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Las Vegas has seen a tremendous increase in sales price from the same homes that sold one year prior. Las Vegas real estate and Henderson Nevada real estate appreciation rates sky rocketed to over 40% from January 2004 to July of 2004. Since this time these homes that sold all throughout the Las Vegas Valley have returned to a more realistic appreciation trend to help the valley avoid producing an over inflated real estate market.
The National Association of Realtors chief real estate economist projected that Las Vegas homes sold from January 2001 to the year 2008 would see a 200 percent increase in sale prices during that period. The median homes price in Las Vegas from Jan 2004 to July 2004 was around $300,000 since this time we are seeing homes for sale follow a trend of healthier growth that will protect home buyers in Las Vegas from over inflation.
The Las Vegas New Homes market is still hot, but with pitfalls that most buyers need to be leery of. Today most new homes in Las Vegas being built are priced thirty to seventy thousand dollars above what these same homes and models sale for in our neighboring states. The new homes builders are offering so called incentives of cash, upgrades or closing cost to entice home buyers to stop by their developments, Don’t be fooled!! As the old adage goes you don’t get anything for free. Most of these Las Vegas homes are offering incentives and having those built right into the sales price or financing with their preferred in house lenders.
Henderson Homes
The city of Henderson consist of 221,000 residents. Homes for sale have been in high demand in the Henderson real estate market. The close location to the Las Vegas strip and the multitude of shopping, dining and entertainment that surrounds the homes are attracting home buyers by the droves. The median new homes in Henderson are priced around $242,000 with resale homes demanding $236,000.
Just recently in Henderson 1940 acres were sold for 557 million dollars for a planned new homes community that will feature various size homes mixed in with the occasional business. No other location in Las Vegas houses more master-planned communities then Henderson Nevada.
Summerlin Homes Market
New homes in Summerlin are getting more difficult to locate as home builders are having a problem finding available land. This is driving up sale prices in Summerlin and all over the Las Vegas real estate market for new and resale homes.
Entry level Summerlin homes are priced around $300,000 for resales and almost double that for new homes. Some standing new home inventory remains although selling for top dollar.
Homes for sale in Las Vegas are a Hot Commodity with the city of Henderson leading the way for resale homes its no wonder the real estate market is attracting buyers that are looking for excitement and a way of life that no other city can offer other then in Las Vegas. Contact Wayne with Century 21 Advantage Gold.
Use my Homefinder Form and allow me to locate for you and your family some of the best homes for sale in Las Vegas, Summerlin and Henderson Nevada real estate market.
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