About Las Vegas high-rise condo market updates
If you search for Las Vegas high-rise condo market, you will quickly find that we are the only Realtors who are providing formal Las Vegas real estate market reports based on median prices of units.
News organizations, as well as most Realtors, get their real estate market updates from the Greater Las Vegas Association of Realtors. And they publish them any longer. This is the reason that we do our own research and publish the results. Please click on pictures to go to the video page.
In order to compare similar properties, we have separated the 21 condo towers from mid-rise luxury condominium projects and calculate the median price of all units sold. You can find the Las Vegas high-rise condos for sale towers names in the sidebar.
Las Vegas high-rise condo market is starting to roar, video
The median price of Las Vegas high-rise condos had failed to improve from 2014-2017. At the start of 2018, the median price of units had gained only 3% from 2014. However, the market started to come to life since then and the median price of high-rise condominiums appreciated by 8.5% in the first 5 months of 2018. Please see the video to find out what is going on.
Las Vegas high-rise condo appreciation rates since real estate recovery
Condo towers have not appreciated uniformly. Actually, their appreciation rates since 2011 vary by a wide margin.
In Las Vegas high-rise condos appreciation since 2011 video, we show that the highest appreciating tower is Metropolis at 76.7% and the lowest was a couple of condo-hotels at 11.3%. These two reports complement each other and are essential to make an educated decision to buy or sell units.
In the same report, we show that a few towers like Veer Towers and Metropolis have actually appreciated in 2016. The reason that many units sell for tens or hundreds of thousands of dollars less than asking list price is the listing agent’s ignorance of the market. This hurts the seller badly.