Las Vegas builders sounded an optimistic beat for 2024 and lauded what sports and entertainment has meant for their industry as they deal with a lack of land that continues to impact affordability.
Nevada HAND announced the start of construction on a new 125-unit affordable housing community dedicated to low-income seniors at the corner of Buffalo Drive and Cactus Avenue. The Buffalo Cactus Senior Apartments are part of nearly 2,000 units under development as Nevada HAND continuously works to address the affordable housing crisis in Nevada.
The highest sale in December was for $13.9 million in cash for a home under construction on Chisel Crest Court in Ascaya.
A Las Vegas Realtors report shows 2023 was the slowest year for local home sales in at least a decade, though local home prices increased slightly amid a tight housing supply.
The asking price for luxury homes remains elevated entering 2024 with eight homes listed at $18 million and higher.
December sales picked up for the Las Vegas new-home market as falling interest rates and lack of retail inventory pushed more people to buy, and that trend is expected to continue into 2024.
It was quite the active luxury market at the top end while sales of $1 million and higher were running behind numbers compared to 2021 and 2022.
Town homes continue to be in strong demand in the Las Vegas Valley as builders are bringing on new supply to meet that interest and provide a more affordable option to buyers dealing with elevated interest rates.
Interior designer Laura Sullivan doesn’t rely on Christmas décor trends. For 16 years, the owner of My Favorite Design Inc., has performed her holiday design magic, creating personal reflections for high-end clients.