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        <title>Las Vegas Real Estate Blog</title>
        <link>http://www.lasvegashomesbyleslie.com/blog/2024-11/</link>
        <description>Up-to-date news and helpful tips about buying and selling real estate in Las Vegas from Leslie Hoke, local realtor and resident expert.</description>
        <item>
            <guid>https://www.lasvegashomesbyleslie.com/blog/back-on-the-market-but-not-for-long.html</guid>
            <link>https://www.lasvegashomesbyleslie.com/blog/back-on-the-market-but-not-for-long.html</link>
                        <author>lesliehoke@lasvegashomesbyleslie.com (Las Vegas Homes By Leslie)</author>
                        <title>Back on the Market - But Not For Long Desirable 3-Bed Home in Silverado Ranch</title>
            <description> <![CDATA[ 



JUST REDUCED Rare 3-Bedroom Home in Brighton Village


Silverado Ranch: 3-Bedroom, 3 Bath Detached Home


10187 Sunshine Village, Las Vegas, Nevada 89183


Sale Price: $369,900 | MLS 2622660





VIEW FULL LISTING HERE



A rare find, the only 3-bedroom home for sale in the Silverado Ranch community of Brighton Village is back on the market, and reduced. The home is immaculate and ready to move in. Situated in the heart of Silverado Ranch, youre walking distance to many amenities. This is a lot of home, in a desirable location for an incredible price.


Quick Facts




Cost: $369,900


3 Bedroom, includes 1 master with walk-in closet amp; ensuite


2 Full Bathrooms, 1 Half Bath


2 Stories, 1,429 square feet


Lot size just under 1/4 acre


New bamboo flooring and plantation shutters


Tile Roof


Attached Garage


Community Pool





Lets take a closer look...


With virtually maintenance-free landscaping, the welcoming front entry features shade tree and drought-resistant plants.






Living Area


The inside features all new Bamboo flooring and plantation shutters throughout. A new water heater is a nice perk, along with a newer AC unit and a full house water filtration system.









Kitchen


The Kitchen offers all appliances with an abundance of storage and pantry space, with a nice size dining area perfect for a dining table. Sliding doors lead outside to the backyard.









Primary Bedroom


The primary ensuite bedroom upstairs features a large walk in closet, full bathroom with dual sinks and combo tub shower.












2nd amp; 3rd Bedrooms


The two secondary bedrooms just down the hallway share a jack and jill bathroom.






Upstairs Laundry


Laundry closet is upstairs as well for easy washing.






The Backyard


The Garage is attached with convenient access into home. The private, fenced Backyard has some landscaping and a bit of turf, ready for your outdoor enjoyment when you arent using the community pool.









Why Live in Brighton Village, Silverado Ranch?


Bright Village has a prime location with easy access to major highways like I-15 and 215 Beltway. This means shops, entertainment and the Las Vegas Strip are just minutes away.


Known for a family-friendly environment, there is no shortage of great schools, parks and recreational facilities. As well as St. Rose Dominican Hospital, there are multiple urgent care centers, dental clinics and other specialty medical offices nearby.


Silverado Ranch is an established community in a peaceful setting. Theres a home here for most price ranges and lifestyle, and real estate holds its value.


VIEW FULL LISTING HERE



Search for Your Ideal Home in Las Vegas


View homes for sale in Las Vegas


Las Vegas townhomes for sale


Las Vegas condos for sale


Summerlin Homes for sale


Summerlin Townhomes


 

 ]]> </description>
            <pubDate>Fri, 22 Nov 2024 14:10:00 -0800</pubDate>
        </item>
        <item>
            <guid>https://www.lasvegashomesbyleslie.com/blog/las-vegas-housing-market-trends-fall-2024.html</guid>
            <link>https://www.lasvegashomesbyleslie.com/blog/las-vegas-housing-market-trends-fall-2024.html</link>
                        <author>lesliehoke@lasvegashomesbyleslie.com (Las Vegas Homes By Leslie)</author>
                        <title>Las Vegas Housing Market Trends: Fall 2024</title>
            <description> <![CDATA[ 



September-October 2024 Las Vegas Real Estate Market Overview


At the time of year when many housing markets are tucked in for fall and winter hibernation, the Las Vegas real estate market is experiencing record growth and non-stop activity, plus increases in employment and in the visitor volume that keeps the region’s employment hubs humming.


In addition, ongoing infrastructure improvements like high-speed rail and renovations at some of the area’s most iconic properties promise to create even more opportunities in both tourism and housing.


Often, increased inventory availability leads to lower prices, but this Fall, the Las Vegas housing market saw record-high home values during September and October.


Las Vegas Residential Real Estate Stats


For months we’ve been saying that the sweet spot for purchase potential was in condos and townhomes because they offer great locations and better affordability. Now, it looks like the market is catching up to that reality.


Median home price and price changes since last year: In September, the median price of existing single-family homes in Las Vegas was $479,900, up 6.6 percent from the previous year and just shy of the all-time record high set in May 2022. September condos and townhomes clocked in at a record-setting $299,500, up a whopping 10.9 percent year over year and surpassing July’s previous high of $296,000.


October’s numbers were a mixed bag, with single-family homes down slightly to a median price of $475,531, still up 5.9 percent year over year. Condo and townhomes saw another big jump in median sales price to a new high of $315,000, up 14.3 percent year over year.


Monthly sales volume: Single-family home closings at 1791 were down in September, both month over month (-16.2 percent) and year over year (-1.6 percent). However, they bounced back in October at 1918 units, which is up significantly both month over month at 7.1 percent and year over year at 12.9 percent.


Las Vegas condos and townhomes experienced a similar trend, with September closing volume at 486 units, down 15.2 percent on the month and 12.1 percent on the year. This was followed by an October recovery with 540 units closed, up 11.1 percent on the month and 13.9 percent over the prior year.


Average days on market: In September, 61.5 percent of single-family homes and 59.5 percent of condos and townhomes sold within 30 days of hitting the market. That’s down both month over month and year over year. In October, the trend continued, with 58.9 percent of single-family homes and 59.4 percent of condos and townhomes selling within 30 days, down from 67.2 percent and 66.2 percent respectively year over year.


Inventory levels: Inventory saw significant improvements year over year in both September and October. September single-family homes were up 36.5 percent from 2023 at three months of effective availability, while condos and townhomes were up an unbelievable 90.3 percent year over year at 3.6 months.


October’s single-family homes inventory held steady at three months, up 21.6 percent on the year. Condos and townhomes were, again, slightly higher at 3.3 months, up 32.1 percent on the year.


Infrastructure Developments and Major Construction Projects


The following image as provided by Las Vegas REALTORS® outlines major projects currently under construction or planned for the South Nevada area.





Impact Analysis of Construction and Infrastructure Improvements


Upcoming improvements in mass transit like the $3 billion Brightline High Speed Rail Line (projected for completion in 2027); road projects including two I-15 improvements and the proposed Henderson Interchange project; planned movie studios, including both Summerlin and Nevada Studios campuses; and the upcoming $10 billion Oak View Group Arena and Hotel-Casino speak to the growth in Las Vegas for residents and tourists alike.


Add to that the $600 million Las Vegas Convention Center renovation, scheduled for completion in 2025 and poised to bring in even more events and visitors to the city. Aside from their importance to residents’ quality of life, these investments also suggest ongoing strength in the job market and continuing demand for homes, supporting home prices.


Upcoming large-scale residential projects include Four Seasons Private Residences at MacDonald Highlands along with the Desert Pines Mixed-Use Development, slated to create 1800 units of attainable housing on the 100-acre Desert Pines golf course site. These projects should increase inventory at both ends of the affordability scale.


Fall 2024 Las Vegas Demographic and Economic Trends


The following image indicates the Key Indicators for healthy economic growth for Las Vegas:





Population Growth and Demographics


According to the Fall 2024 economic report put out by Las Vegas Realtors (LVR), the current Clark County population saw a 1.7 percent increase year over year to 2.4 million. At the same time, the number of visitors was up nearly a million during the year to 41.7 million. That combination pushed the region’s GDP to a new high of $136 billion.


While employment increased slightly during the year, at a 0.4 percent rise it wasn’t enough to keep up with the number of new residents. This, combined with a drop in median household income of 2.2 percent, could indicate increasing affordability challenges in the years ahead, especially if median home prices continue to climb at their current levels.


Where People are Moving From


People are moving to Las Vegas in droves, and this is where many of them are coming from:





The preponderance of new residents to Las Vegas over the previous year came from California at 36.9 percent. The primary drivers of this exodus are almost certainly the Las Vegas market’s relatively affordable cost of living and real estate and the lack of a state income tax in Nevada. Hawaii and New York, which rank just behind California in having the most expensive state income tax burden, are also on the list at numbers 7 and 10 respectively.


Also on the list, there are a significant number of newcomers from other state-tax havens, including Florida, Texas and Washington state at numbers 2, 3, and 4 respectively.


Case Study: Population Growth in Zip Code 89086





In determining trends for new residents moving to Las Vegas, it is, perhaps, instructive to look at the county that has experienced the greatest growth over the past decade and a half.


The area’s 89086 ZIP Code comprises an area in Northeast Las Vegas with a population of 10,735, up 57.2 percent during the years 2010 to 2023. The median household income in the area is $64,609, a hair under the median household income for the region at $66,356.


The median age in 89086 is 31 and the average household size is 2.7. The average home here was built in 2019, is 1748 square feet and costs $405,634. Effective months of inventory sit at 2.3 months and the average days on market for home sales are 51.


As the fastest-growing ZIP Code in the area, with newer homes that are priced just under the region’s median, 89086 provides an interesting snapshot of the types of households that may be flocking to the Las Vegas metropolitan area: young families looking for space and affordability in an area with newer housing stock which may, potentially, allow them to save money on updates, repairs and improvements.


Luxury Case Study: Market Trends for Zip Code 89135


On the high end of the real estate market in Las Vegas we have Zip Code 89135, located on the Western edge of the metropolitan area and boasting the area’s highest average home price at $1,199,211. The average home here was built in 2009 and has 2574 square feet.


The population in 89135 has increased a modest 4.5 percent during the years 2010 to 2023. Median household income for residents of the area is $107,552, the fourth highest in the market area. Median age here is 47.7 and the average home size is 2.2.


Demographics here suggest that this area includes older families and empty nesters as well as retirees. Here too, the relatively recent average date of construction suggests that newer homes are in greater demand, as buyers choose to pay more to have all of the improvements and updates done for them prior to purchase.


The Picture for Las Vegas Real Estate Investors


We’ve seen an ongoing reduction in the number of cash buyers and this trend continued in the most recent numbers, with cash purchases accounting for 24.4 percent of September transactions and 23.3 percent of October transactions.


With higher interest rates and fewer cash buyers, affordability may become a bigger problem than it has been in the past, especially for entry-level home options. Fewer cash buyers also suggests a weakening in the number of investors in the area, creating the potential for higher rental rates down the road should rental inventory levels fail to keep up with demand.


Real estate investors looking for a bargain have been disappointed throughout September and October as the number of “distressed” sales remains near historic lows. According to Las Vegas Realtors, short sales and foreclosures combined added up to only 0.8 percent of all existing local sales in September, down from 1.3 percent a year ago. In October, they totaled 0.9 percent of all existing local property sales, compared to 1.4 percent the year previous.


Predictions for the rest of 2024 and into 2025


Impact of Interest Rate Cuts: Long-anticipated interest rate cuts may have little impact on the housing market during the rest of 2024. In addition, the election of Donald Trump to a second term, with proposed tariffs and other inflation-fueling economic proposals, may mean no more rate cuts are on the horizon for 2025, further exacerbating affordability concerns.


Increase in Inventory: While modest inventory increases have occurred in the Las Vegas market over the past few months, it will take significant levels of new construction to bring inventory in line with current demand. Flat and declining levels of building permits issued for residential housing stock over the past two years suggest that this level of new construction will not appear in the short term.


Lock-In Effect: While demand is anticipated to increase in the months to come, finding the right home may be tougher if interest rates don’t fall much further in 2025. The so-called “lock-in effect” occurs when homeowners who bought during the pandemic era, and who enjoy the historically low rates of that time period, are reluctant to trade in those low rates and make a move to a new home. This has put a damper on move-up buyers and may continue to do so for the foreseeable future.


Silver Tsunami: To top it all off, the much-anticipated “Silver Tsunami,” where retiring seniors were expected, as in past generations, to sell their large family homes and downsize into retirement communities with smaller homes or condos, has failed to materialize. In fact, the tendency for seniors to age in place means that in many markets, older empty-nesters own twice as many large homes as families with children do. With no financial incentive to sell and move, inventory shortages — and attendant high home prices — in this sector are projected to continue.


Smart Buyers Will Come Out Ahead: Those homebuyers who are willing to purchase a fixer-upper may have a better chance of finding the right home in the right neighborhood and making it work. In addition, the greater your flexibility and willingness to adapt your wishlist to market conditions, the better your chances of finding a home you can afford, even as the Las Vegas real estate landscape heats up.


Let us help you navigate the Las Vegas real estate market


Whether you’re a buyer who needs to develop a strategy for the current market, a seller who’s ready to make a change in 2025, or a seller looking to tap into your increasing equity to move up, you’ll need guidance from Las Vegas’ favorite real estate agent. Leslie Hoke has been delighting Las Vegas buyers and sellers since 2004. Dozens of happy clients have benefited from her expert knowledge and attention to detail.


Get in touch today to find out what we can do to make your real estate goals a reality. Feel free to call: (702) 321-1763
 ]]> </description>
            <pubDate>Fri, 15 Nov 2024 08:25:00 -0800</pubDate>
        </item>
        <item>
            <guid>https://www.lasvegashomesbyleslie.com/blog/congratulations-las-vegas-fall-2024-home-buyers.html</guid>
            <link>https://www.lasvegashomesbyleslie.com/blog/congratulations-las-vegas-fall-2024-home-buyers.html</link>
                        <author>lesliehoke@lasvegashomesbyleslie.com (Las Vegas Homes By Leslie)</author>
                        <title>Congratulations Las Vegas Fall 2024 Home Buyers</title>
            <description> <![CDATA[ 



Anxious Fall Home Buyers amp; Sellers in Las Vegas


This Fall has brought a flurry of activity to the Las Vegas real estate market. Buyers are anxious to close their home deals and possibly move in before the holidays. At Las Vegas Homes by Leslie, wed like to congratulate and thank the buyers and sellers of these listings and hope that you enjoy your new homes for many years to come.


Weve seen a variety of listings and price points including a Loft 5 penthouse, incredible townhouse short sale opportunity, a renovated Silverado Ranch home, an elegant Lake Las Vegas residence and a perfect Sun City 55+ home backing onto the palm Valley Golf Course. Here they are in more detail:


SOLD in 11 Days - Incredible Lake Las Vegas Home





Its no doubt that this elegant home in Reverie at Lake Las Vegas sold so quickly. It has so many great features including over $150,000 in updates, a four-bay RV garage with climate control, gourmet kitchen, and huge outdoor living space.


Reverie is a gated neighborhood in Lake Las Vegas, with a picnic area. Homeowners are close to the amazing amenities in this resort-style community, such as Lake Las Vegas Sports Club, golf courses, walking trails, 320-acre freshwater lake, shops, restaurant and a plethora of outdoor activities. View other homes for sale in Reverie, or all Lake Las Vegas listings.



Under Contract in 30 Days - Loft 5 Penthouse, Las Vegas NV





This amazing furnished penthouse in Loft 5 is ideally located just one block from Las Vegas Blvd. Sized at almost 2,000 square feet, the condo also features a huge 700 square foot outdoor terrace with two-way fireplace. Two bedrooms, two balconies, designer kitchen are just a few of the incredible features of this Loft 5 condo. The community offers guard gated security, covered garage parking, several pools, hot tub, doggie park and fitness center. View available condo listings in Loft 5



Under Contract - Heritage at Cadence, Henderson NV





Who says moving into a 55+ community means downsizing? This incredible one-story home in Heritage at Cadence is over 2,000 square feet with spacious master bedroom and additional ensuite guest bedroom for friends and family. Lovely views of the Las Vegas Strip and Mount Charleston are visible from both the expansive living room and covered paver patio. View other 55+ homes currently for sale in Heritage at Cadence



SOLD in Just 27 Days - Sun City Summerlin Beauty





Situated on the 17th hole of Palm Valley Golf Course, this 1,700 square foot home offers lovely views in this sought-after 55+ Summerlin community. Designed for comfort and entertaining, the home features two separate living areas connected by a two-sided gas fireplace. The open kitchen offers multiple dining options and a bright greenhouse window. Sun City Summerlin has so much to offer with a plethora of amenities including 3 golf courses, fitness center pool and an active social calendar.


View all homes for sale in Sun City Summerlin,, or  or search listings in other Las Vegas 55+ Communities



Under Contract Just 29 Days - Silverado Ranch Home





A rare find, this 3-bedroom home in Brighton Village was nabbed up in just 29 days. Measuring almost 1,500 square feet with attached garage and brand new bamboo flooring, this home is just immaculate. View current homes for sale in Silverado Ranch



Under Contract - Townhouse Short Sale





This beautiful townhouse in Aurora Heights was a great opportunity for this new buyer. It features two-stories with 3 bedrooms, 3 baths and an upstairs loft in a exceptional gated community with park. View other townhomes for sale in Las Vegas, or search available short sales.



Are You Thinking of Selling Your Home?


You can see from the above examples, home sellers in Las Vegas could not have better timing than what were seeing now. Id be happy to take a look at your home and give you a professional opinion on its value. You can start by:




Request a free Home Evaluation


View our Marketing Plan


Call Leslie at: 702-321-1763


 ]]> </description>
            <pubDate>Thu, 14 Nov 2024 11:51:00 -0800</pubDate>
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