Nevada Real Estate Summary

The Nevada real estate market is fairly hot.  The population is still growing by leaps and bounds to the mass of jobs that were created, making Nevada relocations one of the top destinations.  The economy is strong and unemployment remains fairly low.  With the exception of Las Vegas and Reno, housing is relatively affordable and taxes are low.

Las Vegas real estate is hot.  The average sale price of a home is $450,000.  Houses are on the market for 60 to 90 days and sell for 90-95% of their original asking price.  The average price, even though it is high, is down between 5 and 10% from last year´s prices.   There are more sellers than buyers in the market, and the houses are evenly scattered in all of the price levels.

Reno real estate is hot too.  Houses are on the market between 60 and 90 days and get an average sale price of $325,000.  The market has more sellers than buyers, giving the buyers an advantage in price.  Homes are selling for 90 to 95% of the original price.