While the average sales price in Las Vegas rose over 30% in 2013, the median price for homes over $1 million was virtually unchanged last year and remained stable at $1.4 million. Surprisingly enough, though, the volume of closed transactions for Las Vegas luxury homes priced at over $1M almost doubled from 2012. Buyers from pricier markets in California and New York took advantage of the situation, and the number of sales in 2013 spiked to 342.
Most of these luxury home sales were located in the newer upscale guard gated communities. These developments were built during the boom years between 2003 and 2006. Luxury homeowners were reluctant to sell during the subsequent bust of 2007 through 2011, but are now coming to the market after waiting out the past six years to see if prices would improve. They are much more willing to cut their losses and move on, and investors are picking up some terrific bargains that could not be built for the cost.
Check out some of the steals in luxury homes on our web site at:
Sellers are requiring “proof of funds” to purchase, so make sure to have your loan pre approval or bank statement ready. Give us a call at 702-985-7654 to schedule an appointment to view any of these lovely homes.
Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052
With over 30 years of experience helping families call Las Vegas "home!"