Greater Las Vegas Home Prices Dip in October, First Time in 8 Years

Greater Las Vegas Association of Realtors | November 07, 2019

According to a new report by the Greater Las Vegas Association of Realtors, home prices in Southern Nevada stalled to start fall, with fewer homes selling so far this year compared to last year. GLVAR reported that the median price of existing single-family homes sold in Southern Nevada through its Multiple Listing Service (MLS) during October was $307,000. That's down 1.0% from September but up 4.1% from $295,025 in October of 2018. Meanwhile, the median price of local condos and townhomes sold in October was $171,250. That was down 1.6% from $174,000 in October of 2018.

Spotlight

This home buyer infographic compares the different demographics of the first time home buyer versus the move-up home buyer. As one might expect, there are a number of differences including household income, size of down payment and more.

Spotlight

This home buyer infographic compares the different demographics of the first time home buyer versus the move-up home buyer. As one might expect, there are a number of differences including household income, size of down payment and more.

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REAL ESTATE TECHNOLOGY

EY announces alliance with Planon to help businesses optimize real estate, digital workplace and lease accounting programs

EY | July 21, 2022

The EY organization today announces an alliance with Planon, a market leading smart sustainable building management solution provider, and EY Advisory Netherlands LLP (EY Netherlands), to help businesses optimize their real estate and workplace strategies in achieving growth, long-term value and sustainability. The alliance has been activated in the Netherlands and the US with additional global expansion planned over time. As corporate offices play an enormous role in reaching a net-zero future, real estate managers are under increasing pressure to be transparent about the energy and sustainability performance of their building portfolios and to identify areas for improvement. The EY-Planon Alliance brings clients options for a seamless experience to fulfil their real estate and digital workplace needs with a focus on innovative technology and efficacy in implementation. This alliance supports client efforts to navigate the increasingly complex digital workplace, smart building and workplace experience arena with actionable and meaningful insights from the EY organization, combined with Planon's integrated workplace management solution (IWMS) and internet of things (IoT) platform. As leaders in the real estate consulting and technology marketplace, EY teams bring deep knowledge of real estate, workplace and facilities, and extensive experience in lease accounting and software implementation across a global footprint. Through the alliance offerings, clients will also be supported to meet compliance with lease accounting standards and create greater efficiency in portfolio management and process quality, which measurably helps reduce costs and contributes to the organization's overall performance. Bernd Kramer, EY Global Planon Alliance Leader, says: "The EY-Planon Alliance brings together the digital tools, systems and implementation experience of EY teams and Planon to support organizations seeking a comprehensive solution depot to reshape their real estate and facilities digitally. The alliance helps reduce the complexity arising from independent siloed systems through unified integrated platforms, helping organizations make better decisions, and act quickly and sustainably to develop a future-ready workplace." "Planon is thrilled to collaborate with the EY organization to leverage their experience in real estate and business consulting, their in-depth knowledge of the IWMS landscape and their thought leadership to help our clients achieve a healthy, efficient and sustainable workplace. As global leaders in our respective fields, the EY organization and Planon make a powerful team that will continue to help drive adoption of leading technologies for real estate and facility management, and add value for clients." Pierre Guelen, Founder and CEO of Planon About EY EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. About Planon Planon is the leading global provider of Smart Sustainable Building Management software that connects buildings, people and processes. By eliminating data silos and aligning solutions into one shared information platform, Planon provides all building stakeholders with actionable and meaningful insights. Independent market research and consulting firms have consistently rated Planon as a global leader in the market. Planon has implemented its comprehensive solutions for more than 2,500 clients, supported by offices and partners around the world.

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REAL ESTATE INVESTMENT

JLL Income Property Trust Acquires Grocery-Anchored Retail Center in Las Vegas

JLL Income Property Trust, Inc. and LaSalle Investment Management | August 10, 2022

JLL Income Property Trust, an institutionally managed daily NAV REIT with approximately $6.8 billion in portfolio assets announced today the acquisition of Silverado Square, a 48,000-square-foot retail center in Las Vegas, Nevada. The retail property is anchored by Sprouts Farmers Market, shadow anchored by CVS, and includes a parcel that is fully entitled for nearly 5,000 square feet of rentable retail space. Silverado Square was acquired for $24.4 million. "Silverado Square is a well-located property that fits within our thesis of acquiring high-quality, grocery-anchored retail centers, Its location next to two major thoroughfares and near a large master-planned community, along with its strong tenant roster and long-term lease commitments, should bode well for the center's continued success in generating stable income. As we saw throughout the pandemic, grocery-anchored retail is resilient, and can continue to provide returns for our stockholders throughout volatile market conditions." -JLL Income Property Trust President and CEO Allan Swaringen Constructed in 2018, Silverado Square benefits from a highly visible location on two thoroughfares in the Silverado Ranch master-planned community, which is home to more than 55,000 people. The property ranks in the top quartile of LaSalle Research & Strategy's proprietary Supermarket Trading Area Rating System (STARS), which ranks more than 40,000 grocery-anchored retail centers in the US. The high score owes to Silverado Square's proximity to population density and median income that are both above the national average. The property has a weighted average lease term of more than eight years, including a 15-year lease signed by Sprouts in 2018 that features 10 percent rent escalations every five years. Overall, the property is 98 percent leased. The fully entitled parcel, directly to the east of the existing structures, provides JLL Income Property Trust with the opportunity to build nearly 5,000 square feet of additional retail space and drive further net operating income. The new building will be leased by three tenants and is scheduled for completion later this year. JLL Income Property Trust's grocery-anchored retail allocation is 23 properties in 13 key markets valued at nearly $850 million and representing approximately 13 percent of its overall portfolio. JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world's leading real estate services firms. About JLL Income Property Trust, Inc. Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, grocery-anchored retail, healthcare and office properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. For more information, visit www.jllipt.com. About LaSalle Investment Management LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages approximately $82 billion of assets in private and public real estate property and debt investments as of Q1 2022. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments.

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REAL ESTATE TECHNOLOGY

The Jills Zeder Group, of Coldwell Banker Realty, Again Ranked No. 1 Large Team in the U.S. by RealTrends

Coldwell Banker Realty | June 13, 2022

The Jills Zeder Group, a powerhouse team of Coldwell Banker Global Luxury Ambassadors with Coldwell Banker Realty, have once again been ranked as the No. 1 large team in the entire United States, as announced in the 2022 RealTrends "The Thousand" list published in The Wall Street Journal. Per RealTrends, a large team ranges from 11 to 20 members. RealTrends ranked The Jills Zeder Group No. 1 on the list, based on achieving $2,250,764,707 in closed sales volume in 2021 and 367.60 closed transaction sides in 2021. Affiliated with Coldwell Banker Realty's offices in Miami Beach and Coral Gables, Florida, the sales team, which specializes in luxury real estate, including luxury estates, condominiums, waterfront properties, and highly complex assemblages, achieved more sales volume than any other small, medium or large team from any brokerage or company nationwide. Year over year, The Jills Zeder Group not only sets the bar for the industry standard of excellence, but they surpass their own benchmark. The team's ingenuity, dedication to client service, extreme market intelligence and fierce business acumen has resulted in another outstanding recognition this year. It is a true privilege to have the opportunity to serve this top-performing, legendary team as part of Coldwell Banker." Ryan Gorman, CEO of Coldwell Banker "I'm honored to once again congratulate The Jills Zeder Group for their distinguished achievement earning the No. 1 spot on the prestigious RealTrends list, solidifying them as the very best real estate team in the country," said Duff Rubin, president of Coldwell Banker Realty in Florida. "This well-earned recognition reconfirms what we already know about the team, that they offer their clients incomparable professionalism and real estate knowledge, as well as a superior understanding of the complex and evolving market of South Florida." The RealTrends "The Thousand" ranking consists of all real estate agents and teams throughout the United States who took part in residential real estate transactions in 2021. The individual rankings are divided into two top 250 categories, based on closed transaction sides and closed sales volume. To qualify, an individual agent had to close at least 50 transaction sides or $20 million in sales volume in 2021. For real estate teams, the minimum was 75 transaction sides or $30 million in closed sales volume. About The Jills Zeder Group The Jills Zeder Group, affiliated with Coldwell Banker Realty, is comprised of three families, all of whom are major players in the luxury residential real estate business. These families include Jill Hertzberg, Jill Eber and Felise Eber; and Hertzberg's children Danny Hertzberg and Hillary Hertzberg; and Judy Zeder and her children, Nathan Zeder and Kara Zeder Rosen. Prior to The Jills Zeder Group's formation in 2019, the families closed a combined total of more than $8 billion in real estate sales, including collaborating on multiple luxury sales in the Coral Gables market. With offices in Miami Beach and Coral Gables, The Jills Zeder Group specializes in high-end, multimillion-dollar luxury properties in South Florida's most elite enclaves, representing celebrities, Fortune 500 executives, and a diverse international clientele. They offer incomparable knowledge and services to luxury real estate clients. About Coldwell Banker Realty Coldwell Banker Realty in Florida is a leading residential real estate brokerage company with approximately 73 offices and 8,106 affiliated sales associates. Coldwell Banker Realty is owned by a subsidiary of Anywhere Real Estate Inc. (NYSE:HOUS), the largest full-service residential real estate services company in the United States. Visit ColdwellBankerHomes.com. Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo are service marks owned by Coldwell Banker Real Estate LLC.

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