Let’s take a look at what’s going on in Las Vegas and Clark County. You might be surprised at how things are really going. You may even be surprised at where in Las Vegas everyone is moving to, we are.
Updated for June ’06: New Home Sales are up 11.9%. This is largely due to the sometimes-massive incentives being offered out to homebuyers.
Resale Home Sales are down 18.6%. This too is partly due to the tough competition from the new home sellers. The other factor, we think, is that many resale homeowners and their real estate agents are still overpricing these homes for the type of market that we are in. It is not the time or place to try and tell the market what your house is worth. The market will set your price for you. Be reasonable and adjust your thinking, we are not 2 years ago or even 1 year ago.
New Home Median Prices are up 16.8% to $328,702. That’s fine because that will only drive up your home prices. The new homebuilders really are a driving force in the appreciation in this Las Vegas market. They do not want to upset their buyers by lowering their prices below what they paid for them so what the home builders do is raise the price but offer greater incentives because they know that the house isn’t really worth what they are asking for it.
Resale Median Home Prices are up 5.8% to $285,000. That’s what happens when 4,000–7,000 net people move into your city every month. Resale home have a special feel to a lot of people who move to Las Vegas as well.
As of June ’06, Clark County population is 1.81million.
You might be interested where the “Hot” areas of Las Vegas are:
- 37.01% of people are moving to North West Las Vegas
- 34.34% are moving out to the South East Las Vegas/Henderson
- 14.53% are moving to the South West Las Vegas
- 7.16% are moving to North Las Vegas
- 6.96% are moving to the North East
As always, we are affirm that Las Vegas is #1 on our list of places to live. With people form all over the world moving to Las Vegas you can’t loose. Contact us to be your Real Estate Agents so that you know you are getting the best and brightest in the industry. We will help you sell or buy your home and your goals will be realized.
