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News of Clark County: Multi-Gen Market Report

Friday, June 30, 2017

The demand for multigenerational homes continues to grow each month as families are changing the way they live. Baby boomers are taking in their parents to provide better care. Millenials are enjoying the benefit of having their children grow up with grand parents in their home. Last year the Pew Research Center reported that a record 60.6 million Americans now live in multi-gen households.

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 (Note: these numbers do not include a spectacular $23,500,000 165-acre multi-gen property as it skews the averages.)

77 Active Listings – $449,900 to $4,670,000
Average SQFT – 4,674

Average $/SQFT – $216

5 Bumpable Buyers $675,000 to $1,380,000
Average SQFT – 4,143
Average $/SQFT – $197

43 Pending – $415,000 to $1,850,000
Average SQFT– 3,907
Average $/SQFT – $189

34 Sold in last 3 Mos – $400,000 to $2,850,000
Average SQFT – 3,830
Average $/SQFT – $178

Median Days on Market was 43 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!

Filed under: News