Top 10 Condo Deal | Las Vegas Condo Market Report

Southern Nevada’s economy had a strong 2014, and looks poised to grow stronger in 2015. Unemployment in the Las Vegas  stood at 7.5 percent as of January 2015, down from 8.9 percent in January 2014 and Mccarran Airport set a record for 41,126,512 visitors.

The following articles/bullet points provide more insight to our economy:

Report: Nevada cracks top 10 in economic outlook

Prediction: Las Vegas Home Prices Up by 8.4% Through June 2015

Las Vegas/Clark County Economic Data

Total $ amount of new construction projects planned per year.

• 2015 $1,570,000,000

• 2016 $624,000,000

• 2017 $4,000,000,000+

Average sales price for single family/condos and town-homes.

• 2009 $170,118

• 2010 $166,917

• 2011 $152,924

• 2012 $165,998

• 2013 $214,218

• 2014 $237,041

• 2015 YTD $242,049

Current Luxury Real Estate Advisors Promotions:

• List your residence for sale for only 5% commission.

• Leasing fees of 1 months rent capped at $2,000

• 6% property management (5% for multi-residence clients.)

• We will match Redfin’s buyers rebate program.

Featured Luxury Real Estate Advisors Resale Deals

• Best price 2bd at Veer at $569k w/ a tenant paying $2500

• Best priced 1bd strip view at Newport Lofts at $235k

• Best price Penthouse at Mandarin priced at $1,995,000
• Golf and Red Rock Canyon views from our Mira Villa residence. @ $675k

Click Here For Resale Deals

Developer Deals

Veer Towers

• Studio 1810 E – Leased at 1,350 Sales price $271,000 w/ two years of free HOA dues.

• Studio 1809 E – Leased at 1,400 Sales price $271,000 w/ two years of free HOA dues.

Turnberry Towers

• 1 bd, #704 @ $285,000 with tenant in place paying $1,650 w/18 months of HOA dues

• 2 bd, #401 @ $400,000 with tenant in place paying $2,375 w/ 18 months of HOA dues

Park House

• 2bd #123 $240,000 with a tenant in place paying $2000 w/ six months of free HOA dues.

• 2bd #208 $240,000 with a tenant in place paying $2170 w/ six months of free HOA dues.

Sales and leasing data January-March 31 2015. Data pulled from MLS and deemed reliable but not guaranteed and may not include all developer/non-MLS sales.

Allure

# of Sales-4

Average Sale Price-$360,750

Average Sale Price/SF-$235.42

Average Days On Market-164

# of Leases-18

Average Rental Price-$1500

Average Rental Price/Sf-$134

Average Days On Market-42

Click here to view current sale listings at Allure

Boca Raton

# of Sales-3

Average Sale Price-$152,667

Average Sale Price/SF-$173.19

Average Days On Market-26

# of Leases-4

Average Rental Price-$1099.75

Average Rental Price/Sf-$1.05

Average Days On Market-117

Click here to view current sale listings at Boca Raton

Juhl

# of Sales-N/A

Average Sale Price-N/A

Average Sale Price/SF-N/A

Average Days On Market-N/A

# of Leases-10

Average Rental Price-$1723

Average Rental Price/Sf-$1.37

Average Days On Market-88

Click here to view current sale listings at Juhl

Loft 5

# of Sales-N/A

Average Sale Price-N/A

Average Sale Price/SF-N/A

Average Days On Market-N/A

# of Leases-18

Average Rental Price-$1719

Average Rental Price/Sf-$0.99

Average Days On Market-59

Click here to view current sale listings at Loft 5

Mandarin

# of Sales-14

Average Sale Price-$1,850,196

Average Sale Price/SF-$733.86

Average Days On Market-88

# of Leases-9

Average Rental Price-$5928

Average Rental Price/Sf-$2.99

Average Days On Market-36

Click here to view current sale listings at Mandarin

Metropolis

# of Sales-2

Average Sale Price-$501,500

Average Sale Price/SF-$200.74

Average Days On Market-96

# of Leases-4

Average Rental Price-$2550

Average Rental Price/Sf-$1.24

Average Days On Market-62

Click here to view current sale listings at Metropolis

MGM Signature

# of Sales-15

Average Sale Price-$212,885

Average Sale Price/SF-$349.55

Average Days On Market-184

# of Leases-5

Average Rental Price-$1669

Average Rental Price/Sf-$3.21

Average Days On Market-40

Click here to view current sale listings at MGM Signature

Newport Lofts

# of Sales-2

Average Sale Price-$313,000

Average Sale Price/SF-$238.25

Average Days On Market-3

# of Leases-5

Average Rental Price-$1855

Average Rental Price/Sf-$1.31

Average Days On Market-40

Click here to view current sale listings at Newport Lofts

One Las Vegas

# of Sales-1

Average Sale Price-$205,000

Average Sale Price/SF-$163.61

Average Days On Market-139

# of Leases-19

Average Rental Price-$1752

Average Rental Price/Sf-$1.28

Average Days On Market-49

Click here to view current sale listings at One Las Vegas

One Queensridge Place

# of Sales-8

Average Sale Price-$2,149,375

Average Sale Price/SF-$452.51

Average Days On Market-110

# of Leases-10

Average Rental Price-$5705

Average Rental Price/Sf-$2.09

Average Days On Market-50

Click here to view current sale listings at One Queensridge Place

Palms Place

# of Sales-45

Average Sale Price-$246,931

Average Sale Price/SF-$309.69

Average Days On Market-36

# of Leases-1

Average Rental Price-$2500

Average Rental Price/Sf-$2.05

Average Days On Market-27

Click here to view current sale listings at Palms Place

Panorama Towers

# of Sales-9

Average Sale Price-$334,250

Average Sale Price/SF-$248.15

Average Days On Market-105

# of Leases-23

Average Rental Price-$2252

Average Rental Price/Sf-$1.71

Average Days On Market-49

Click here to view current sale listings at Panorama Towers

Park House

# of Sales-1

Average Sale Price-$199,000

Average Sale Price/SF-$164.19

Average Days On Market-123

# of Leases-N/A

Average Rental Price-$N/A

Average Rental Price/Sf-$N/A

Average Days On Market-N/A

Click here to view current sale listings at Park House

Park Towers

# of Sales-N/A

Average Sale Price-$N/A

Average Sale Price/SF-$N/A

Average Days On Market-

# of Leases-N/A

Average Rental Price-$N/A

Average Rental Price/Sf-$N/A

Average Days On Market-N/A

Click here to view current sale listings at Park Towers

Sky Las Vegas

# of Sales-3

Average Sale Price-$243,333

Average Sale Price/SF-$265.95

Average Days On Market-174

# of Leases-18

Average Rental Price-$1817

Average Rental Price/Sf-$1.45

Average Days On Market-95

Click here to view current sale listings at Sky Las Vegas

The Martin

# of Sales-12

Average Sale Price-$391,875

Average Sale Price/SF-$330.62

Average Days On Market-51

# of Leases-12

Average Rental Price-$2415

Average Rental Price/Sf-$1.80

Average Days On Market-86

Click here to view current sale listings at The Martin

The Ogden

# of Sales-6

Average Sale Price-$400,333

Average Sale Price/SF-$290.74

Average Days On Market-8

# of Leases-2

Average Rental Price-$1538

Average Rental Price/Sf-$1.89

Average Days On Market-31

Click here to view current sale listings at The Ogden

Trump

# of Sales-9

Average Sale Price-$306,611

Average Sale Price/SF-$429.61

Average Days On Market-100

# of Leases-3

Average Rental Price-$2667

Average Rental Price/Sf-$3.38

Average Days On Market-57

Click here to view current sale listings at Trump

Turnberry Place

# of Sales-11

Average Sale Price-$488,455

Average Sale Price/SF-$241.62

Average Days On Market-130

# of Leases-17

Average Rental Price-$2735

Average Rental Price/Sf-$1.23

Average Days On Market-90

Click here to view current sale listings at Turnberry Place

Turnberry Towers

# of Sales-4

Average Sale Price-$398,750

Average Sale Price/SF-$322.68

Average Days On Market-55

# of Leases-20

Average Rental Price-$2153

Average Rental Price/Sf-$1.81

Average Days On Market-62

Click here to view current sale listings at Turnberry Towers

Vdara

# of Sales-1

Average Sale Price-$399,800

Average Sale Price/SF-$635.61

Average Days On Market-9

# of Leases-3

Average Rental Price-$3000

Average Rental Price/Sf-$4.03

Average Days On Market-53

Click here to view current sale listings at Vdara

Veer Towers

# of Sales-17

Average Sale Price-$523,959

Average Sale Price/SF-$497.59

Average Days On Market-60

# of Leases-38

Average Rental Price-$1898

Average Rental Price/Sf-$2.29

Average Days On Market-39

Click here to view current sale listings at Veer Towers

Subdivisions:

Anthem

# of Sales-166

Average Sale Price-$405,104

Average Sale Price/SF-$175.40

Average Days On Market-84

Click here to view current listings at Anthem Country Club

Click here to view current listings at Anthem Highlands

Mountains Edge

# of Sales-79

Average Sale Price-$266,634

Average Sale Price/SF-$119.58

Average Days On Market-83

Click here to view current listings at Mountains Edge

Red Rock Country Club

# of Sales-16

Average Sale Price-$975,588

Average Sale Price/SF-$266.96

Average Days On Market-66

Click here to view current listings at RRCC

Southern Highlands

# of Sales-14

Average Sale Price-$534,557

Average Sale Price/SF-$154.81

Average Days On Market-80

Click here to view current listings at Southern Highlands

The Ridges

# of Sales-4

Average Sale Price-$3,577,222

Average Sale Price/SF-$445.13

Average Days On Market-111

Click here to view current listings at The Ridges

Please contact us if our office can assist you with buying/selling or managing residential and commercial real estate.

Anthony Phillips

Luxury Real Estate Advisors