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North Las Vegas establishes strong spot for growth in new home sales |

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North Las Vegas establishes strong spot for growth in new home sales

LAS VEGAS (KLAS) -- North Las Vegas is expected to dominate new home sales for the next 10 years, according to a report from Coldwell Banker.

According to Bob Hamrick, Chairman and CEO Coldwell Banker Premier Realty, North Las Vegas grew to 27% of the market share in Southern Nevada in 2020.

One big reason: affordability.

New homes in Las Vegas are selling for an average of $340,000 compared to $497,000 in the southwest valley. That breaks down to $169 per square foot in North Las Vegas compared to $202 per square foot in the southwest, Hamrick said.

The surge in North Las Vegas comes as home inventories drop, tightening demand. Inventories are down 57% compared to February 2020, and 27% compared to just last month.

"Having tripled new home sales in the last two years alone, the projections are causing expectations that North Las Vegas will dominate news home sales for the next 10 years," he said.

National builders including Richmond, KB Home, Lennar, Taylor Morrison and Century Communities are in the market as the city has worked on solving problems with infrastructure and crime, Hamrick said.

Hamrick cited four new communities that are selling in North Las Vegas.

  • Valley Vista
  • Villages at Tule Springs
  • Sedona Ranch
  • Palmer Ranch