Jul 14 2017 35913 1

Jul 14 2017 35913 1

Reports suggest that the Las Vegas real estate market in Nevada is closer to long-term stability than it has been in the last five years. Over those five years, the region has seen significant improvements. Current trends in the area indicate no significant fluctuations, suggesting true normalcy may be on the horizon. The city’s stimulation is due, in large part, to a heavy presence of foreign and domestic investors looking to capitalize on the buy and hold market. Subsequently, the luxury home market realized significant increases in activity over a similar period, but has begun to temper over the last year. By the fourth quarter of 2014, cash purchases were at a five-year low. Such a development was shocking to see in a city where cash purchase were once so prominent.

The Las Vegas real estate market currently boasts a median home price of $203,000, nearly $14,000 less than the national average. However, in getting there, Las Vegas had to make significant strides over the course of a year. In the last 12 months, Las Vegas homes have appreciated 11.6 percent. While prices are certainly up from this time last year, the rate of appreciation has begun to ease. That said; just three short years ago, Las Vegas homes appreciated a whopping 65.4 percent. Seeing as how Las Vegas was one of the markets most impacted by the recession, it had a long way to go in its recovery.

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Yaniz Beltran Headshot
Phone: 702-677-9001
Dated: July 15th 2017
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