#lasvegascondos

[yelenahorton]

Custom Homes: 5 Reasons why they’re Worth It 101

5 Reasons why they’re Worth It. Join us as we delve into the top 5 benefits of creating a custom home tailored to your desires and lifestyle. From design freedom to personalization, discover why custom homes are the ultimate choice for those seeking luxury, comfort, and uniqueness.

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Yelena Horton | Global Real Estate Advisor

📲 702.738.6306 Always taking new referrals

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Affordable housing, reasonable tax options and incentives for businesses, and a slew of ongoing construction projects have thrusted Las Vegas to the forefront. The Las Vegas Chamber of Commerce announced recently that the city ranks first in the country for population growth, business growth, and wage growth with perpetuating trends in 2019. ✅🏡 Search Las Vegas Homes ✅👇 Tap Link In Bio Section @thevegasrealestateagent 📸 @somethin.new.co 📝 Hermann Brumm #VegasStrong #VegasBorn #FastestGrowingCity #LasVegas #LasVegasStrip #LasVegasParty #LasVegasLife #LasVegasHomes #LasVegasRealtor #LasVegasCondos #LasVegasLocal #LasVegasEvents #LasVegasLiving #LasVegasClubs #LasVegasViews #LasVegasSunsets #LasVegasRealEstate #LasVegasRealEstateAgent #realtorlife #realtor #realtorlife #vegas #vegaslife #vegasliving #vegasfun #threekeysrealestate #thepheegroup #kellerwilliams #kellerwilliamsrealty #kellerwilliamsagent (at Las Vegas, Nevada) https://www.instagram.com/p/BtK_9lHn1dp/?utm_source=ig_tumblr_share&igshid=9d1n9vmaxhmf

[lasvegasrealestatecom]

Summer Gardening for Condo Owners is a Thing!

Summer gardening for condo owners is a thing!  That's right, there’s no need to pity your condo-owner, green thumb friends – where there is even a tiny space, there are gardening possibilities. Whether you call that spot a balcony, lanai, terrace or veranda, it can be transformed into a summer garden showcase in just a few easy steps.

Keep track of the light (and heat in Las Vegas)

Take a few days to make note of where the sunlight falls on your balcony, and the length of time each spot remains sunny. You may have wide swaths that remain in complete shade all day, and that’s ok. Many plants enjoy shady spots and we’ll introduce you to some of these later on. Remember, that the sunlight and shade of today won’t match that of other seasons. As the full-on heat and sun of summer approaches, the sun is positioned differently, as it also is in fall and winter. You’ll also need to consider the heat generated by that sunlight, especially if you live in the country’s desert southwest. Experienced gardeners in Las Vegas, Nevada, for instance, have learned to ignore those little care tags that come with plants purchased at the nursery. “Plant in full sun” may be just what a plant needs in San Francisco or Portland, but put it in the full sun of Las Vegas, Nevada, and it may just fry. If you live in Las Vegas' hot-summer-weather, plant full-sun varieties in light shade, or areas where they will only receive morning sun.

Summer Gardening Accessories for condo owners

Before you head out to the nursery to buy plants, draw out a quick diagram of your space. Then, consider where you’ll put hardscape pieces and accessories. Items to consider include:

Window boxes Water feature Plant stands Table Chairs Bench Settee Oversized planting pots Lights Rug Get more ideas on accessories for your balcony garden and see the items at work on Pinterest, BalconyGardenWeb.com, and WooHome.com. If you are fortunate enough to have a small patio, you’ll find inspiration here.

Lighting

Sometimes a garden is even more charming when the sun goes down. Balcony or patio gardens are ideal for al fresco dining, so let’s add some lighting to set the mood. String lights seem to be the current go-to for patios and balconies, and for good reason— they’re inexpensive and come in a variety of shapes. Whether you swag them at the ceiling or twirl them around patio cover supports, string lights may be the ideal solution. Check out some ideas on Pinterest.com. The flickering of candlelight adds a romantic and even tropical ambiance and you can get it with LED candles. Wayfair sells a nice assortment and some of them have timers. Get inspiration on using lanterns and candles in your small garden at Pinterest.com and TheSpruce.com.

Let’s not forget plants!

The key to enjoying your condo balcony or patio garden year-round is to include evergreen foliage plants. This way, when winter’s chill puts the flowering plants to sleep, you’ll still have greenery. Shady gardens You might be surprised at the variety of plants that can grow and even thrive in the shade. Even some plants you haven’t considered growing as ornamental, such as cat grass or Japanese forest grass, which both take well to container growing and shade. Consider these shade-tolerant plants as well: Scottish Tufted Hair Grass Fubuki Japanese Forest Grass Coleus Dichondra Bleeding hearts Viburnum Fuchsia Get additional tips on what to grow in a shady container garden at HGTV.com, FineGardening.com, and SouthernLiving.com. Container plants for full-sun balconies and patios

Calibrachoa Verbena Petunia Lantana Canna lily(gorgeous foliage and flowers!) Portulaca Hibiscus Plants to block prying eyes (or wind) Street-level condos or those located in downtown Las Vegas or on The Las Vegas Strip, surrounded by others with big windows can still be private. The strategic use of tall plants will help keep prying eyes or gusty winds at bay. Tall and dense is key here. Or, use shorter plants on stands to elevate them. Consider the following: Elderberry Hardy Hibiscus Provence Lavender Elephant Ears Hydrangea Boxwood Juniper Find more privacy ideas on Pinterest.com. Thank you for reading our post, “Summer gardening for condo owners is a thing!”  For more Las Vegas home improvement tips, information on moving to Las Vegas, investing in Las Vegas Real Estate, Las Vegas Real Estate Market News, information on Homes for sale in Las Vegas, buying a home in Las Vegas, or general real estate information please visit our website www.lasvegasrealestate.com. Read the full article

[highrisesandcondosbytbt-blog]

Palm Place Condos in Las Vegas Brought to You by The Brooks Team

Looking for honest and ethical customer service? The Brooks Team is here for you! Las Vegas High rises by The Brooks Team are bought and sold through honest and ethical means, making our transactions fast and customer-friendly.

We look out for our clients’ best interest so we can help you pick the right property that will suit you and your family the best. You can take a look at Palms Place condos in Las Vegas if you are looking for a good level of privacy.

Contact us now (702) 805-0805 and talk to a real estate agent you can trust.

[turnermacgroup]

In today's video I will be sharing some exciting news about the Las Vegas High Rise Condo hotel market and recent updates which make owning a Las Vegas High Rise Condo Hotel an excellent opportunity.

[yelenahorton]

Exclusive Luxury Event: Champagne, Caviar, and Lavish Gifts – A Night to Remember

What an incredible evening it was at the Client Appreciation event hosted at Las Vegas Sotheby's! 🌟 I want to extend my heartfelt thanks to each and every one of you for taking the time out of your busy schedules to be a part of this special gathering. Your presence made it truly remarkable! 🙏 A special shoutout to Elena Bulatova Fine Art Gallery for adding an artistic and sweet touch to our event with their sculptures and delicious popsicles for our guests. Source URL: https://www.youtube.com/watch?v=E1EaCPDqq_E

[yelenahorton]

Red Flags Every Las Vegas Homebuyer Must Know

Your dream home should be a haven, not a headache. Let me, Yelena Top 1% Agent, be your guide in navigating the Las Vegas real estate landscape. With my expertise and your vision, we'll find the perfect property that meets your high standards.

Stay informed, make savvy choices, and embark on a seamless real estate journey with me by your side.

Yelena Horton

Global Real Estate Advisor

NV S.0180578 |CA DRE 02087480 | FL SL3477632

NMLS 2084402

📲 702.738.6306 Always taking new referrals

🌐 www.luxvegascondos.com

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[lasvegasrealestatecom]

What is a "comp" in Real Estate?

What exactly is a "comp" in real estate? Why is a comp so important to the purchase and sale of your home?  A LasVegasRealEstate.com reader contacted us on our Facebook page and asked us those two fantastic questions.  Here's the answer! From Ikea product hacks to painting kitchen cabinets and refinishing countertops, Americans are absolutely hooked on the DIY craze. There are some things, however, that only a pro should tackle and that includes determining a home’s current market value. In fact, a National Association of Realtors’ survey of for-sale-by-owners found that determining an accurate price for their home was the homeowner’s most challenging task. Pricing your home too high or too low are both disastrous to your pocketbook. Real estate agents and professional appraisers in Las Vegas pretty much use the same process to determine a home’s market value. The purpose behind the two, however, is what differs, albeit slightly. Agents are determining market value whereas the appraiser’s sole purpose is to ensure that the lender isn’t loaning more than the home is worth. Both will compare your home to others. These other homes are known as “comps,” short for “comparable.” Let’s take a deeper dive into how a particular home qualifies as a comp for your Las Vegas home.

What is “market value?”

Businessdictionary.com defines market value as “The highest estimated price that a buyer would pay and a seller would accept for an item in an open and competitive market.” Well, that’s just swell. But how do we know what a buyer will pay? By investigating what recent buyers have paid for similar homes Sold homes, then, are the comps agents use when preparing a comparative market analysis. Appraisers, too, use sold homes when working on figuring out how much a home is worth. Typically, we’ll look back no more than six months for sold homes, similar in age, style and size, within a one-mile radius of yours. Yes, there are times we need to look further back in history or extend the radius, but not often.

Now you get to find out why we say it three times

Proximity is an important factor when searching for comps. So important, in fact, that some lenders require that their appraisers search no further than one-mile in all directions if the subject home is in the suburbs and five miles in rural locations. We, as real estate agents, have a bit more flexibility. We typically start our search for comps close to the subject property and work our way out until we have at least three comps that have sold in the past six months or so. Then, there are additional “location, location, location” aspects to compare. A home’s location can positively or negatively impact its value. Positive nearby amenities include: Parks Schools Shopping Cemeteries (A national real estate company found that homes within 100 to 200 yards of a cemetery sell for an average of $17 more per square foot than those located more than 500 yards away). Access to freeways and highways There are additional proximity amenities, some of which are specific to certain regions, such as proximity to the beach or golf course. Negative influences include: Neighborhood condition (if the neighborhood is rundown) Neighbors (hoarders, people who park their cars in their front yard, and homeowners in foreclosure) Traffic, train, airport or other noise Schools (homes in poor-performing school districts are worth less than those in high-performing districts) Oversupply of homes for sale Crime These are just a few of the ways the location of your home impacts its value.

Comparing the condition of the home

With both the real estate agent and the appraiser, the condition of your home will carry a lot of weight when viewing the comps. First, we’ll determine if there are any deferred maintenance issues, such as leaky plumbing, overgrown or neglected landscaping, damaged flooring, cracked tiles or window glass, among others. Then, we’ll deduct value if comparable homes are in better condition or add value if they aren’t. Determining how much a home will sell for in the current real estate market depends on how much buyers are willing to pay for similar homes. Those homes, as you now know, are called “comps.” There you have it LasVegasRealEstate.com readers!  Thank you for reading our post, “What is a "comp" in Real Estate?”  For more Las Vegas home seller tips, information on moving to Las Vegas, investing in Las Vegas Real Estate, Las Vegas Real Estate Market News, information on Homes for sale in Las Vegas, buying a home in Las Vegas, or general real estate information please visit our website www.lasvegasrealestate.com. Read the full article

[lasvegasrealestatecom]

10 Las Vegas Home Improvement Projects

10 Las Vegas Home Improvement Projects. Have some time on your hands?  Looking at your home and wondering what you can do to add a few updates?  Here are 10 home improvement projects you can do now that will improve the value of your Las Vegas home.

1. Window Treatments

Windows are a huge focal point, and it pays to decorate them. It’s amazing what a simple curtain or valance can do to change the atmosphere of a room. Your bedroom can be transformed with sumptuous drapery fabrics.  A kitchen can become a country charmer or sleek and modern with the addition of the appropriate window treatments. Go online to your local fabric store to find fabrics that suit your decorating taste.  If you’re handy with a sewing machine, all the better.  Simple curtains and drapes are easy to make (check out this YouTube video walk-through) and will save you a lot of money.

2. Paint and Wallpaper

Painting a room not only adds an air of freshness but can serve as a backdrop for your decorating ideas. If your home is on the market, your color choices are limited as its best to stick to neutral colors. If the home is one in which you plan to stay for some time, don’t be afraid to experiment with your favorite colors. Here's a tip from our Preferred Partner: Residential Realtor - The Woodcock Real Estate Group in Las Vegas: If you are decorating your home because you’ll be selling it, stay away from the wallpaper. Patterns are a matter of personal taste. If you currently have wallpaper in the home we recommend it be removed and the walls painted.

3. Area Rugs

Area rugs are so versatile. Use them to accent a seating area or to add color, texture and a hint of personality to a room. Area rugs can also be used to delineate “zones” within a room. There are “rules” about the size and placement of area rugs to get the most impact. LampsPlus offers a tutorial on YouTube.   You can find additional tips at PotteryBarn.com and HGTV.com.

4. Furniture

New furniture, such as a sofa or other seating, can dramatically change the look of your living room. If there’s no room in the budget for new furniture, gently used items are widely available online.

5. Rearrange Existing Furniture

Find the focal point of your room, usually an interesting architectural element, a fireplace or a view from the window. No, the television is not a focal point. Then, rearrange your furniture to take advantage of the focal point. Learn more about decorating around a room’s focal point at RedHouseStaging.com, FreshHome.com, and TheCasaCollective.com.

6. Fun with room functions

It isn’t written in stone that a bedroom has to be a bedroom. If you don’t need a guest room or already have one, why not transform a bedroom that isn’t being used into an office, a gym, a library or even a theater room? A formal dining room that never gets used can easily become a family room.

7. Bedroom Linens

Bedrooms can be so much more than repositories for a weary body after a hard day’s work. Wouldn’t it be wonderful to come home to an oasis in the middle of a hectic world? Bedroom linens are the first step in creating this relaxing atmosphere. From comforters and duvet covers with matching bolsters and pillows to bedspreads with dust ruffles, your bedroom can easily be transformed into your refuge.

8. Lighting

Lighting is one of the decorating items most overlooked by many homeowners. Reading lamps, floor lamps and under-cabinet mounted strip lighting can all add beauty and function to your home. Large or unusual lighting can also become a room’s focal point. Here's a tip from our Preferred Partner: Residential Realtor - The Woodcock Real Estate Group in Las Vegas: If you’re redecorating to sell the home, add more lighting. You can never have too much when a home is on the market.

9. Artwork

If a piece of art speaks to you, if you enjoy looking at it, then buy it. It doesn’t matter if it’s an inexpensive reproduction or an expensive original, art is a personal preference. Art is fun, too.  Groupings of small photos or paintings can enliven any wall. Large pieces over a sofa can enhance the atmosphere in your living room. The trick to hanging artwork, even groupings, is to place it so that the center of the piece is at eye level. And, don’t limit yourself to using only photos and paintings on the walls.  Artwork can be anything from antique plates to your grandmother’s handmade quilt. Mirrors, in groupings or one dramatic piece, can make a room appear larger.

10.  A touch of the outdoors

Houseplants add color, texture, and charm to a home’s interior. Some even help keep the air clean, according to NASA. You’ll find houseplants that thrive on neglect and some that will bloom even in dark, shady corners. Yes, there are the divas of the plant world – those that require exacting care but will pay you back with amazing beauty.  Think Succulents! MiracleGro.com and BHG.com offer tips on how to choose the right plant for your home and Gardenologist.org offers a brilliant list of “80 Pet-Safe Houseplants.” Thank you for reading our post, “10 Las Vegas Home Improvement Projects.”  For more Las Vegas home Seller tips, information on moving to Las Vegas,  investing in Las Vegas Real Estate, Las Vegas real estate market news, information on Las Vegas homes for sale, buying a home in Las Vegas, or general real estate information please visit our website www.lasvegasrealestate.com. Read the full article

[lasvegasrealestatecom]

Stuck at home? Might as well Spring Clean!

Stuck at home? Might as well Spring Clean!  Here are 5 Outdoor Spring Cleaning Tips. Most of us homeowners consider spring cleaning as the project that clears the home’s interiors of winter’s nastiness. You know, the mud in the mudroom, the stale odors, the fireplace scent clinging to draperies and rugs. The home’s exterior rarely gets our spring-cleaning love, but it should, especially here in the Las Vegas valley where the winds can deposit dust just about everywhere you look.

Stuck at home? Is that grime on your garage door?

When the garage is at the front of the home, it’s even more important to keep the door clean – especially if you have an overly-picky HOA or your home is on the market. About 85 percent of garage doors today are made of fiberglass, an easy substance to clean. In fact, all it takes is a solution of warm water and a small amount of bleach, a scrub brush and a hose with which to rinse the door after cleaning. Big caution to owners of metal garage doors, ensure you follow up the rinse with a thorough drying. Otherwise, you may face rust in the future.  

Stuck at home? Whatcha gonna do with all that junk?

Your garage, when the door is closed, is a sparkling marvel for the neighbors to behold. Open that door, though, and “all that junk” is exposed for all the world to see. But, appearances, as we all know, aren’t the only things that matter. A garage is the ultimate storage solution, whether for your autos or for belongings. But it’s useless if it’s cluttered and disorganized. No, it’s not exactly a fun way to spend a Saturday afternoon, but get it done while we are all homebound and vow to keep it organized, and it may just be the one household task you are grateful you performed.  

Ew, what’s that smell?

Our HOA demands that our trash cans and recycling bins be kept in our garage. You can imagine what they smell like after sitting, full of garbage, in a garage. And, if you’re blessed with an HOA that allows your cans to reside outdoors, the stench may act as an invitation to critters. You know, rats, mice, raccoons, coyotes. We suggest using bleach to get rid of the crud and the stench. We rather like the job that ammonia does, especially when it’s allowed to sit for a time. Then, add water and get to work wiping down the walls. An old mop works well for this job or, purchase an extendable tub and tile scrubber, like this one. Naturally, you’ll want to wear gloves and a mask when working with either substance – they’re both pretty caustic. And never, ever mix bleach and ammonia. Ever. If you just can’t stand the thought of using either substance, consider a powdered cleanser or white vinegar.  

Keep spring showers outdoors

One of the best ways to avoid moisture intrusion in the home is to clean the gutters and downspouts. After a blustery fall and winter, they’re most likely full of all kinds of stuff that will impede drainage and end up backing up into the home. Need some inspiration and instructions on how to get the job done safely? Lowe’s has produced a brilliant video walk-through and you’ll find it on YouTube.com.  

Summer is coming

Whether you store your patio furniture indoors or out over the winter, it’s in need of at least a wipe down. We’d wager that it probably needs more, though. Remove the cushions and, hopefully, they have zippers and are machine washable. If not, grab a can of upholstery cleaner (Car Guys or Resolve are both highly rated) and scrub away the grime from last year. Then, get to work cleaning the chairs, table, and umbrella. Still have some energy? Grilling season is coming up so tear into that barbecue. Steel wool and scrubbing will get the mess off the grills. The pros at TodaysHomeonwer.com recommend using aluminum foil and vinegar. You can learn that technique, here. The best part about exterior spring cleaning is that it can be done in chunks. Save the projects for those spring days that aren’t sunny or warm enough to beckon you out to play. The bottom line, we are all stuck home these days.  Great chance to get your yard and garage ready for Spring. Thank you for reading our post, “Stuck at home? Might as well Spring Clean!”  For more Las Vegas home Seller tips, information on moving to Las Vegas,  investing in Las Vegas Real Estate, Las Vegas real estate market news, information on Las Vegas homes for sale, buying a home in Las Vegas, or general real estate information please visit our website www.lasvegasrealestate.com. Read the full article

[lasvegasrealestatecom]

Nevada Housing Market - February 2020

The Nevada Housing Market – February 2020 has just been published by The Lied Institute for Real Estate Studies at The University of Nevada Las Vegas. LasVegasRealEstate.com is pleased to offer the report summary here as well as a link to the entire report.

Nevada Housing Market Update – February 2020 – Summary of Findings

Mesquite saw the most robust growth in single-family home prices of any major region in Nevada as prices increased 11.0 percent year over year. The Las Vegas metropolitan area saw an increase of 2.8 percent. Laughlin saw a 12.5 percent decrease in home prices. Laughlin was the only region in Nevada where the price per square foot decreased on a year over year basis (4.5 percent). Within the Las Vegas metropolitan area, Boulder City continues to see the most robust growth in existing single-family home prices as prices increased 18.4 percent year over year. Summerlin was the only region to see a year over year decrease in existing single-family home prices as prices decreased 2.3 percent year over year. The distress share is down year over year in all regions of Nevada. Mesquite saw the largest year over year decrease in the distress share as the distress share decreased 7.9 percentage points, bringing the distress share down to 0 percent. Average new single-family home prices continue to see large monthly increases in the Las Vegas metropolitan area. New home prices are up 5.3 percent year over year in the Las Vegas metropolitan area. Within the Las Vegas metropolitan area, existing condominium prices have seen almost no monthly change for three consecutive months. Nevada Housing Market Update – New Single-Family Homes and Condos New single-family home prices saw a month-to-month increase for the sixth consecutive month. At an average price of $586,000, new single-family home prices were up nearly $30,000 year over year. Price per square foot for new single-family homes increased on a month-to-month basis for the second consecutive month. Prices still decreased on a year over year basis for the fifth consecutive month and February 2020 prices were down 8.4 percent year over year. New condominium prices have increased more than 30 percent year over year for four consecutive months. Average price per square foot for new condominium homes decreased on a month-to-month basis for the second consecutive month. Price per square foot has seen less robust growth than the overall price as price per square foot was up only 8.5 percent. The average new listing price of single-family homes increased for the fifth consecutive month. At $431,000, the average new listing price of single-family homes was the highest it had been since June 2007. New single-family listings were down more than 10 percent year over year for the fourth consecutive month. Nevada Housing Market Update – February 2020 – Existing Single-Family Homes and Condos Existing single-family home prices saw a very small month-to-month decrease after nine consecutive months with small month-to-month increases. Average prices were up 4.8 percent, or $16,000, year over year. Price per square foot for single-family homes has seen almost no change for over a year. Price per square foot was up 2.0 percent year over year Existing condominium sales increased on a year over year basis for four consecutive months, following thirteen consecutive months with year over year decreases. Existing condominium prices have seen almost no change for the last three months. Existing condominium price per square foot has seen little change in the last five months. REO The overall price for REO sales and price per square foot for REO sales increased for the fourth consecutive month. The overall price was up 11.8 percent year over year, while the price per square foot was up 7.5 percent year over year. There were 91 single-family REO sales during February 2020. This represents the second consecutive month with a year over year decrease. The last nine months of 2019 saw large year over year increases in REO sales. Average Days on Market Average time on the market for single-family homes increased slightly for the seventh consecutive month. Time on market is up 9 percent, or 12 days, year over year. Condominiums, at 92 days, spend 5 more days on the market than single-family homes. The single-family distress share increased slightly for the third consecutive month after nine consecutive months with decreases. Nonetheless, the single-family distress share decreased 3.3 percentage points on a year over year basis. The average new listing price of single-family homes increased for the fifth consecutive month. At $431,000, the average new listing price of single-family homes was the highest it had been since June 2007. Top 5 Zip Codes in Average Existing Home Price #1: 89135 at $669,100 #2: 89004 at $625,000 #3: 89138 at $589,300 #4: 89052 at $588,500 #5: 89144 at $510,700 Bottom 5 Zip Codes in Average Existing Home Price #1: 89030 at $169,000 #2: 89101 at $176,670 #3: 89106 at $192,330 #4: 89115 at $206,000 #5: 89156 at $218,630 Top 5 Zip Codes in Average Existing Price Year Over Year Growth #1: 89104 at 19% #2: 89110 at 16% #3: 89052 at 14% #4: 89005 at 13% #5: 89131 at 13% Bottom 5 Zip Codes in Average Existing Price Year Over Year Growth #1: 89148 at -9% #2: 89146 at -9% #3: 89145 at -9% #4: 89118 at -7% #5: 89085 at -5% To read the entire report for February 2020, please click on the link: Nevada Housing Market Update – February 2020 For more information on The Lied Institute for Real Estate Studies at UNLV please click the link: Lied Institute for Real Estate Studies Thank you for reading our post, “Nevada Housing Market Update – February 2020.”  For more Las Vegas real estate market news, information on homes for sale, information on commercial real estate for sale, or general real estate information, please visit our website www.lasvegasrealestate.com or come see us on Facebook. Read the full article

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Nevada Housing Market – January 2020

The Nevada Housing Market - January 2020 has just been published by The Lied Institute for Real Estate Studies at The University of Nevada Las Vegas. LasVegasRealEstate.com is pleased to offer the report summary here as well as a link to the entire report.

Nevada Housing Market Update – January 2020 – Summary of Findings

The Las Vegas metropolitan area saw an increase of 4.8 percent. Mesquite saw a 5.5 percent year over year increase. Laughlin, which saw a large increase in December 2019, saw a decrease of 8.6 percent in January 2020. Within the Las Vegas metropolitan area, Boulder City continues to see the most robust growth in existing single-family home prices as prices increased 18.5 percent year over year.  No region within the Las Vegas metropolitan area saw a year over year decrease in existing single-family home prices. The Las Vegas metropolitan area saw a year over year decrease in the distress share of about 2 percentage points. The distress share was 6 percent in the Las Vegas metropolitan area. The average price for new single-family home listings in the Las Vegas metropolitan area during January 2020 was $419,000. This represents an 8.2 percent year over year increase. Henderson saw the largest price increase in new single-family home listings (13.6 percent) of any region within the Las Vegas metropolitan area. Average prices for existing condominiums increased 6.3 percent year over year in the Las Vegas metropolitan area. Boulder City, which saw the most robust growth in single-family home prices, experienced the largest year over year decrease in condominium prices (14.0 percent). New condominium prices have increased more than 30 percent year over year for three consecutive months in the Las Vegas metropolitan area. The average price for a new condominium in January 2020 was $120,000 greater than the average price in January 2019. Nevada Housing Market Update – New Single-Family Homes and Condos New single-family home prices saw a month-to-month increase for the fifth consecutive month. At an average price of $555,000, new single-family home prices were up less than 2 percent year over year for the fifth consecutive month. Price per square foot for new single-family homes increased on a month-to-month basis for the first time since September 2019. Prices were still down 9 percent year over year. New condominium prices have increased more than 30 percent year over year for three consecutive months. The average price for a new condominium in January 2020 was $120,000 greater than the average price in January 2019. Nevada Housing Market Update – January 2020 – Existing Single-Family Homes and Condos Existing single-family home prices have seen very small month-to-month increases for nine consecutive months. Average prices were up 4.8 percent, or $16,000, year over year. Price per square foot for single-family homes has seen almost no change for over a year. Price per square foot was up 2.2 percent year over year Existing condominium price per square foot has seen little change the last four months. Price per square foot was also up 2.2 percent year over year for condominiums. REO Overall price for REO sales and price per square foot for REO sales increased for the third consecutive month. Overall price was up 7.4 percent year over year, while price per square foot was up 5.9 percent year over year. There were 90 single-family REO sales during January 2020. This represents the lowest monthly total since December 2006. Average Days on Market Average days on the market for single-family homes increased slightly for the sixth consecutive month. Time on market was up 14 percent, or 12 days, year over year. This represents 12 consecutive months with a year over year increase. Condominiums, at 90 days, spend 4 more days on the market than single-family homes. The single-family distress share increased slightly for the second consecutive month after nine consecutive months with decreases. Nonetheless, the single-family distress share decreased 3.1 percentage points on a year over year basis. New single-family listings were down more than 10 percent year over year for the third consecutive month. Top 5 Zip Codes in Average Existing Home Price #1: 89135 at $776,600 #2: 89138 at $590,000 #3: 89052 at $549,700 #4: 89144 at $509,000 #5: 891461 at $495,800 Bottom 5 Zip Codes in Average Existing Home Price #1: 89101 at $174,330 #2: 89030 at $177,000 #3: 89106 at $206,670 #4: 89115 at $207,670 #5: 89156 at $210,330 Top 5 Zip Codes in Average Existing Price Year Over Year Growth #1: 89135 at 20% #2: 89104 at 18% #3: 89123 at 14% #4: 89005 at 14% #5: 89142 at 13% Bottom 5 Zip Codes in Average Existing Price Year Over Year Growth #1: 89179 at -7% #2: 89146 at -7% #3: 89012 at -4% #4: 89145 at -4% #5: 89166 at -4% To read the entire report for January 2020, please click on the link: Nevada Housing Market Update - January 2020 For more information on The Lied Institute for Real Estate Studies at UNLV please click the link: Lied Institute for Real Estate Studies Thank you for reading our post, “Nevada Housing Market Update – January 2020.”  For more Las Vegas real estate market news, information on homes for sale, information on commercial real estate for sale, or general real estate information, please visit our website www.lasvegasrealestate.com or come see us on Facebook.   Read the full article

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Nevada Housing Market Update - December 2019

The Nevada Housing Market Update for December 2019 has just been published by The Lied Institute for Real Estate Studies at The University of Nevada Las Vegas.  LasVegasRealEstate.com is pleased to offer the report summary here as well as a link to the entire report.

Nevada Housing Market Update – December 2019 – Summary of Findings

Laughlin saw the most robust growth in single-family home prices of any major region in Nevada as prices increased 7.6 percent year over year. Mesquite saw the next largest increase with a 5.4 percent year over year increase. The Las Vegas metropolitan area saw an increase of about 4.3 percent. Within the Las Vegas metropolitan area, Boulder City saw the most robust growth in existing single-family home prices as prices increased 19.6 percent year over year. Henderson prices saw the next largest increase with a 9.2 percent year over year increase. Summerlin was the only area that saw a year over year decrease in existing home prices (4.5 percent). Time on the market has increased on a year over year basis for eleven consecutive months in the Las Vegas metropolitan area. The average price for new single-family home listings in the Las Vegas metropolitan area increased 4.8 percent on a year over year basis. Within the Las Vegas metropolitan area, Boulder City experienced the highest growth rate in new listing prices as prices increased 20.7 percent year over year. Southern Highlands was the only region where prices were down on a year over year basis (17.4 percent). Average prices for existing condominiums increased 8.1 percent year over year in the Las Vegas metropolitan area. Boulder City, which saw the most robust growth in single-family home prices, experienced the largest year over year decrease in condominium prices (9.7 percent). New condominium prices have increased more than 10 percent year over year for eleven consecutive months in the Las Vegas metropolitan area. Prices have increased more than 25 percent year over year the last 3 months, including a 55 percent increase in December 2019. Nevada Housing Market Update – New Single-Family Homes and Condos New single-family home prices saw a month-to-month increase to $546,000. Year over year price appreciation on new single-family homes continues to slow down and December 2019 prices were down slightly from December 2018 prices. This was the first year over year decrease since February 2016. Price per square foot for new single-family homes decreased on a month-to-month basis for the third consecutive month. Price per square foot was down nearly 10 percent year over year. New condominium prices have increased more than 10 percent year over year for eleven consecutive months. Prices were up over 25 percent year over year the last three months, including a 55 percent year over year increase in December 2019. Nevada Housing Market Update – December 2019 – Existing Single-Family Homes and Condos Existing single-family home prices have seen very small month-to-month increases for eight consecutive months. Average prices were up 4.4 percent, or $15,000, year over year. Price per square foot for single-family homes has seen almost no change for the last year. Price per square foot was up 2.0 percent year over year. Existing single-family home sales decreased on a year over year basis for ten out of the twelve months in 2019. December 2019 saw an 11 percent year over year decrease. Existing condominium prices saw slightly more robust growth than single-family homes as prices increased 8.0 percent year over year and price per square foot increased 4.3 percent year over year. REO The overall price for REO sales and price per square foot for REO sales increased for the second consecutive month. The overall price was up 7.7 percent year over year while the price per square foot was up 4.3 percent year over year. REO sales decreased for the seventh consecutive month. REO sales were down 16.6 percent year over year. This represents the largest year over year decrease since January 2019. Top 5 Zip Codes in Average Existing Home Price #1: 89135 at $708,000 #2: 89138 at $580,800 #3: 89052 at $545,500 #4: 89144 at $534,900 #5: 89161 at $525,000 Bottom 5 Zip Codes in Average Existing Home Price #1: 89101 at $153,330 #2: 89030 at $176,670 #3: 89115 at $205,000 #4: 89106 at $211,330 #5: 89156 at $214,330 Top 5 Zip Codes in Average Existing Price Year Over Year Growth #1: 89104 at 27% #2: 89144 at 19% #3: 89086 at 19% #4: 89118 at 18% #5: 89005 at 17% Bottom 5 Zip Codes in Average Existing Price Year Over Year Growth #1: 89107 at -9% #2: 89139 at -7% #3: 89101 at -6% #4: 89085 at -6% #5: 89179 at -5% To read the entire report for December 2019 please click on the link: Lied Institute Report – November 2019 For more information on The Lied Institute for Real Estate Studies at UNLV please click the link: Lied Institute for Real Estate Studies Thank you for reading our post, “Nevada Housing Market Update – December 2019.”  For more Las Vegas real estate market news, information on homes for sale, information on commercial real estate for sale, or general real estate information, please visit our website www.lasvegasrealestate.com or come see us on Facebook. Read the full article

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Nevada Housing Market Update - June 2019

The Nevada Housing Market Update for June 2019 has just been published by The Lied Institute for Real Estate Studies at The University of Nevada Las Vegas.  LasVegasRealEstate.com is pleased to offer the report summary here as well as a link to the entire report.

Nevada Housing Market Update – June 2019 – Summary of Findings

Las Vegas prices continue to increase about 4 percent year over year. Mesquite prices were nearly unchanged year over year. Laughlin saw the most robust growth of any major region in existing single-family home prices as prices increased 20.1 percent year over year. In the Las Vegas metropolitan area, Henderson saw the most robust price growth in existing single-family home prices as prices increased 9.8 percent year over year. Summerlin saw the next highest price growth as prices grew 8.4 percent year over year. Boulder City was the only area where prices decreased on a year over year basis (5.6 percent). All areas in the Las Vegas metropolitan area continue to experience year over year increases in time on the market. Boulder City homes spend the longest time on the market, on average, at 105 days. Summerlin homes spend the least amount of time on the market at 75 days. Single-Family Homes New single-family home prices in the Las Vegas metropolitan area increased after seeing three consecutive months with a decrease. Prices were still up 20 percent year over year and this was the lowest year over year increase since September 2018. Price per square foot saw for new single-family homes decreased for the fourth consecutive month. At $166 per square foot, prices were up 4 percent year over year. This was the lowest year over year increase since August 2017. Existing single-family home prices continue to see very little month-to-month change. Average existing home prices were up 4.1 percent, or $13,000, year over year. Price per square foot for existing single-family homes have been nearly unchanged since October 2018. At 6.4 percent, the price per square foot continues to see slightly more robust growth than overall price. Existing single-family home sales decreased after seeing three consecutive months with a decrease. Existing single-family home sales have decreased on a year over year basis for ten consecutive months. The single-family distress share saw a year over year decrease in all regions, except the Las Vegas area. Condominiums Average prices for existing condominiums increased about 8 percent year over year in the Las Vegas area. Existing condominium price per square foot has been nearly unchanged at $168 since November 2018 New condos took some time off from their spike as new condominium prices in the Las Vegas metropolitan area decreased after seeing five consecutive months of large increases. The price of new condominiums is still up 69 percent year over year. New condominium sales saw a slight month-to-month decrease for the second consecutive month. There were 15 new condominium sales during June 2019, a 57 percent year over year decrease. For the first time since December 2018, new condominium prices decreased on a month-to-month basis. The average price for a new condominium was $401,000, a 69 percent year over year increase. To read the entire Nevada Housing Market Update for June 2019 please click on the link: Nevada Housing Market Update – June 2019 For more information on The Lied Institute for Real Estate Studies at UNLV please click the link: Lied Institute for Real Estate Studies Thank you for reading our post, “Nevada Housing Market Update.”  For more Las Vegas real estate market news, information on homes for sale, information on commercial real estate for sale, or general real estate information, please visit our website www.lasvegasrealestate.com or come see us on Facebook. Read the full article

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