New home construction has taken off here in the Las Vegas area. There is building taking place along the edges of nearly the entire valley to continue and push the population of the Las Vegas valley outward. The master planned communities of Cadence, Inspirada, Skye Canyon and Summerlin are the bulk of the building with home builders like DR Horton, Pardee Homes, Pulte and KB Homes purchasing in-fill land pieces and building throughout the valley.
The villages of Reverance and Stonebridge in Summerlin are selling at record pace and have driven the home builders to increase base prices of the homes and increase lot premiums to as much as $200,000 for the premier lots in Reverence.
Skye Canyon is excited with the new Smith’s Marketplace opening in the master planned community later this year.
Inspirada is near the fastest growing area of the valley in west Henderson where the Las Vegas Raiders will be making their corporate home and training facility just outside the Inspirada neighborhood. Additionally, several large retail centers are going in nearby on St. Rose Parkway including a new Costco, TJ Maxx and Hobby Lobby. Further west on St. Rose Parkway, near The M Resort will be The Block a new residential, office, retail and entertainment complex.
In southwest Las Vegas another mixed use entertainment center is going in near Ikea at Durango Dr. and Sunset Rd.
While most of the new construction start in the high $200’s. There is new construction from the mid $100’s available for townhouses near Nellis Airforce Base and single family homes from $200,000 in North Las Vegas.