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Las Vegas Housing Market Information (April ）)

Hello,

Here is April's housing update and current Las Vegas conditions.

Townhomes and condos are currently selling for record amounts in Las Vegas.
The median townhome/condo price in April was $290,000 （ $ 290,000 ） which broke the August 2022 high of $287,000 （ $ 287,000 ）. Demand outstrips supply and is up 7% from last year. Condo and townhome sellers are seeing increased sales, due in part to the affordability of new construction: the number of condos and townhomes on the market in April was up 10.7% from last year and up 3.8% from March. New construction is also up 5.9% over last March and 29.5% over April.

The median price for single-family homes in April was $499,000 （ $ 499,000 ）, with 2,339 sales and a median listing price of $498,000 （ $ 498,894 ） and even The price has increased to.

Despite 20-year high interest rates, the Las Vegas real estate market has been active, with an increase in the number of listings, higher prices, and shorter sales days.

By the way, guess which company is currently building the most homes in Las Vegas ？
It is Lennar （ Lennar ） based in Miami, Florida. The company built the most homes in Clark County in 2023, about 1,879, and a record 547 in the second quarter. In the first quarter, 481 units were built.
Especially given the current high mortgage rates, new homes are attracting a lot of interest by using their own lending departments to offer flexible financing and incentives to buyers, making it easier for them to purchase.

According to Clark County, the highest sales volume during the week ending May 13 was in the SW Zip Code 89141 area south of Enterprise and the central area of North Las Vegas. According to a new study, North Las Vegas, which was hit hard by the housing crisis during the subprime mortgage crisis, has seen home prices double in the past seven years, one of the highest increases in the Las Vegas Valley and the nation.
Currently, the average home price in North Las Vegas is $410,000 （ $ 410,000 ）.

Have you heard of McDonald Highlands in Henderson ？ Four Season Private Residences is under construction in that Henderson luxury residential area. Forty-six percent of the 171 high-rise condominiums have already been sold. The two-tower project, which began selling in 2023 under the Four Seasons brand name, is expected to be completed in late 2026. The $1.3 billion （ $ 1.3 billion ） total project will be the first high-rise to be completed in Las Vegas since the late 2000s. Sales prices range from $3.5 million （ $ 3.5 million ） to $29 million （ $ 29 million ）.

Meanwhile, in the upscale neighborhood of West Samarin, Celine ・ Dion made headlines when she sold her Summit Club home, a house she never lived in, for $30 million （ $ 30 million ）. A year later, the house next door sold for $35 million （ $ 35 million ）. This is also a concierge community and currently has nearly 276 homesites. This includes custom slots, bungalows, villas and condos. The golf course clubhouse was completed last year. Summit Club dues are $250,000 （ $ 250,000 ）, annual fees are $110,000 （ $ 110,000 ）, and HOA fees for the residence are $3,000 （ $ 3,000 ） annually.

Additionally, new development is underway in the heart of downtown. The high-rise Cello Towers in the Symphony Park project has luxury condominiums for sale that blend sleek contemporary interiors with large floor-to-ceiling windows. Here you will find a total of 240 residences, including eight penthouses, a resort-style pool and spa, as well as a golf simulator, outdoor cigar lounge, and more. The estimated completion date for the development is Q4 2026, with prices ranging from $700,000 （ $ 700,000 ） one bedroom to around $6 million （ $ 6 million ） penthouses. I have attached a map of this neighborhood, Las Vegas Medical District （ Las Vegas Medical District, LVMD ） is located in the downtown area, which includes U.M.C. （ University Medical Center ）, Valley Hospital, Cleveland Clinic Lou Ruvo Center for Brain Health, and the UNLV School of Dentistry. With the addition of UNLV's Kirk ・ Kirkorian School of Medicine to that list, current Mayor Carolyn ・ Goodman says she is fully prepared for the next step. As a side note, this mayor was born in 1939 and is a Las Vegas resident first. I am simply amazed at how quick-witted she is, and I believe she will continue to work hard to make Las Vegas a better place. This neighborhood will continue to be one to watch.

Please refer to the attached document.