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Las Vegas valley home prices grew in all ZIP codes

by ASCAYA on March 15, 2019
Las Vegas valley home prices grew in all ZIP codes

Southern Nevada home prices rose at one of the fastest rates in the country last year amid a growing population and strengthened job market. According to a new report from SalesTraq, the residential research arm of consulting firm Applied Analysis, resale prices climbed in 2018 in every ZIP code in the valley for the second year in a row, and they rose fastest in more centrally located areas — which tend to have older homes and lower prices.

The findings mirror the past few years’ results, showing that as prices push higher, areas with less-expensive offerings are drawing strong demand.

“Residents are simply looking for more affordable” homes, said Brian Gordon, co-owner of Las Vegas-based Applied Analysis

The highest resale prices were on the valley’s outer edges, and growth rates there were typically slower than average, with a glaring exception. In Summerlin, the 89138 ZIP code around Alta and Desert Foothills drives had the top median price, $464,500, and the 11th-fastest growth rate from 2017, 20.6 percent.

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