Nevada
LVR reports local home prices springing forward
LAS VEGAS – A report released Tuesday by Las Vegas REALTORS® (LVR) shows local housing prices springing forward in April, with condo and townhome prices reaching a record high.
LVR reported that the median price of existing single-family homes sold in Southern Nevada through its Multiple Listing Service (MLS) during April was $469,000. That’s up 9.1% from $430,000 in April of 2023. However, local home prices are still below the all-time record of $482,000 set in May of 2022.
The median price of local condos and townhomes sold in April was $290,000, up 7.4% from $270,000 in April 2023. That’s an all-time high, surpassing the $287,000 mark set in August of 2022.
LVR President Merri Perry, a longtime local REALTOR®, said local home prices have remained resilient this year despite recently rising mortgage interest rates. Despite rising rates, she was pleased to see an increasing number of properties being sold last month.
“Mortgage rates have been slowing down home sales this year, so it’s good to see more homes and condos selling,” Perry said. “Overall, demand continues to outpace the supply of homes here in Southern Nevada, and that’s driving up prices.”
By the end of April, LVR reported 3,476 single-family homes listed for sale without any sort of offer. That’s down 7.0% from one year earlier. Meanwhile, the 1,248 condos and townhomes listed without offers in April represent a 29.5% increase from one year earlier.
LVR reported a total of 2,960 existing local homes, condos and townhomes sold in April. Compared to April 2023, sales were up 19.2% for homes and up 16.1% for condos and townhomes. The sales pace in April equates to less than a two-month housing supply, which is similar to one year ago and considered low by historical standards.
According to LVR, 2023 was the slowest year for existing local home sales since 2008. LVR reported a total of 29,069 sales of existing local homes, condos and townhomes in 2023. That was down from 35,584 total sales in 2022. That followed a record year for existing local home sales in 2021, when LVR reported 50,010 total properties were sold.
During April, LVR found that 26.9% of all local property sales were cash transactions. That’s up from 22.3% one year ago. That’s well below the May 2013 cash buyer peak of 59.5%.
The number of so-called distressed sales remains near historically low levels. LVR reported that short sales and foreclosures combined accounted for 1.2% of all existing local property sales in April. That compares to 0.8% one year ago, 0.5% two years ago, 0.9% three years ago, 1.5% four years ago and 3.0% of all sales five years ago.
These LVR statistics include activity through the end of April 2024. LVR distributes statistics each month based on data collected through its MLS, which does not account for all newly constructed homes sold by local builders or homes for sale by owners. Other highlights include:
- The total value of local real estate transactions tracked through the MLS during April was more than $1.4 billion for homes and more than $193 million for condos, high-rise condos and townhomes. Compared to one year earlier, total sales values in April were up 35.4% for homes and up 28.5% for condos and townhomes.
- In April, 83.0% of all existing local homes and 84.1% of all existing local condos and townhomes sold within 60 days. That compares to one year earlier, when 71.5% of all local homes and 75.7% of all condos and townhomes sold within 60 days.
About LVR
Las Vegas REALTORS® (formerly known as GLVAR) was founded in 1947 and provides its nearly 17,000 local members with education, training and political representation. The local representative of the National Association of REALTORS®, LVR is the largest professional organization in Southern Nevada. Each member receives the highest level of professional training and must abide by a strict code of ethics. For more information, visit www.LasVegasRealtor.com.
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Nevada
GOP primary for open US House seat and Democratic governors race highlight Nevada ballot
LAS VEGAS (AP) — Nevadans are choosing their party nominees Tuesday for two closely watched congressional seats and the governor’s race, among others, as the state grapples with an affordable housing shortage, exploding energy demand from data centers and federal cuts to key state programs.
The state has a closed primary, meaning only registered Democrats and Republicans will vote in party contests after an effort to open them up failed in 2024.
Several primaries feature matchups between candidates backed by party leaders and political outsiders promising change. Come November, the governor’s race is considered one of the most competitive in the country, and holding on to the 3rd Congressional District is considered crucial for Democrats’ hope of retaking the U.S. House.
Here’s a look at the most prominent races:
Democrats seek a rival for Lombardo
Gov. Joe Lombardo, a Republican, is considered one of the most vulnerable governors in the country this fall.
The Democrats vying to challenge him include state Attorney General Aaron Ford, who has the backing of the Democratic congressional delegation and former Vice President Kamala Harris, and Alexis Hill, a county commissioner in northern Nevada who campaigned as a candidate willing to shake things up.
They focused their campaigns on affordability, as the state continues to see a shortage of affordable housing, some of the highest gas prices in the country and cuts to federal healthcare and food assistance programs.
Ford largely ignored Hill, instead directing his attacks at Lombardo and arguing that both the governor and Trump are responsible for Nevadans’ economic woes. He is trying to become Nevada’s first Black governor.
2nd Congressional District
In the Republican contest to replace longtime Rep. Mark Amodei, who is retiring, President Donald Trump has endorsed David Flippo, a loyalist of the president who has never held elected office. Amodei and Lombardo have backed James Settelmeyer, a former state senator with a long political track record.
The district covers northern Nevada and includes Reno and Carson City, the capital, along with an immense rural expanse.
Trump-endorsed candidates have seen successful in primaries elsewhere, underscoring his unrivaled power over the Republican Party as he enters the last years of his presidency. He easily won the district in the 2024 presidential election.
The GOP nominee has a good chance of winning in November, as registered Republicans outnumber Democrats by 70,000 in the 2nd District. A Republican has held the seat since the district was created in the 1980s.
Still, Democrats hope to entice the large number of nonpartisan voters in the district this fall. Their candidates include Teresa Benitez-Thompson, a former majority floor leader of the Nevada Assembly, and Greg Kidd, an investor who ran in the last cycle as a nonpartisan.
3rd Congressional District
Nevada’s other three members of Congress, all Democrats, are expected to win their primaries easily.
In the 3rd District, Republicans are battling to determine who will face Democratic Rep. Susie Lee in what is considered the most competitive congressional district in Nevada because of its narrow Democratic registration advantage, its high number of nonpartisan voters and a history of razor-thin election margins. In 2024 both Lee and Trump won narrowly.
Candidates include Trump-backed Marty O’Donnell, a composer who worked on the “Halo” video game series and ran unsuccessfully for the seat in 2024; Jeff Gunter, a dermatologist and former ambassador to Iceland; neurosurgeon Aury Nagy; and businessperson Tera Anderson.
The candidates ran on border security, energy independence and decreasing the federal debt.
Attorney general
With Ford term-limited and running for governor, the opening has prompted competitive primaries for the state’s top law enforcement post.
The Democratic side features state Senate Majority Leader Nicole Cannizzaro and Treasurer Zach Conine. Both campaigned on promises to take on the Trump administration, following in the footsteps of Ford, who filed numerous lawsuits against the federal government.
For the Republicans, Trump-backed attorney Adriana Guzmán Fralick faces Douglas County commissioner Danny Tarkanian. Tarkanian, son of legendary University of Nevada, Las Vegas basketball coach Jerry Tarkanian, previously ran unsuccessfully in multiple congressional races.
Both candidates campaigned on “election integrity,” casting doubt on voting security. Nevada is one of the swing states in which Trump falsely claimed the 2020 election was stolen, despite officials finding no evidence of widespread fraud.
Tarkanian promised to investigate voter fraud allegations, while Guzmán Fralick vowed to seek passage of the SAVE Nevada Act, which would be similar to changes Trump has sought at the federal level.
Her legislation would require all votes to be counted on Election Day, end universal mail ballots and eliminate automatic voter registration. It would almost certainly hit a dead end in the Democratic-controlled Legislature.
GOP secretary of state candidates question Nevada’s elections
Several Republicans are running for secretary of state, the office that oversees elections, including some who falsely claimed the 2020 election was stolen from Trump. The winner of the primary will take on Democratic Secretary of State Cisco Aguilar.
The GOP candidates include Jim Marchant, a former state lawmaker and perennial candidate who has said the 2020 election “was probably stolen”; Sharron Angle, a former state lawmaker who was part of an effort to block the certification of Nevada’s 2020 election results; and Shirley Folkins-Roberts, an attorney who received Lombardo’s endorsement and has denied there is widespread fraud in Nevada’s elections.
All the candidates support implementing voter ID, which will be on the ballot for the second time in November after the question passed by a wide margin in 2024.
Angle promises to enforce voter ID if voters pass it and supports Trump’s executive order seeking to require documentary proof of citizenship to vote. The courts have so far halted that order, issued last year, from taking effect.
Marchant wants to eliminate electronic voting machines and end the state’s universal mail ballot system. He also wants to require paper ballots, which would be counted by hand, according to his campaign website.
Folkins-Roberts said she will work to keep voter rolls accurate and up-to-date, require voter ID and ensure that election results are delivered on time. She also wants to reverse the automatic voter registration system. In an interview with News 4 Reno, Folkins-Roberts said she believes Nevada’s elections are “good,” but wants to improve voters’ confidence by making changes.
Nevada
Red Flag Warning issued for heightened fire danger in Southern Nevada
LAS VEGAS (KSNV) — We’ll start the week with a heightened fire danger with dangerous heat later this week.
TODAY
Expect mostly sunny skies with winds picking up again on Monday. High temperatures will reach 98 degrees in Las Vegas with south winds 10-20 mph and wind gusts up to 30 mph.
A RED FLAG WARNING is in place from 10am to 9pm Monday for gusty winds and dry weather, so if a fire started, it would spread quickly.
Winds are estimated to be 20-25 mph with gusts around 40 mph at times with relative humidity of 5%-15%.
Air quality is ranked ‘good’ to ‘moderate’ for dust and tree pollen. The most common pollens are juniper, cedar, willow, sycamore and palm.
TONIGHT
We’ll see variable clouds this evening with skies going from mostly cloudy to mostly clear overnight.
Wind gusts will pick up again before midnight with gusts 30-40 mph possible downslope of the Spring Mountains in the west valley.
Elsewhere, gusts will be 20-30 mph. Breezes will eventually back down to 5-15 mph overnight. Valley lows will drop to around 74 degrees.
WHAT’S NEXT
We have reached 109 consecutive days without measurable rain in Las Vegas.
No rain is in sight, but for perspective, June is the driest month of the year in Las Vegas. Fingers crossed on a hopefully more active monsoon season!
High pressure builds next with highs 5-10 degrees above normal. Temperatures will reach around 108 degrees in Las Vegas by Friday. The last time we hit a high temperature of 108 degrees was back on August 20th of last year.
Not much relief is in sight by the weekend with highs around 107 degrees and temps at or above 105-106 degrees NEXT Monday through Wednesday.
Nevada
DNA Doe Project unlocks cold case in Nevada
Growing DNA databases continue to unlock decades-old cold cases. How the DNA Doe Project helped to identify remains 37 years later.
© KSNV, NBC News Channel
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