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Which Las Vegas valley zip codes showed highest gains in home prices?

Posted: 5:45 PM, Mar 26, 2018
Updated: 2018-03-27 12:30:06Z
Zip codes with highest gains in home prices
Zip codes with highest gains in home prices
Zip codes with highest gains in home prices

While homes have gained value around the Las Vegas valley in the past few years, there are a few zip codes that saw higher percentages of appreciation.

The top zip code was 89030 with a 31.2 percent gain in median value, followed by 89101 with 30.4 percent. 89030 is located in North Las Vegas while 89101 includes downtown Las Vegas and areas north and east of downtown. 

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The top 10 also includes 89104, 89109, 89103, 89169, 89011, 89032, 89015 and 89108. The fastest-appreciating zip codes in Southern Nevada tend to be located in neighborhoods in the central and more mature portions of the valley.  

With the annual release of SalesTraq ’s 2017 Las Vegas Price Appreciation map, every zip code within the urban Las Vegas valley posted positive price appreciation from the prior year. 

In addition to a tight supply of resale homes on the market, the performance of the real estate market was boosted by an increase in population and employment. 

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The median resale home price across the Las Vegas valley during 2017 was $226,000, which was up a 13.1 percent from the $199,900 reported during 2016. During the final month of 2017, the median reported value was $238,000, which gained 17.8 percent from the $202,000 posted in December of 2016.  

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The new home construction sector also posted positive returns in 2016, with the median price for the year reaching $349,512 - an increase of 7.4 percent -- and $379,990 in the final month of the year -- an increase of 11.7 percent. New home prices reached an all-time high in 2017. 

Different portions of the valley experience varying degrees of supply and demand. Consistent with recent years, zip codes with overall lower housing values have tended to report the higher rates of appreciation in percentage terms.  

Additionally, higher-end communities have tended to post lower rates of appreciation, but they remain closer to prior peak values experienced before the last economic downturn. 

The zip codes with the highest home value include 89138, 89135, 89052, 89044, 89012, 89085, 89131, 89144, 89134 and 89141. These zip codes include areas in Summerlin and Henderson.