Las Vegas - A real estate market roundup
Las Vegas has a number of reputable professional real estate companies that help people find rental property as well as affordable homes. There is an unlimited choice of housing ranging from reasonably prices homes middle-income groups to multimillion-dollar homes. 34% of the total population lives in rental accommodations, of which 85% prefer apartment complexes.
In 2004 the average price of the house was $321,768 compared to that of$331,634 in 2005, which means an increase of $9,865 in two months. If this upward trend continues then this year could see 18% price rise. The number of re-sale house has gone up from 1,500 units in February to 16, 00 units in September 2004. Due to heavy appreciation many homeowners were tempted to sell their houses. This led many builders to reduce their prices.
Builders and developers from different parts of Unites States have started developing high-rise condominium towers for the residents as well as the visitors and most sold out quickly. Real estate are a great investment opportunity for people around the world so international buyers are flocking to Las Vegas. Las Vegas has seen the largest appreciation gains in the housing market. The houses sold at 47.3% more than the year before.
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