The Little Team Real Estate Blog

As we near the end of 2018, we’re shifting into a more balanced market. This is good news for both buyers and sellers.

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What’s the latest news from our fourth quarter Las Vegas market?

With interest rates rising and the holiday season in full swing, activity has slowed down recently. There’s no need to panic, though—we’re still seeing a lot of sales. Although conditions still slightly favor sellers, we’re moving toward more of a balanced market.

This is good news if you’re a buyer. You have more homes to choose from and more negotiating power. Not only that, but more and more homes (especially in

Latest data from the Greater Las Vegas Association of Realtors is showing the average sale price for single-family homes in Southern Nevada reached $300,000 last month, representing the highest total since June of 2006 when home sale prices topped out at $315,000. 

Compared to August, the average sales price jumped 1.7 percent in September, while the year-over-year sales price spike represents a whopping 13.2 percent gain from $265,000 last year. 

Condos and townhomes in Las Vegas are also seeing sharp increases as average sold prices for attached properties are up over 21 percent to $170,000 compared to this same time last year. 

Overall sales are down, however, according to GLVAR, which could be directly related to a tight inventory and soaring

Finding the best possible deal is always one of the top priorities during a home search, even for luxury home buyers. So if you’re looking for a high-end home but still prefer to stay under that million dollar threshold, here’s a closer look at several communities that feature luxury listings under seven figures. 

Los Altos 

Neatly positioned in the Paseos Village of Summerlin, the gated community of Los Altos features a fabulous collection of single-family residences from Toll Brothers. Floor plans are expansive and offer anywhere from 3,094 to 3,822 square feet, while other common features include 10-12 for ceilings, casitas and multi-generation suite options, and plenty of desirable interior finishes throughout. 

Vineyards at The Arbors 

Every home buyer has a wish list of needs and wants in a new place to live and active adults are no different. Top priorities for many retirees searching for the right community often involve accessibility to lifestyle amenities, proximity to nearby attractions, and the cost of living within the community itself. 

As you probably already know, many 55+ communities can be quite pricey, especially if more services are offered to residents. But if you’re looking for the right active adult lifestyle around the Las Vegas area that won’t break the bank, here’s your best bet in finding the perfect fit…

Los Prados

The impressive golf course community of Los Prados invites new residents with its fantastic views and abundant amenities. Along with its golf

The Las Vegas real estate market certainly has its fair share of luxury homes and estates that can make any home buyer's jaw drop. Many of these homes lie in gated communities and country clubs all over town, but what truly makes Las Vegas unique is that buyers don't necessarily have to have a multi-million budget to enjoy all the benefits a gated community offers. In fact, if you're hoping to find the right gated home in Las Vegas for under $500,000, here are several neighborhoods that may just be the perfect fit.

Painted Desert

Painted Desert may be known for its championship golf course, but this golf community has much more to offer its residents. The community also enjoys a large clubhouse with on-site dining, plus various options in housing.

Looking for luxury living in beautiful Henderson, Nevada? Explore all the extravagant and extraordinary homes found inside some of the area's priciest neighborhoods...

Foothills at MacDonald Ranch

Large homes and spectacular added features accent the desirable community of Foothills at MacDonald Ranch. The newer construction community offers up such luxuries as private theaters and wine cellars, plus country club amenities ranging from swimming and tennis to golf.

Ascaya

Custom homes make up the impressive community of Ascaya. Often in the multi-million dollar range, the homes also sit on large lots, with contemporary home designs that blend with the exceptional natural surroundings.

MacDonald Highlands 

The luxury homes of MacDonald

New luxury home sales are up an incredible 84% from last year. Here are a few reasons why this area of our market has been so successful.

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I’ve got a quick update for you today on the luxury home market in Southern Nevada. Unlike many other luxury markets across the country, our luxury home market remains very strong. In fact, we’ve seen an 84% increase in new luxury home sales in the last 12 months, as well as a 12% increase in resale luxury homes. Luxury homes are considered any homes priced over $750,000.

Why is our luxury market doing so well? For starters, we have affordability. We are

We’re still in a seller’s market in Las Vegas, but buyers in the lower price ranges have a great opportunity to find the right home and negotiate a great deal.

Looking to sell your Las Vegas area home? Check out my free home value calculator

Wanting to buy a home in Las Vegas? Search Las Vegas homes

As we move toward the end of summer, our Las Vegas real estate market is doing very well.

Under the $500,000 price point, we’re still in a seller’s market. In this range, we have just over a one-month supply of homes, and the median price is up 16% compared to earlier this year—a time when a lot of buyers were engaged in bidding wars and paying over the appraisal amount to get a home, especially under $300,000.

I’ve seen a small slowdown

It’s no secret that things tend to slowdown during the summer months, and that certainly includes the housing market in most major metros. But even as inventory starts to dwindle towards the beginning of every summer season, August and September still remain two of the best months to buy a home or condo.

According to statistics from multiple studies, potential sellers are more likely to list their home at the end of the summer over any other time of the year, providing potential buyers with more options and a better selection of listings to choose from when looking for the perfect new place to call home.

Along with that, active listings are also more likely to drop in price towards the end of summer as many already-active sellers begin to feel the pressure

It’s been a good year for Las Vegas homebuilders and that trend continued last month according to new data released by Home Builders Research. In all, 944 new-home sales were recorded in June, which is up a strong 11.7 percent from June of 2017.

But what’s even more impressive is that through last month, 5,156 new homes have been sold in 2018, and that total represents a 19.4 percent jump overall compared to the first 6 months of last year.

Also noted in the report is that new condos and townhomes accounted for 11 percent of June’s new home sales volume, which is also up 3 percent compared to last June.

New condo and townhouse should continue to remain steady moving forward given builders are already planning more attached home projects. Despite June’s