If you live out of state you may not be aware of the Real Estate market in the Southern Nevada; the activity in the market is incredibly strong and there may be a possibility of creating a Tax Free Exchange.
- Southern Nevada residential Real Estate has increased 9% since the first of the year.
- Depending on how long you have owned your property here, your property may have increased in value up to 86%.
Average Single Family Sales Price
May, 2012 $161,003
May, 2013 $214,490
May, 2014 $236,850
May, 2015 $245,985
May, 2016 $275,209
May, 2017 $299,046
If you purchased your property in May, of 2012 your property could have potentially increased in value 86%. If you purchased in 2015, values went up 21%.
Properties are selling over list and buyers are bringing in cash above appraised values. Do get an accurate picture of your property valuation, contact me by phone or email and I will forward you the details. Investors are still buying because the market is strong and they are seeing a continued increase in pricing.
If your Real Estate investments have increased in value, you may be in a position to sell and do a tax free exchange and purchase multiple properties with the cash from a sale. This is a great way to leverage your current investment.
If you would like to discuss your situation in detail please reach out to me. For more information on the market you can go to my blog or Facebook page.