Fastest Growing Homes Prices In Nevada Isn’t Where You Think
Home prices are constantly talked about in the media, at work and in your day-to-day personal life.
As Las Vegans, we often hear about the “glory days” of the city where real estate prices were almost like “highway robbery” deals. From 2010 up until the last few years, home prices were majorly low in comparison to the expensive and highly taxed properties in California.
However, most of us know that the “glory deals” of cheap home prices and low rent are over. But now, Las Vegas isn’t the only area that has seen a steep increase in home prices and property values.
According to an analysis by Stacker, cities like Boulder City, Jean, Bunkerville and Overton have seen major increases in terms of home prices. In fact, they’re the top four cities with the largest increases in home prices. Now remember, we’re looking at the percentage change when analyzing this, not necessarily the markup prices of the homes. The percentage shows the real change in terms of skyrocketing prices.
In the last five years, Boulder City homes have increased by about $122,000, making this a nearly 40% increase.
Homes in Jean have increased by $59,000, which is nearly a 34% increase in the last five years.
In Bunkerville, there has been an $104,000 increase in home prices, equating to a 42% increase. In Overton, home prices have increased by $101,444, which makes a rough 52% increase. And this is all in the last five years.
However, these cities aren’t even the highest increases when it comes to property prices. In fact, the city with the largest increase in home prices is a city that most wouldn’t think about. It’s not Las Vegas, it’s not Reno and it’s not even Mesquite!
The city with the largest increase in home prices is Laughlin!
Laughlin is like a miniature Las Vegas with the beautiful Colorado River gushing throughout the city. Smattered with a few casinos, recreational activities and gold courses, it’s no wonder why people are re-located to Laughlin!
According to Stacker, home prices have increased by $95,000, which is a nearly 60% increase! Who would have thought that Laughlin would have the most expensive changes in terms of home prices.
Either way, we’re all feeling the affects of more expensive rent, mortgages and home prices. The market does seem to be cooling down and balancing out, according to a report by 8 News Now. So, this may actually be a great time to purchase a home.