According to a recent story by the local CBS affiliate, the Las Vegas high rise market has seen an increase in sales. Without actually citing any specific sales numbers, channel 8 interviewed a couple of local realtors to base their story on. Interestingly enough one of them stated that the high rise market is catching up with the single family home market.
If you have been watching the market, you will have watched prices on high rise condos steadily decrease right along with single family homes for the last several years. There hasn't been a recent price drop. The problem most communities faced over the last few years was the unavailability of financing for customers already under contract. Its the very reason that forced CityCenter to lower its prices so customers under contract were able to obtain financing for their units. The report did get one thing right, it is a good time to buy a high rise condos and prices may go down further.
So where are the "great" deals? That really depends on the style of community you want to live in. One of my favorite communities is One Queensridge Place. When it comes to elegance, no other community can compete. The units are large (starting at 2,000 square feet) and is located just minutes from world class shopping, several golf courses and the I95 freeway. Prices started in the millions originally when the project was announced.
If you would like listings of some great high rise condos, feel free to contact me at 702-493-8033. Thanks for visiting our Las Vegas real estate blog.