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The land auction of May 15, 1905 is considered to be the birth of Las Vegas. Senator William Clark of Montana had paid $55,000 to Helen Stewart for about 2,000 acres east of his new railroad stop. He made about $250,000 from the 1,200 plots he sold. A year before, James T. McWilliams had filed a claim on 80 acres still available west of the Stewart property, and started selling them for as little as $100 a lot. "Double your money in 60 days," his ad claimed, when faced with competition from William Clark. From 19 residents in 1900, Las Vegas' population reached 40,000 in 1955, the year when Life magazine published an article stating that Las Vegas was overextended. Today, the Las Vegas valley's population (the cities of Las Vegas, North Las Vegas, Henderson, as well as several unincorporated townships and neighborhoods) is 1.8 million; the population of the state of Nevada is 2.5 million.

Between six and seven thousand people move into the valley every month, a trend that started in the early 1990s. The number of visitors reached 38.5 million in 2006.

Real estate in Las Vegas covers the entire spectrum of homes—from the multimillion-dollar estates to entry-level single-family homes and condos, from living in the fast lane on the world-famous Strip, to quiet neighborhoods just like living in Little Town America.