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Home prices keep climbing in Southern Nevada. An expert answers the question, will this continue?

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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.

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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.

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“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

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IN RESPONSE: Cortez Masto lands bill would keep the proceeds in Nevada

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IN RESPONSE: Cortez Masto lands bill would keep the proceeds in Nevada


A recent Review-Journal letter to the editor mischaracterized Sen. Catherine Cortez Masto’s Southern Nevada Economic Development and Conservation Act, also known as the Clark County Lands bill. As the former executive director of the Nevada Conservation League, I wholeheartedly support this legislation, so I wanted to set the record straight.

Sen. Cortez Masto has been working on this bill for years in partnership with state and local governments, conservation groups like the NCL and local area tribes. It’s true that the Clark County lands bill would open 25,000 acres to help Las Vegas grow responsibly, while setting aside 2 million acres for conservation. It would also help create more affordable housing throughout the valley while ensuring our treasured public spaces can be preserved for generations to come.

What is not correct is that the money from these land sales would go to the federal government’s coffers. In fact, the opposite is true.

The 1998 Southern Nevada Public Lands Management Act is a landmark bill that identified specific public land for future sale and created a special account ensuring all land sale revenues would come back to Nevada. In accordance with that law 5 percent of revenue from land transfers goes to the state of Nevada for general education purposes, 10 percent goes to the Southern Nevada Water Authority for needed water infrastructure and 85 percent supports conservation and environmental mitigation projects in Southern Nevada. This legislation has provided billions to Clark County and will continue to benefit generations of Southern Nevadans. Sen. Cortez Masto’s lands bill builds upon the act’s success.

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So here’s the good news: All of the money generated from land made available for sale under Sen. Cortez Masto’s bill would be sent to the special account created by the 1998 law. Rather than going to an unaccountable federal government, the proceeds would continue to help kids in Vegas get a better education, bolster outdoor recreation and modernize Southern Nevada’s infrastructure.

I know how important it is that money generated from the sale of public land in Nevada stay in the hands of Nevadans, and so does the senator. That’s why she opposed a Republican effort last year to sell off 200,000 acres of land in Clark County and other areas of the country that would have sent those dollars directly to Washington.

Public land management in Nevada should benefit Nevadans. We should protect sacred cultural sites and beloved recreation spaces, responsibly transfer land for affordable housing when needed and ensure our state has the resources it needs to grow sustainably. I will continue working with Sen. Cortez Masto to advocate for legislation, such as the Clark County lands bill, that puts the needs of Nevadans first.

Paul Selberg writes from Las Vegas.

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Las Vegas High beats Coronado in 5A baseball — PHOTOS

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Las Vegas High beats Coronado in 5A baseball — PHOTOS