Las Vegas, Nevada, has been a hub of the real estate industry for many years now. And local realtors don't see that changing any time soon.

Realtor Lonnie Garvin says, "Las Vegas is a hot market, with the median price on a single family detached home at approximately $321,000; Las Vegas has a wide range of homes to offer. Anything from a small condo to a large luxurious custom mansion can be found in the Las Vegas Valley area."

He adds, "Residents of Las Vegas can experience many wonderful activities, both outdoor and indoor. Outdoor activities include championship golf courses, our nearby natural wonders, such as Red Rock Canyon for hiking and picnics, Mt. Charleston for winter skiing and summer camping, Lake Mead for fishing, swimming and boating and much more. Our indoor activities include such wonderful events as the numerous shows available on the strip, shopping, church activities, gaming activities, gourmet restaurants and buffets, theatres and more. People from all age brackets can enjoy the life styles of Las Vegas!"

Realtor Ronni Land notes, "The market continues to be strong, bringing a better balance between buyer and seller. Sellers are experiencing a more "normal" market time than 30 seconds and buyers have an opportunity to actually view several homes before making that all important decision. Opportunities abound for buyers in every type of home from condominiums to luxury homes. High rise condos and apartment hotels are all the rage, but you've got to have big bucks to put up while construction is taking place. With the shortage of buildable available land, Las Vegas is finally becoming "vertical." Substantial deposits are required and If you are serious about buying, financial documentation is essential as Builders and Sellers want to make sure the transaction will close successfully."

"Las Vegas is the fastest growing city in the world," says Realtor Hung Henry Nguyen. "The housing market is very stable, supporting by the top job growth in the nation. The unemployment rate is low. An average of about 7,000 people move in every month. The median house is about $309,000, up from $307,000 in the previous month. With that median home price, there is still plenty of room to grow, compared to other Metropolitan cities. Buying real estate in the winter is equal to 40k equity in your investment in Las Vegas."

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Published: November 8, 2005

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