Top 7 Communities for Las Vegas Buyers
Summertime is the peak of the real estate buying season and this is a time when all of the professionals and experts evaluate the health of the market. In Las Vegas, prices have increased quite sharply and this is largely due to the still high number of underwater homes. This is not all bad news, however, as interest rates are low and the supply has increased. Some of the people who lost their homes during the housing market crisis are credit-worthy again and are beginning to become part of the real estate market again.
According to Deanna Garber, a realtor with The Brooks Team at Realty ONE Group, homes under $250,000 are moving much quicker than higher priced homes. If the interest rates continue to stay down and homes are priced fairly, the market will continue to stay strong. Some areas are stronger than the other. Here are the top 7 communities for Las Vegas buyers.
Las Vegas has plenty of communities with affordable homes!
Inspirada (Henderson West)
In this community, homes range from the high $100,000 to $500,000’s. Construction was at a standstill for the years of 2008 through 2011, however, today it is becoming one of the most popular master-planned communities. Townhomes and single family residences are selling quickly and this area has great schools and amenities, which draws more people to the area.
Silverado Ranch
This community offers condos priced around $75,000 up to homes in the $700,000s. New construction is not a focus of this area. It was built in the early 1990’s and is one of the most desired spots in the city, especially for those who work on the Strip or want to be close to it.
Downtown Summerlin Adjacent
Homes in this area range from the high $100,000 to 1 million plus. With Red Rock Country Club, Willows, and Summerlin Centre, people are really flocking to this area to purchase a home. It is not uncommon to see bidding wars in this area and if a new shopping center would come up, it would become even more popular.
Downtown John S. Park Historic District/Huntridge District, Etc.
Homes in this area range from $70,000 to $300,000. This was the location of the original Las Vegas suburbs in the 1950s and 1960s and there are plenty of fixer-uppers found. Mid-modern homes are being purchased by millennials and the area is very culturally diverse and unique, while being close to everything.
Aliante
Homes range from the mid-$100,000s up to $500,000. This neighborhood offers more space for the money and has amenities that many people enjoy, including city parks, hotel-casino, and a golf club. It is the first master-planned community in North Las Vegas.
Rancho Corridor
In Rancho Corridor, homes range from the $100,000s to the $1.5 million plus range. This neighborhood has a diverse architecture, which means that no two houses are the same. The older ones are quite affordable, but may need some updating.
Sky Terrace (Henderson East)
Homes start in the high $600,000s in this neighborhood. It is an ultra-modern, semi-custom subdivision that was hit hard by the recession. Today, earth friendly, modern design is being seen in the new construction and young professionals and families are flocking to the area.
As you can see, there are a wide variety of different neighborhoods and areas for most any price range. Understanding what is offered in each area will ensure that you find the right place for you and your family.