Anthony Phillips – Page 8 – Las Vegas Condos For Sale

February 9, 2013

2012 Las Vegas Condo Market Report | MyLvCondoSales.com

2012 Las Vegas High-Rise Condo Market Report | MyLvCondoSales.com

The Las Vegas high-rise condo market continues to see significant improvements for the second year in a row. If we compare yearly average sale prices in 2010 ($231,100), 2011 ($270,721) and 2012 ($313,048) we see in increase of avg sale price by 27%.

Our team at Award Realty continues to be the #1 office in regards to sales and leasing in the high-rise segment and hold the records for the highest resale price/sf at Vdara and Veer. In addition, my team also holds the record for highest leasing price/sf in the city for 2012. (Mandarin 2bd at $6500/month).

Here is a brief summary of significant events:

CityCenter Residential sold the remaining residences at Veer towers which totaled 427 condos for roughly $120 million. The new investment group plans on putting 100 of these residences back on the resale market at reduced prices and many are tenant occupied and can provide immediate cash flow. For more information on Veer, please email us.

ST Residential, owners of Juhl, Ogden, Loft 5 and One Las Vegas will be putting these (entire) buildings up for sale in the next 30 days so I anticipate the new ownership groups will start adding inventory to the resale market. Currently, ST has only offered leasing at these buildings but we think there is significant sale demand especially at Juhl and Ogden which are located Downtown.

Turnberry Place continues to see significant challenges due to the Stirling Club being closed and the Fountainblue casino project next door being stalled. The price/sf at Turnberry Place is attractive and there could be upside potential at this project if Stirling opens or if any of the north strip casino projects get completed.

Trump Tower sold 300 residences to the Hilton chain and is outperforming the other condo hotels from a price/sf basis.

The Martin sold 89 residences in 2012 which was the highest of any condo project other than MGM Signature. The Martin continues to be a popular property due to its low homeowner’s association dues, high rental demand, and its close proximity to CityCenter.

Panorama Towers resolved its construction defect litigation and put a significant amount of cash back into the property by improving the valet and common areas. The resolution of litigation should open the building back up for financing so I anticipate Panorama will have a good year in 2013.

Las Vegas Condo Stats

Number of Properties Sold – 708
Avg Sale Price – $305,174
Avg Sale Price/SqFt- $261
Avg Days on Market – 83
Current Inventory on MLS – 361

We have a breakdown of specific buildings including average rental rates on our new investment page, please visit:
http://www.mylvcondosales.com/investments/

Allure Las Vegas

Number of Properties Sold – 53
Avg Sale Price – $206,524
Avg Sale Price/SqFt- $175
Avg Days on Market – 74
Current Inventory on MLS – 20
For current inventory, please visit:
http://www.mylvcondosales.com/las-vegas-strip-area-condos/allure-las-vegas/

Mandarin Oriental

Number of Properties Sold – 4
Avg Sale Price – $1,837,250
Avg Sale Price/SqFt- – $815
Avg Days on Market – 130
Current Inventory on MLS – 18
For current inventory, please visit:
http://www.mylvcondosales.com/las-vegas-strip-area-condos/mandarin-las-vegas/

MGM Signature

Number of Properties Sold – 161
Avg Sale Price – $193,552
Avg Sale Price/SqFt- – $295
Avg Days on Market – 106
Current Inventory on MLS – 18
For current inventory, please visit:
http://www.mylvcondosales.com/las-vegas-strip-area-condos/mgm-signature-las-vegas/

Newport Lofts

Number of Properties Sold – 7
Avg Sale Price – $143,914
Avg Sale Price/SqFt- $101
Avg Days on Market – 101
Current Inventory on MLS – 7
For current inventory, please visit:
http://www.mylvcondosales.com/downtown-vegas-condos/newport-lofts-las-vegas/

Palms Place

Number of Properties Sold – 52
Avg Sale Price – $181,859
Avg Sale Price/SqFt- $253
Avg Days on Market – 112
Current Inventory on MLS – 18
For current inventory, please visit:
http://www.mylvcondosales.com/las-vegas-strip-area-condos/palms-place-las-vegas/

Panorama Towers

Number of Properties Sold – 53
Avg Sale Price – $269,833
Avg Sale Price/SqFt- $194
Avg Days on Market – 73
Current Inventory on MLS – 29
For current inventory, please visit:
http://www.mylvcondosales.com/las-vegas-strip-area-condos/panorama-towers-las-vegas/

The Martin

Number of Properties Sold – 89
Avg Sale Price – $348,470
Avg Sale Price/SqFt- $282
Avg Days on Market – 19
Current Inventory on MLS – 24
For current inventory, please visit:
http://www.mylvcondosales.com/las-vegas-strip-area-condos/martin-condos/

One Queensridge Place

Number of Properties Sold – 13
Avg Sale Price – $1,119,307
Avg Sale Price/SqFt- $330
Avg Days on Market – 219
Current Inventory on MLS -18
For current inventory, please visit:
http://www.mylvcondosales.com/summerlin-condos/one-queensridge-place/

Sky Las Vegas

Number of Properties Sold- 57
Avg Sale Price – $216,460
Avg Sale Price/SqFt- $181
Avg Days on Market – 80
Current Inventory on MLS – 18
For current inventory, please visit:
http://www.mylvcondosales.com/las-vegas-strip-area-condos/sky-las-vegas-condos/

Turnberry Place

Number of Properties Sold – 53
Avg Sale Price – $424,542
Avg Sale Price/SqFt- $184
Avg Days on Market – 114
Current Inventory on MLS – 25
For current inventory, please visit:
http://www.mylvcondosales.com/las-vegas-strip-area-condos/turnberry-place-las-vegas/

Turnberry Towers

Number of Properties Sold – 34
Avg Sale Price – $332,141
Avg Sale Price/SqFt- $262
Avg Days on Market – 66
Current Inventory on MLS -19
For current inventory, please visit:
http://www.mylvcondosales.com/las-vegas-strip-area-condos/turnberry-towers-las-vegas/

Trump Towers

Number of Properties Sold – 65
Avg Sale Price – $267,276
Avg Sale Price/SqFt- $409
Avg Days on Market – 71
Current Inventory on MLS- 27
For current inventory, please visit:
http://www.mylvcondosales.com/las-vegas-strip-area-condos/trump-towers-las-vegas/

Veer CityCenter

Number of Properties Sold- 4
Avg Sale Price- $392,750
Avg Sale Price/SqFt- $447
Avg Days on Market- 33
Current Inventory on MLS- 15
For current inventory, please visit:
http://www.mylvcondosales.com/las-vegas-strip-area-condos/veer-citycenter-las-vegas/

Anthony Phillips
702-482-8885
Anthony@mylvcondosales.com

Anthony Phillips Las Vegas — Anthony Phillips

Data provided by the MLS and is deemed reliable but not guaranteed.

November 28, 2012August 23, 2013

Las Vegas ranked in top 50 of fastest-growing metropolitan areas – VEGAS INC

Las Vegas is expected to be among the 50 fastest-growing metropolitan areas over the next five years, according to a computer projection released today by Pitney Bowes Software.

The city ranks 48th in percentage of anticipated growth and 23rd in the expected number of new households in Pitney Bowes’ first Metro Magnet Index report.

The model, which examined trends in 384 U.S. metropolitan areas, forecasts slow, steady 1 percent annual growth for Las Vegas over the next five years, adding 33,500 households by 2017.

The growth forecast for Las Vegas is comparable to Phoenix, which was one of the fastest-growing cities in the first decade of the 21st century. In terms of number of real households, Las Vegas is on par with projections for the Chicago and Nashville metropolitan areas.

via Las Vegas ranked in top 50 of fastest-growing metropolitan areas – VEGAS INC.

September 21, 2012

Calculated Risk: Existing Home Sales in August: 4.82 million SAAR, 6.1 months of supply

The NAR reports: August Existing-Home Sales and Prices Rise

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 7.8 percent to a seasonally adjusted annual rate of 4.82 million in August from 4.47 million in July, and are 9.3 percent higher than the 4.41 million-unit level in August 2011.

…

Total housing inventory at the end August rose 2.9 percent to 2.47 million existing homes available for sale, which represents a 6.1-month supply at the current sales pace, down from a 6.4-month supply in July. Listed inventory is 18.2 percent below a year ago when there was an 8.2-month supply.

via Calculated Risk: Existing Home Sales in August: 4.82 million SAAR, 6.1 months of supply.

September 15, 2012

Palms Place Las Vegas Condos For Sale | MyLvCondos.com

PALMS PLACE CONDOS FOR SALE, LAS VEGAS

Imagine being part of the trendsetting Palms Casino Resort scene when you want, then being able to retreat to your own Palms Place condo just steps away to indulge in all the quiet luxuries of your amazing high-rise home.

Welcome to the 47-story Palms Place Tower. One of the three towers that make up the famed Palms complex just west of the Las Vegas Strip. Palms Place offers a mix of ultra-modern floor plans from studios to penthouses. Each Palms Place condo offers a bold, contemporary design fused with elegant appointments that make Palms Place a remarkable landmark in Las Vegas luxury living.

Palms Place condos for sale or rent range from studios with 600 square feet of living space, one-bedroom suites with 1,200 square feet of luxury living, and two-bedroom suites designed with 1,800 square feet and a spectacular view of the Las Vegas Strip.

All Palms Place Las Vegas condos are fully-furnished and include hardwood and marble flooring, nine-foot ceilings, state-of-the-art kitchens, 42-inch plasma televisions, and Italian bedding. One-bedroom suites add whirlpool bathtubs, a fireplace, and a washer/dryer laundry closet. Two-bedroom floor plans include an additional kitchen, a double-door entry, and an extra bathroom.

Palms Place amenities include an elegant bar scene in the Palms Place lobby, Simon Kitchen’s upscale restaurant, all the indulgent pampering of the Drift Spa, and a spectacular 50,000-square-foot pool with waterfalls, stone gardens, cabana, full service bar and much more all located on the Palms Place 6^th Floor.

For more information, please visit http://www.mylvcondosales.com/palms-place-las-vegas/

September 13, 2012September 13, 2012

Cosmopolitan Las Vegas Penthouse Condo For Sale | MyLvCondos.com

Cosmopolitan Las Vegas Condos For Sale | Terrace One Bedroom Residence at Cosmopolitan Resort Casino

A Rare opportunity to live in one of the highest private residences Las Vegas. This captivating residence provides endless views of the surrounding city and beyond with sliding glass doors opening to an oversized private terrace. A large, luxurious bathroom features an opulent Japanese soaking tub and an exhilarating shower. Sitting atop the Cosmopolitan Resort Casino, owners enjoy world class amenities and all hotel privileges including room service, private concierge services & much more.

For more information, visit http://www.mylvcondosales.com/cosmopolitan-condos/