Report: Home prices in Las Vegas valley increase 16 percent from one year ago

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Local home prices kept climbing through April as the local housing supply continued to get smaller, according to a report released today by the Greater Las Vegas Association of REALTORS.

GLVAR reported that the median price for existing single-family homes sold in Southern Nevada during April through its Multiple Listing Service was $289,000. That’s up 3.2 percent from the previous month and up 16.1 percent from April of 2017.

The median price of local condos and townhomes sold in April was $155,000, up 19.2 percent from the same time last year.

One factor pushing up prices is the increasingly tight housing supply. Southern Nevada has about a month and a half supply of existing homes available for sale when a six-month supply is considered a balanced market.

By the end of April, GLVAR reported 3,816 single-family homes listed for sale without any sort of offer. That’s down 24.9 percent from one year ago. For condos and townhomes, the 790 properties listed without offers in April represented a 23.6 percent increase from one year ago.

RELATED: Expect to pay more for single-story homes in Las Vegas valley due to high demand

The low supply may also be slowing down local home sales, which have been running roughly even with last year’s sales pace so far this year after increasing in recent years. The total number of existing local homes, condos and townhomes sold during April was 3,571. Compared to one year ago, April sales were up 0.4 percent for homes and up 4.5 percent for condos and townhomes.

GLVAR reported that 27.3 percent of all local properties sold in April were purchased with cash. That compares to 27.5 percent one year ago. That’s well below the February 2013 peak of 59.5 percent.

Meanwhile, the number of so-called distressed sales continues to decline. GLVAR reported that short sales and foreclosures combined accounted for 2.5 percent of all existing local home sales in April, down from 8.4 percent of all sales one year ago.

Copyright 2018 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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California real estate firm buys Las Vegas apartment complex

California real estate firm OpenPath Investments bought the Desert Ridge apartment complex at 7055 E. Lake Mead Blvd., for almost $31 million. (Berkadia)

A California real estate firm has bought an east Las Vegas apartment complex.

OpenPath Investments, which says it follows a “socially responsible investment platform,” acquired the 304-unit Desert Ridge complex at 7055 E. Lake Mead Blvd., past Hollywood Boulevard at the valley’s eastern edge.

The $30.75 million purchase closed April 3, property records show.

Brokerage firm Berkadia, which represented the seller, Salt Lake City-based Sundance Bay, announced the deal Wednesday.

Built in 1990, Desert Ridge has one- and two-bedroom units that average 850 square feet. Amenities include a fitness center, clubhouse and racquetball court, Berkadia said.

OpenPath, based in Truckee, California, near Lake Tahoe, says on its website that it aims “to generate a triple bottom line: robust financial returns alongside positive and measurable social and environmental impact.”

Efforts to get comments from the firm were not immediately successful Wednesday.

Contact Eli Segall at or 702-383-0342. Follow @eli_segall on Twitter.

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Comic Conventions Return in 2018 With COMIC CON LAS VEGAS and All-New COMIC CON ALOHA IN Honolulu, Hawaii

Amazing Comic Conventions is excited to announce a return in 2018 with their biggest conventions ever. For the past decade, Amazing Comic Conventions has a tradition of showcasing the very best Architects of Pop Culture. These individuals create and bring to life the characters we love, write the storylines that inspire our favorite movies, tv shows, comics, graphic novels, video games, toys, and collectibles. In 2018, Amazing Comic Conventions will be bringing some of the most beloved celebrities and creators together for an experience like no other.

It begins in Las Vegas, NV on June 29th, June 30th and July 1st With Amazing Comic Con Las Vegas at the Las Vegas Convention Center. Charlie Cox (Netflix/Marvel’s Daredevil), Deadpool and Cable Creator Rob Liefeld, Deadpool 2 cast members including Brianna Hildebrand (Negasonic Teenage Warhead), Jason David Frank (celebrating the 25th Anniversary of Power Rangers) and Sam Humphrey (The Greatest Showman) will join comic creators Jim Starlin (Thanos), Kevin Eastman (Teenage Mutant Ninja Turtles), Marv Wolfman (New Teen Titans) and voice actors and artists for Blizzard Entertainment’s Overwatch for panels, fan experiences and exclusive signings. The convention floor will feature over 100,000 square feet of collectibles, interactive exhibits, video game tournaments and an artist alley over with 200 top international artists including Marvel Cover Artist Skottie Young, Extreme Studios/Deadpool artist Marat Mychaels, Avengers Writer & Artists Jason Aaron & Ed McGuiness, Spider-Man/Justice League Artist Jimmy Cheung, Harley Quinn’s Jimmy Palmiotti & Amanda Conner, Legendary Batman Creator Neal Adams, Street Fighter Artists Joe NG, Jeffrey Chamba Cruz & Long Vo.

On August 24th, 25th and 26th the action shifts to Honolulu, Hawaii with the ALL NEW Amazing Comic Con Aloha at the Hawaii Convention Center. Hawaii’s own Evangeline Lily (Marvel’s Antman and The Wasp, Avengers Infinity War, Lost) will be joined by Tara Strong ( voice actress – Harley Quinn, Teen Titans, Powerpuff Girls) the voice of Nintendo’s MARIO Charles Martinet, comic creators Jim Starlin (Thanos), Kevin Eastman (Teenage Mutant Ninja Turtles), Marv Wolfman (New Teen Titans) to give the people of Hawaii an experience like no other for panels, fan experiences and exclusive signings. The convention floor will feature over 100,000 square feet of collectibles, interactive exhibits, video game tournaments and an artist alley over with 200 top international artists all with a distinctly ALOHA flair.<

“We are so excited to be able to bring something bigger and bolder to Vegas and Hawaii,” said Amazing Comic Conventions founder Jimmy Jay. “After being Vegas’s leading show for the past 6 years and Hawaii’s ONLY show the past 4 years we felt it was time to bring more of the Architects of Pop culture that people love into these spaces. We were the first to bring COMIC CON’s to Hawaii and began a new trend of bringing big name talent like Stan Lee, William Shatner, Alan Tudyk and Star Trek The Next Generation cast members to the Aloha state. We can’t wait to continue that this year!!”

“Charlie, Evangeline, Rob, Brianna, Sam and Tara are currently some of the most prolific names in Pop Culture and it’s amazing for people to be able to interact with them and see them in an intimate but family friendly environment.”

Both shows will feature Family Days on Sundays (July 1st and August 26th respectively) that focus on family fun. Tony Fleecs (My Little Pony) will be offering complimentary sketches for 1 hour and other select guests in the artist alley will provide Free Super Hero Sketches to Kids 10 and Under throughout the day. There will be coloring contests, video game demos/tournaments and a special Children’s Cosplay Costume Cavalcade where all children are invited to dress up as their pop culture characters where everyone is a WINNER!!

Tickets and VIP packages for both shows beginning at just $30 are available now at
Watch Amazing Comic Con socials for more exciting guest announcements, news and the latest updates
Twitter: @Amazingcomiccon
Instagram: @AmazingComicCon

About Amazing Comic Conventions:
Amazing Comic Conventions is a brand with over 20 years’ experience that brings the Architects of Pop culture together under one roof for a family friendly, fun convention. Owned and operated by Jay Company Comics, one of the largest comic book dealerships in the country, Amazing Comic Conventions is a family owned and run business the prides itself on its professionalism, work ethic and family values. Amazing Comic Con Las Vegas is the longest running pop culture event of its kind in Las Vegas and had over 35,000 attendees in 2017.

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Cedric Crear Wins Las Vegas City Council Seat

LAS VEGAS, NV – Cedric Crear is the newest member of the Las Vegas City Council. Crear won the special election for the council’s vacant Ward 5 position by receiving 627 votes in the eleven-way race.

The special election didn’t drive voters to the polls. Just six percent (2,320) of the 35,809 registered voters in Ward 5 took part. Crear’s 627 votes made up 27 percent of the vote.

Crear edged out Harvey Munford (402 votes), and Shondra Summers-Armstrong (394 votes) as the next two highest vote getters.

About half of the 2,320 total votes were cast on Tuesday’s election day (1,123). Early voting on March 22 and 23 turned out 849 voters and 348 people mailed in their vote.

On the early voting days, 423 people voted on March 22 and 426 voted on March 23. Of the three early voting locations, 483 people voted at the Las Vegas Athletic Club on Rainbow, 312 voted at the Doolittle Community Center, and 54 people voted at the city clerk’s office.

Crear will fill the vacant seat left by the resignation of former councilman Ricki Barlow, who pleaded guilty to a wire fraud charge in February after resigning from the position in January. Barlow admitted that he used funds from his 2015 reelection campaign as his own.

Crear has served on the Board of Regents for the Nevada System of Higher Education since 2006, representing District 1 in Clark County. He was also appointed to the Las Vegas Planning Commission by Barlow in 2015.

He had a message for his supporters after the results came in Tuesday night.

"Thank you so much Ward 5. I’ humbled by your support," the councilman elect tweeted.

The results of the Ward 5 special election wil lbe canvassed on April 4 and Crear will be sworn in on April 18.

Image via David Allen/Patch

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New Catholic Bishop in Las Vegas Supports Immigrants, Gun Control

The incoming bishop for the Catholic church in Las Vegas says supporting immigrants and advocating for gun control will be among his top priorities. The Las Vegas Sun reports Bishop George Leo Thomas, who takes over May 15 for retiring Bishop Joseph Pepe, says he wants to promote an agenda of "compassion and care."

Start the conversation, or Read more at KTVN Reno.

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God Be With Las Vegas During Christmas And Let’s Keep The News Headlines Encouraging

You know that the news from Vegas is going to be heavy. There are the good headlines, and there are the bad headlines. What happens in Las Vegas doesn’t stay there, that’s for sure. Many times, it gets reported in the news. Are you ready to see what’s going on in the City of Lights? Continue reading “God Be With Las Vegas During Christmas And Let’s Keep The News Headlines Encouraging”