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MONEY MATTERS

Las Vegas Luxury Condo Market Continues to Soar

Las Vegas luxury condos offer amazing strip views, 24 hour entertainment and endless amenities. Is living where the big kids play right for you?

If you’re looking for luxury condo living The Las Vegas Strip is the obvious place to be. With 24 hour nightlife, restaurants, bars and casinos you have all the amenities of a place like Manhattan and more. The energy on can’t be matched anywhere else. It’s an adult playground paradise.

Las Vegas boasts some of the top rated restaurants in the country and many of them are located on The Strip

But living in a Las Vegas luxury condo offers more than just 24/7 entertainment, the views are incredible.

At any time of day or night the views will seduce you. From the mountains, sunrise or sunset and city lights, the views of the Las Vegas Condos will entice you.

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Most luxury condo towers have rooftop pools, 24 hour gyms, concierge service, on-site spa facilities, theaters and even free limo service. The convenience is immeasurable.

There are a variety of condo options in town, and in order to decide what works for you, you should think about your lifestyle as well as your budget.

An ER Doctor living in one of the Las Vegas luxury condos said this,

“There’s not much off the Strip to entice me away, I haven’t really cooked a meal in the two years I’ve lived here. Nothing I make could compare to the dining options just an elevator ride away.”

Living on the Strip also jells perfectly with hospital work demands. “Vegas in general but the Strip in particular is conducive to life as an ER doctor. We’re a 24/7 culture. Our sleep and wake cycle is screwed up to begin with, so we need things open and available to us at all hours. In that sense, Strip life is perfect.”

 

The Las Vegas high-rise condo market continues to soar and shows no signs of slowing down and could further benefit in 2018 from Californians’ ongoing migration to Southern Nevada, according to analysts and real estate professionals.

With the Vegas Golden Knights hockey team dominating hockey and the incoming NFL Raiders slated to make the change to Las Vegas, real estate in general is booming in the little big city.

The Trump tax plan could be a boon for Las Vegas luxury condo real estate

With California buyers fleeing to Nevada, we’ve been seeing this exodus from California of people coming trying to escape the high taxes and high cost of living.

The tax plan limits deductions of state, local and property taxes to $10,000, and some have suggested that could expedite the move of some Californians for Nevada and other locales.

Many Californians have homes priced between $500,000 and $1 million, and they can’t sell and move within the state because it would be more expensive than what they have. Many are opting to buy properties in Las Vegas for 25 percent to 33 percent of what they have now.

Experts expect Las Vegas luxury condos to continue to be sought out by Californians who are the No. 1 source of migration here. It’s possible financial decisions might prompt them to seek out the destination in greater numbers if their tax burden swells.

The average prices for Las Vegas luxury condos in 2017 reached their peak in the first quarter when they were $519,218 or $395 per square foot.

They were $491,405 or $372 per square foot in the second quarter. The third quarter sales averaged $477,932 or $382 per square foot, and the fourth quarter average was $462,123 or $385 per square foot, according to SalesTraq.

Owners of units at Trump International Hotel had 12 sales during the fourth quarter with an average price of $591,006 or $579 per square foot, the highest price those units have fetched this year. There were 42 sales at Trump so far in 2017, up from 27 in 2016 when the average price was $422 per square foot. There were 32 Trump units on the market through Dec. 20 with an average price of $512,853 or $641 per square foot.

When thinking about your move consider a Las Vegas luxury condos or your vacation property for all it has to offer.

If you would like more information on Las Vegas Strip Luxury Condo market and any alternative please feel free to contact me robynsellsproperty@gmail.com I’m always happy to provide free advice and information to assist you in your search.

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