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🏡 Las Vegas Faces Rising Home Prices in Nearly All ZIP Codes
Issue #417 - January 27 2025
John Wu
27 Jan
Dear SummerSouth Insiders!
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📆 Weekly Local Events for January 2025
Regular weekly events in or near Summerlin, Las Vegas are listed below.
Visit here to lookup specific venue information or for upcoming and/or non-weekly events on Meetup.
Monday
Monday Classes At Latin Blendz: (Every week on Monday @ 10AM)
Socially Vegas - Monday Night Bowling @ The Orleans Bowling Center: Must arrive/check-in before 7pm; 7 - 10pm (Every week on Monday); COST (CASH Only) $10 for 2 games (includes shoes) COST: $12 for 3 games (includes shoes)
Monday Night TRIVIA at ReBAR, 1225 S Main St, Las Vegas: (Every week on Monday @ 7PM)
Tuesday
Sand Volleyball Intermediate, Rusty and Old Time Players @ Aloha Shores Park (NW), Cheyenne & Buffalo, 7550 Sauer St, Las Vegas: (Every week on Tuesday @ 6 - 8 PM)
Run Drink Las Vegas - Weekly Tuesday Run @ Frankie’s Uptown patio: 7PM (Every week on Tuesday), FOLLOW US ON INSTAGRAM @rundrinklv FOR THE LATEST WEATHER/TIMING UPDATES
Wednesday
Business Leads Group - Networking Breakfast @ Summit Restaurant, Eagle Crest Golf Course, 2215 Thomas W Ryan Blvd, Las Vegas: Cost $20 cash, 7 - 8:30 AM (Every week on Wednesday)
Early Risers Toastmasters Meeting (In-Person - Summerlin Egg Works / Online Event: 7 - 8 AM (Every week on Wednesday)
Las Vegas Valley Bicycle Club - Wednesday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Wednesday)
Speakers & Leaders of Summerlin Toastmasters Meeting, Summerlin Egg Works, 2025 Village Center Cir, Las Vegas: 12 - 1:30 PM (Every week on Wednesday)
Thursday
Abundance Business Networking Group Online Event: 7 - 8:30 AM (Every week on Thursday). Please arrive 10-15 minutes early for networking. Steps to access our BNI Online™ Virtual Chapter Meeting, visit website.
Las Vegas Real Estate Investors Association - Weekly Power Lunch For Real Estate Investors: 11 AM - 1 PM (Every week on Thursday). Request to join here.
Free Salsa Classes @ Feel The Music Dance Studio: 7 - 8 PM (Every week on Thursday). Visit the website to register online.
Summerlin Bitcoin Happy Hour, SG Bar, 9580 W Flamingo Rd, Las Vegas: 6:30 PM (Every week on Thursday)
Coed Soccer - Summerlin: Crossings Park, 1111 Crestdale Ln, Las Vegas: 7:30 - 9:45 PM (Every week on Tuesday/Thursday)
Friday
Find Your Yoga Las Vegas - Flow & Yin W / Noé Hilyard @ Yoga Sanctuary: 6 - 7:15 PM (Every week on Friday) View Yoga Sanctuary's full schedule.
Swing Dancing in Las Vegas Vintage and Modern Swing Dances @ The Mint Tavern: 7:30 - 8:30 PM (Every week on Friday)
Saturday
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Find Your Yoga Las Vegas - Saturday Morning Meditation with Practitioner Selina Kelly @ Yoga Kandy, LLC. Cost: Love Donation $5-$10 suggested. 11 - 11:45 AM (Every week on Saturday)
Sunday
Las Vegas Valley Bicycle Club - Sunday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Sunday)
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Level 1 West Coast Swing @ 2580 N Rancho Dr, North Las Vegas: 7 - 8 PM (Every week on Tuesday); Drop in Rate is $15, Monthly pass is $50; Register online.
⛽ Las Vegas Gas Prices
🏡 Las Vegas Faces Rising Home Prices in Nearly All ZIP Codes
A recent analysis by UNLV’s Lied Center for Real Estate, using data from Redfin, shows that home prices rose in nearly all ZIP codes across the Las Vegas Valley from 2023 to the end of 2024. According to the report, 91 percent of ZIP codes experienced price increases, highlighting a widespread upward trend in the local real estate market.
At the end of the fourth quarter in 2024, Clark County's median sale prices climbed by 6.6 percent compared to the previous year. Despite this overall growth, six ZIP codes—89085, 89014, 89119, 89129, 89110, and 89015—saw declines in median sale prices. Notably, only three of these areas—89085 in North Las Vegas’ Iron Mountain Ranch area, 89014 in Henderson’s Whitney Ranch area, and 89119 near Harry Reid International Airport—experienced a decrease of at least 1 percent.
Conversely, some neighborhoods saw significant price surges. Eleven ZIP codes, including 89139, 89122, 89117, 89166, and 89135, reported median sale price increases of at least 10 percent, indicating strong demand and limited supply in these areas.
Housing Market Challenges
The Las Vegas housing market is currently navigating a crisis influenced by several factors, including high mortgage and interest rates, a slowdown in new construction, limited available land, and increased construction and labor costs. These challenges have compounded to create a supply-demand imbalance that is driving prices higher across various housing types—multifamily units, detached condos, and single-family homes alike.
Nationally, home prices have risen in nearly every state, with only two exceptions, as housing supply struggles to meet growing demand. The COVID-19 pandemic and earlier disruptions, like the 2008 financial crisis, significantly slowed housing development, leading to a prolonged shortage that is now acutely felt across the country. Population growth has outpaced new housing developments, intensifying the pressure on available inventory.
Market Indicators
Redfin’s Homebuyer Demand Index, which measures interest in purchasing homes, has dropped 11 percent month-over-month, reaching its lowest level since August of last year. Additionally, pending home sales have declined 8.4 percent year-over-year for the four weeks ending January 12, marking the biggest decrease since October 2023. New listings are also down, showing the largest annual decline since September 2023, as prospective sellers remain hesitant to enter the market.
Outlook for 2025
Looking ahead, a new report from Wells Fargo predicts a challenging year for the local real estate market, citing elevated mortgage rates as a key factor. With borrowing costs remaining high, both buyers and sellers may continue to exercise caution, potentially leading to further constraints on housing supply.
The data suggests that the Las Vegas housing market, much like the national landscape, is likely to face ongoing challenges as it grapples with supply shortages and high demand. Until these fundamental issues are addressed, upward pressure on home prices is expected to persist, keeping affordability a concern for many prospective buyers.
🏒 Golden Knights Snap Slump With 4-1 Victory Over Panthers
The Vegas Golden Knights secured a much-needed 4-1 victory against the defending Stanley Cup champion Florida Panthers on Sunday at T-Mobile Arena, thanks to a standout performance from goaltender Adin Hill. Facing immense pressure and a barrage of high-danger shots in the opening minutes, Hill delivered one of his best games of the season, stopping 32 of 33 shots and anchoring a strong defensive effort from his team.
The win was a crucial one for the Golden Knights, who had been struggling with consistency. Entering the game, Hill had posted a 1-3-1 record over his last five starts, allowing 15 goals with a save percentage of .874. Despite those recent struggles, Hill rose to the occasion, controlling rebounds and staying calm under Florida’s physical play. The only goal he allowed was a deflected shot that left him with no chance to react.
Vegas started the game on its heels, facing an early surge of pressure from Florida. While they held an undeserved 1-0 lead after the first period, the team found its rhythm as the game progressed. Over the final 55 minutes, the Knights played a disciplined, physical style, shutting down Florida’s offense by limiting second-chance opportunities and breaking up plays before they could develop. Their strong defensive effort allowed Hill to cover the puck and regain confidence in the crease.
Sunday’s win came at an important time for Vegas. Despite leading the Pacific Division in points, the team entered the game with a 2-6-1 record over its last nine outings. They needed a confidence boost, particularly after some close losses in recent weeks. The victory against Florida was a reminder of the team’s potential, especially against a quality opponent.
With sixteen days remaining before the 4 Nations Face-Off and a two-week NHL break, the Golden Knights are focusing on building momentum. They have three games left in their current homestand before hitting the road. Coach Bruce Cassidy emphasized the importance of stringing together strong performances during this stretch, which could set the tone for the second half of the season.
Hill’s performance was especially encouraging, as he prepares to represent Team Canada at the 4 Nations tournament. If he can maintain this level of play, Vegas will have a solid foundation in net, which could be key to their success. The team is hoping this win serves as a turning point, providing the spark they need to maintain their division lead and compete for a deep playoff run.
The White House announced Sunday that Colombia has agreed to accept deportation flights of migrants from the United States, marking the resolution of a diplomatic standoff between the two countries. The announcement followed a series of escalating actions by President Donald Trump, including threatened tariffs and visa restrictions, in response to Colombia initially rejecting flights carrying deported migrants.
The dispute began when Colombian President Gustavo Petro blocked two U.S. military planes carrying deported Colombian migrants, citing concerns about their treatment during repatriation. Petro demanded a protocol that would ensure deportees were treated with dignity, criticizing the U.S. for the use of restraints on deported individuals.
In retaliation, Trump threatened 25% tariffs on all Colombian imports, with a promise to raise them to 50% within a week if Colombia did not comply. He also imposed visa restrictions on Colombian officials and suspended visa processing at the U.S. Embassy in Bogotá. Petro responded by ordering a 25% tariff hike on U.S. imports, further escalating tensions.
By late Sunday, the White House stated that Colombia had agreed to accept the deportation flights without restrictions, and the U.S. held off on implementing the tariff increases. However, visa restrictions on Colombian officials and enhanced customs inspections on Colombian goods will remain in place until the first group of deportees successfully arrives back in Colombia.
Colombian Foreign Minister Luis Gilberto Murillo confirmed that the diplomatic impasse had been resolved and that deported Colombians would be received with “decent conditions.” The Colombian government also offered its presidential aircraft to assist with the repatriation process.
Diplomatic Strains Between Longtime Allies
The standoff highlights growing tensions between the U.S. and Colombia, historically close allies in anti-narcotics efforts. Relations have cooled since Petro, a former guerrilla leader, became Colombia’s first leftist president in 2022 and sought to distance the country from Washington’s influence.
Colombia has been a key partner in accepting deported migrants, receiving 475 deportation flights from the U.S. between 2020 and 2024, ranking fifth behind Guatemala, Honduras, Mexico, and El Salvador. In 2024 alone, Colombia accepted 124 deportation flights, demonstrating its role in U.S. immigration enforcement efforts.
Recently, Colombians have become a significant presence at the U.S.-Mexico border, aided by visa policies that allow them to fly to Mexico and bypass dangerous routes like the Darién Gap. Over 127,000 Colombians were apprehended for illegal crossings during the 12 months ending in September, ranking fourth among nationalities.
The Broader Context of U.S. Immigration Crackdown
The clash with Colombia is part of Trump’s broader campaign to crack down on illegal immigration, including using active-duty military to assist with border security and deportations. Similar deportation flights have already resumed to countries like Guatemala and Honduras, which received nearly 200 migrants in recent days.
As the U.S. ramps up deportations, tensions with other countries over the treatment and acceptance of deported individuals could continue. A senior U.S. official emphasized that countries have an obligation to accept their repatriated citizens, framing the outcome with Colombia as a warning to other nations.
Economic and Political Stakes
The diplomatic spat unfolded against the backdrop of deep economic ties between the U.S. and Colombia. The South American nation is the fourth-largest overseas supplier of crude oil to the U.S., shipping 209,000 barrels daily last year, and the largest supplier of fresh-cut flowers to the U.S. Despite these ties, the standoff underscores the shifting dynamics in U.S.-Colombia relations.
The White House framed the resolution of the dispute as a victory for Trump’s tough stance on immigration enforcement. However, the episode also exposed underlying tensions with a key regional partner, signaling potential challenges ahead as both nations navigate their evolving relationship.
🏈 Allegiant Stadium to Host 2027 CFP National Championship Game
Las Vegas was officially announced as the host city for the 2027 College Football Playoff (CFP) National Championship, a landmark event scheduled for January 25, 2027, at Allegiant Stadium. The announcement was accompanied by a visually stunning video featuring Strip headlining magician Shin Lim. In the video, Lim performed a card trick that culminated in the transformation of the iconic "Welcome to Las Vegas" sign into one reading "Welcome 2027 National Championship."
The event underscores Las Vegas’ emergence as a premier destination for major sporting events. The city has gained national attention for its state-of-the-art venues and unique energy, making it a sought-after location for hosting high-profile games. The CFP National Championship is expected to bring a collegiate spirit and passionate fanbase to the city, further cementing its reputation as a hub for sports and entertainment.
The Las Vegas Convention and Visitors Authority (LVCVA), which has long eyed the college football title game as a priority, recently approved a contract of up to $40 million to host the championship. According to LVCVA President and CEO Steve Hill, the successful hosting of previous events, including the Super Bowl in 2024, played a pivotal role in securing the CFP National Championship. Hill highlighted the vibrant and unique atmosphere associated with college football, noting the enthusiasm and strong fan presence that sets it apart from other sporting events.
Hill also noted the difference between hosting the CFP National Championship and the Super Bowl, emphasizing the distinct college atmosphere. The CFP championship provides more ticket access to the competing teams' fans, creating a stadium environment dominated by school colors, chants, and traditions. Hill pointed to the recent championship game between Ohio State and Notre Dame as an example, where the stadium was evenly split between passionate fanbases, with school bands and spirited cheers filling the venue.
The 2027 championship game follows the 2026 CFP title game, which will take place at Hard Rock Stadium in Miami. By hosting the event, Las Vegas joins an elite group of cities that have hosted a Super Bowl, a CFP National Championship, and the NCAA Men's Basketball Final Four. The city is set to host the Final Four in 2028, further solidifying its standing as a premier destination for marquee sporting events.
Lisa Motley, vice president of sports and special events with the LVCVA, highlighted the significance of hosting such high-profile events. She stated that Las Vegas’ ability to execute large-scale events has made it an attractive option for organizations like the CFP. The city's successful hosting of the 2024 Super Bowl was instrumental in showcasing its capabilities to CFP officials.
The CFP National Championship will bring tens of thousands of fans to Las Vegas, offering an unparalleled opportunity to experience the city’s vibrant atmosphere and world-class hospitality. With Allegiant Stadium as the centerpiece, Las Vegas is poised to deliver a memorable experience for college football fans nationwide.
Summerlin South, NV Demographics
What is the population of Summerlin South?
What are the employment statistics in Summerlin South?
How many households are there in Summerlin South?
What are the median and average incomes in Summerlin South?
How many homeowners and renters are there in Summerlin South?
What is the level of education in Summerlin South?
What is the marital status of Summerlin South residents?
What are the most common means of transportation in Summerlin South?
Methodology & Disclaimers
Demographic data shown in this section was gathered from the latest U.S. Census Bureau release, the 2022 American Community Survey. The information is updated yearly, as soon as new data is made available by the US Census Bureau.
No representation, guarantee or warranty is made as to the accuracy or completeness of information modified or aggregated for specific neighborhoods and/or zip codes.
Zip codes included in this demographic data: 89135
📌 🏠 Summerlin South - December 2024
*Median Sold Price By Bedroom Count
This is the middle price for which all homes in the area were sold based on the number of bedrooms. Half of all the homes sold were below this price, and half were above.
Visit here to see the entire report.
📌 ✅ We Want To Spotlight Your Business!
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