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Here is a list of facts about the Las Vegas Valley Home Market.

  • Resale home values have increased 9.6% over the last year.
  • The median resale single family home price is $241,000 mixed with condos and townhomes it lowers to $226,000. 
  • New home values have increased to $340,072 or 3.7% over last year.
  • 832 new home sales closed in June which is a 22.4% increase over last year. 
  • Builders pulled 1,035 new home permits in June.  This is the largest amount since 2008.

The Las Vegas Market Has Low Inventory Due To Many Factors.

  • The homeowners are staying in their homes for 9 to 10 years versus in the past they moved every 6 to 7 years.
  • There are 1 million new homes on the market across the USA.  In the past there were 2 million new homes available for buyers.
  • The pent up buyer demand continues as the interest rates remain low.  Homes sell quickly if priced right.
  • More people are moving to Las Vegas.  The job market is good. Homes are affordable.
Market Stats
Median Sales Price
Homes For Sale on the Market
Average Days on The Market
Average Price Per Square Foot
Average Single Family Sales Price

This is the highest percentage since 2007 before the housing crisis. Those surveyed pointed out five major reasons why they believe homeownership is a good financial decision:

1. Homeownership means the money you spend on housing builds your equity instead of your landlord.

2. Homeownership creates the opportunity to own your home by the time you retire. 
3. Homeownership builds long term investment wealth and increases net worth. 
4. Homeownership stabilizes your monthly home payment. 
5. Homeownership allows for various deductions on federal, state, and local income taxes. 

Majority of Americans revealed that they strongly agree that homeownership helps create safe, secure, and stable environments.

Yes, Raiders will save money with the Nevada tax structure.  But, WOW, Mark Davis has to pay $378 million over 10 years says ESPN. However, compared to $645,000,000 for the relocations of the Rams and the Chargers, Davis has a good deal.  And the Rams and the Chargers will pay the Raiders a portion of the relocation fee.

Just to review:

$750,000,000 Clark County public money

$650,000,000 Bank Of America loan

Stadium Completion: 2020

Undetermined 2019 Schedule California lease expires in 2019

Information gathered form Michael Gehlken articles. Gehlken can be reached at mgehlken@reviewjournal.com. Follow @GehlkenNFL on Twitter.  More Raiders: Follow all of our Oakland Raiders-to-Las Vegas coverage online at reviewjournal.com/Raiders and @NFLinVegas on Twitter.

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