Why is Las Vegas high-rise condos appreciation rates since the recovery of 2011 essential if you want to buy or sell?
In our overview of Las Vegas high-rise condo market for 2017, we talked about the market as a whole but a much better report is Las Vegas high-rise condos appreciation rates since the recovery of 2011. In this report, e show how much the median sale prices have appreciated since the market recovery in 2011.
This way we compare an apple with an apple and the margins are from 76.7% median price gain for the highest appreciating tower to 11.3% for a couple of condo hotel towers.
Given that past performance is the best indicator of future performance, towers that have appreciated the most will probably do much better in the future also.
Please find the video transcript of Las Vegas high-rise condos appreciation rates since recovery with all embedded data
This report is not a substitute for Comprehensive Market Analysis (CMA) that needs to be done for a specific condominium in order to calculate the right price. This is due to the fact that all units in a tower may not appreciate at the same rate.
We see many high-rise condos in Las Vegas selling for tens of thousands or in some cases hundreds of thousands of dollars less than asking price. This is due to the listing agent’s total ignorance of Las Vegas high-rise condo market and how to put a value on the unit.