Advanced Real Estate Solutions in Las Vegas, Nevada

According to Zillow, a trusted leader in housing statistics, the median home value in Las Vegas is $274,100. Las Vegas home values have gone up 6.0% over the past year and Zillow predicts they will rise 0.9% within the next year. The median list price per square foot in Las Vegas is $169, which is lower than the Las Vegas-Henderson-Paradise Metro average of $170. The median price of homes currently listed in Las Vegas is $304,999 while the median price of homes that sold is $266,700. The median rent price in Las Vegas is $1,500, which is lower than the Las Vegas-Henderson-Paradise Metro median of $1,536.


Foreclosures will be a factor impacting home values in the next several years. In Las Vegas 1.4 homes are foreclosed (per 10,000). This is the same as the Las Vegas-Henderson-Paradise Metro value of 1.4 and also greater than the national value of 1.2.


Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Las Vegas is 1.2%, which is higher than the national value of 1.1%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Las Vegas homeowners underwater on their mortgage is 7.2%, which is higher than Las Vegas-Henderson-Paradise Metro at 7.1%.


To stay current on how the Las Vegas Real Estate Market is doing, check out this amazing page Zillow updates frequently:


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Written by: Advanced Management Group and Zillow (Data)


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