The commercial real estate of Southern Nevada had a remarkable second quarter. The industrial market showed development. In a report from Nevada Business, Research Manager of Colliers International in Las Vegas John Stater said, “Southern Nevada’s industrial market posted 1.8 million square feet of net absorption in the second quarter of 2019, with the bulk
The housing market of Southern Nevada has been showing signs of stability in the supply-demand department. There’s nothing new to report monthly because metrics are unchanging. Residential real estate has been stagnant as seen in the past months. There is appreciation over the past 7 years at just 1.7% yearly. GLVAR President Janet Carpenter said
One of the biggest projects under construction in Nevada right now is the Las Vegas Stadium. The other ones include the development of The Drew, Las Vegas Convention Center, and Resort Worlds. The Las Vegas Valley retail market is moving in expansion mode in 2018 and consists of approximately 113 million square feet including 13.5
The prices of local homes advanced to the $300,000 mark last month. More homes were on the market now compared to last year. The median price for sold existing single-family homes stays at $300,000, which is 1.3% higher than in February and 7.1% higher than last year. There is also an increase in the median
According to CBRE Las Vegas’ report, Developers completed more than 3.1 million square feet of new space in 2018. A space of 10.8 million square feet is currently planned or under construction. This can make 2019 another record year for new construction in Southern Nevada. Las Vegas has one of the fastest job growth and
January 2019’s median price for existing single-family homes in Las Vegas was $300,000, which was an increase of 13.2% from $265,000 in January 2018. For condos, it was 13.4%, up from January 2018. January 2019’s median price was $170,000. These are from GLVAR’s new report released last February. GLVAR President Janet Carpenter said, “It’s interesting
This is a good time to buy a property in Las Vegas as local home prices dipped last October according to the Greater Las Vegas Association of Realtors. There are more homes in the market and fewer buyers as opposed to the previous year. GLVAR President Chris Bishop said that the market has changed. Inventory levels are up.