: +$162,298 (up 47.8 percent)

#3. Boulder City

• Current typical home value: $466,398
• Year-over-year increase: +$21,980 (up 4.9 percent)
• Five Year Increase: +$139,551 (up 47.8 percent)

#4. Henderson

• Current typical home value: $493,510
• Year-over-year increase: +$21,228 (up 4.5 percent)
• Five Year Increase: +$151,154 (up 44.2 percent)

#5. Jean

• Current typical home value: $279,687
• Year-over-year increase: +$19,393 (up 7.5 percent)
• Five Year Increase: +$74,819 (up 36.5 percent)

#6. Las Vegas

• Current typical home value: $431,505
• Year-over-year increase: +$18,665 (up 4.5 percent)
• Five Year Increase: +$140,027 (up 48.0 percent)

#7. Bunkerville

• Current typical home value: $372,305
• Year-over-year increase: +$17,883 (up 5.0 percent)
• Five Year Increase: +$116,560 (up 45.6 percent)

#8. Searchlight, NV

• Current typical home value: $244,317
• Year-over-year increase: +$16,172 (up 7.1 percent)
• Five Year Increase: +$96,572 (data not available)

#9. Overton, NV

• Current typical home value: $337,958
• Year-over-year increase: +$15,830 (up 4.9 percent)
• Five Year Increase: +$96,572 (up 4.9 percent)

#10. North Las Vegas

• Current typical home value: $411,389
• Year-over-year increase: +$15,050 (up 3.8 percent)
• Five Year Increase: +$132,089 (up 47.3 percent)

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

LAS VEGAS, NV – While housing in the United States may not be a buyer’s market, the overall burdensome economy – combined with sky-high home prices and mortgage interest rates still hovering at just over seven percent – have resulted in a growing number of sellers finding themselves forced into giving concessions to buyers in order to get bites on their listings.

According to a new report by Redfin, the current number of sellers that are offering some sort of concession to potential property buyers is 44 percent, which represents a whopping year-over-year increase of 39 percent. This signifies that the leverage sellers held on buyers in recent years is obviously starting to decrease, as market conditions are encouraging many who are looking to buy a home to wait things out in hopes that things improve.

One example of concessions being offered by sellers, as per the Redfin report, include a homeowner who had been attempting to sell a residence that required several costly repairs, including a new roof and a new boiler; the grand total for these repairs would have run any buyer an estimated $100,000 extra on top of the cost of the home itself.

However, this seller experienced multiple potential buyers in a row refusing move forward with the deal when faced with the extensive repairs, forcing the seller to carry them out himself before anyone would proceed.

During the height of the COVID-19 pandemic, when interest rates were much lower, this situation would almost certainly not been the case, but current high interest rates and ballooning inflation are causing buyers to become far pickier regarding how and when they spend their money, said Las Vegas Realtors President George Kypreos.

Most of the buyers are asking for something and they’re getting it,” he said, with Redfin noting that other concessions can include credit towards repairs or credit towards buying down their interest rate. The number of negotiations is going up, and while it’s not considered a buyer’s market yet, the scales are certainly tipping more in that direction than they have in several years.

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 – Formerly a quiet neighborhood free of the hustle and bustle of the Las Vegas Strip, the city’s Arts District is now seeing an uptick in foot traffic and activity as two new apartment complexes are currently under construction, with both slated to open next year.

A 337-unit apartment building is currently in the works, courtesy of developer Southern Land Company of Nashville, Tennessee. Located at the intersection of California Avenue and Third Street, the currently-unnamed project will be comprised of three seven-story buildings upon completion, and will offer a two-story fitness center and rooftop deck, in addition to ground-floor commercial and retail space.

According to Alex Woodin, Southern Land Company’s Development Manager, the complex is scheduled to open its doors for business early in 2026.

The second apartment building project that is currently under construction in the Arts District is situated at the corner of Commerce Street and Imperial Avenue, and upon completion will offer 311 apartment units and ground-floor commercial space, as well as tenant amenities such as a large fitness center and resort-style spa facilities that will include saunas.

According to co-developers Cedar Street Companies out of Chicago, Illinois and Bridge Investment Group of Salt Lake City, Utah, the project – which is also currently unnamed – is anticipated to open in the middle of next year.

For a number of years, the Arts District was one of the quieter areas of Las Vegas, with numerous vacant storefronts, empty plots of land, and a general lack of foot traffic; however, recently the neighborhood has seen an influx of businesses – including restaurants, coffee shops, and retail shops – that have attracted more and more people.

And with the Arts District’s growing popularity have come higher rents, not to mention the need for more housing options, which these two in-development projects should help to address.

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

LAS VEGAS, NV – According to a new study released by Construction Coverage, a company that specializes in researching construction software, insurance, and related services, Nevada, Georgia, Michigan and Arizona rank among the least stable states for real estate, and Las Vegas is currently the most volatile large housing market in the nation.

In order to gauge housing market stability in the long-term, the study utilized data obtained from Zillow to analyze home price trends across major metropolitan areas across the country. The markets in question were then ranked based on the likelihood that a random buyer would have experienced a price drop of over 5 percent following a purchase.

Based on that criteria, eight major metros displayed a greater than 40 percent chance of a 5 percent or more price drop, with Las Vegas ranking at the top of that list as being the most volatile.

Las Vegas has been the most volatile large metro, with a 48.5 percent probability of a 5 percent or greater price drop and a 63.9 percent peak-to-trough decline, amounting to a staggering $210,860 loss in home value,” the report reads. “While home prices in Las Vegas have increased 182 percent since 2000, reaching a median value of $428,434, this growth has come with severe price fluctuations, particularly during the housing crash of 2008 and the rapid price corrections following the pandemic-era boom.”

The city’s high volatility can be attributed to speculative investment, a tourism-dependent economy, and a rapid influx of new housing supply, which amplifies both booms and busts,” Construction Coverage adds.

In contrast, the reports names South Dakota, Oklahoma, Alaska, Iowa, and Vermont as the states being the most stable, and Buffalo, New York as being the least volatile city.

When asked about his thoughts regarding Construction Coverage’s study, Chairman and CEO of Coldwell Banker Premier Bob Hamrick said that two events shaped the current real estate market in Las Vegas – the Great Recession and the COVID-19 pandemic; however, he noted that the market in Southern Nevada is showing signs of returning to stability.

I’m hearing that we have a balanced market now,” Hamrick said. “We do have a balanced market when you look at the period of time. It’s over a 25-year period of time. When you look at that period, there were two monumental events that took place then— both of which had significant impact on 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.

LAS VEGAS, NV – The first half of 2025 will see more than 100,000 Nevada residents hit with increases to their homeowners and renters’ insurance, with some experiencing huge spikes of up to 25 percent over what they’re currently paying now.

The Nevada Division of Insurance (DOI) has approved twelve insurance companies to institute rate changes through the month of May; most of these companies already bumped up their rates in January, but more – and potentially costly – changes are yet to come for some of their customers.

Before a rate change can go into effect, all insurance companies must run the proposal past the DOI for a detailed and in-depth review. The DOI notes that it only approves rate change requests if they are deemed not to be “excessive, inadequate, or unfairly discriminatory.” Likewise, the agency also makes sure that insurance companies are afforded a degree of protection as well.

The mission of the Nevada Division of Insurance is to protect the rights of Nevada consumers in their experiences with the insurance industry and to ensure the financial solvency of insurers,” said the DOI.

Root Insurance had originally requested to raise tenant insurance rates by 55.3 percent for several hundred Nevadans; however, only a 25 percent increase was ultimately approved. Other insurers that requested rate increases for sundry policies of varying amounts included Hartford, Trumbull, Mercury Casualty, American Modern Property and Casualty, Foremost, Acuity A Mutual, Nevadans with Travellers Property Casualty, Country Preferred, American Economy, and Privilege Underwriters Reciprocal Exchange.

The reason for this round of homeowner and renter insurance rate changes in Nevada, as per the DOI, is due to multiple reasons, not limited to inflation driving up costs related to real estate – such as building, repairing and maintaining residences, including the materials and the labor associated with doing so – as well as older homes in the state needing more upkeep, and the potential threats of natural disasters.

Real estate and home values have risen. Inflation, construction materials costs, and skilled labor availability are driving up the costs of rebuilding and repairing properties,” a DOI spokesperson said. “Nevada’s housing stock is aging, which means key home components – such as roofing, electrical systems, and plumbing – may require updates or maintenance.”

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 – After several months in a row of ebbing and flowing and coming precariously close, Las Vegas home prices in January finally set a new all-time record for the region.

According to a new report by industry group Las Vegas REALTORS, the median price of an existing single-family home in Las Vegas reached $485,000 in January; this represents a whopping $10,000 increase over the previous month’s price and a jump of nine percent year-over-year.

The previous record high in Vegas was $482,000, set back in May 2022.

Brian Gordon, Principal with Applied Analysis, said that following a degree of stagnation in the local home market that saw inventory rise, recent renewed demand driven by an influx of out-of-state transplants – and a subsequent increase in sales – led to January’s significant jump in housing costs.

Prices have continued to rise. We’ve seen a decent amount of home sales take place over the last month,” Gordon said. “The demand side of the equation has continued. We continue to see people migrating in. We’re seeing people move in from California and other markets that are demanding housing.”

However, increased demand isn’t the only driving force behind rising home values; Gordon also noted that the costs associated with building homes have also been going up as of late.

The cost of land that’s ultimately required. The cost of building materials or labor,” he said. “All of that sort of factors into prices on the new home construction side and that tends to ripple through the real estate market. I think the resale market is also seeing some of that upward pressure on pricing as demand continues to persist.”

But, while this may create unfortunate barriers to affordable housing for some, the good news is that Vegas residents fortunate enough to already own a residence are enjoying a sizable jump in the equity that their home has been building up over the years.

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 potential trade war still brewing between the United States and Canada, Mexico, and China could have a negative impact upon the housing market – both in Las Vegas and nationwide – if it comes to fruition, real estate experts say.

President Trump had originally planned to implement 25 percent tariffs on goods imported from Canada and Mexico, along with a 10 percent tariff on Chinese imports, all of which were originally slated to begin on February 4. However, the tariffs against Canada and Mexico were placed on hold for 30 days after the two countries agreed to enter into discussions with the Trump Administration; the Chinese tariffs were not postponed, and went into effect on Tuesday as scheduled.

That said, experts say that the tariffs on China – and the ones on Canada and Mexico, if they eventually go into effect – could impact the U.S. housing market, with the costs of building materials expected to increase, and a subsequent and likely spike in inflation will cause mortgage rates to go further up.

Research Director of University of Nevada, Las Vegas’ Lied Center for Real Estate, Nicholas Irwin, said that it’s too early to tell what the overall effects of a trade war could be on the housing market, but it would probably have negative consequences given the slowdown issues it is currently facing due to high mortgage rates.

A wait-and-see approach is a good idea right now. I think also we could think better about the effect of tariffs on house prices if we were in a lower mortgage rate interest environment,” Irwin said. “If mortgage rates were 3 percent, then I would think a lot of these extra costs coming in for [building] materials would be passed on to homebuyers. But now with mortgage rates so high there is less ability to pass on the full costs, they might just have to absorb more of it. And it’s not just lumber from Canada, it’s cement, vinyl plank flooring from China, and all the other things that figure into that.”

However, Las Vegas mortgage advisor Matt Hennessy said that Trump’s initial announcement of tariffs had a noticeable positive impact upon the nation’s economy; but a prolonged trade war, if it comes to pass, would have the opposite effect.

Initially we are seeing a flight to quality as money flows out of the stock market and into bonds. Mortgage bonds and mortgage rates will be beneficiaries,” Hennessy said. “While the immediate impact may be perceived as good news for housing, it may be temporary. If inflation heats up as a result of tariffs, mortgage rates will rise. There are valid concerns surrounding the potential impact and renewed fears of an uptick in inflation as an unintended consequence by tariffs.”

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 luxury housing market in Las Vegas is already off to a very strong start in 2025, with January’s biggest sale coming in at a whopping $13.5 million for a high-end property located in the affluent The Ridges master-planned community in Summerlin.

Simply Vegas owner and listing agent of the sale, Gavin Ernstone, said that Las Vegas is off to one of the best years that its luxury housing market has seen in some time.

It’s a very busy start to the year,” he said. “We’re just seeing a very solid influx of people buying. The market is the strongest it’s been in about three years.”

Situated in The Ridges’ Azure neighborhood, the 12,445-square-foot home – originally built in 2013 – is located on a 0.89-acre plot of land boasting breathtaking scenic views and features five bedrooms, five full baths, four half baths and a four-car garage.

Situated on a huge, near-acre lot with utmost privacy and amazing mountain views, this home has style, finish and build qualities that are second to none,” Ernstone said. “It has a fantastic floor plan with dual primary suites with one up and one down. Both suites have gorgeous spa-quality baths and spectacular walk-in closets.”

The home also has many posh amenities, such as a large chef’s kitchen with Wolf and Sub-Zero appliances, a great room with a showcase wine cellar and large bar, and an upstairs game room that converts into a movie theater.

Multiple pocketing doors create the ultimate indoor/outdoor vibe and lead to an oasis-like backyard,” Ernstone said. “There’s an enormous pool, chic cabana, full outdoor kitchen and putting green that transform the yard into the ultimate private resort.”

The residence, located on Flying Cloud Lane, was a unique sale in the sense that it involved a transaction between two LLCs; according to Clark County records, Azure 53 LLC was the seller, whereas the buyer is listed as being Red Global 4 LLC, managed by noted entrepreneur, venture capitalist and philanthropist Darin Feinstein.

While much of the real estate market in Vegas has seen a slowdown amid skyrocketing interest rates on home mortgages; however, the luxury market has not faced such issues, as many of the deals carried out in that segment involve wealthy individuals who typically close their deals with cash.

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 the death and devastation brought on by the ongoing Los Angeles wildfires continues unabated in neighboring California – with countless unfortunate residents displaced from thousands of homes at this point – a real estate industry expert is anticipating the tragedy to begin impacting the housing market in the Las Vegas Valley, an area already dealing with a significant housing crisis of its own.

Many Los Angeles residents who have lost their homes due to the out-of-control fires may be considering looking to relocate to Southern Nevada, on either a temporary or permanent basis, according to the Director and Associate Professor of the University of Nevada, Las Vegas (UNLV) Lied Center for Real Estate, Shawn McCoy.

McCoy’s contention that Vegas could be expecting a mass migration of displaced Los Angelinos is based on a previous study conducted by UNLV in 2018 on a series of Colorado wildfires that took place between 2000 and 2012 that destroyed a total of approximately 360,000 homes.

Nevada Department of Motor Vehicles data says that Los Angeles residents make up the majority of out-of-state transplants into the Las Vegas Valley – 43 percent, to be exact – with nearly 158,000 of them opting to relocate to Southern Nevada between 2019 and 2024, the largest number of newcomers out of any other state in the country.

The chief reason cited for the constant influx of Californians into Nevada over the years has been affordability – the cost of living in L.A. is infamously expensive – and that trend is expected to grow as displaced Golden State residents flee to Nevada as the wildfires continue, which McCoy said could also seriously impact an already highly-competitive local rental market.

We may certainly see the fires in L.A. place upward pressure on rent locally in Las Vegas, both as a result of displaced L.A. households whose homes were damaged, but also from two other important groups,” he said. “Households near the wildfires but that were not directly affected by the fires may now hold a heightened awareness or concern of potential future fires and act on that heightened awareness by moving out. This may be especially true given research which shows that about 18 percent of the housing stock in the Palisades is multifamily housing.”

In addition, the valley could also see an increase of arrivals from those who had been thinking of moving to Los Angeles from out-of-state, but are now experiencing second thoughts by the abundance of destructive wildfires.

Think, for example, about households currently outside of L.A. or even the state of California who were in the process of considering a move to L.A.,” McCoy said. “These fires may change these households’ perception of L.A. fire risk and instead of moving to L.A. to rent, they may instead turn to other cities including 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.

LAS VEGAS, NV – Amid the ongoing wildfires that have already reportedly destroyed over 10,000 structures in Southern California – as well as taking into account the rising number of natural disasters that have rocked numerous regions throughout the nation – there has been an increased number of Google searches on the part of people who have been seeking out areas to potentially live in that are deemed safe in that regard.

A new study has ranked Las Vegas, Nevada as the number one safest major metropolitan area in the United States in which to live when it comes to the number and severity of natural disasters it experiences.  

Las Vegas’ ranking as the city with the least number of natural disasters in the country – as shown in the U.S. Disaster Avoidance Map – is influenced by a number of factors, including its unique geographic advantages, robust infrastructure, and booming local economy.

The devastation brought about by hurricanes, wildfires, earthquakes, and floods are unheard of in Southern Nevada – partly because it is situated far from coastlines and out of major tornado pathways –not only places Vegas far ahead of most other major metros ranked in the study, but it also results in the city having one of the lowest insurance claim rates in the entire country.

Overall, the U.S. has seen a rise in its number of natural disasters in recent years – which experts attribute to issues such as climate change and growing populations in high-risk areas – including the ongoing Palisades Fire in California, a disastrous calamity that comes on the heels of previous wildfires that caused massive damage to the state in 2023.

In addition, Hurricane Idalia in 2023 caused over $12 billion in damage in Florida in 2023, and multiple states – including Vermont, Kentucky, and Texas – have been forced to contend with major flooding events in recent years.

As a result of the aforementioned events – as well as many more not mentioned here – numerous Americans are starting to re-think where they choose to call home, and for many, Las Vegas will be at the top of their list.

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.