What’s Inventory Like with Resale Homes in Henderson Nevada?
Is Henderson running out of homes? What’s the situation like, since you hear in the news that inventory is low, rates are at an all-time high and with inflation going up lately. In this video I will be covering what inventory is like, what does it mean to you, and will also talk about not only resale, but also new home construction.
Currently in Las Vegas and Henderson we have a large array of resale and new homes catering to different preferences, from condos to luxury custom estates. With a 2.5-month supply of inventory, we are in a “Sellers’ Market”. This means if no additional homes came up for sale, we would run out of listings in 2.5 months. Normally a Sellers’ market is considered 6 months of inventory or less. However, our market is subject to rapid shifts driven by factors like interest rates.
For instance, in July 2023, rising interest rates led to a slight market slowdown with inventory increasing to around 4-month supply by December. However, in January 2024 the anticipation of rate decreases in 2024 spurred buyer demand. Though rates have yet to decrease, recent fluctuations underscore the volatility of our market. To navigate these changes, it’s crucial to work with a real estate agent well-versed in the Las Vegas market dynamics and trends. Personally, I study the market and trends to stay informed so I can adapt my strategies and provide the best possible recommendations and service to my clients.
Prices have increased with the median price climbing from $465,000 to $496,128 through May and the average price rising from $590,554 to almost $600,000. However, we are seeing homes stay on the market slightly longer with an average of 38 days on the market, which highlights the need to be reactive and make adjustments to price or marketing quickly in this competitive environment.
Resale homes offer many benefits for buyers such as the location in established neighborhoods with mature landscaping and large trees, shrubs, and gardens. This can enhance the curb appeal of the property and provide a more pleasing outdoor environment for homeowners to enjoy. Buyers may prefer the charm and character of an older established community.
Unlike new construction, resale homes are typically available for immediate occupancy. This can be a big advantage for buyers who need to move quickly or prefer not to wait for a home to be built.
There often is more room for price negotiation on resale home compared to new construction, especially if the seller is motivated to sell quickly. Buyers may be able to purchase a resale home at a lower price or negotiate additional concessions, such as closing costs or repairs.
Resale homes offer the advantage of already having features and upgrades in place, sparing buyers the need for additional investments typically associated with new home construction. Resale homes have finished rear yard landscaping, as well as included blinds and shutters and sellers frequently include appliances, such as refrigerators and washer/dryer units, alleviating buyers of the burden and cost of purchasing new ones.
Particularly in warmer climates like Las Vegas, many resale properties come with the added luxury of an existing swimming pool, which can be a substantial expense and involve time to pulling permits and construction. All of these items can save the buyer thousands of dollars in needed upgrades down the road.
Henderson, Nevada, offers a variety of established neighborhoods with resale homes that cater to different preferences and lifestyles. Here are some popular RESALE neighborhoods in Henderson:
Green Valley: Green Valley is one of Henderson’s most desirable communities, known for its tree-lined streets, parks, and excellent schools. It features a mix of single-family homes, townhomes, and condos, with many resale properties offering spacious floor plans and well-maintained landscaping.
Anthem: Anthem is a master-planned community in Henderson known for its scenic beauty and resort-style amenities. Resale homes in Anthem range from cozy starter homes to luxury estates, often featuring mountain or city views and access to community parks, trails, and golf courses.
Seven Hills: Seven Hills is a prestigious community with an Italian-inspired architecture, offering panoramic views of the Las Vegas Strip and surrounding desert landscape. Resale homes in Seven Hills include custom-built estates, gated luxury neighborhoods, and family-friendly subdivisions.
Sun City Anthem: Sun City Anthem is an active adult community for residents aged 55 and older, offering a resort-like lifestyle with amenities such as golf courses, fitness centers, and social clubs. Resale homes in Sun City Anthem range from low-maintenance condos to single-family homes with scenic views and access to exclusive amenities.
Green Valley Ranch: Green Valley Ranch is a vibrant community with a mix of residential, retail, and recreational amenities. Resale homes in Green Valley Ranch often feature modern designs, spacious layouts, and proximity to parks, shopping centers, and entertainment options.
MacDonald Ranch: MacDonald Ranch is an upscale community located in the foothills of the McCullough Mountains, offering luxury homes with panoramic views of the Las Vegas Valley. Resale properties in MacDonald Ranch include custom-built estates, gated enclaves, and golf course residences.
Now let’s talk about new homes! We are seeing high demand from buyers for new homes over resale currently. This is because new home builders have “preferred” lenders that offer lower interest rates than buyers can find otherwise. These rates can be 2% lower than offered from traditional lenders for resale homes. Here are some current examples:
Several builders such as Lennar and KB preferred lenders are offering 4.750% Fixed Rate on FHA loans with a 3.5% down payment! Where most traditional lenders are currently offering 6.5% to 6.9% on FHA financing. This can make a big difference for the buyer when considering monthly payment.
Builders often offer incentives and promotions to attract buyers, such as builder credits, upgrades, or financing incentives. These incentives can add value to the home purchase and help buyers save money in the long run.
Another significant advantage of buying a new home is the opportunity for customization. Buyers can often select their preferred floor plan, design features, and finishes, allowing them to personalize the home to their tastes and lifestyle.
New homes typically come equipped with modern amenities and energy-efficient features that meet current building codes and standards. This can include advanced HVAC systems and smart home technology, providing added comfort and cost savings for homeowners.
Most new homes come with warranties from the builder, covering structural defects and major systems for a certain period. This warranty protection can provide peace of mind for you, knowing that you are protected against unexpected expenses related to construction issues.
Now on to a few examples of the new home communities:
Cadence: Cadence is a master-planned community in Henderson that continues to see new home developments. It offers a variety of housing options, including single-family homes, townhomes, and condominiums. The community emphasizes outdoor amenities, parks, and recreational spaces. One of the builders in Cadence is Pulte Homes who is a national home builder known for its quality construction and customizable floor plans. Heritage at Cadence is one of their developments in Henderson, offering single-family homes in a 55+ active adult community.
Inspirada is another master-planned community located in Henderson. It offers a mix of residential options, including single-family homes and townhomes. Inspirada emphasizes sustainability, community engagement, and recreational amenities. Prominent builders in Inspirada offering new homes include Toll Brothers, KB Home, Tri Pointe.
Another community that offers new homes is Lake Las Vegas. Although Lake Las Vegas is primarily known for its luxury homes and resort-style living, there are ongoing developments within the community. New home developments in Lake Las Vegas often cater to upscale buyers seeking waterfront properties or golf course views. Lennar Homes is known for its “Everything’s Included” approach, which offers buyers a high level of standard features in their new homes. Varenna at Lake Las Vegas is one Woodside Homes new developments, offering single-family homes with lake and golf course views.
Blue Heron offers custom home designs tailored to the unique preferences and lifestyle of each homeowner. Their homes often feature open floor plans, sleek lines, and seamless indoor-outdoor living spaces that capitalize on the stunning views and natural beauty of Lake Las Vegas surroundings. In addition to custom homes, Blue Heron also develops semi-custom and move-in-ready homes in Lake Las Vegas, providing options for buyers at various stages of the homebuying process. Del Webb Lake Las Vegas is a contemporary active adult community elevating residential resort-style living with gated privacy and an expansive recreation center, overlooking a desert lake oasis.
The real estate landscape is continually evolving, and new developments emerge often so it is important to work with a real estate agent that stays up on the current conditions. I study the market inside and out and I am here to be your resource when buying and the latest information on new home or resale developments!
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