Las Vegas might be a bucket list trip, but the City of Lights is also a popular place to settle for many Americans. In fact, Vegas has a population of 1,392,278, rendering it the most populous city in the state of Nevada. Although primarily regarded as a resort town because of the popular Strip, which encompasses just four miles of the total 131.3 square miles, Las Vegas has more to offer than themed hotels and nightclubs. Outside of the Strip, Las Vegas also has an old downtown area, which is steadily becoming more popular once again through music festivals, outdoor art exhibits and entertainment events.
The bustling nightlife and entertainment in Las Vegas needs no promotion, but real estate opportunities in Las Vegas are lesser known. In 2015, the average list price on homes for sale in Las Vegas was just $284,720 - a great opportunity for first-time buyers or individuals searching on more modest budgets. The average age of Las Vegas homebuyers is just 27 years old, so it seems as though many millennials are jumping on the opportunity to purchase property in Las Vegas while list prices are low compared to other cities in the nation. Keep in mind, Las Vegas list prices are on the rise. The average list price in 2014 was $251,166, and prices are increasing 13.36 percent year-over-year. If planning to invest in Las Vegas real estate, now is an opportune time to begin the home search.