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How much does it cost to buy a house in Las Vegas?

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How much does it cost to buy a house in Las Vegas?

L as Vegas real estate is going strong according to some reports.  This is partly due to the heavy influx of foreign and domestic investors in the region.  

As a city, Las Vegas posted a $223,400 on median home value. It is 10.2% higher than last year and is expected to climb by 5.7% next year. Per square foot is priced at $144 on the average.  The median home value is $274, 995. Let’s take a look at the selling prices of the houses of some neighborhoods in Las Vegas: 

The Lakes 

The median home value in The Lakes is $291,500.  Its home value has grown to 6.5% over the past year. The average cost of per square foot in The Lakes is $291,500 which is higher than other neighborhood in Las Vegas ($144 per square foot). If you are going to rent, prepare at least $1,625 which is the median rent price. 

Buffalo Home  

Buffalo is a neighborhood for the rich people, you can find the best Las Vegas luxury homes in the area. The median household income is $57.3 K per month. The median home value in this neighborhood is $275,000 which is 8.1% higher than last year. Per square foot is valued at $160. The current listings show that the median home price as $549,900. 

Desert Shores  

Desert Shores is a community developed by RA Homes in 1988 at the foothills of northwest Las Vegas. The community has a wide range of property collection, from condos to median-priced houses. The most coveted houses are those in the lakefront. Desert Shores has features for the entire family such as a man-made swimming pool with sand beach, picnic park with volleyball and basketball, playground for kids, and dock area. The clubhouse serves as a venue for private gatherings and community events.  The median home value in Desert Shores is $269,000.  

Spring Valley  

Most part of Chinatown is in Spring Valley, which makes this neighborhood extremely popular to tourists. There are lots of Asian restaurants and stores. The rest of Spring Valley is like the rest of Las Vegas. It is also near The Strip- only 15 minutes away. The location is great for both the families and working classes.  The median home value in this neighborhood is $231,800 which is 9.2% higher than last year. Real estate market analysts predict that this will rise 5.9% next year.