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Las Vegas Homes Sitting Longer On Market
Vegas housing getting stagnant, Boyd Gaming bets on Cadence development, F1 and LVCVA ink a deal
Brian Pena
August 06, 2024
Good Morning, Vegas Local. Welcome to Vegas Local Times, your all-access pass to local buzz that pays out more than a loose slot!
In today’s Vegas Local Times:
Vegas housing getting stagnant
Boyd Gaming bets on Cadence development
F1 and LVCVA ink a deal
Let’s get into it.
~ Adam Porsborg and Brian Pena
GENERAL NEWS
Vegas Housing Market: Hot as the Strip, Stuck as the 15 at Rush Hour
Our housing market's pulling a Houdini - disappearing act for some, magic show for others. Nearly 60% of homes are lounging on the market longer than 1 month. Why? It's like a high-stakes poker game where sellers are betting big, but buyers aren't ready to call their bluff.
Sellers are pricing homes high, while buyers aren’t offering more due to those sky-high mortgage rates. It’s not all gloomy though.
Affordable homes in prime spots and fairly priced luxury pads are still hot commodities. And get this - we're leading the pack with a 17.5% boost in new listings. So, whether you're buying or selling, patience might just pay off!
BUSINESS NEWS
Boyd Gaming Rolls the Dice on Henderson with New Casino Project
Boyd Gaming is shaking things up in Henderson with their first ground-up casino in nearly two decades. Cadence Crossing, a 10,000-square-foot gaming haven, is set to break ground this year and open its doors by early 2026.
This new hotspot will feature 450 slot machines, food and beverage outlets, live entertainment, and more. It's all part of a $100 million spending spree that Boyd's cooking up. The casino will replace the old Joker's Wild, giving the area a fresh new look.
Why Henderson? Well, the Cadence community is growing faster than the line at the Bacchanal Buffet. With 5,000 homes and more on the way, Boyd sees potential that's too good to pass up.
This expansion follows recent room renovations and signals MGM's commitment to keeping Bellagio at the forefront of Las Vegas luxury. The stakes are high, but MGM seems confident in its hand.
THINGS TO DO
FOR THE WEEK OF 8/6 - 8/12
FAMILY FRIENDLY
Bluey's Big Play at The Smith Center
On August 10, bring the kids to see "Bluey's Big Play" at Reynolds Hall in The Smith Center. This live theater adaptation of the beloved children's TV show is filled with fun and laughter, perfect for a family outing.
Cirque du Soleil - Mystère at Treasure Island
Experience the magic of "Mystère," a Cirque du Soleil classic, on August 9. This show combines stunning acrobatics with mesmerizing performances, making it a fantastic choice for families looking to enjoy a magical evening together.
Discovery Children's Museum
Open daily, the Discovery Children's Museum offers a world of exploration and learning. With interactive exhibits like The Summit, a 70-foot tower of science fun, this museum is a great place for kids to discover and play.
Mad Apple by Cirque du Soleil at New York-New York Hotel & Casino
On August 5, catch "Mad Apple," a Cirque du Soleil show that blends comedy, music, and stunning acrobatics. It's a fresh take on Las Vegas entertainment, offering something new and exciting for all ages.
Hershey's Chocolate World at New York-New York Hotel & Casino
For a sweet treat, visit Hershey's Chocolate World. Kids can create custom chocolate bars and enjoy interactive experiences, making it a delicious and fun stop during your family adventure.
NIGHTLIFE
Free Cocktails at The Las Vegas Strip Hot Spot
Experience a taste of luxury on August 10 at a popular Las Vegas Strip venue offering free cocktails. This special event is part of a limited-time promotion celebrating the venue's new cocktail menu. Enjoy unique and expertly crafted drinks as you unwind in a chic setting.
Jerry Seinfeld at Caesars Palace
On August 9-10, enjoy a night of laughter with legendary comedian Jerry Seinfeld at The Colosseum at Caesars Palace. His sharp observational humor and timeless jokes make for an unforgettable evening.
Ne-Yo at Wynn Las Vegas
Don't miss R&B superstar Ne-Yo performing at Wynn Las Vegas on August 7 and 9-10. His smooth vocals and hits like "Miss Independent" make this a must-see concert for a romantic and soulful night out.
Christina Aguilera at The Venetian
On August 2-3, and 30-31, experience the powerful voice of Christina Aguilera at The Venetian. Known for her dynamic stage presence and vocal prowess, Aguilera promises a night of unforgettable performances.
Mariah Carey at Park MGM
Catch the iconic Mariah Carey live at Park MGM from August 2-10. Known for her incredible vocal range and classic hits, this concert offers an evening of elegance and pop diva energy.
GOVERNMENT NEWS
Building a Better Future: Rosen's Plan to Tackle Nevada's Housing Crunch
Senator Jacky Rosen is laying the foundation for a solution to our housing shortage. Her new bill, the CONSTRUCTS Act, aims to boost our construction workforce fast
The plan? Create a grant program for housing construction education at community colleges and trade schools. It's all about increasing our housing supply to help Nevada families find affordable homes.
With backing from organizations like the National Association of Home Builders and local chambers of commerce, this could be a game-changer. The construction industry needs about 400,000 more workers to meet demand and this could be the opportunity to fill that shortage.
WEATHER
Steady Heat With Low Chance Of Rain
Tuesday 8/6
111 🌡️ 86 | 🌤️ | 💧 1% | 💨 SE 12 mph
Wednesday 8/7
107 🌡️ 85 | 🌥️ | 💧 1% | 💨 SE 12 mph
Thursday 8/8
105 🌡️ 84 | 🌤️ | 💧 2% | 💨 SE 10 mph
Friday 8/9
105 🌡️ 86 | 🌤️ | 💧 5% | 💨 SE 11 mph
Saturday 8/10
105 🌡️ 85 | 🌤️ | 💧 13% | 💨 SE 12 mph
Sunday 8/11
106 🌡️ 82 | 🌤️ | 💧 10% | 💨 S 15 mph
Monday 8/12
104 🌡️ 80 | ☀️ | 💧 3% | 💨 S 15 mph
SPORTS
Vegas Revs Up Its F1 Connection: LVCVA Inks Multi-Million Dollar Deal
The Las Vegas Convention and Visitors Authority (LVCVA) is shifting into high gear with a new $12 million sponsorship deal with Formula One. This 18-month partnership, covering 15 races over two seasons, puts our city in the fast lane of global sports entertainment.
Last year's inaugural Las Vegas Grand Prix was a jackpot for the city, drawing 316,000 attendees and generating a $1.5 billion economic impact. Now, the LVCVA is doubling down on F1, aiming to keep Vegas top of mind for millions of fans worldwide.
The deal includes hosting fan events at select races globally, trackside branding, and website presence. While there were some speed bumps with last year's event setup, organizers promise a smoother ride this time around.
With this turbocharged partnership, Vegas is racing towards its goal of becoming the undisputed Sports and Entertainment Capital of the World.
Thanks!
If this edition hit the spot, spread the word faster than rumors of Ben and J Lo getting a divorce.
Until next time, keep exploring and enjoying all that Vegas has to offer!
Adam and Brian