The results are finally in for 2012! Below is a map of real estate appreciation throughout the Las Vegas Valley of homes sold and closed by individual zip codes.
Keep in mind that this map represents appreciation for both single family homes as well as condos. Single family homes for sale in Las Vegas appreciated quite a bit more last year than condos did. Separated out, single family housing actually appreciated almost 20% overall in Vegas during the past year. (Condo associations are still struggling with the burden of unpaid association dues from homeowners that are in foreclosure. Since the homeowner associations have to rely heavily on these dues to maintain the master development, buyers are still a bit shy about purchasing condos in the event there are major HOA fee increases to cover these costs. Though it is important to note that to date we have NOT seen any substantial HOA fee increases.)
Housing prices are up all over the country. But nationwide economists see few signs of another housing bubble because credit standards remain conservative. Even in markets like Las Vegas that have seen large gains, prices are still in line with their long-run relationship with rents and incomes.
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!"