Not only is Las Vegas a fun international destination because of its vibrant nightlife, but it's also an exciting place to start a business or raise a family. Here's your guide to buying a home in Summerlin, a community with about 60,000 residents.
Cost of Living in Summerlin
Summerlin residents pay roughly 7.7 percent more on living expenses than the average American. Nonetheless, healthcare is more affordable by the same amount. Transportation costs are about 24 percent higher, while utility costs are in line with the national average.
Real Estate in Summerlin
While the average studio apartment in America costs $821 to rent, in Summerlin, the cost is $980 in 2018. The median price for a home in Summerlin is $420k vs. the national average of $231k in 2018.
Job Market in Summerlin
Summerlin is part of the Las Vegas metro, an international destination for tourists. While Summerlin's unemployment rate has recently surpassed the national average, the community's residents earn more income. Almost half of the employees in Summerlin work in these industries:
- Hospitality and food services
- Technical services
- Healthcare and social assistance
Things to Do in Summerlin
You won't be far from the action in Las Vegas, the entertainment capital of the world. Here are popular places to go in or near Summerlin:
- Red Rock Canyon National Conservation Area: Hiking and biking
- Golf courses: Highland Falls, TPC Summerlin, and Palm Valley
- Fox Hills Park: Theme park covering 18 acres
- Multiple public parks and nightlife centers
Located in a desert, Summerlin is naturally warm most of the year with minimal rain. Usually, February is the wettest month of the year. The coldest months are December and January, getting down to the mid-40 degrees. July is the warmest month, usually reaching up to 90 degrees.
Traffic in Summerlin
The drive from Summerlin to downtown Las Vegas is about 18 minutes throughout the day. However, during periods of low traffic, it might only take 14 minutes. Daily commutes average to about 23 minutes.
The area's largest employer is the Clark County School, with over 330,000 students. For every teacher, there are 22 students on average. It's actually one of the biggest and fastest-developing school districts in the nation.
Move to Summerlin Today!
If you are planning to move to Summerlin, make sure you work with real estate experts who know the area. Contact Valerie Brown at (702) 826-1545 for more information on how we can help you make a smooth transition to your new home in Summerlin.
LOOKING TO SELL?
For sellers, what a great time to sell! Inventory is low and motivated buyers are looking for houses for sale. Sellers don't have competition with as many property owners. Some would be sellers have decided to wait out the pandemic, but more and more buyers enter the market. This only further pushes the pricing point higher due to tight supply. Check your home's value here! or CONTACT ME HERE FOR MORE INFORMATION!
LOOKING TO BUY?
For buyers, the inventory is slowly increasing and mortgage rates are at historic all-time lows, record-breaking never seen before lows. Buyers are out in force taking full advantage of their higher than usual purchasing power. It is a win-win scenario for both sellers and buyers. CONTACT ME HERE to get started!