Las Vegas Real Estate Market Investing Forecast 2022

Las Vegas Real Estate Market Investing Forecast 2022

Over the last few decades, some of the largest real estate investors in the world have invested billions of dollars in Las Vegas.

They've helped to build some of the most famous pieces of real property in the country. These major investments get all the attention but a greater number of investors are now looking to Las Vegas to capitalize upon its growing population.

Nevada’s Best Places to Buy Property in 2022

Southern Nevada housing market

The November median sale price for local condos and townhomes was $240,000. This also broke the record for the month, which was $199,700 in November 2020. It is also up 20.2%. Housing Inventory continues to decline. For months, we have seen the number homes on sale decline.

We currently have 1917 homes available for sale in the Greater Las Vegas area, with no accepted offers. Mesquite, Boulder City and the like are not included. When I did the monthly update, we had 2203 single family homes. It was 2644 the month before.

Las Vegas Luxury Homes sell quickly and at high prices. We currently have 316 single-family houses for sale at $1M+. There are 72 options for luxury homes, including condos and townhomes. The total number of luxury homes available for sale has dropped to 388 from 425 last month.

In January, we sold 109 single-family houses priced at $1M+. 8 transactions were added for condos and townhomes. The January total of luxury homes sold was 117. This is a decrease of 122 in December, but an increase of 85 in January 2021.

The top three most expensive deals for the month were all in the same neighborhood, which is the first time I have reported on them since I started reporting. The Luxury Home Market in Las Vegas is strong. There are currently 439 single-family homes for sale for $1M+ and 76 condos or townhomes for sale for more than $1M. Buyers searching for luxury homes now have 515 options. This is down from 548 in September.

In October, we sold 98 luxury homes via the MLS. Ten more homes were sold for $1M+ in condos and townhomes. October saw 108 luxury homes being sold. This is down from September's 126 luxury homes. This month we sold more single-family luxury homes than usual, but we also had more luxury condos and townhomes for sale. October 2020 saw the sale of 89 luxury homes.

Since the collapse of the housing bubble, the Las Vegas area has been a hot spot for foreclosures. This was especially true in Las Vegas. The prices dropped by 60% from their peak in 2006, home construction stopped completely, foreclosure starts were nearly twice the national average, and most homeowners found themselves underwater.

The market was dominated by investors in the late 2008/2009 period. They have accounted for roughly half of the market. An estimate of $25 billion spent by investors to acquire single-family homes in Las Vegas between 2009 and 2012.

The study area was dominated by investors, which accounted for slightly more than half the single-family transactions and two-thirds of condominium sales. They also purchased properties at a lower price than the median in each submarket.

Individual buyers might be more focused on one submarket than others, but investor activity was consistent across all the submarkets in the study area.

Half of investors registered out-of-state addresses. This is due to widespread use of local representatives and agents, especially by overseas buyers.

This is a significant underrepresentation of the extent to which Las Vegas attracts investors from outside the state and other countries, most notably from East Asia, especially China.

Investors are primarily individuals or small-scale corporations, especially LLCs. However, investors can buy one or two properties, but not more than that.

A strong investor support network includes lawyers, realtors, property managers, lawyers and home warranty companies. This helps outside investors function in Las Vegas.

Real estate buyers should look for similar pricing discounts during peak rental periods, as property prices are directly related to rental income multiples.

Due to the pandemic, rents have fallen in major cities like New York City, San Francisco and Seattle. Rents will rebound once herd immunity is achieved, however, I expect them to. They may not, as more people move to lower-cost areas of the country.

Before you buy property, be sure to check the most recent monthly rental figures. In 2020, rents have declined while home prices have risen. The home's value is now much higher. For valuations to return back to normal, rents must be revalued aggressively by 10% in 2021 in most major cities.

Sin City is for many a place to have fun and escape. Las Vegas is home to over 600,000. Who wouldn't love to live in one the most popular vacation spots? Las Vegas residents have access to world-class shopping, restaurants, spas and casinos.

Las Vegas is full of excitement, but it also offers many career options. A median income of $53,575 is earned by nearly 300,000 Las Vegas residents. This income can be very useful in Las Vegas' housing market, where the average home is $277,000.

Although Las Vegas might not appear to be a family-friendly place, it is. There are 336 schools in the city, with a combined budget of $5.2 million annually. The fifth-largest school in the country is Clark County School District, Las Vegas.

Your kids won't likely be walking to school, so be aware. Las Vegas is ranked as the 32nd most walkable large urban area in America with a 41-point walking score.

Although it is not particularly bike-friendly, there are some public transportation options. It makes up for what it lacks in walkingability with its affordability. Only 3% more expensive than the national average is Las Vegas' cost of living.

Sandstone Equity Group allows users to find promising properties that match their investment standards, which is particularly useful for buyers from out of state. This means they no longer need to fly multiple times in order to search for rental properties. They simply need to call Sandstone Equity to dominate the Las Vegas real estate market.

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