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Las
Vegas Real Estate Report > Homes for sale
Homes for sale
Throughout the Las Vegas Valley, Las Vegas homes for sale are moving quickly.
In 2003, the Las Vegas real estate market broke records in almost every category.
A record number of new building permits were issued, and the record for new homes
sold was 2,290 more than the 2001 record, a 12.1% increase. Resales were up 30%
over 2002 sales. It is anticipated that the market for Las Vegas homes for sale
will stay strong until interest levels increase: many buyers are pushing to acquire
homes now, while the interest rates are so low. There is more activity in the
Las Vegas real estate market than in any other in the country right now.
New Las Vegas homes for sale frequently have to be assigned via lottery, sometimes with hundreds of hopeful buyers on the waiting list in the hottest areas. Resales are strong everywhere, and houses in the low and medium price ranges are often sold within hours of being listed. Most houses under $200,000 sell for the asking price within a week if they are properly priced for the current market conditions. Las Vegas homes for sale in the $350-500,000 range typically sell within three months. The median price of new Las Vegas homes for sale was $209,000 as of December 2003; the median price for resale property was $180,000.
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Las Vegas homes for sale in the master-planned communities are most popular and can be hard to come by. Most neighborhoods do not have standing inventory of new releases, and resales must be acted upon right away, as they are snapped up quickly. Retirement communities represent a growing percentage of Las Vegas homes for sale. Overall, the most sales in 2003 were in Sun City Anthem, Siena and Sun City Aliente, all retirement communities.
Investors have been all but pushed out of the new home market in Las
Vegas, as it is believed to lower the property value of a neighborhood.
People who don't intend to live in a house tend to invest in it less,
and the renters they bring in also have less of a stake in upkeep.
New home releases typically limit the number of investors who may
purchase, and some don't allow any.
More resources about Las Vegas, Summerlin and Henderson homes. Additional
resources for homes for
sale in the Las Vegas Valley.
Click Here For Instant, Free, Easy Las Vegas MLS Search
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