The Las Vegas real estate market is going through some difficult times as foreclosures are up around the valley and inventory levels increase every month.

Home prices are starting to slide, and some data indicates that the decline will continue in the short term.

The most recent report by the Center for Business and Economic Research on housing market conditions in the Las Vegas region shows that the average price per square foot for single family homes is dropping around the valley.

The most recent numbers in the report come from the third quarter of 2006, but already show prices at $183 per square foot, down from $189 in the second quarter of last year.

While the median home price increased in Las Vegas during the third quarter of 2006, this can be explained by the larger size of homes for sale across the Las Vegas region.

The median size of single family homes for sale during the third quarter of 2006 increased to 1,802.  This represents an increase of almost 100 square feet in one quarter.

The Las Vegas real estate market is showing signs of weakening as the median price per square foot of homes declines.  Further increases in foreclosures and the arrival of new inventory to the market could further weaken the market in the short term.

However, buyers looking for Homes for Sale in Las Vegas, Nevada, should be able to find excellent deals over the next few months.

Technorati Tags: Las Vegas Home Prices, Las vegas Real Estate, Las Vegas Homes For Sale

Las Vegas residents looking for an alternative to suburban living can now find what they’re looking for in Coyote Springs.  This development, located over 50 miles to the northeast of Las Vegas, offers what its developers term “the next great place” in the middle of the vast Nevada desert. 

Residents of Coyote Springs will be able to enjoy the peace and quiet of the desert while being within an hour of the best restaurants, nightlife, and cultural events on the Las Vegas strip. 

Coyote Springs is a 43,000 acre community that will offer single family homes.  The first part of the development is planned for 3,000 acres.  A total of 10,000 homes will be built during the first stage of development. 

According to Klif Andrews, Division President of the Southern Nevada Region for Pardee Homes,

“Coyote Springs is designed to be an outdoor-oriented, environmentally responsible and technologically advanced town, offering a wide variety of home choices that reflect the architectural heritage of the American West”  Source:  www.lvrj.com

Coyote Ranch will include amenities such as a lake, parks, golf courses, and retail space that will provide everything that residents need.  An elementary school is also currently planned for the development. 

Coyote Ranch is one of many new master planned communities that are popping up further away from major metropolitan areas. 

The master plan for Coyote Ranch calls for a final population of up to 200,000. 

Technorati Tags:  Coyote Ranch Homes, Las Vegas Real Estate, Las Vegas Preconstruction Homes 

The largest individual real estate development to ever come to Las Vegas promises to change the Las Vegas strip. CityCenter will bring luxury condominiums, retail space, cultural events, and nightlife to the heart of the strip, between the Monte Carlo and the Bellagio casinos.

The MGM Mirage is behind this gigantic project that is estimated to cost around $7 billion. The CityCenter will offer luxury condominiums in four separate towers that will feature unique architecture and luxury amenities. The Vdara Condo Hotel will offer luxury hotel suites and condominiums while Veer Towers will be purely residential towers. The Mandarin Oriental and The Harmon will offer both hotel suites and condominiums.

Amenities for residents of these towers will include VIP services that allow them to enjoy quick access to the best restaurants, clubs, and golf courses in the area. Residents will also be just steps from the best cultural events and shopping in CityCenter and along the Las Vegas strip. Construction is currently underway and will be completed in 2009.

There are also many other luxury condominium and loft developments going up around the greater Las Vegas area. There are Homes for Sale in Las Vegas, Nevada for every budget and every taste. Enjoy the quiet life in the suburbs or live right in the middle of the action on the Las Vegas strip.

Technorati Tags: Las Vegas Luxury Condominiums, CityCenter Las Vegas, Las Vegas Real Estate