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Monday, April 25, 2016

Mini Boom in Southwest Las Vegas

According to a recent Vegas Seven article, the southwest area has seen a mini boom recently. The new IKEA is opening soon, but there is also a lot of other growth in the area as well, which includes commercial and residential. The southwest has the most available underdeveloped land, which has been a big factor for the recent growth.

“IKEA stores exist for the permanent residents of the area, not the tourists,” Roth says. “We want to be there for people to be able to furnish their homes.” Which is why Roth says the store was not built on the strip. IKEA has been waiting for Las Vegas to hit the target population and then they moved forward. 

In addition to IKEA, there is a St. Rose hospital being built. It will be one of the four new hospitals built. It will employ 100 people. 

On the residential side, master-planned communities such as Mountain's Edge, Rhodes Ranch, and Southern Highlands has continued to grow. "Last month, SalesTraq reported that home prices in some of the ZIP codes in the southwest had appreciated higher than any other part of the Valley. For instance, Mountain’s Edge’s 89178 and 89179 had appreciated by 6.8 percent and 7.9 percent, respectively. The 89141 ZIP code of Southern Highlands had appreciated by 8.9 percent since 2015, and was ranked as the 10th-best value in the Valley."

Want to see a video tour of one of the new homes?

Shawn & Kyle Cunningham
Cunningham Group at RE/MAX Advantage | 702-960-4819 Shawn | 702-960-4819 Kyle
Source: Las Vegas Seven

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