Monday, April 29, 2019 / by Michael Picciuto
The median home value in Las Vegas is $273,500 on Zillow. Las Vegas home values have gone up 11.7% over the past year and the Las Vegas real estate market prediction is that they will rise 8.1% within the next year. The Las Vegas real estate forecast shows that there are so signs of slowing down the market in 2019. The median list price per square foot in Las Vegas is $168, which is lower than the Las Vegas-Henderson-Paradise Metro average of $168. The median price of homes currently listed in Las Vegas is $299,884 while the median price of homes that sold is $282,000. The median rent price in Las Vegas is $1,460, which is lower than the Las Vegas-Henderson-Paradise Metro median of $1,480.
Las Vegas Real Market Forecast
Graph Credits: Zillow.com
Las Vegas was named as the number one real estate market in USA for 2018 by Realtor.com based on the price and amount of existing homes, new home construction and local and economic trends. In the past year, Las Vegas housing market was rising fast even though there was low availability of homes and a very high demand. Although home prices are rising at one of the fastest rates in the country, Las Vegas home builders are selling the most houses in incredible numbers.
LittleBigHomes.com publishes forecasts for the trend in home prices in 380 Metropolitan Statistical Areas. The forecast for the Las Vegas housing market for the 12 months ending with the 3rd Quarter of 2019 is up (positive). The Accuracy of the Trend Projection for Las Vegas is 79%. Accordingly, they estimate that the probability for rising house prices in Las Vegas is 79% during this period. If this Housing Market Forecast is correct, home prices will be higher in the 3rd Quarter of 2019 than they were in the 3rd Quarter of 2018.
If you have any questions, call me. When you are ready to invest, buy, or sell, visit my website or call me direct, Ken Couture, 702-476-0060.