Las Vegas home values rise 7 percent, but future not so bright

The house on 4675 Balfour Drive in Las Vegas seen on Monday, Feb. 13, 2012.

Las Vegas home values rose faster than the national rate this past year, but the growth forecasted locally is smaller than the country at large.

The Las Vegas Valley's median home value climbed by 7 percent year-over-year to $121,500 in the third quarter and is expected to rise by 0.1 percent in the coming year, according to a report today from Seattle-based research firm Zillow.

Home values increased nationally by 3.2 percent this past year and are expected to rise by 1.7 percent over the next year.

In the valley, the largest percentage increase this past year came in North Las Vegas, where home values rose by 8.3 percent to $102,200.

Home values jumped in Henderson by 6.9 percent to $160,700, while climbing 6.3 percent to $115,900 in the city of Las Vegas.

Tourism

Share

Previous Discussion:

Discussion 4 comments

Only trusted comments are displayed on this page. Untrusted comments have expired from this story.

  1. Q: Who used to live in the house pictured above?

    A: Mobster Tony Spilotro

  2. I'm seeing the numbers for rising home value in this article, but not the part about a dismal future.....???

  3. That's it? This reads like a lead-in to an article. Where's the rest of it?

  4. Its still a great market for those of us in a position to buy.