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News of Clark County: MultiGen Market Report

Tuesday, April 18, 2017

The demand for multigenerational homes continues to grow each year to the point where it has become a mainstream lifestyle. In addition to the economics of shared expenses, there are social and familial benefits of deepened relationships and enriched lives. Adult children have the peace of mind of improved care for their aging parents. 

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

57 Active Listings – $439,900 to $4,500,000
Average SQFT – 4,664

Average $/SQFT – $196

2 Bumpable Buyers $594,500 to $798,000
Average SQFT – 3,407
Average $/SQFT – $204

19 Pending – $425,000 to $3,290,000
Average SQFT– 4,397
Average $/SQFT – $201

29 Sold in last 3 Mos – $408,000 to $1,850,000
Average SQFT – 4,041
Average $/SQFT – $170

Median Days on Market was 95 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