Realty One Group - Shannon Smith Group

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February Update

Hi Friends,

Billionaires see the growth and opportunity, so should you?!?!?!

1. Last week, a Texas home builder purchased 200 acres in North Las Vegas for $42.5 million dollars.

2. Two weeks ago the BLM auctioned off 460 acres across the valley for $74.6 million dollars.

3. February 1. BKM Capital Partners acquired 13 buildings and a 4-acre parking lot, all on Pilot Road just south of the airport, for $92 million.

4. Jan. 16 San Francisco-based Prologis bought 57 acres in the northeast valley $9.5 million

5. Raiders Headquarters purchasing a 55-acre plot near the Henderson Executive Airport for $6 million.

6. 38 acres of land across Las Vegas Boulevard from the Wynn Las Vegas for $336 million.

The buzz in the Vegas real estate industry is sooo loud!! I can name another dozen very large, opportunistic sales that recently took place, and there are more to come!

I hate to sound like a broken record so I’ll just some it up by saying Las Vegas is full of opportunity and some of the richest people in the world know it and are taking advantage.

The coming years are going to be HUGE!!

As of today there are:

Single Family Homes
3,719 Single family homes for sale

3,591 of those homes are “Regular Sellers”

91 are Short Sales,

37 are Bank Owned

3,977 Homes that have contingent or pending offers

9,582 Sold in the past 120 days.

The median home sale price for last month was $268,000 or $146 per square foot.

Condos & Townhomes
710 Condos & Town homes for sale

695 of those properties are “Regular Sellers”

13 are Short Sales,

2 are Bank Owned

952 Condos & Town homes have contingent or pending offers

2,289 Sold in the past 120 days.

The median Condo and Town home sale price last month was $150,000 or $132 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!!