Why Las Vegas Luxury Real Estate Is The Next Big Market Boom

Why Las Vegas Luxury Real Estate Is The Next Big Market Boom

Realtor.com welcomes the city as Real Estate Market No. 1; in the country this year, an achievement that the city failed to achieve before. The year 2017 has already shown a strong number that makes this recognition really inevitable.

There were 184 existing $ 1 million dollars homes sold in Las Vegas in the first half of 2017, According to Salestrack, a research firm in Las Vegas, and the Applied Analysis research firm. This is a great improvement compared to 139 existing homes sold during the same period in 2016.

 By January this year there was a decrease and sales increase. According to the Greater Las Vegas Association of Realtors (GLVAR), In January, 2,261 single-family houses were sold, a decline of 13.7% from the December sale and a 5.5% rise from January 2017; Based on a report published by GLVAR, the average cost of single-family homes sold in the city in April this year is $ 289,000, Growth of 3.2% of the average price for the previous month.

The Las Vegas housing market continues to be stable and many real estate experts expect figures to rise higher by the end of the year.

Factors driving the real estate market

Real estate can be a tough business, but that’s important. The fact that the luxury real estate industry in Las Vegas is impressive proves that something good is happening in the city or that its forces are doing something right.

The positive decline in sales may be due to many factors, such as many people from different countries who are trying to move or open a business in the city. Many property owners in California could move to Nevada because the Oakland Raiders football franchise will move to Las Vegas.

Another factor is the continued progression of the subway. There are bigger and better establishments like the NFL with 65,000 seats stadium, Lazy world and Wine of Paradise ParkInnovations such as these are willing to open more jobs for the growing population and paying for jobs means people buying homes.

In addition, there are urban dwellers who are downsizing and upward, thus a large number of resales and purchases of new homes. Remember, with the current state of the luxury real estate market in Las Vegas, consumers can afford luxury housing at competitive prices, even if they are declining.

While all of this is good and true, the main driving force of the thriving luxury home market is the united cooperation of everyone to rebuild the city and bring it back to its glorious roots. It may be unclear, but everyone who lives in the city has its own contribution. For example, as a real estate agent, I believe in the “no excuses” approach and am convinced that I share the same trait with countless real estate agents across the city. There are great results when you combine risk-taking ideologies, build trust, fireworks in customer service and expertise. Las Vegas has shown its ability to rise above economic hardship and is not dependent on pure opportunity but on the hard work of its citizens, on the ability to adapt to real estate trends and to improve the city’s overall infrastructure. end of the year.

 

 

 

 



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