ViewHomes™ of Clark County: MultiGen Market Report

Monday, April 10, 2017

For several years, we have lived next to my elderly parents, and now share a residence with them.  We have the luxury of enough space for privacy and separate living areas, but the convenience of being able to help them with meals, daily chores, and medical appointments. 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 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. 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 (Note: these numbers do not include the spectacular $23,500,000 165-acre multi-gen property featured above as it skews the averages.)

52 Active Listings – $439,900 to $4,500,000
Average SQFT – 4,878

Average $/SQFT – $193

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

17 Pending – $425,000 to $3,290,000
Average SQFT– 4,592
Average $/SQFT – $211

22 Sold in last 3 Mos – $408,000 to $1,850,000
Average SQFT – 4,053
Average $/SQFT – $175

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!

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