Update on the Vistas Summerlin Real Estate Market | Homes for Sale in the Vistas Summerlin

Summerlin real estate specialist from The Ballen Group gives an update on The Vistas Summerlin real estate market.

Las Vegas, NV, February 07, 2015 --(PR.com)-- The Vistas Village, located on the west side of the 215 Beltway, is one of the highest villages in Summerlin. At about 3000 ft. it is also significantly cooler than other parts of the Las Vegas Valley. During the summer, the temperature there is about 10 degrees F. lower than the temperature on The Las Vegas Strip. You’ll find The Vistas in the Las Vegas zip code 89138.

The number of active listings in The Vistas, Summerlin zip code region of 89138 dropped by 0.6% between the beginning of January and the beginning of February. The median number of days active properties have been listed is 73. This is significantly shorter than the United States’ national average. The number of sales in November dropped by 90% from the previous month.

The percent of rental properties in Las Vegas 89138 is 29.32% that is 10.12% above the United States’ national average which is typical for urban areas. The percentage of owner-occupied homes is 58.91% in this zip code region.

The median listing price for homes for sale in The Vistas, Summerlin is $468,670. These homes tend to be listed for sale for about 73 days. There are currently 87 homes for sale in The Vistas, Summerlin zip code region.

2.3% of the homes for sale in The Vistas, Summerlin are distressed listings. A distressed listing indicates a Las Vegas short sale or a foreclosure. The Las Vegas real estate market suffered greatly during the recession, and many had to foreclose on their homes. Short sales also became popular during this time, as many people tried to work with their lenders to get out of their home debt. Due to the fact that Summerlin is a more stable area, it was not effected by the recession as drastically as the rest of the Las Vegas Valley. Now, with the real estate market recovering, the percentage of distressed properties in this area is very low.

The Vistas is a community in Summerlin that encompasses over 815 acres of both single family and multifamily communities. It is actually the first village developed in the western region of Summerlin. The Vistas is home to The Vistas Community Park, which features 24.3 acres of lighted football and baseball fields, as well as tennis and basketball courts that are lighted.

There are also group picnic and children’s play areas. Additionally, The Vistas has two 7 acre parks called North Tower Park and South Tower Park where residents will enjoy children’s play areas and open fields. Each park features a 48-foot clock tower, which are landmarks of Summerlin.

In The Vistas, you will find Linda Givens elementary school, a public school, as well as Vista Commons. Vista Commons is a 13 acre 100,000+ square foot shopping center.

The Vistas was developed in 2000 and is one of the villages with the highest resale movement in Summerlin. All homes in The Vistas are resale, but some of the later developments have greater architectural variety of European influenced homes, as well as varied colors.

Median household income in 89138 is $100,822 with 55 households earning between $35,000 to $40,000 annually. The income bracket representing the largest amount of the population in The Vistas, Summerlin zip code region earns between $75,000 and $100,000 a year. Over 500 homes are represented in this income bracket. The second largest income brackets earn between $50,000 and $75,000 a year and $100,000 and $125,000 a year. Each of these income brackets represents 450 homes in The Vistas, Summerlin zip code region.

The Ballen Group at Keller Williams Realty Las Vegas was started and owned by Richard and Lori Ballen. The Ballens became Las Vegas real estate agents in 2007 and quickly became the top producing Las Vegas real estate agents on their team. After a few years with Coldwell Banker, the Ballens moved to Keller Williams Realty Las Vegas and began building their own real estate team.

The Ballens still own The Ballen Group as well as a content marketing company, and an online referral network known as the All Star Agent Network. Richard and Lori now travel the United States and teach others how to build a team, market their company, and the secrets of success.

The Ballen Group - Keller Williams Realty Las Vegas
Lori Ballen
3100 S Durango Drive #106
Las Vegas, NV 89117
The Ballen Group
Lori Ballen
3100 S Durango Drive #106
Las Vegas, NV 89117