The new home market is alive and well in Las Vegas. Las Vegas builders have finished old plans and have set their eyes on new home communities in areas that have not been developed. There are many new homes in Las Vegas attracting the attention of investors and professionals that seek master plan neighborhoods in Las Vegas. With new corporations relocating or opening up new facilities within the area, newly-built homes are moving quickly on the market, creating fierce competition among new home builders.
One of the additions to the Las Vegas new homes market on the horizon is the 2014 New American Home, which is being built as part of the Henderson Sky Terrace Development which includes breathtaking views of the Las Vegas Strip. A contemporary-styled luxury home, this new design will encompass about 6,700 square feet with energy efficiency and sustainable materials as a main selling point. This home is being shown as a feature at the National Association of Home Builders International Builders Show in January 2015.
Residential builders are being proactive and smart, buying land as fast as it can sell. American West recently acquired 87.5 acres of land in southern Las Vegas Valley at a government auction. Another big deal in master plans in Las Vegas is the addition of a new “downtown” built by The Howard Hughes Corporation within the Summerlin development.
Brian Gordon, a principal from Applied Analysis says, “There are relatively few options for a major relocation or corporate user to expand. In the entirety of the Las Vegas Valley, you could probably count them on a single hand. This provides that supply-side kind of equation that may be necessary for large corporate users.”
An influx of new residents and corporations entering the area has driven the market for new homes in Las Vegas to a seasonal high. Luxury homes, although pricey, are also on the rise, being offered at lower prices with a wide variety of amenities to attract new home buyers into new areas. The master plan communities in Las Vegas are plentiful, with some of the newest being in Tacinga Ridge, Eldorado Heights, Chestnut Hill at Providence and Denali. Styles vary based on the development within Las Vegas new home communities, giving buyers a number of options in which to choose.
Pinnacle Homes is also a major player in the new home market, with new luxury estate homes. There are many options in new homes, making it a buyer’s market. Best of all, new home builders include 10-year warranties which goes a long way with peace of mind. Low interest rates and availability make Las Vegas an attractive option for first-time home buyers as well, but competition is fierce with the number of cash sales being at the top of the home buying list. When buying in cash, there is a definite advantage, and builders cater to this list of exclusive clientele. individuals wanting to buy should be fully prepared to make an offer. If the market continues to grow as it has, these homes will not be available for long.