Booming real estate market increases business at Lake Las Vegas - FOX5 Vegas - KVVU

Booming real estate market increases business at Lake Las Vegas

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The village at Lake Las Vegas appears in this image from June 21, 2016. (Source: FOX5) The village at Lake Las Vegas appears in this image from June 21, 2016. (Source: FOX5)
LAKE LAS VEGAS (FOX5) -

A booming real estate market has turned things around at Lake Las Vegas.

Investment experts said it has improved business at the restaurants, hotels, the golf course, and water sports businesses. A new sports club has also been built at Lake Las Vegas. 

Executive Vice President of Raintree Investment Corporation Cody Winterton said in 2009 home prices averaged around $250,000.The current average is $490,000, a substantial increase.

Winterton says they’ve seen more people wanting to build custom homes right on the water, so investment companies are catering to that. At the same time, more people are going to Las Vegas to visit as well, boosting the hotel business.

“Their occupancy rates have improved. We have a golf course that’s filled up, so overall as the real estate market has gotten better, Lake Las Vegas has seen a big increase in business,” Winterton said.

Winterton said another reason for the increase is easier access to the lake with Galleria Parkway.

“As the market's gotten better, Henderson's starting to grow up. We have been able to build major roads so we have two connections into Lake Las Vegas. It takes about ten minutes to get to Costco now and the new Galleria mall renovations and all the restaurants, so it's never been more convenient to live at Lake Las Vegas,” Winterton said.

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