Las Vegas Housing Prices Rise But Condos And Townhomes Rising More

Las Vegas housing prices are on the rise, along with interest rates. Which doesn't help potential buyers.

Las Vegas Realtors figure released this week have the average price of an existing single-family home in Las Vegas. For the month of October, it was $449,000. That's up about two percent from last year at the same time.

Figures also showed that the price of condos and townhomes in Vegas have gone up even more. About three and a half percent. Perhaps because condos and townhomes are a little more affordable to begin with? Maybe more demand.

Rising interest rates continue to affect home sales in the Las Vegas market, as well. Because of those higher interest rates, buying and selling trends have been affected negatively.

LasVegasRealtors.com states that as of right now there are 4,066 single-family homes listed for sale without any offer, which is down significantly from the same time last year. There are 1,035 condos and townhomes listed without offers. Down from last year, as well.

The site reports that the sales pace in October was about a two-month supply of properties for sale. Last year at this time, according to the report, the Las Vegas area had more than a four-month housing supply.

Norada Real Estate Investments says that the Vegas housing market is cooling down. But we've seen that before. The big question is, will housing prices in the 702 be dropping again anytime soon? And will interest prices dip, in order to help home buyers?

Norada does list, and break down, some great reasons to invest in real estate in Las Vegas: The economy, strong growth, reasonable property taxes.

Bottom line? Las Vegas is still a great city to buy in, and live in. As Californians have found out, and indicated, over the years.

Las Vegas street names - where did they come from, and why?

Las Vegas is a place of extremes. We probably have the brightest artificial light in the known universe shining from the Luxor pyramid every night - to the extent that pilots can't fly directly over it for fear of piercing a retina. We have the tallest building between Chicago and the west coast., with the Stratosphere Tower. We have more hotel rooms per capita than - well, probably anywhere. More shows, more casinos, more restaurants in a three mile stretch of road on the strip, than most cities have in a lifetime.

We have to eventually run out of street names, right? Which is not good, because street names help you get you where you're going.

Naming streets in Las Vegas was easy - at first. Early downtown Las Vegas named streets going one direction after Nevada pioneers like Clark, Fremont and Carson. The cross streets got numbers, starting with First Street, which was just one block east of Main Street. Main Street was next to the railroad on the spot where the city began. In the original North Las Vegas the streets were mostly named after people, - simple enough.

Henderson was founded as a company town as a part of the war effort during World War Two.

The street names include Basic, which is the name of the company where the water for Basic Industries flows (now underground,) and a whole lot of mineral names: Lead, Silver, and Perlite. State names, ocean names (Atlantic and Pacific) and to top it off, Army, Navy, Major and Minor.

During an early optimistic period what is now the industrial development west of the Strip used names of stars, like Polaris, Procyon, Regulus, Capella, Sirius, Rigel, Pollux, and Aldebaran. Not bad.

Then there are the celebrity streets. You know, Joe W. Brown Drive, Frank Sinatra Drive, Dean Martin Drive, Wynn Road, Elvis Presley Street, and many that are actually minor streets but still are named after famous Las Vegas people.

There's still a lot of building going on in Las Vegas - what are YOUR suggestions for road names?

And here are some weird street names from other cities in the state of Nevada

-Carla Rea

Goa Way. Get it - Go A-way.   Gardnerville is an unincorporated town in Douglas County, (Northern) Nevada, adjacent to the county seat of Minden. The population was 6,211 at the time of the 2020 Census. U.S. Route 395 runs through the center of Gardnerville. State Route 207, known as Kingsbury Grade, connects Gardnerville to Stateline and U.S. Route 50.

https://goo.gl/maps/JG58iwzKX62byYPx6

Hell's Bells Road.  Carson City is the capital of the U.S. state of Nevada. As of the 2020 census, the population was 58,639, making it the sixth largest city in Nevada.

https://goo.gl/maps/knyy1B4eqCM9cbFT7

Wegotta Way - perhaps to go along with the street in Gardnerville.

https://goo.gl/maps/HMCxHmGgua2ewtSN7

I know a lot of cities have this street, but still - you gotta love it! Some of us even stole that street sign in the city we grew up in. (I plead the fifth)

Break-A-Heart Road. Just in time for Valentine's Day. Silver Springs is a census-designated place in Lyon County, Nevada, at the intersection of US 50 and US 95A. The population was 5,296 at the 2010 census. Lahontan Reservoir, Lahontan State Recreation Area and historic Fort Churchill State Historic Park are all located nearby. If you ever get a chance to go to Lahontan, do it - it's a lot of fun!

https://goo.gl/maps/tEhFk5gTFgHUyyKv5

Windy Butte Way. It's childish - but you know you laughed, Beavis.

https://goo.gl/maps/Ypgx9wTBqo5tBKLSA

Over the hump, in Pahrump, is an ode to Frank Sinatra!

https://goo.gl/maps/9LHgVTWUdMFhc99z6