http://johni.cbvegas.com/blog/archive_202603/sort_entrydatetime-desc/ Another strong signal for where Las Vegas is heading. Red Ridge Development’s plan to start construction this spring on its luxury high-rise in Symphony Park reflects more than one project moving forward. It reflects continued confidence in the long-term future of vertical residential development in urban Las Vegas. As land becomes more constrained and the city continues to mature, well-positioned high-rise and mixed-use product in the right locations should only become more relevant. From a developer services perspective, this is another reminder that product, location, timing, and vision all have to align for these projects to create real momentum. Las Vegas Review Journal Article on Cello Tower  http://johni.cbvegas.com/blog/21464/cello-tower-update/ Mon, 30 Mar 2026 02:17:52 -0800 Contour Homes, a locally owned and operated homebuilder, has officially broken ground on its newest residential product line, Dovetail, marking a significant step forward in delivering feature-filled, attainable housing across the Las Vegas Valley.The inaugural Dovetail community will be located near Decatur Boulevard and Lake Mead Boulevard in Northwest Las Vegas, with additional locations planned throughout the Valley.The groundbreaking event brought together local leadership, development partners, and industry stakeholders, including Councilwoman Shondra Summers-Armstrong (Ward 5); Mo Seebeck, Owner and Operator of Contour Homes; and John Ritter, a Dovetail investor and veteran development executive with a track record of contributing to some of Southern Nevada’s most recognized master-planned communities.Also in attendance were Bob Hamrick, Chairman and CEO of Coldwell Banker Premier Realty, the exclusive listing brokerage for the community, and Brian Krueger, Senior Consultant with Coldwell Banker Premier Realty overseeing sales and marketing for Dovetail.“This is a homegrown project, designed with real functionality in mind,” said Mo Seebeck. “Dovetail offers features that matter — a backyard, four bedrooms with walk-in closets, and a layout that supports how people actually live. Combined with a location that opens the door to a range of financing options and quick access to our employment centers on the Las Vegas Strip and elsewhere, this is about creating a genuine opportunity for buyers to enter the market with confidence.”Councilwoman Summers-Armstrong emphasized the importance of continued investment in Ward 5, highlighting housing as a shared priority across communities.“As the Dovetail name suggests, this is about building something to last,” said Summers-Armstrong. “This development represents meaningful investment in the community and creates more opportunities for residents to become homeowners and take part in the long-term stability that comes with it.”The Dovetail product features modern, efficient floor plans designed for today’s lifestyles. Townhomes will offer approximately 1,539 square feet, with four bedrooms, 2.5 bathrooms, and two-car garages, along with private outdoor space and contemporary interior features.Additional design elements include open-concept living areas, well-appointed kitchens with islands, backsplashes, and energy-conscious systems such as tankless water heaters and dual-zone climate control.Positioned as a scalable housing solution, Dovetail is intended to bridge the gap between entry-level and move-up housing, offering a product that balances design, efficiency, and long-term value.“If there’s one thing we can all agree on, it’s that housing is a bipartisan priority at every level,” said Bob Hamrick, Chairman and CEO of Coldwell Banker Premier Realty. “Developments like Dovetail play an important role in expanding attainable housing options, and we’re proud to partner with Contour Homes to bring this product to the market.”Pre-sales for the first Dovetail community are expected to begin in April 2026.Contour Homes currently has two additional active communities: Persona in Henderson, featuring luxury residences, and Lakeview at Villa Florence in Boulder City, offering Mediterranean-inspired paired homes with lake views. For more information, visit contour.homes. About Contour Homes Contour Homes is a Las Vegas-based homebuilder focused on delivering well-designed residential communities that prioritize functionality, quality, and long-term livability. With a growing portfolio of projects across the Valley, Contour Homes continues to bring innovative housing solutions to market while maintaining a strong commitment to local development. http://johni.cbvegas.com/blog/21462/contour-homes-breaks-ground-on-dovetail/ Wed, 25 Mar 2026 04:19:54 -0800 The traditional benchmark of six months of supply as a “balanced” housing market likely no longer applies—particularly in Las Vegas. A more accurate measure of balance is price behavior. Prices reflect the combined effects of supply and demand, and periods of stable or sideways movement suggest equilibrium.Over the past 24 months, median single-family home prices have generally ranged between $465,000 and $489,000, with multiple stretches of flat or minimally changing values. During this same period, months of supply never exceeded six months and has more commonly remained in the 3–4 month range. Despite this lower level of inventory, pricing stability indicates that the market has, in practice, been relatively balanced—suggesting that today’s equilibrium likely exists below the old six-month benchmark.Breaking the data down geographically reveals greater variation. Some areas exceed six months of supply, while others remain firmly in seller-favorable territory. Notably, lower inventory is not limited to more affordable neighborhoods. Desirability and purchasing power both play a role, and higher-income buyers can often sustain demand in more expensive areas more effectively than lower-income buyers can in entry-level markets. As a result, several of the Valley’s higher-priced areas—such as 89144, 89052, and 89129—still exhibit relatively low months of supply. This highlights how supply must be viewed in the context of recent absorption and local demand/supply dynamics. Why this matters: Relying on outdated rules of thumb like the six-month supply benchmark can lead to misreading current market conditions. In today’s environment, pricing trends and localized supply-demand relationships provide a more accurate picture of market balance. For investors, developers, and brokers, this means decisions should be based less on legacy metrics and more on real-time signals of demand, pricing stability, and submarket performance. Months-of-Supply and Median Single Family Home PricesSource: LVR, Coldwell Banker Premier Realty. http://johni.cbvegas.com/blog/21460/looking-at-months-of-supply/ Mon, 23 Mar 2026 10:44:26 -0800  96 sup, sub { font-size: 100% !important; } sup { mso-text-raise:10% } sub { mso-text-raise:-10% } .forceBgColor{background-color: white !important}?The latest Las Vegas Real Estate Report revealed an important shift in the local housing market. After years of rapid growth and pandemic-era activity, the market is now entering a more balanced phase where supply, pricing, and buyer behavior are beginning to normalize. Inventory Is Rising One of the most noticeable changes has been inventory growth, giving buyers more options and creating greater competition among sellers. As inventory expanded, sellers faced increased competition not only from other listings, but also from homebuilders offering incentives and mortgage rate buydowns to attract buyers. Mortgage Rates Influenced Buyer Activity Mortgage rates played a major role in shaping buyer activity throughout the year. Higher borrowing costs slowed transactions during much of the traditional buying season. Toward the end of the year, mortgage spreads improved and rates began trending lower, a shift that could help support future housing activity. Migration Continues Supporting Housing DemandPopulation trends continue to support long-term housing demand in Southern Nevada. Migration remains positive, with California markets continuing to serve as a major source of new residents moving to the region. Key Takeaways from the 2025 Market Median price for existing single-family homes: $470,000 at the end of 2025.Housing inventory expanded roughly 20% year-over-year, giving buyers more options.Mortgage rates improved toward year-end, moving closer to 6% as spreads narrowed.Los Angeles remained the largest source of new residents, representing about 35% of inbound moves.Luxury housing continues to grow, highlighted by a top residential sale of $25.25 million in 2025. A Market Moving Toward Balance Overall, the Las Vegas housing market is transitioning into a more sustainable cycle. Buyers are seeing more opportunities, sellers are adjusting expectations, and long-term fundamentals such as migration and lifestyle appeal continue to support housing demand across the valley. Read the full report to learn more about the trends shaping the Las Vegas housing market and what they could mean moving forward.  READ THE FULL REPORT ?Our Premier Service Companies? ©2026 Coldwell Banker Premier Realty. All rights reserved. Coldwell Banker Premier Realty upholds the principles of the Fair Housing Act and the Equal Opportunity Act. If your home is listed with another REALTOR®, please disregard. It is not our intention to solicit the offerings of other brokers. http://johni.cbvegas.com/blog/21457/the-las-vegas-real-estate-report/ Thu, 12 Mar 2026 06:48:09 -0800 The Origin Story: Origin at Symphony ParkSymphony Park, a premier masterplan west of Downtown Las Vegas, is integral to Las Vegas' past and is a growing part of its future.The railroad is closely tied to the genesis of Las Vegas and particularly to Symphony Park and Downtown Las Vegas. In 1905 William Clark of Montana, and partners developed the San Pedro, Los Angeles & Salt Lake Railroad, which tied together a huge swath of the nation between Southern California and Utah. Clark built another railroad and ultimately auctioned off railroad land holdings, which formed what is now Downtown Las Vegas.Symphony Park was organized by Mayor Oscar Goodman and the City of Las Vegas. Seeing the potential for a large parcel right in the middle of the metropolitan area, Goodman led a deal with the Union Pacific Railroad and the City which secured ownership of the now Symphony Park land. The City now had an essentially clean slate from which to express a new urban vision.Pioneered by the Lou Ruvo Center for Brain Health, the master plan now hosts The Smith Center for Performing Arts, The Children’s Discovery Museum, multifamily projects such as Auric and Parc Haven, as well as the under-construction Capella and Bria luxury apartments and the AC/Element Hotel. Goodman’s foresight transformed a vacant former railroad depot into a premium urban environment, recognizing Las Vegas’ ability to elevate what had otherwise been stale.As part of the transformation, Origin at Symphony Park recalls the history of the city, which began in this area, while embracing the dynamism of modern amenity-filled urban living. Origin serves as both a recollection of the city’s unassuming past and a monument to the human connection that urban landscapes inspire.From a basic start with tents and cabins in the early 20th century, what is it about Las Vegas that caused urban growth at such an amazing level? In the early days, gaming certainly played a role, but more central to that nascent growth was water. Water for both locomotives and livestock.Later, Boulder Dam (now Hoover Dam) made water use more reliable and hydroelectric production made air conditioning possible, enhancing livability. The Smith Center for Performing Arts building is inspired by the same era when Hoover Dam was built, a character that sets it apart from projects on the Las Vegas Strip which often mimic other places.In a similar sense, Cello Tower interior finishes respect the best design attributes of prior periods while integrating modern design and technology, producing an image of enduring value.Climate is a key part of Las Vegas’ growth. In Glaeser’s Triumph of the City: How Our Greatest Invention Makes Us Richer, Smarter, Greener, Healthier, and Happier, weather is central to modern growth, writing “over the last century, no variable has been a better predictor of urban growth than temperate winters.”Las Vegas certainly has this feature, and growth has reflected that in both population and urban design. Patio dining, swimming pools and outdoor entertainment areas now abound. Cello Tower is conceived with amenities that allow owners to experience the favorable Las Vegas climate, where pool season lasts seemingly forever and views of the Valley’s colorful topography serve as a natural backdrop for the bustling manmade environment.From railroad land to a connected luxury lifestyle, we’ve moved a long way from tents and cabins to 32 stories packed with amenities few could have conceived at the beginning of Las Vegas.Union Plaza Hotel in 1973Notice the railroad assets on what is now modern-day Symphony Park. UNLV Special CollectionsSymphony Park and Surrounding Areas: 2025Symphony Park and Surrounding Areas: 2019SourcesHistoric Photo Sourcehttps://special.library.unlv.edu/ark:/62930/d1ht2gb2sPhotograph of the first tent in Las Vegas, Nevada, circa 1904-1905 | UNLV Special Collections PortalSwinging the March of Empire Southwestward City of Las Vegas TimelineClark County GISMO. http://johni.cbvegas.com/blog/21456/the-origin-story:-origin-at-symphony-park/ Wed, 11 Mar 2026 09:44:30 -0800