Get free access to our world class MLS search tools, save your favorite listings, create saved searches & much more!

Heatwaves Are Not Always Bad Things! Las Vegas Sales on The Rise

Posted by Mastura Zaini-Roberts on Saturday, September 3rd, 2016 at 8:41am.

las vegas real estate on the riseWhile you’re sweltering in the heat, keep in mind that whether you’re buying or selling a home in Las Vegas, a swimming pool is more than a way to cool down  – it’s also a big factor in home values.  2016 is set to be a record-breaking year when it comes to weather.  According to the National Oceanic and Atmospheric Administration, January through June of this year was the hottest 12 year stretch in the last 136 years!  No wonder more than 38% of Americans include a swimming pool when describing their “dream” home.  Nationally, a recent survey taking into account a home’s size, age, location, etc., found that being able to include a swimming pool in a listing could increase a home’s price anywhere from 8% to as much as 19%!  So, whether it’s a pool to cool down in on a sweltering day or a warm and relaxing hot tub to enjoy on a cool evening, both buyers and sellers would be wise to factor in the value of a pool or hot tub. 

The summer heat wave sure hasn’t kept buyers away in the Las Vegas market.  In fact, buyer confidence continues to improve, keeping the demand strong.   Most recently, for the week ending August 26th, the Average Listing Price was $294,097, up $10,824 from the previous week -- an increase of 3.8%), and from May 15th to August 15th, and the Median Sales Price was $199,000, up $11,500 for a year-over-year increase of 6.1%.

Current statistics show:

  • 9,097 homes for sale
  • 43 open homes
  • 17,049 homes recently sold
  • 7,214 foreclosures

As of August 26th, the most popular neighborhoods continue to be Las Vegas, Summerlin, Sunrise Manor, Spring Valley, Winchester and Summerlin South (with Summerlin South boasting an average list price of $1,196,778, a week-over-week increase of 22.3%).

Keep in mind that sales records reflect that Las Vegas home prices have appreciated 53.1% over the last 5 years, so brave the heat and take advantage of our booming real estate market!         

Start Your Las Vegas Home Search Now!

 

Mastura Roberts
(702) 919-5400
offers@greatlasvegashomes.com

Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052

With over 30 years of experience helping families call Las Vegas "home!"



Related Blog Posts

Food Fest Coming to Las Vegas!

by Lisa Albarian  If you’re a Foodie or if you simply enjoy food, Las Vegas has a lot to offer! If you haven’t experienced the whole Food Truck thing, be sure to check this out: Coming up November 2 – 4 at The Silverton (just south of The Strip) is the Las Vegas Foodie Fest. If you watched the current season of...

Nevada Infrastructure: Keeping Up with a Growing State

According to the U.S. Census Bureau, Nevada’s 1.95 percent population growth rate from July 2015 to July 2016 made it the second fastest-growing state in the country. With the state’s official population nearing the three million mark, how is infrastructure keeping up with growth? Major Road P...

National Real Estate Sites Hurt Consumers!

As the old saying goes, the early bird gets the worm. But if you are a consumer using one of the national real estate sites like Zillow, Trulia, Homes.com, Redfin or Realtor.com to find a home, not only are you missing out on a gourmet breakfast, you are actually paying through the nose to go hungry! As agents, we ge...

Here's What a Mediocre Credit Score Might Cost You on Your Mortgage

A lackluster credit score could bring up your interest rate and set the stage for years of higher payments. But if you work on improving your score, you'll end up paying less for your home loan. Many of us don't pay attention to our credit scores until the time comes to borrow money. But what you may not kno...

Rent to Own Homes In Vegas: Good Deal or Scam?

We get calls all the time from people who want to “rent to own” a home, and we usually tell them there is really no such thing. You could possibly do a lease purchase. That is where you actually sign a long term purchase contract then lease the home from the seller prior to closing. But these days there are very fe...

Leave a Comment

Have a Question?

Contact Us

Follow Us