Las Vegas Property Appreciation with a possible twist?
Biggest Losers and Winners in the Las Vegas Zip Code Appreciation Game:
November 2014 – November 2015
Las Vegas, NV January 25, 2015
The lucky numbers are in. And the biggest losers and winners of the Las Vegas real estate Zip code appreciation game are...? And they are located so close to each other.
While Zip code 89102, with its 21% gain in property values, is the area West of Downtown Las Vegas near Alta and West Charleston. It is not just home of prominent Las Vegas personalities and high rollers, but home to the new Las Vegas Medical District, new street improvements and conversions to new medical offices.
And the biggest loser Zip code 89106 is abutting it to the north, and includes the old “West Las Vegas” area near Martin Luther King and Washington, which some could argue would be in need of any such improvements.
So here are the real Zip code winners:
+21% ...89102 West of Downtown Las Vegas
+14% ...89120 East of McCarran airport between Sunset and Tropicana
+13% ...89156 Far East side of town along Sunrise Mountain
And here are the less fortunate Zip codes:
-12% 89106 North Central, West and North of Downtown Las Vegas
-10% 89081 North East Las Vegas, West of Nellis Air Force Base, between I-15 and I-215
- 9% 89085 North End of Las Vegas, between Decatur, Aliante Parkway, Grand Teton and Horse Dr.
While North Las Vegas pulled the shortest straw last year, this year's numbers may not hold up the same way for the next years. This year's runner-up to biggest loser, 89081 could very well be next year's winner. If plans fruit to bring in Faraday Future to North Las Vegas as planned, Faraday Future will launch a brand new, state-of-the-art automotive production plant soon. The company is ready to invest $1 billion into the first phase of this facility, to-be-built in Clark County’s Apex Industrial Park in North Las Vegas, a prosperous new development zone offering amenities perfect for environmentally-conscious companies.
Outside of the jobs that Faraday Future will be hiring directly, thousands more will be made available from their supplier base and other independent enterprises that will move into Nevada to better support the new facility.
Potential job creation, economic impact, and community growth that can be made possible with this innovative new production plant. Depending on the realization time frame of this anticipated project, additional housing could be needed and demand for housing in the area could increase, thus catapulting home appreciation rates in nearby Zip codes, such as 89081 to the top.
To get a good perspective on where to buy homes in Las Vegas, you should consult a knowledgeable REALTOR with knowledge of the local market.
The author Andreas R. Adrian (REALTOR) can be contacted at (702) 885-3325 or firstname.lastname@example.org