Las Vegas Luxury High Rise Condo Sales Activity

Its only 18 days into the New Year and we have seen 38 Luxury High Rise Condo and Condo-hotel sales recorded on the Las Vegas MLS. The median sales price is $161,000 and the highest priced Luxury High Rise condo sold was for $429,900. 13 of the high rise condos sold were non distressed, 18 were short sales and 6 were bank owned listings. Another thing that was interesting was 35 of the 38 total condos sold were sold cash. The most active High Rise Development is The Signature at MGM Grand which had a total of 16 condos sold In the first 18 days of 2011. The Signature at MGM Grand is a Condo-Hotel Community. A Condo-Hotel is a condo community that is used both as a hotel and condo community. The community also has onsite management offering an optional rental program which allows the homeowner to enroll their condo into a rental pool managed by the hotel to offset some of the homeowners carrying cost. Below I included a table detailing information on the number of condos sold and the median sales price for each Luxury High Rise Condo and Condo-Hotel Community. It will be interesting to see how well the Luxury High Rise Community will do In the months ahead. Continue to visit my blog or subscribe to my YouTube Channel LasVegasREtv.org for all the latest Las Vegas Real Estate news and information.

High Rise Development, #Sold Median Sales, Price

Allure 4 $169,000
Metropolis 0 N/A
Newport Lofts 1 $159,000
One Las Vegas 1 $129,999
One Queensridge Place 0 N/A
Palms Place 0 N/A
Panorama Tower North 0 N/A
Panorama Towers 1 & 2 6 $213,150
Park Towers 0 N/A
Platinum Hotel 1 $79,900
Regency Towers 0 N/A
Sky Las Vegas 3 $292,000
Soho Lofts 2 $158,450
The Signature at MGM Grand 16 $152,500
Trump Tower International Hotel 1 $145,000
Turnberry Place 2 $302,500
Turnberry Towers 1 $429,900

Makea Turner

Realty One Group

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