A Rise in the Condo Market

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

Comments

Units start at 2000 SF?

Units start at 2000 SF? That's something else! One Queensridge Place sounds like a nice find. Austin has a tight Downtown with limited building space. Condos tend to occupy smaller footprints and therefore don't have as large units.

Condo Boom

Here in Naples Florida, we're still recovering from the real estate boom and bust. Not sure what is condo and what is single family, but many homoes in the millions are still foreclosing so I don't think we have reached bottom yet

Condo Market

Your article was very enlightening. Here in Austin the high-rise condos downtown continue to be bought and sold, especially the newer ones. Some of the developments have haulted construction but overall it remains a healthy market, especially for the retired population and young professionals.

High rise condos

The Queensridge high rise looks massive and 2,000 square foot per condo is amazing--not to mention what the view is probably like with all those windows. It's a good thing the prices are becoming more affordable, so people have an opportunity to buy one and enjoy it.

condo market

I have been working with a Vegas property investment company and never got this depth of info on the condo market - opens up an entirely new avenue.

Condos and Property

Hola,

Found your blog via your post on EB blog and thought id pay you a visit.

Very interesting what you have to say about the condo market

Here in Spain are biggest problem is were at the end of the recession and if people dont buy in 2010 they will have missed the boat but trying to get the majority of people to believe it is very hard

Is this your expierence or is there a major difference as our sales in spain are mainly to International clients

It's interesting to read

It's interesting to read what's going on with the condo market outside of Austin, Texas! We have had a boom in condos in the downtown area and on the lake...beautiful hi-rises with tons of amenities. However, due to the economy, we are experiencing more and more condo auctions and slower development. Hopefully things will change before the end of the year.

Post new comment

The content of this field is kept private and will not be shown publicly.