The Las Vegas Rental Market Report for Henderson Rentals
shows an increase in rental rates from the 1st quarter to the 2nd
quarter of 2014. The average rental rate per square foot increased 5.4% while
the median rate per square foot increased 4.0%. The speed at which the rental
houses closed (DOM – Days on Market) also increased 24% on the average, and 35%
on the median. The Shay Hasselmann Group is always ready to help you with your
rental needs at www.lasvegashouserenters.com
.
An Overview of Las Vegas Rentals in Henderson Rental Homes
is shown here:
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Number of Rentals:
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1st qtr. – 1323
|
2nd qtr. – 1411
|
|
|
|
|
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Average List Price:
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1st qtr. – $1,340
|
2nd qtr. – $1,391
|
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Average Rented Price:
|
1st qtr. – $1,337
|
2nd qtr. – $1,413
|
|
Average Sq Ft:
|
1st qtr. – 1,797 sq ft
|
2nd qtr. – 1,808 sq ft
|
|
Average Rent Sq Ft:
|
1st qtr. – $ .74
|
2nd qtr. – $ .78
|
|
Avg. Days on Market (DOM):
|
1st qtr. – 46 days
|
2nd qtr. – 35 days
|
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|
|
|
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Median List Price:
|
1st qtr. – $1,250
|
2nd qtr. – $1,275
|
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Median Rented Price:
|
1st qtr. – $1,225
|
2nd qtr. – $1,275
|
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Median Sq Ft:
|
1st qtr. – 1,630 sq ft
|
2nd qtr. – 1,628 sq ft
|
|
Median Rent Sq Ft:
|
1st qtr. – $ .75
|
2nd qtr. – $ .78
|
|
Med. Days on Market (DOM):
|
1st qtr. – 34 days
|
2nd qtr. – 22 days
|
What is the difference between Average and Median and why
does this matter to the Las Vegas Rental market?
Average is the sum of the individual items divided by the
number of items. Median is the middle number.
For example, we have 7 houses with monthly rents at $1000,
$1000, $1500, $2000, $2000, $3000, $15,000.
When we add the rents together ($25,500) and divide by 7, we
get an Average rent of $3,642.86. The Median rent is the middle number of
$2,000.
As you can see, the reason it is important to know the
Average and the Median rent price is that a very low number or a very high
number in the group can offset the final number. In our example, we had a very
high number which made an 82% difference of $1642.86. So it is always good to
compare both numbers to get a real sense of what is going on in the market.
The Shay Hasselmann Group is a team
of real estate professionals who have collectively garnered top awards in
production and sales in the Keller Williams organization in the Southwest
Region. According to title companies’
data in Las Vegas, they are in the top 1.5% of production for Las Vegas Real
Estate agents. They are driven by a need to serve the Las Vegas, Summerlin, and
Henderson Real Estate community with excellence and professionalism, whether
selling, buying, or renting homes. Information and searches may be found at www.shaylasvegashomes.com
and www.lasvegashouserenters.com .
Shay Hasselmann Group
Las Vegas Real Estate Specialists
Las Vegas Rentals
Summerlin Real Estate Specialists
Summerlin Rentals
Henderson Real Estate Specialists
Henderson Rentals
702-706-7429
Keller Williams Realty Las Vegas
3090 S. Durango Dr. Suite 100, Las
Vegas, NV 89117
Best Las Vegas Realtors
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