30% Home Value Increase Projected for Las Vegas within 12 Months
The Las Vegas Condo Market is selling at twice the rate of 2013. Year over year prices are still going up and more sales are happening.
Currently a total of 1,968 Las Vegas Condos are listed on the market. Of these units 694 have excepted offers and will be sold. The available inventory ready to be sold is 1,274. Out of the available inventory 6% (78) are bank owned and 14% (177) are Short Sales. Going over my numbers in the time it took be to write these current market statistics one condo has already been sold leaving 1,273 available property's in Las Vegas.
On the Single Family Home side of the market currently 13,129 homes are listed for sale. Of these 7,629 (58%) have excepted offers. Out of the available inventory still available for sale 805 are Short Sales (12%) and only 317 (5%) are bank owned.
According to a report from a local Las Vegas news station Las Vegas Condos and Single Family Homes are expected to see the largest increase in values over the next 12 months. They have projected a massive 30% increase in home values! Suspicions of this have fueled new home builders in the value and they have already started to ramp up production. After contacting our local source who is a sub contractor for large new builders in town such as KB Homes and others they confirmed they have had the larges amount of work orders sent in which has not been seen since pre recession days. They also do not see it slowing down any time soon.
If you have not been keeping your investment eye on Las Vegas Condos for sale or Las Vegas Homes for sale now may be the time to take a glance. California buyers who know the value of what investment dollars can purchase in the Las Vegas Valley are picking up rental property's and second homes. Not to mention the wave of new residence who have always loved the town for years but have finally taken the plunge to become full time residence taking advantage of the 0% state income tax Nevada provides.