The Las Vegas Real Estate Market is unique and distinct unto itself in some ways and just like national real estate market in other ways. Like other markets around the United States we are feeling the downturn in sales inquiries and volume do to the loss of the First Time Homebuyer Tax Credit.
But, don’t believe everything you read or hear – we are still one of the hottest entertainment capitals of the world and every day we have hundreds of thousands of people visiting Las Vegas for fun and business. Some facts that make Las Vegas one of the most unique cities in the world:
- First Casino was built in 1931 and we now have over 1,700 licensed Casinos in Las Vegas Proper.
- Clark County’s Population is now just over Two Million people and still growing (Clark County Surrounds Las Vegas.
- We have an estimated 36.7 Annual Visitors to Las Vegas each year – some fall in love with our citie’s amenities and end up staying here. Approximately 25% of these Visitors are from Southern California/Los Angeles Metropolitan area.
- Surprising fact: only about 5% of visitors say they come to gamble but about 85% do gamble while visiting. Old lady luck still has a hot hand.
- Our annual state gaming revenue was $5.5 Billion in 2009, which reflects a decline from years earlier, but still a healthy amount of revenue that drives a lot of “follow on” services revenue (Retail, Hotel, Shopping, Entertainment).
- Number of people moving here each day varies somewhat but around 150-175 people per day.
- Average monthly apartment rent $550. – one of the lowest of any major metropolitan areas in the country.
- Number of golf courses in Las Vegas now exceeds just over 40 – with more on the way.
- Number of hours this town is jumping if you are on the Las Vegas Strip: 24/7/365.
So, if you are thinking of relocating to Las Vegas or purchasing a Las Vegas Home we hope you will call us first – it’s a great place to live and we love what we do. You’ll find our passion to helping our clients mirrors our love for Las Vegas! That’s our Las Vegas Realtor insight for today……….
