Home Values

89118 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$142,300

  • 12.3% 1-year change
  • 6.0% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this zip code relative to other zip codes in the same metropolitan area. A particular zip code may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Cool

Buyers' Market
Sellers' Market

The median home value in 89118 is $142,300. 89118 home values have gone up 12.3% over the past year and Zillow predicts they will rise 6.0% within the next year. The median list price per square foot in 89118 is $109, which is lower than the Las Vegas average of $112. The median price of homes currently listed in 89118 is $146,500 while the median price of homes that sold is $129,200. The median rent price in 89118 is $1,000, which is lower than the Las Vegas median of $1,190.

Foreclosures will be a factor impacting home values in the next several years. In 89118 3.7 homes are foreclosed (per 10,000). This is lower than the Las Vegas value of 6.8 and also lower than the national value of 3.9

With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 89118 homeowners underwater on their mortgage is 29.2%, which is higher than Las Vegas at 26.5%.

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Relative ZHVI
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89118 Market Overview

Data through Feb 28, 2015
  • $142,300 ZHVI
  • 6.0% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Feb 29, 2016)
  • $146,500 Median listing price
  • $129,200 Median sale price
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89118 Market Health

Data through Feb 28, 2015
  • 4.4/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 29.2% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • No data Delinquent on mortgage (6.3% US Avg)

Homes foreclosed (per 10,000)

3.7 homes 89118
6.8 homes Las Vegas
3.9 homes United States
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Nearby Zip Codes

Name Median ZHVI
89139 $200,700
89109 $200,500
89113 $184,900
Name Median ZHVI
89147 $177,100
89146 $148,900
89102 $141,200
Name Median ZHVI
89103 $103,800
89119 $100,600
 

Listings & Sales

Data through Feb 28, 2015
  • $109 Median list price / sq ft
  • $99 Median sale price / sq ft
  • 12.5% Listings with price cut
25.3%
Sold below listing
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89118 Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $1,044 89118
    $1,182 Las Vegas
    $1,355 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.1 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,000 Rent list price
  • $0.80 Rent list price / sq ft
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