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Las Vegas Real Estate Information (Feb ）)

Hello,

February is quickly escaping and passing again.
Las Vegas has been a bit cold on some days, but overall we seem to have had a mild and mild winter. The trees are beginning to bud,
and with the onset of spring, we are feeling the signs of allergies caused by the pollen and dust specific to Las Vegas.

Well, the other day, a headline in the Review Journal, "Summerlin developer selling land in new luxury housing enclave for millions," caught my eye. caught my eye.
In the midst of a housing shortage, six parcels totaling 3.8 acres were sold for an average of $6 million per acre. Wildlife habitat, even in desert areas, is dwindling.
Many are heartbroken that there will be fewer and fewer places for them. The people who occupy these dwellings will most likely not live here year round.
We will never know what the late Howard Hughes had in mind when he purchased this large tract of land in Summerlin, but the current massive development and transformation has been far more than we could have imagined.

The Las Vegas housing market continues to show resiliency and growth in February 2025.
According to recent MLS data, the median price of a single-family home reached $485,000 at the end of January, breaking the all-time record high of $482,000 set in May 2022.
This is a 9% increase from last January. Meanwhile, the median price for condos and townhouses was $293,000, up about 6.5% from $275,000 in the same month last year.
LVR (Las Vegas Realtor\ reports that there were 5,215 properties for sale and no offers at all at the end of January, up 46.9% from a year ago, while
condos and townhouses saw a 66.9% increase. Although home prices have been steadily rising,
mortgage rates have not fallen below 6% since August 2022, making it very difficult for buyers to find a home.

However, buyer demand remains high and sellers continue to actively market their properties. The new construction property market in particular is booming. Numerous new construction projects are underway, and
each new builder is popular for its smart home features and the latest building technology, especially insulation and soundproofing, in addition to very attractive mortgage rates. They are in very high demand, so
prospective buyers should consider them quickly.

According to Redfin data, the city where home prices fell the most last month was Tampa, Florida (1.6%), followed by Dallas, Texas (0.9%), and Oakland, California (0.7%).
The cities with the largest year-over-year increases in median sales price were Pittsburgh, Pennsylvania (14.8%Ch<), followed by Nassau County, New York (12.2%Ch<) and West Palm Beach, Florida (11.5%Ch<).
In terms of year-over-year growth in new construction, San Jose, California led the nation with 32.8%, followed by Oakland, California （ with 32.3% ） and Phoenix, Arizona （ with 23.2% ）.
Note that demand for office space in Las Vegas also seems to have increased significantly, perhaps due to DOGE.

By the way, have you heard of Sekisui House, Ltd. of Japan? ？
The company announced on April 19 last year that it had completed the acquisition of M.D.C. Holdings, Inc. in the United States and would strengthen its supply system for detached houses in 16 states and expand its business in the United States. The company also announced that it would expand its U.S. business by strengthening its supply structure for detached houses in 16 states.
Our global vision is to make ""our home" the happiest place in the world. Richimond American Homes, a well-known name in Las Vegas, also became part of this acquisition.
The fifth-largest homebuilder in the United States is planning a 40-unit luxury residential community in Summerlin West and will begin selling Shawood-branded homes on March 1.
This will be the company's first project in Las Vegas. The planned homes will range in price from approximately $1.4 million to $1.6 million and will offer three to four bedrooms and three floor plans ranging from 3,176 to 3,399 SqFt.
Unique design features will be incorporated, including a "kokage lounge" and "large shade trees" derived from "zero energy" Japanese culture.

A report released by real estate consultant RCLCO ranks Samarin fifth among the top 10 best-selling master-planned communities in the United States in 2024.
Celebrating its 35th anniversary, Samarin has more than 300 parks, 200+ miles of trails, multiple community centers, 10 golf courses, 26 public, private, and charter schools, and
an amazing array of amenities.
Come visit this well-maintained master-planned community and see for yourself. You will find something quite different from the casinos, the Strip, and downtown Las Vegas.

That's all the real estate information for February.

If you have any questions, please do not hesitate to contact us.
Thank you very much.