If you need assistance, please call 702-476-0060

Four Cities Primed For Growth in The Next Decade

Thursday, February 27, 2020   /   by Ken Couture

Four Cities Primed For Growth in The Next Decade

Spokane, Wash., Las Vegas, Charlotte, N.C., and Orlando, Fla., are the metropolitan areas most primed for growth over the next decade.

The four metros are attracting out-of-town homebuyers in part because of the low cost of acquiring and developing land for new home construction in those places.

In Las Vegas, home sales are growing at 15.6 percent, with 47 percent of homebuyer interest coming from outside the metro, Redfin found. The primary source of out-of-town homebuyers is Los Angeles, where the median home price is $650,000 and land comprises about 61 percent of home values.

Homebuyers in Las Vegas can purchase an existing home for $285,000 or a new home for $388,000. With land comprising only 25 percent of home values in Las Vegas, Redfin said new construction is a profitable investment for developers.

“Las Vegas is a pretty competitive market, and I see both new homes and existing homes receiving multiple offers,” Redfin agent Carol Vandenberg said. “I see plenty of buyers from Los Angeles. They are used to the sunshine and the two cities are so connected.”

Couture Realty
Ken Couture
8367 W Flamingo Rd Suite 101
Las Vegas, NV 89147
702-476-0060

UP5DB701E1507748.jpgThe data relating to real estate for sale on this web site comes in part from the INTERNET DATA EXCHANGE Program of the Greater Las Vegas Association of REALTORS® MLS. Real estate listings held by brokerage firms other than this site owner are marked with the IDX logo. The information being provided is for the consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. GLVAR MLS deems information reliable but not guaranteed. Copyright 2021 of the Greater Las Vegas Association of REALTORS® MLS. All rights reserved.
This site powered by CINC: www.cincpro.com