Thursday, January 11, 2018
2018 Las Vegas Condo Trends
Happy New Year to All!
We were hoping that the new year would roll right in. Rather than rolling, real estate wise, it is more like a gold rush to acquire properties.
Here is a link to a realtor.com article placing Las Vegas as the #1 market that will rule in 2018 - CLICK HERE.
Our market is brisk, with Las Vegas Strip area condos selling really well, prices and rents trending up, and inventory declining to some of the lowest levels we have seen in years. Center Strip, around the Harmon Corridor and South Strip have especially strong sales. North Strip Condos such as SKY LAS VEGAS and Allure are still depressed price wise and selling at about 1/2 the current build able replacement value. I expect that in years to come, these prices will appreciate significantly.
For those looking for uber-luxury -
The photo above was taken from a 10th floor unit at Panorama Towers.
Summerlin Condos are also quite low in inventory. With the opening of the new Downtown Summerlin Mall, it seems that well priced and located townhouse and condo inventory are also at all time lows.
If you are an investor, or one of the many buyers relocating from California ( there is a mini -exodus going on now), our team has the knowledge and skills to help you navigate the challenging market - There are still deals out there to be had, but buyers need to act quickly to avoid multiple offer situations.
Looking for a great Las Vegas Condo Deal - give us a call. As a 46 year Las Vegas resident and 2 native Las Vegans - we know our stuff and the Las Vegas real estate market as a whole.