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Las Vegas, NV Area May 2009 High Rise Inventory Update

By
Services for Real Estate Pros with Savvy Home Pix B.1000860.LLC

Las Vegas Area High Rise Rental Statistics

Rentals:

  • 254 Listed 6/15/2009
  • 19 Under Contract 6/15/2009
  • 51 Leased May 2009 
  • 5.0 Months Inventory

Las Vegas Area High Rise Resale Statistics

Resales:

  • 764 Listed 6/15/2009
  • 89 Under Contract 6/15/2009
  • 38 Closed May 2009
  • 20.1 Months Inventory (=1.7 years) Still bad but significant improvement over last several months!

This Market is extremely volatile due to the boutique nature and lack of financing.    Read last month's report here.

This report is compiled by using data from the GLVAR MLS. Data is gathered by the "VERTICAL" field and the "RESIDENTIAL" field using "CON" as subtype and  "HIGHRIS,LOFTLIV,PENTHSE" equals any for building description.  Information is deemed reliable but not guaranteed.

Read the most current market report for the Las Vegas High Rise Sector right here.

If you are thinking about buying or renting a high rise condominimum in the Las Vegas area, please call 702-966-2494.  Press 1 if you are a buyer or press 2 if you are a renter.  For financing options press option 3.  For selling or leasing/property management press option 0.  We will not list condos that have not yet closed with the builder or are not interested in contract reassignments.  Para español presione el cuatro.

Posted by

Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

copyright 2006-2013 Renee Burrows, REALTOR®, Savvy Home Realty Solutions  702-966-2494

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Comments(7)

Russell Lewis
Realty Austin, Austin Texas Real Estate - Austin, TX
Broker,CLHMS,GRI

"This Market is extremely volatile due to the boutique nature and lack of financing. "

I certainly hear that!  It's good to see that you still have some market and that sales are improving somewhat! Hope you are doing well!

Jul 02, 2009 02:09 PM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Russell:  Still a ton of inventory HOWEVER it's down from something like 7 years of inventory a year ago!

Jul 02, 2009 02:12 PM
Fred Carver Real Estate Consulant
Retired BC Realtor - Victoria, BC
Accredited Real Estate Consultant

Hi Renee...Great to see inventory dropping, still some Great choices for those fussy Buyers, but it looks like they better hurry. The Best Ones always sell First.

Cheers, thanks for sharing your market stats.

Jul 02, 2009 03:25 PM
Sal Poliandro - Helping People Win
RE/MAX Properties - Ridgewood, NJ
Broker Associate

Hi Renee,

     It was great meeting my newest friend in Nevada. Thanks for the hospitality. Great info as always!

Jul 02, 2009 04:34 PM
Richard Stabile
Re/Max Real Estate Limited - Oradell, NJ
Bergen County New Homes Builder Realtor

Renee:

I understand that the high rises are a market of their own. When you say lack of financing, are these all condo? Jumbo's size mortgages mainly?

Richard

Jul 02, 2009 04:38 PM
Robert Vegas Bob Swetz
Las Vegas, NV

Renee - Love the diagrams, very interesting and thanks for sharing!

VB

Jul 02, 2009 05:33 PM
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

Renee, in addition to great charts and information, your now putting in Spanish. Way to go.

Jul 02, 2009 09:28 PM