HOME SWEET HOME: Top 5 hottest zip codes for buying & selling in Las Vegas
LAS VEGAS (KSNV) —
If you're in the market for a new home, you've noticed that the housing market is on fire.
Multiple offers are the norm -- some buyers pony up cash to beat out the competition -- and buyers are fighting over homes in certain areas more than others.
Spring is traditionally the hottest time to put your house on the market.
But what's happening now has inventory low and offers coming in higher than normal.
We've identified the top five hottest zip codes in the valley, but as you'll soon see, sellers are cashing in elsewhere.
Joe Limon is on the hunt for a house.
"The price of my house went up so that's why I'm selling it to get something else," says Limon.
But he's got competition and lots of it.
Lawra "Kassee" Bulen with Vice Realty Group LLC says buyers are battling for the property.
"If you're a seller and you want to list it, will be gone in a month," says Bulen.
Or less, especially if a home is listed in one of the hottest zip codes.
At No. 5, according to Bulen's research, is 89141.
It's bordered by the I-15 on the east, Rainbow on the west and Silverado Ranch to the north.
Bulen says there's lots of undeveloped land poised for growth, but it's going to cost you. The average price: a little more than $600,000.
Homes in zip code 89148 are half the cost in the southwest valley.
The 4th hottest zip code is home to IKEA and soon a 10-acre entertainment complex called The Bend.
The 3rd hottest zip code: 89108. It's centrally located and close to downtown, the Las Vega Strip and Lone Mountain.
The average price here is $213,000.
The second hottest zip code, 89052, is in the Henderson West area.
Joe says he still favors Southern Highlands, which is number five on our list.
"I've been a fan of this part of town for a while with it being so close to California, 10 minutes from the Strip", says Limon.
The No. 1 hottest zip code in the valley, 89031, isn't even in Las Vegas.
"North Las Vegas is really booming right now. It's only 50 percent developed for the whole city, so there's a lot of room for development", says Bulen.
A new Amazon fulfillment center is coming, creating more jobs in the area, which Bulen says should attract more restaurants and shopping.
But if you're home isn't in the top five, no problem -- sellers are still finding success.
David Lee with Las Vegas Valley Realty says he's got multiple listings in the Centennial Hills area receiving numerous offers.
Seller Mike Toropovsky points to features in his home like an open concept, a modern kitchen indoors and outside, along with a guest house as buyer bait.
Bulen and Lee say out-of-towners are flooding the Las Vegas home market.
A lot of these buyers are looking for a cheaper cost of living than California, for instance.
Locals like Joe are looking for areas with more amenities and hoping to invest in areas likely to boom with the Golden Knights and, soon, the Raiders calling Las Vegas home.