Nevada Real Estate Market Trends & Analysis
Few markets had more ground to make up from the last recession than the Nevada real estate market. Real estate in Nevada was hit hard and prices tumbled to nearly one-third of their current level. Nonetheless, Nevada real estate persevered and came out on the other end better. After nearly seven consecutive years of appreciation, real estate in Nevada is starting to stabilize.
Prices are still expected to appreciation, but not at the same rate residents have grown to expect in recent history. Instead, home prices are forecasted to increase more in line with historic averages. Despite nearly tripling in price since 2012, however, Nevada has managed to maintain a balanced market that now favors everyone: buyers, sellers, renters and investors.
Prices are still expected to appreciation, but not at the same rate residents have grown to expect in recent history. Instead, home prices are forecasted to increase more in line with historic averages. Despite nearly tripling in price since 2012, however, Nevada has managed to maintain a balanced market that now favors everyone: buyers, sellers, renters and investors.
Nevada Real Estate Fees & Regulations
Real Estate
| Closing Conducted by: | Title Companies, Escrow Companies, Lenders |
| Conveyance: | Grant Deed |
Foreclosure Procedure
| Primary Foreclosure Method: | Non-Judicial |
| Process Period: | 3 - 5 Months |
| Notice of Sale: | Trustee |
| Redemption Period: | None |
Taxes
| Income Tax: | None |
| Corporate Tax: | None |
| Sales Tax: | 6.85% |
| Estate Tax: | No |
| Inheritance Tax: | No |
| Median Property Tax: | 0.84% |
| Property Taxes by County: | http://www.tax-rates.org/nevada/property-tax#Counties |
Average Transactional Costs
| Closing Cost: | $2,265.00 |
| Transfer Fee: | Transfer fee: Up to 700,000 county population 0.13%; over 700,000 county population 0.25%; Tax regardless of size 0.26% |
| Origination Fee: | $1,570.00 |
Overview
- Median Home Value: $292,300
- 1-Year Appreciation Rate: +4.2%
- Median Home Value (1-Year Forecast): +0.2%
- Median Rent Price: $1,562
- Price-To-Rent Ratio: 15.59
- Average Days On Market: 67
- Unemployment Rate: 4.1% (latest estimate by the Bureau Of Labor Statistics)
- Population: 3,034,392 (latest estimate by the U.S. Census Bureau)
- Median Household Income: $55,434 (latest estimate by the U.S. Census Bureau)
- Percentage Of Vacant Homes: 14.11%
- Foreclosure Rate: 1 in every 2,365
Nevada Foreclosure Trends & Statistics
Tax Lien Investing
- Tax Lien or Deed: Tax Lien and Tax Deed state *Most counties have only Tax Deed sales
- Interest Rate: 10%
- Redemption Period: 2-3 years (depending on property type)