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News of Clark County: Multi-Gen Market Report

Monday, April 3, 2017

Several years ago, we bought a townhouse right next to my elderly parents so we could help them out, but still provide them with their personal space.  When they started having trouble navigating the stairs, we found a daylight basement home with single level living on the first floor and separate living quarters below.  We never thought we would be part of a major trend, but this lifestyle has become mainstream and is growing.The demand for multigenerational homes continues to grow each year.

In addition to the economic benefits of shared expenses, there are social and familial benefits of deepened relationships and enriched lives. Adult children have the peace of mind of taking care of their aging parents by not putting them into a facility. Grandchildren have the bonus of quality time with their grandparents on a regular basis.

We think it’s no coincidence that our specialty – view homes with “elbow room for the soul” works well for multigen homes, too.  We know how to evaluate homes on larger lots with the potential for additional living quarters. Whether separate living quarters, or shared space, we understand and live the lifestyle, so we know how to find the right multigen home.

It also helps to know what the market looks like when you start shopping for a multigen home.  Here is a snapshot of ViewHomes™ of Clark County with dual-living features, starting at $400,000:

51 Active Listings – $439,900 to $4,500,000
Average SQFT – 4,911

Average $/SQFT – $194

1 Bumpable Buyer at $798,000 for 3,074 SQFT or $260 $/SQFT

20 Pending – $425,000 to $3,290,000
Average SQFT– 4,319
Average $/SQFT – $206

22 Sold in last 3 Mos – $408,000 to $1,850,000
Average SQFT – 4,258
Average $/SQFT – $172

Median Days on Market was 89 days – multigen homes do not last long in this market!

If you are looking for a home for Multi-Gen living, you can start your search here. Or if you have a home that has Multigen features and you want to sell, call us – we are specialists in this field, and we have buyers ready to move!

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