Las Vegas Real Estate Market Trends: Condos, High Rises, & Home Prices Up!

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Real Estate Agent with Elite Realty-Luxury Homes & Condos On & Off the Strip License.#B.S. 4430

Las Vegas Real Estate Market Report for September 2012

By June Stark, Las Vegas Luxury & High Rise Condo Expert

What does the future hold for Las Vegas real estate?

We have no crystal ball, but all sales data points to rising prices and and a rosier future.

CLICK TO READ THE SEPTEMBER 2012 Las Vegas Real Estate Report

While prices are increasing, verifying that a market bottom is in, sales volume is down.  We attribute this to the very low inventory levels, fewer foreclosures, and buyer frustration due to the multiple offer scenarios that are commonplace.

As far as the high rise condominium market sector is concerned, there were 62 sales reported in the Las Vegas MLS, with the majority of them being in three buildings: Trump Las Vegas, Mgm Signature, ( both of which are condo hotels and must be cash only purchases) and The Martin, Las Vegas' best selling residential high rise tower.

The statistics from the MLS do not include the brand new home sales in Las Vegas and Henderson sales data.  What we are experiencing in this market sector is a lack of standing inventory and sales that have picked up significantly, as real estate buyers and  investors are seeing  the gap between price per square foot on foreclosures and short sales versus brand new homes close.  

The links below will help you research the Las Vegas High Rise, Condo, and Homes markets:

Las Vegas High Rise Tour

Las Vegas Luxury Homes Community Tour

 Contact us for more info.  We will be delighted to help you in your Las Vegas real estate search!

 

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Lauren Stark 10/09/2012 10:37 AM
Topic:
ActiveRain Community
Location:
Nevada Clark County Las Vegas
Groups:
Investors
Posts to Localism
Las Vegas Foreclosures - Homes, High-Rises-Condos
Las Vegas Condos
Tags:
las vegas luxury homes for sale
las vegas high rise condos for sale
las vegas real estate trends
las vegas real estate market datatt

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June Stark

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