Las Vegas Real Estate: The February Digest
Las Vegas had a great year in real estate in 2018, with a steady rise in price in the first half of the year and a slight increase in inventory in the second half. Named as one of the hottest real estate markets in the country, Las Vegas is only just beginning to grow.
While homebuyers have to keep the market in mind when shopping for a home in Las Vegas, the city is a great place to find plenty of new development. Here’s the latest Las Vegas real estate digest.
Southwest Continues to Have The Most Homes For Sale
Since our last report, Southwest continues to dominate in terms of the most homes for sale. The median sale price in this Las Vegas neighborhood is in the high $200s, which has held fairly steady over recent months.
As one of the largest neighborhoods in the Valley, it only makes sense that Southwest would be popular with new and established homeowners alike. Known as a hideaway from The Strip, Southwest is made up of master-planned developments, tranquil residential communities, and parks. It also has a prime location close to major freeways, allowing residents to get around town easily.
Summerlin Has the Highest Price Point
Unsurprisingly, Summerlin has also remained in the top spot as the Las Vegas neighborhood with the highest median home price, which hovers around the high $300s.
While some homebuyers can find condos and townhomes as low as the mid $100s, it’s far more likely that any home in Summerlin’s newly-developed villages will be at or above the neighborhood’s median home price. Summerlin continues to be a hot neighborhood among homebuyers, even ranking nationally as a top-selling master-planned community.
Meanwhile, areas outside of Las Vegas such as Henderson feature pricey neighborhoods and developments, like MacDonald Highlands and Seven Hills, where some homes are listed at well over $1 million. Homebuyers looking to move away from the city and into the suburbs will encounter more space and privacy, but it will come with a higher price tag.
Where Our Users Are Searching
Located east of Paradise and The Strip, Spring Valley has a median sale price in the mid $200s. The neighborhood is also near Chinatown, which is home to plenty of great restaurants, hotels, casinos, and malls for locals and tourists alike. Homes in this neighborhood range from less than 1,000 to nearly 8,000 square feet. Although there are plenty of newly constructed homes, historical styles may also be available throughout some parts of the neighborhood.
Meanwhile, Silverado Ranch is located south of Paradise near Green Valley South and Seven Hills. Because of its prime location, the area is ambiguously referred to as part of Henderson, although many homes have Las Vegas addresses. Silverado Ranch also enjoys convenient access to the I-215, and offers residents plenty of restaurants, grocery stores, and shopping options. The neighborhood’s median sale price in the high $200s.
North Las Vegas has had plenty of new developments happening over the last few months. This part of the Vegas Valley is a prime place to find an affordable neighborhood with homes priced from the mid $200s to high $300s. With an influx of new communities hitting the market this year, North Las Vegas is a great choice for first-time homebuyers looking for a great deal just north of the Las Vegas Valley.
Also on the north end of the Valley is Sedona Ranch, a recent addition to Las Vegas’ vast collection of master-planned communities. New developments, like Hawthorne by Beazer Homes, Catalina by Pulte Homes, and Oak Creek by Century Communities, all offer home prices starting in the high $200s.
Neighborhoods With Lots of New Construction
Without a doubt, Las Vegas continues to boom with new construction. In January, Richmond American Homes unveiled five communities on the same day, including Bellamont and Breccia Bay in North Las Vegas, both communities featuring ranch-style homes priced in the low to mid $300s.
The master-planned development Valley Vista is also seeing lots of new developments. Builder D.R. Horton is currently pre-selling three communities within the development—Capella Pointe, Gemini Pointe, and Altair Pointe. Each community offers homebuyers distinct one- or two-story floorplans featuring moderns designs and prices starting in the mid $200s.
Homebuyers will also find plenty of new construction homes at Blackstone. This new community by Pardee Homes is part of the master-planned development of The Villages at Tule Springs. Homes in Blackstone feature one- and two-story floorplans as well as modern and energy-efficient designs. These stylish homes offer spacious layouts, three to six bedrooms, and prices starting in the low $400s.