Real Estate Directory - Nevada

Population: 2,241,154 (all 2003 figures)
Capital city/population: Carson City 55,311
Largest cities/population:

  • Las Vegas - 1,998,257
  • Henderson - 214,852
  • Paradise - 207,000
  • Reno - 193,882

Nevada achieved statehood on October 31, 1864. It is the seventh largest state, with a total area of 109,806 square miles. It is the driest of all the states due to the Sierra Nevada along the western border, which cuts off rainy winds from the Pacific Ocean. Average annual precipitation ranges from less than 4” – 9”. The climate varies. Cold winters in the northeast average 23ºF, with hot summers in Las Vegas averaging 90ºF. Berlin-Ichthyosaur State Park is constructed around the fossilized remains of ancient reptiles, within a turn-of-the-century Nevada mining camp. The ichthyosaur is Nevada’s official state fossil.

HOUSING

Las Vegas/Paradise – The housing market is leveling slightly, but appreciation is still expected. The average price for a single-family home of 1,700 square feet is $336,033. The city ranked number one in the nation in real estate appreciation, with a 36% average. Supplies and sales of condominiums continue to increase.

Henderson – Real estate conditions in this city are similar to those of Las Vegas, due to their close proximity. Average sale price for a single-family home is $484,714; average price per square foot is approximately $208. Overall prices range from $$195,000 - $7,250,000.

Reno – Prices have slowed in the under-$300,000 range, with homes remaining on the market for approximately 70 days. Average sales price is $233,871. Homes in higher price ranges have also slowed, with average selling price settling at $374.664, staying on the market for 74 days.

BUSINESS/ECONOMY

Principal industries include gaming, tourism, mining, manufacturing, government, retailing, and trucking. Manufactured goods include food products, plastics, chemicals, aerospace products, lawn/garden irrigation equipment, and machinery. Agricultural crops include hay, alfalfa seed, potatoes, onions, garlic, barley, and wheat. Total state product for 2003 was $88 billion, with a per capita income for that year of $31,910.

SCHOOLS

In response to the No Child Left Behind Act (NCLB), the Nevada Legislature passed statutes that form an accountability model. Annually, schools, school districts, and the overall state are judged against a set of yearly progress criteria. Success is based upon performance assessments aligned to standards, and by judging specific student populations. In 1956, the school districts were replaced by 17 county districts, and the office of state superintendent of public education became appointive by the State Board of Education. In the K-12 sector, the 1994 student-teacher ratio was 18:7, with an average teachers’ salary for 1995 of $36,167

The University of Nevada, founded at Elko in 1874, was moved to Reno in 1886, with a southern campus at Las Vegas. Sierra Nevada College was established at Incline Village in 1969.

HISTORY

Early explorers came to the region of Nevada in the late 1700s, but it was not until almost 50 years later that fur traders arrived. Wagon trains crossed Nevada on their way to California, primarily during the Gold Rush of 1849, and Las Vegas became a station on this route.

The government set up the Utah Territory in 1850, and during this time, mining camps developed as silver and gold rushes began in earnest. In order to impose order, Congress made Nevada a territory in 1861; President Lincoln had signed a proclamation for statehood in 1864, although the area did not meet the necessary population requirements.

The state continued to be dependent upon its mining economy, and when mining depressions and market price fluctuations shook this base, the economy worsened.

In the 20th century, the federal government initiated works such as the Newlands Irrigation Project, the Hoover Dam, and the Atomic Energy Commission. The state’s population increased by more than 1,200% between 1950 and 2000, as the technological industry boomed and retirees sought second homes.

RELIGION (2003)

  • Christian – 78%
    • Protestant – 44%
      • Baptist – 15%
      • Methodist – 6
      • Lutheran – 3%
      • Other Protestant – 21%
    • Roman Catholic – 24%
    • Mormon – 3%
    • Other Christian – 1%
  • Other Religions – 2%
  • Non-Religious – 20%

DEMOGRAPHICS (2003)

  • White non-Hispanic - 65.2%
  • Hispanic - 19.7%
  • Black - 6.8%
  • Asian - 4.5%
  • Native American - 0.9%
  • Mixed race - 1.4%