Sales Velocity is Up & Inventory is Down
It’s no secret that Las Vegas Strip High Rise Condos are selling below current duplication costs. Compared to other cities of its size, Las Vegas has a very limited number of high rise condo buildings. And there are no more residential towers planned. The 4 mile stretch known at “THE STRIP” starts at Sahara Avenue on the North end and goes to Tropicana Avenue on the South end.
Going South, past Tropicana Avenue, is what is called The South Strip. South Strip high rise condos include One Las Vegas, Boca Raton. There are three mid rise complexes: Manhattan, Park Avenue, and Loft 5.
Condos that are Center Strip – in the Harmon Corridor – around CityCenter are the ones that are in the highest demand by far. These would be: The Mandarin Oriental Residences, VEER TOWERS, VDARA, The COSMOPOLITAN, MGM Signature, The Martin & Panorama Towers.
Prices in these buildings are trending upwards as inventory is shrinking. If these market trends continue, which we think will, that will put upward pressure on pricing. Our Team has been involved in the sales of ALL these high rise condo towers from the preconstruction days. Simply put, we know the inventory and what stacks arena the most demand, and which make the best rentals. Having The Stark Team on your side of the transaction will give you a special edge that is needed in an up trending market
Interested in owning a piece of The World Famous Las Vegas Strip?
Enjoy Browsing the listings below and CONTACT LAUREN TODAY. 702-236-8364.