Hey Hey Friends,
At the second annual economic forecasting event hosted by the Las Vegas Global Economic Alliance and UNLV, all three speakers were highly optimistic for the future of Nevada’s economic standing.
Jeremy Aguero, principal analyst for Las Vegas-based Applied Analysis said, “We are well on our way to being not just the entertainment capital of the world but the sports capital of the world if we’re not there already,”
Overall, the research firm expects existing and future sports teams to add $636 million to the local economy.
“That’s 4,300 jobs for an industry we almost didn’t recognize as existing five years ago.”
Aguero said this impact could lead to growth in other industries, including medicine, construction, retail sales, marketing and transportation.
“We need to leverage the sports industry like we have leveraged our leisure and hospitality industry to open up doors relative to this.”
For example, T-Mobile Arena is the top-grossing arena in the world, with a concert capacity of 20,000 and an annual gross of $164.4 million.
But that doesn’t mean there’s not work to be done, Aguero said. Continued infrastructure growth on projects like the Raiders stadium have brought back thousands of construction jobs, and billions of dollars in investment to the city.
Las Vegas’s venues currently have a seating capacity of 260,000. After the Raiders stadium, the Las Vegas Ballpark and the MSG Sphere are complete, the city will have 352,000 seats online by 2021.
As of today there are:
Single Family Homes
6,859 Single family homes for sale
6,676 of those homes are “Regular Sellers”
95 are Short Sales,
87 are Bank Owned
2,755 Homes that have contingent or pending offers
9,902 Sold in the past 120 days.
The median home sale price for last month was $297,000 or $165.34 per square foot.
Condos & Townhomes
1,643 Condos & Town homes for sale
1,595 of those properties are “Regular Sellers“
22 are Short Sales,
26 are Bank Owned
672 Condos & Town homes have contingent or pending offers
2,495 Sold in the past 120 days.
The median Condo and Town home sale price last month was $164,000 or $148.48 per square foot.
If you’d like an update on how much your home is worth, I’d be happy to send you a list of comparables along with a complete market analysis.
Have a great month, and please continue to refer your family and friends to me!!
