Nevada
Home prices keep climbing in Southern Nevada. An expert answers the question, will this continue?
LAS VEGAS (KTNV) — 2025 has kicked off the new year with record home prices and lots of properties up for sale across Southern Nevada.
According to a new report by Las Vegas REALTORS, the median home price of a single family home sold in January was $485,000. That’s up 9% from January 2024.
This breaks the previous record of $482,000 set back in May 2022.
The median price for condos and townhomes sold for $293,000 — another increase that’s 6.5% from a year ago.
▶ Related Here’s how the LA wildfires will affect Las Vegas’ housing market
We are all wondering, will this trend continue?
To get you the answer, I asked an expert — Bob Hamrick, the CEO of Coldwell Banker Premier Realty Las Vegas.
Tricia: What are you seeing in the next five years overall in terms of real estate for Southern Nevada?
“Well, Tricia, I think for the example to be during a time when interest rates are as significantly high as they are, for us to continue to see appreciation, it definitely speaks to the resiliency of our marketplace and the belief that our momentum is going to continue,” Hamrick said.
“I’m a big believer in that as well. We do not have the number of homes necessary for the number of people that are looking to move to Las Vegas and the growth that we’re anticipating. So, I do believe that now is the best time to buy if you’re in the market because it’s likely to continue to move up.”
Real estate experts say because of high interest rates, almost 29% of homes sold in January were cash offers.
▶ Watch Are you thinking of buying a home in Las Vegas? Here’s what you need to know
Are you thinking of buying a home in Las Vegas? Here’s what you need to know
Connect with Tricia Kean on social media
More local news on Channel 13
Nevada
Billionaire Tax Refugees Flock to Ritzy Nevada Lake Town
Nevada
EDITORIAL: Nevada hurt by California’s anti-fossil fuel crusade
California Gov. Gavin Newsom won’t admit it, but a move by President Donald Trump is especially helpful to drivers in California — and Nevada.
Gasoline prices are pressuring consumers around the country. On Friday, the average U.S. price was $4.55 a gallon. In California, that would be a bargain. The average there was $6.16 a gallon. Nevada’s average was $5.23 a gallon, the result of around 88 percent of the state’s gasoline coming from California.
It might be getting worse — regardless of what happens in Iran.
In recent months, two major California refineries have shut down. That represented a 17 percent reduction in California’s refining capacity. Their closures weren’t caused by the Iran war, but by Gov. Newsom and California’s relentless attacks on fossil fuels.
To make up for the fuel it won’t extract or refine in-state, California depends on imports from foreign countries.
“We are importing 30 percent of our crude oil from the Middle East,” Mike Ariza, a former control board supervisor at the Valero Benicia Refinery, said in an interview. He has been warning the public about California’s potential fuel shortage. “There are not very many ships left on the way that have fuel,” he said last month.
Last week, KCRA-TV in Sacramento reported that “about 2 million barrels of oil are in the process of being unloaded in Long Beach off of the last California-bound tanker that got through the Strait of Hormuz.”
At a California legislative hearing Tuesday, Siva Gunda, the vice chairman of the California Energy Commission, said the state has enough gasoline to accommodate demand for the next six weeks. That’s not a very long time, especially given that it takes weeks or months for oil to travel from the Middle East to California. And that process won’t begin until the Strait of Hormuz reopens.
There is a region, however, with abundant oil available for sale and safe passage — the southeastern United States. Unfortunately, the Jones Act, an antiquated 1920 law, mandates that only U.S.-flagged ships may move cargo between U.S. ports. But only 55 of the more than 7,000 oil tankers worldwide comply with this requirement.
This is where Mr. Trump rode to the rescue. Late last month, the White House announced Mr. Trump would suspend the Jones Act for another 90 days. In March, he originally waived it for 60 days. This will make it easier for California and Nevada to obtain domestic product.
If only Mr. Trump could also suspend the destructive energy policies imposed by Gov. Newsom and California Democrats.
Nevada
Nevada SPCA brings adoptable pet to spotlight for Furever Home Friday
LAS VEGAS (KSNV) — An adoptable pet is in the spotlight for “Furever Home Friday,” with Amy from the Nevada SPCA featured in a segment highlighting an animal available for adoption today.
The Nevada SPCA encouraged viewers looking to add a pet to their family to consider adopting.
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