Las Vegas Real Estate: What’s Hot Right Now?
Las Vegas, Nevada, is a popular tourist destination that is also known for its booming real estate market. With its glitzy casinos, upscale hotels, and world-class entertainment, Las Vegas is a great place to live, work, and play. In this article, we will discuss the current state of the Las Vegas real estate market and what is hot right now.
Year Average Home Price Median Home Price % Change from Previous Year
2016 $236,800 $218,000 6.8%
2017 $257,700 $235,000 8.8%
2018 $283,700 $259,900 10.1%
2019 $306,800 $280,000 8.1%
2020 $332,500 $305,000 8.4%
Overview of the Las Vegas Real Estate Market
The Las Vegas real estate market has been on an upward trend in recent years, with home values increasing by more than 10% in 2021 alone. According to Zillow, the median home value in Las Vegas is $366,000, which is higher than the national average of $299,000. Additionally, the demand for homes in Las Vegas continues to be high, as people flock to the city for its sunny weather, low cost of living, and diverse job market.
Hot Neighborhoods in Las Vegas
There are several neighborhoods in Las Vegas that are currently hot on the real estate market. These neighborhoods offer a mix of affordability, great location, and amenities that make them highly desirable to buyers.
Summerlin is one of the most popular neighborhoods in Las Vegas. It is located on the western edge of the city and offers a wide variety of housing options, including single-family homes, townhomes, and condos. Summerlin is known for its beautiful parks, hiking trails, and top-rated schools, making it a great choice for families.
Henderson is another hot neighborhood in Las Vegas. It is located just south of the city and offers a more suburban feel than other parts of Las Vegas. Henderson has a variety of housing options, including single-family homes, townhomes, and condos. It also has a great selection of parks, golf courses, and shopping centers, making it a great choice for families and retirees.
Southwest Las Vegas
The Southwest area of Las Vegas is also hot on the real estate market. It is located just south of the Las Vegas Strip and offers a mix of urban and suburban living. This area has a variety of housing options, including single-family homes, townhomes, and condos. It is also home to many great schools, parks, and shopping centers.
Hot Real Estate Trends in Las Vegas
In addition to hot neighborhoods, there are also several real estate trends that are currently hot in Las Vegas. These trends reflect the changing needs and preferences of homebuyers in the city.
Smart homes are becoming increasingly popular in Las Vegas. These homes are equipped with smart technology that allows homeowners to control their home’s lighting, temperature, and security from their smartphone or tablet. Smart homes are not only convenient but also energy-efficient, making them a popular choice among eco-conscious buyers.
Speaking of eco-conscious buyers, eco-friendly homes are also hot in Las Vegas right now. These homes are built with sustainable materials and energy-efficient features, such as solar panels and smart thermostats. Eco-friendly homes not only help reduce your carbon footprint but can also save you money on your energy bills.
Las Vegas is known for its luxury homes, and this trend is only getting hotter. Luxury homes in Las Vegas offer stunning views, high-end finishes, and top-of-the-line amenities, such as infinity pools and home theatres. With the city’s growing economy and strong demand for luxury homes, this trend is expected to continue in the coming years.
The Las Vegas real estate market is hot right now, with rising home values, strong demand, and a variety of hot neighbourhoods and trends.