Home prices in the Las Vegas area are up 7.3 percent from a month ago and nearly 31 percent from last year as supply stays short.
With cash investors snapping up houses, Las Vegas’ real estate market has been heating up with rising prices and multiple bids for listings.The median price of single-family homes sold in March was $161,000, up 31 percent from $123,000 a year ago. In 2006, the price was more than $300,000, according to the Greater Las Vegas Association of Realtors.Southern Nevada home prices increased in March and are now 30 percent higher than one year ago.
Las Vegas is the fifth-best market for buying single-family rentals.
Overall, Las Vegas has an average “cap rate” of 9.86 percent, fifth-highest in the country. That rate is a property’s annual profit divided by the purchase price.
This is not going to last forever, inevitably the market will level out and the opportunity to make a great deal of money will have past. All wise investors know the money is made on the purchase.
Author:Brenkus Team Phone: 702-526-2298 Dated: April 20th 2013 Views: 861 About Brenkus: Rick and Teri Have been top producers for over 30 years in the Las Vegas area and have been ranked i...
About Keller Williams Marketplace - Brenkus Realty Network
Rick and Teri Have been top producers for over 30 years in the Southern Nevada and have been ranked in the top 50 agents in the US by the Wall Street Journal out of over 1.3 million agents. They have sold over 7,000 homes in both stable and challenging markets. Their strategies and incredible systems to represent buyers and sellers can not be matched! Sellers enjoy netting top dollar in the least amount of time with their massive marketing and ability to stay ahead of the curve! This Top Producing Team has consistently been in the top 1% of agents Nationally for the last 30 years. They are national speakers and are highly sought after by many who want to get to the next level in their business. They also serve on Professional Standards at the Greater Las Vegas Association of Realtors and are Senior Faculty Instructors. Their list of credentials are endless!
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