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Expect to pay more for single-story homes in Las Vegas valley due to demand

Posted: 11:26 PM, Mar 21, 2018
Updated: 2018-03-22 18:06:30Z

The demand for single-story homes in Las Vegas is higher than ever. Housing experts say there's not enough of them available for the amount of people that want them.

The Larsen family was sure they wanted a single-story home when they moved into theirs a year and a half ago.

They were expecting a baby and had an old dog. They wanted to avoid stairs but also wanted the overall convenience of a single story, open floor plan.

Plus, they knew their power bill would be cheaper if they only had to cool down one floor in this desert heat.

"You would think a lot of retirees want single story and they do but it's really over all the demographics," said StoryBook Homes owner Wayne Laska.

Laska says the Larsen family is not alone. He says the majority of their consumers want single-story homes. They really started to pay attention to the demand two-and-a-half years ago.

Last year, StoryBook Homes made half their homes single story. This year, 80% will be single story.

The high demand means you're going to pay a bit more for a single-story home.

PRICES ARE GOING UP AROUND THE LAS VEGAS VALLEY

The data shows you will pay about $40 more per square foot in a single-story home versus a two-story home.

That's about 22% more if you're looking at a 2,000-square-feet home.

"You also have to keep in mind, there's more land that's required for a single story," said Laska.

StoryBook Homes is building a new development of exclusively single story homes near Durango and Windmill.