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

Posted by Julie Wright 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!"



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