Las Vegas High Rise Condo Market

Las Vegas High Rise News - October 2023

Are you searching for a luxury high-rise condo in Las Vegas? Today, you have 282 options available in our top high-rise towers. That's up from 262 last month but a drop from 373 last year.

We sold 47 condos in our top buildings in October. That's down from 64 in September and 53 in August. It's slightly different from the 50 condos we sold in October 2022.

Top Sellers in October 2023:  As usual, Signature at MGM had the most activity, with 10 condos changing hands in the three towers. Second place was Trump, with 7 closings. Palms Place was third with 6 closings. All three of the top sellers are condotel properties that allow short-term rentals.

High-Rise Price Trends:  We sold 6 luxury condos for $ 1 million plus. The top price paid was Waldorf Astoria #4207. Listed for $3.495M, it sold for $3.495M with 26 days on the market.

Palms Place came in second with penthouse 58304. The 3300 sf condo was listed for $2.799M and sold for $2.7M with zero days on the market. The third highest price was back to Waldorf Astoria #3403. Listed for $2.595M, it sold for $2.55M with 68 days on the market. The final three that sold for over a million included two condos at ONE Queensridge and a one-bedroom condo at Waldorf Astoria.

Lowest Closing Prices:  Trump Tower was the location for all four of the lowest-priced deals in October. The lowest price was #1620. Listed for $239,999, it sold for $220K with only 34 days on the market. The second lowest was a tie between #3616 & #3617. Each condo was listed at $261K and sold for $253K. The fourth lowest price for October was Trump #2601. Listed for $265K, it sold for $261,500 after 120 days on the market.

Highest Price Per Square Foot:  Waldorf Astoria took all three of the top spots in this category. Waldorf #4207 sold for $1,613/sq. ft., followed by #3403 at $1,544 and #2511 at $918/sq. ft.  

Lowest Price Per Square Foot:  ONE Las Vegas took both of the lowest price/sq. ft. positions, with unit 205 closing at $259/sq. ft. and #1312 closed at $261/sq. ft. Third place was a tie with Allure #2508 at $309/sq. ft. and Turnberry Place Tower 4, #2203, at $310/sq. ft.

Sold in October 2023:

Las Vegas High Rise News - September 2023

Are you dreaming of the luxury lifestyle offered by a Las Vegas High-Rise Condo? You're in luck. There are 262 condos for sale in our top high-rise buildings. That's similar to the number we've had for sale the last few months but a drop from 398 luxury condos for sale this time last year.

We sold 64 condos in our top towers in September, up from 53 in August and 44 in July. It's a nice improvement over September 2022, when only 40 condos sold in the same buildings.

Top Sellers in September 2023:  Signature at MGM continues to experience the highest sales volume—15 condos sold in the three Signature towers in September.

Veers Towers placed second with 7 condos sold for the month. Third place was a tie between Trump and Turnberry Place, with 6 closings in each community.

High-Rise Price Trends:  We sold 7 luxury condos for over $1 Million in September. Once again, the top price was at Waldorf Astoria, where #2406 closed at $2.9M. The 2910 sf condo had been listed at $3.399M for 28 days when it went into contract.

The second highest price was Turnberry Place Tower 4, #2301. Listed for $1.45M, it sold for $1.36M with 55 days on the market. The third highest price was Veer Towers East #1408. This Strip-view condo was listed for $1.395M and sold for $1.275M after 35 days on the market.

Lowest Closing Prices:  The lowest sold price in September was Juhl #567. Listed at $255K, it sold for $247K with 12 days on the market.

The bottom three included two condos at Trump. Trump #2604 was listed for $255K and sold for $255 K after 7 days on the market. Trump #2127 was listed for $264K and closed for $265K after 16 days on the market.

Highest Price Per Square Foot:  All three top prices per square foot were in the CityCenter complex. Waldorf Astoria #2406 closed at $996.56/sf. It was followed by Waldorf Astoria #3711 at 971.97/sf. Vdara came in third with #7023 closing at $964.07/sf.

Lowest Price Per Square Foot:  ONE Las Vegas #121 closed at $263.62/sf. It barely beat out The Ogden #906, which closed at $263.75/sf. The third lowest price per square foot was at ONE Las Vegas, with #505 closing at $272.80/sf.

Las Vegas High Rise News - August 2023

Are you looking for a High Rise Condo in Las Vegas? This month, you have 263 options available, up from 252 last month. That's a considerable drop from 382 condos for sale last year.  

We sold 53 condos in our top buildings in August. That's up from only 44 sold in July but less than the 70 sold in August 2022. Hopefully, the sluggish sales in July were seasonal.

Top Sellers in August 2023Signature at MGM held the top spot again, with 13 condos changing hands in August.   The second place was Turnberry Place, with 8 closings. The third place was a tie between Turnberry Towers and Palms Place, with 4 transactions each.

High-Rise Price Trends:  We sold 5 high-rise condos for over $1 Million in August. The top price paid was Waldorf Astoria #3006. With a list price of $2.75M, this one sold for $2.6M with only 2 days on the market.

Turnberry Place Tower 3 placed 2nd and 3rd. Penthouse 3004 was listed for $2.599M and sold for $2.5M after 23 days on the market. Turnberry Place Tower 3, #3404 was listed for $2.35M and sold for $2.1M after 78 days on the market.

Lowest Sold Prices:  Trump offered the lowest closing price with unit 2224. Listed at $249,999, it sold for $240K after 88 days on the market.  Juhl was the second lowest sold price with #631. Listed for $249K, it sold for $249K after 41 days on the market. Trump had the third lowest price with #3609. Listed for $260K, it sold for $255K with only 1 day on the market.

Highest Price Per Square Foot:  Waldorf Astoria #3006 took first place at $1,552.24/sf. The second highest price per square foot was Vdara #23046 at $1,082.57. Third place was Waldorf Astoria #3111 at $house 877.03/sf.

Lowest Price Per Square Foot:  The Ogden was the lowest, with #1019 closing at $282.07/sf. Turnberry Place Tower 2 #904 was the second lowest at $300.00/sf. Turnberry Place Tower 3 #1004 was third lowest at $304.88/sf.

Las Vegas High Rise News - July 2023

Las Vegas Condo Buyers have 252 residences for sale in our top high-rise buildings. That's about the same number of condos for sale in the last two months. It's a significant decline from the 386 units for sale in the same buildings the previous year.

In July, we only sold 44 condos in those same buildings. That's a sizeable drop from 75 in June and 65 in July 2022. It's similar to the 40 units we sold in September 2022. The decline might be a seasonal anomaly that will improve going forward.

Top Sellers in July 2023:  The top spot went to Signature at MGM again, with 11 closings in their three towers.  

The second place was between Turnberry Place, Panorama Towers, and Juhl, with 5 closings in each tower. The third place was a two-way tie between Veer Towers and ONE Las Vegas, with 3 sales each.

July was the first month when neither Palms Place nor Trump made the top three in sales volume—only two condos sold at Palms Place and one sold at Trump in July.

High-rise Price Trends:  We sold 6 high-rise condos for $1M+ in July. Surprisingly, all were in the $1-$1.7M range, with no condos closing for more than $2M.

The top price was Panorama Towers, Bldg 2 #3100. Listed for $1.7M, it sold for $1.7M. The second highest was Turnberry Place Tower 3 #2901. Listed for $1.5M, it sold for $1.4M. Third was ONE Queensridge Place, Bldg 1 #403. Listed for $1.459M, it sold for $1.35M.

Lowest SOLD Prices:  We still have a few condos selling for less than $300K. The lowest closing price in July was Juhl #269, listed for $264,900, it sold for $245K. Trump #2603 was the second lowest, listed at $265K, it sold for $259K. Allure #306 rounded out the bottom three sold prices, listed for $279K, it sold for $279K.

Highest Price Per SF:  Waldorf Astoria holds onto the highest price per square foot of our high-rise buildings. Waldorf Astoria #3202 sold for $1055/sf, and #2101 sold for $992/sf. The third highest price per sf was Veer Towers West #2001. That one closed at $853/sf.  

Lowest Price Per SF:  Metropolis #605 closed at $235.41/sf., after 181 days on the market. ONE Las Vegas, #305, followed at $257.85/sf. The third lowest price was Allure #1701 at $259.12/sf.

Las Vegas High Rise News - June 2023

Are you looking for a High-Rise condo in Las Vegas? Today, 249 condos are listed for sale in our top high-rise towers. That's down slightly from 252 last month. It's a significant drop from 364 condos in the same buildings available last year.

We sold 75 condos in our top buildings in June, slightly decreasing from the 83 we sold in May. It's equal to the 75 condos we sold in June 2022.

Top Sellers in June 2023:  Signature at MGM holds on to the top spot for another month, with 16 condos changing hands in June. That's down from 28 in May but up from 11 in June 2022.

Second place was Trump, with 8 condos changing hands. Third place was a tie between Veer Towers and Allure, with 6 condos closing escrow in each building.

High-Rise Price Trends:  We sold 9 high-rise condos for over $1M in June. The top price was ONE Queensridge Tower 1, #102. Listed at $3.25M, it sold for $3,087,500 after 25 days on the market.

Turnberry Place, Tower 1 #2301 & 2302 was the second highest price. These two condos had been combined to form a large residence. Listed for $3.399M, they sold for $2.95M after 227 days on the market.

Waldorf Astoria #2909 was the third-highest closing price. Listed for $2.5M, it sold for $2.5M after 71 days on the market.

Lowest Closing Prices:  Trump took all three spots for the lowest SOLD prices. Units 3517 and 3516 both closed for $245K. Unit 1804 was third at $251K.

Highest Price Per SF:  Waldorf Astoria retakes first place with unit 2909, which closed for $1194/sf. Second Place was Veer Towers East #1808, which sold for $1046/sf. Third place was Vdara #17030 which closed at $994/sf. All three of the buildings with top prices are located in CityCenter.

Lowest Price Per SF:  Allure retakes first place with unit 301 for $203/sf. ONE Las Vegas #213 was second at $237/sf. Allure #1108 closed at $257/sf for the third lowest.  

Las Vegas High Rise News - May 2023

The Las Vegas High Rise market now has 252 luxury condos for sale without offers. That’s down from 277 in April and 333 condos for sale last May.  

We sold 83 condos in the top luxury buildings in May. That’s a nice increase from the 65 we sold in April. It’s only slightly less than the 88 we sold in May 2022.

Top Sellers in May: For the umpteenth month, Signature at MGM Grand took the lead, but it was a huge lead this time. Signature at MGM saw a record of 28 condos changing hands in May.

A three-way tie followed Signature. Palms Place, Trump (both condotel buildings) and Turnberry Place (residential condos) all had 9 closings in each building.

Turnberry Towers followed the three-way tie with 5 closings.\

Investors are bullish on the Las Vegas condoles thanks to all the sports events coming to Las Vegas.

High-Rise Price Trends: We sold 7 high-rise condos for $1M+. The top price for another month was Waldorf Astoria, where unit 4307 was listed for $3.5M. It sold for $3.35M after 29 days on the market.

Waldorf Astoria also took second place with unit 3509. This 2-bedroom condo was listed for $2.995M. It sold for $2.95M after 5 days on the market.

The third place was ONE Queensridge Place #505. Listed for $2M, it sold for $1.95M after 6 days on the market.

Lowest Sold Prices: ONE Las Vegas takes the prize in this category with unit 705. Listed for $335K, it sold for $350K above list price. It had been on the market 91 days.

Second and third place was a tie. Allure #1004 was listed for $369K when it closed for $355K after 15 days on the market. ONE Las Vegas #2008 was listed for $359,999 and sold for $355K after 13 days on the market.

Highest Price Per Square Foot: All three of the highest price-per-square-foot closings were in the CityCenter complex. Waldorf Astoria #4307 closed at $1546/sf. Waldorf Astoria #3509 closed at $1409/sf. Third place was Vdara #22032, closed at $990/sf.

Lowest Price per Square Foot: Lowest price per sf goes to ONE Las Vegas, with unit 2008 closing at $260/sf. It was followed by ONE Las Vegas #705, which closed at $262/sf. Third place was Allure 1003 R $288/SF.

Las Vegas High Rise News - April 2023

The Las Vegas, High Rise Market, showed a slight uptick in April. We have 277 condos listed for sale in our top buildings. That's a drop from 289 in March and a more significant drop from the 302 we had a year ago.  

We sold 65 luxury condos in April, up from 60 in March. Unfortunately, that's just over half the 121 condos we sold in April 2022.

Top Sellers in April:  Signature at MGM holds on to the highest sales volume with 15 condos that sold. Palms Place was second with 12 closings. Third place was Trump, with 7 condos changing hands. All three of the top sellers in March were condotels with the option of short-term rentals.

High-Rise Price Trends:  We sold 9 high-rise condos for $1M+ in April. The top price was Waldorf Astoria #3909. Listed for $2.899M, it sold for $2.71M after 62 days on the market.

ONE Queensridge Tower 1 was second with #1105. It was listed for $2.299M and sold for $2.1M after 42 days on the market.  

The third place was Panorama Towers, Tower 2 #1909. This end unit with Strip views and a large balcony was listed for $1.495M. It sold for $1.405M after 170 days on the market.

Lowest Sold Prices:  Trump had the lowest prices, with 5 condos that sold for $250K or less. The lowest was in 3208. Listed for $252,500, it sold for $225K with 5 days on the market. It was followed by #1712, which sold for $240K. Unit 2201 closed at $248,500. Units 3119 and 1901 were listed for $250K, each sold for $250K.

Highest Price Per Square Foot:  All three of the highest prices per square foot were in the CityCenter complex. Waldorf Astoria closed for $1294/sf. Vdara #I have 26026 closed for $1038/sf. Waldorf Astoria 3210 sold for $932/sf.

Lowest Prices per square foot:  Allure #708 was the lowest at $217/sf. Allure #1812 was next at $298/sf. The third lowest was The Ogden #1216 at $318/sf.

SOLD in April 2023:

Las Vegas High Rise News - March 2023

The Las Vegas High Rise Market is steady as we enter into Spring. We have 289 condos for sale in our top buildings. That’s about the same as the 292 we had last month. It’s a nice increase over the 251 we had last year.

We sold 59 condos in the top buildings I follow for this report, up from 51 in February and 41 in January. It is a drop from the 85 we sold in February 2022.  

Top Sellers in March: Signature at MGM holds on to the top spot again with 15 condos changing hands. Trump was second with 7 units sold. Turnberry Place came in third with 6 transactions in March.

High-Rise Price Trends: We sold 12 high-rise condos for $1M+ in March. 7 of those sold for more than $2M. The top price was Waldorf Astoria #4303. This 2 bedroom, 3 bath, 2756 sf home was listed for $4.995M. It sold for the full list of $4.995M after 131 days on the market.

For this report, I only track our high-rise buildings constructed in 2000 and later. The second-highest price condo that sold in February that’s not included in the total number because it’s in an older building. Regency Towers was built in 1973, so I don’t track it as part of this report. The building is located in the Las Vegas Country Club. Some of the residences have incredible views of the golf course and Strip. I don’t track it because I prefer the amenities and architecture of the newer towers. However, there was a penthouse that sold at Regency Towers last month that is worth mentioning. Units 28F and 28H combined two condos to create 7363 sf of living space. It was listed for $3.2M and sold for $3.3M with only 11 days on the market.

The third highest price was at Waldorf Astoria, where unit 2704 was listed for $3.25M and sold for $3.05M after 117 days on the market. Three other residences at Waldorf Astoria were included in the top 12 prices paid in March.

Lowest SOLD Prices: Allure #2909 was closest at the lowest price of our condos sold in March. Listed for $240K, it sold for $233K with 28 days on the market.  The second lowest was Trump #2817. Listed for $244,900, it sold for $240K after 22 days on the market. The third lowest was Trump 2804. Listed for $269,888, it sold for $250K after 270 days on the market.

Highest Price Per Square Foot: Four high-rise condos closed for over $1000/sf. The top price was Waldorf Astoria #4304, which closed at $1812. Waldorf Astoria #3704 closed at $1190. Vdara #27038 closed at $1014. Finally, Waldorf Astoria #26094 sold for $1003/sf.

Lowest Price Per Square Foot: Two of the three lowest prices per square foot were at Allure. Unit 901 sold for $202/sf. Turnberry Place Tower 2, #403, sold for $264/sf. Allure #3711 sold for $303/sf.

SOLD in March 2023:

Las Vegas High Rise News - February 2023

The Las Vegas High Rise market is slow but isn’t seeing the price reductions of the general real estate market. The number of condos in our top high-rise buildings is stable at 292 this month, the same as last month. That is an increase over the 251 listings we had available last year.

We sold 51 condos in our top buildings in February, up from 41 in January. It’s about a third less than the 85 we sold in February 2022.

Top Sellers in February: The highest activity was in our condotel market. We have four condo towers that offer the option of Airbnb for as little as 1 or 2 nights. Signature at MGM held on to the number 1 position with 11 condos changing hands. Trump was in second place with 7 closings. Palms Place came in 3rd with 6 closings. Inventory at Vdara in CityCenter is limited, but even that tower saw 4 closings in February.

High-Rise Price Trends:  Only 3 high-rise condos sold for $1M plus in February.  Top price was Turnberry Place Tower 2 #3703.  Listed for $8.25M, it sold for $8M after 14 days on the market.  Turnberry Place Tower 2 #2704 was listed for $2.45M and sold for $2.15M after 99 days on the market.  Third highest price was Waldorf Astoria #3610 which was listed for $1.24M and sold for $1.1M after 91 days on the market.

Lowest SOLD Price: All three of the lowest closing prices were at Trump. Unit 2224 was a studio listed for $240K and closed for $220K. Unit 2717, another studio, was listed for $235K and closed for $232K. Units 3114 and 3115 were both studios. Both were listed for $258K and closed for $240K.

Highest Price Per Square Foot - Highest Price per Square Foot was Turnberry Place Tower 2, #3703. This one closed for $1250/sf. Second place was Vdara #55010 for $1023/sf. Vdara #24010 came in third at $1015/sf.

Lowest Price Per Square Foot: Soho Lofts #702 closed at $239/sf. Two condos followed it at ONE Las Vegas. Unit 107 closed at $249/sf. While unit 602 closed at $240/sf.

SOLD in February 2023:

Las Vegas High Rise News - January 2023

The Las Vegas High Rise market continues to move along at a slow pace. We have 292 condos in our top buildings listed for sale today. That’s only a slight dip from the 301 we had a month ago. It’s a slight increase from the 264 we had last year.

We sold 41 condos in the same buildings in January. That’s only one less than the 42 that sold in December. It’s a more substantial drop compared to the 73 condos that sold in January 2022. 

Top Sellers in January: Signature at MGM blew all the other buildings away in January with 12 condos that sold. Panorama Towers was second, with 5 closings in those two towers. The third place was Juhl, with 4 closings.

High-Rise Price Trends: Five condos sold for $1M or more in January. The top price was ONE Queensridge Tower 2 #1604. This one was listed for $5.65M and closed for $5.245M with only 15 days on the market.  

Second and third places with both at Waldorf Astoria, where #3003 was listed for $2.1M, and it closed for $1.925M. Waldorf Astoria #2907 was listed for $1.95M and closed for $1,822,500.

Lowest SOLD Prices: Allure had the lowest closing price with unit 1709. Listed for $240K, it closed for $227,500. Palms Place #1007 came in second at $250K. Signature Tower 3 #204 was third place with a $260K closing price.

Highest Price Per Square Foot: All three of the highest prices per square foot were located in the CityCenter complex. Waldorf Astoria #3004 closed at $1165/sf. Waldorf Astoria #2907 was a close second at $1158/sf. Vdara 54010 was the third highest per square foot at $1025.

Lowest Price Per Square Foot: Turnberry Place Tower 4, #204, closed at $299/sf for the lowest price. It was followed by Panorama Towers #101 (this is one of the “cabana” units around the pool. It closed at $305/sf. Allure #3308 was the third lowest at $306/sf.

Las Vegas High Rise News - December 2022

The Las Vegas High-Rise market saw another dip in condos for sale over the past month. Today we only have 301 condos for sale in our top buildings. Last month we had 337 and 373 the month before. It’s a slight jump from the 264 listings we had when we started 2022.

We sold 42 high-rise condos in December. That’s less than half the 89 condos we sold in these same towers in December 2021. It’s only a slight drop from the 46 condos we sold in November.

Top Sellers in December: First place once again was Signature at MGM, with 9 transactions for the month. Second place was Turnberry Place, with 6 units sold, followed by Trump with 4 closings.

High-Rise Price Trends: We sold 4 high-rise condos for $1M+. The top price was ONE Queensridge Place Tower 1 #1703. It was listed for $4,599,987, and this penthouse sold for $4.4M after 256 days on the market.

Veer Towers West #2302 was second. Listed for $1.65M, it sold for $1.4M after 176 days on the market. ONE Queensridge Place took 3rd place with unit 1003. Listed for $1.5M, it sold for $1.25M with only 34 days on the market. ONE Queensridge Place Tower 1 #606 was the final luxury closing. Listed at $1.1M, it closed for $1.015M after 45 days on the market.

Lowest SOLD Prices: Trump saw the lowest price for a high-rise condo with unit 3914. Listed for $249K, it sold for $245K after 142 days on the market. Signature at MGM Tower 2 #1018 was second. Listed at $275K, it sold for $252K after 123 days on the market. Trump #2301 was third. Listed for $269K, it sold for $254K after 70 days on the market.

Highest Price Per Square Foot: Veer Towers West #west 2302 took first place at $970/sf. It was followed by ONE Queensridge Bldg 1 #1703 at $902/sf. Vdara #23030 at $890/sf was third place.

Lowest Price Per Square Foot: Allure #2907 was top of this list at $275/sf. It was followed by Turnberry Place Tower 4 #305 at $286/sf. ONE Las Vegas #1612 was third at $293/sf.

The number of cash deals continues to be prominent in the high-rise market. Last month, 64% of the closings were cash purchases, with conventional financing only accounting for 32%. One of the closings was an “Owner Will Carry,” and another was purchased via 1031 exchange.

SOLD in December 2022:Las Vegas High Rise News - November 2022

Las Vegas High-Rise Market Noember 2022

The Las Vegas High-Rise market is one sector of our market that isn’t seeing significant growth in inventory. Today we have 337 high-rise condos available in our top buildings. That’s down from 373 last month and 398 the month before. It’s about a 30% increase over the 237 we had last year.

We sold 46 condos in our top buildings last month. Slightly fewer than the 50 we sold in October but less than half the 103 we sold in November 2021.

Top Sellers in November - First place was a tie between Signature at MGM and Trump, with 8 condos changing hands in each community. Second place was a tie between Allure, ONE Queensridge, and Panorama Towers, with 4 condos closing escrow in each community. Third place was also a tie between Vdara, Veer Towers, and Juhl, with 3 condos selling in each of those communities.

High-Rise Price Trends: We sold 7 high-rise condos for $1M+ in November, the same as in October. The top 3 sold for more than $2M, with Waldorf Astoria #4701 closing for $4.9M with zero days on the market.

The second highest price was at ONE Queensridge Tower 2, with #1503 listed for $3.75M and closing for $3.25M with 49 days on the market. The third highest was ONE Queensridge Tower 1 #1005. Listed for $2.45M, it closed for $2.38M with 7 days on the market.

Lowest SOLD prices: All three of the lowest closing prices were at Trump. Studio unit #2416 was listed for $229K and closed for $210K after 72 days on the market. Studio #3514 was listed for $225K and closed for $214K after 88 days on the market. Studio #4019 was listed for $239,900 and closed for $240K after 17 days on the market.

Top Prices Per Square Foot: The top prices per square foot were all in the CityCenter complex. Waldorf Astoria, Penthouse 4701 closed at $2305/sf. Waldorf Astoria #2601, a one-bedroom residence, closed at $936/sf. Vdara #22017, a studio condo closed at $891/sf.

Lowest Prices Per Square Foot: Lowest price per square foot in November was Allure #808, which closed for $274/sf. The second lowest was Turnberry Place Tower 2 #902 at $285/sf. The third lowest was The Ogden 1010 at $321/sf.

Las Vegas High Rise News - October 2022

Las Vegas High Rise Condo buyers have slightly fewer options this month than last. Today, we have 373 condos in our top buildings listed for sale without offers. Last month it was 398. In November 2021, we had 281 condos available.

We sold 50 high-rise condos in our top buildings in October. That’s an improvement over the 40 that sold in September, but that’s still a significant drop from the 82 condos we sold in October 2021. Most of the condos that sold in October closed below the list price, with only a couple closing above the list price and about 10 closing at the list price.

Over half of the condos that sold were purchased with cash. Two were 1031 exchanges. The remainder sold with conventional mortgages and two VA mortgages. One was an “Owner Will Carry,” and another was a “Contract of Sale.”

Top Sellers in October: Signature at MGM Grand has held first place for most of the past year. October saw them bumped.

The first place was Palms Place, with 9 condos that sold. Second place was a tie between Trump and Veer Towers, with 8 units selling in each community.  

Third place was Signature at MGM, with only 6 condos that sold.

High Rise Price Trends: We sold 7 luxury high-rise condos for $1M plus. The top price paid was Waldorf Astoria Penthouse 4607. Listed for $3.6M, it sold for $3.6M after only 6 days on the market.

The second highest price was Turnberry Place Tower 1, #3502. It was listed for $2.595 and sold for $2.35M after 70 days on the market.

Third place was Panorama Towers Tower 2 #1503. Listed for $2M and sold for $1.75M after 11 days on the market.

Lowest SOLD Prices: The lowest price was at Juhl with unit 317. Listed for $244,900, it closed for $217K after 51 days on the market. Two condos at Trump followed it. #4423 was listed for $239,888 and sold for $219K after 67 days on the market. Trump #1620 was listed for $219K and sold for $220K after 27 days on the market. Unit 1620 was one of the few condos sold for slightly above the list price last month.

Top Prices Per Square Foot: Waldorf Astoria again rocked the top prices. Unit 4607 sold for $1661/sf. Unit 3901 closed for $1153/sf. Veer Towers (also in CityCenter), unit 2904, closed at $984/sf.

Lowest Prices Per Square Foot - Allure #1804 came in at $302/sf. Turnberry Place Tower 2 #1803 closed for $319/sf. ONE Las Vegas #1807 closed for $324/sf. For the first time, the three lowest prices per square foot all topped $300.

Las Vegas High Rise News - September 2022

The number of high-rise condos for sale in Las Vegas edged up slightly over the prior month.  In last month's update, we had 382 condos for sale in our top buildings.  Today, we have 398 luxury condos available.  A year ago, there were only 303 condos for sale in the same buildings.

We only sold 40 high-rise condos in our top buildings in September.  That's slightly more than half of the 70 condos sold in August.  It's half of the 80 sold in the same towers in the same month of 2021.

Of the 40 condos sold in September, 31 closed for less than the list price, sometimes slightly less and sometimes tens of thousands less.  Only 8 of the 40 condos sold for their exact list price.  Turnberry Towers #3908 was listed for $899,900 and closed slightly higher at $900K after 57 days on the market.  It was the only condos sold above list price.

Over half of the condos sold, 21 to be exact, were purchased with cash.  14 of the condos sold with conventional financing.  There were 4 owner will carry purchases, all at Signature.  There was one 1031 exchange.

Top Sellers in September:  Signature at MGM Grand holds onto first place with 11 condos changing hands.  Allure was second place with 5 closings.  Trump was third place with 4 closings.

High Rise Price Trends:  We sold 6 luxury condos for more than $1M in September.  The top price paid was Waldorf Astoria #3208.  Listed for $3.5M, it sold for $3.2M after 91 days on the market.

The second highest price was Waldorf Astoria #2803.  Listed for $2.1M, it closed for $1.95M after 121 days on the market.

The third highest was also at Waldorf Astoria.  Unit 2603 was listed at $2,090,000 and sold for $1,925,000 after 79 days on the market.

Lowest Prices SOLD:  Trump took first and second place with unit 2820, which closed for $228K after 161 days on the market.  It was trailed by 3304 which closed at $255K after 78 days on the market.  Signature at MGM Tower 1 #403 was third.  Listed at $265,888, it closed for $260K after 24 days on the market.

Top Price Per Square Foot:  All three top price-per-square-foot condos sold were at Waldorf Astoria.  Unit 2803 closed at $1180/sf.  Unit 2603 closed at $1165/sf. Unit 3208  closed at $1100/sf.

Lowest Price Per Square Foot - ONE Las Vegas #612 sold for $2460/sf.  Allure #708 closed for $260/sf.  Also, at Allure, #3101 closed at $280/sf.

Las Vegas High Rise News - August 2022

Inventory in the Las Vegas High Rise market stayed stable last month. We had 386 condos for sale in our top high-rise buildings in early August. Today, we have 382 condos in those same buildings. It’s more than a 30% jump over the number of condos we had for sale last year.

We only sold 70 high-rise condos in our top buildings in August. That’s almost a 30% drop from the 106 condos we sold in the same towers in August 2022. It’s up slightly from the 65 that sold in July.

Out of the condos sold last month, 50 of the 70 closed for less than the list price. 17 closed at the exact list price, although this includes 3 developer units sold at Juhl. The developer units typically offer incentives like pre-paying the HOA rather than discounting their prices. Three of the condos sold above the list price. The penthouse at Waldorf Astoria #4107 was listed for $3.495M and sold for $3.935M with only 7 days on the market. Compare that to The Martin #4307, which was listed for $4.9M. It sold for $4.22M after 125 days on the market.

Rising Interest rates are credited for much of the slowdown in the housing market. 54% of the condos sold last month in the high-rise sector were purchased with cash—37% sold with a conventional mortgage. Buyers used various loans, including 3 that were “Owner Will Carry.” 2 sold as part of 1031 exchanges. 2 sold with VA mortgages, and a couple used private financing.

Top Sellers in August: Signature at MGM Grand reclaimed the number 1 spot for this category with 20 condos changing hands. It had tied with Juhl last month with 11 condos in each building changing hands. 

The second place was a three-way tie. Turnberry Towers, Juhl, and Trump had 6 closings each. Third place was Panorama Towers, with 5 condos that sold.

High Rise Price Trends: We sold 5 luxury condos for more than $1M in August, with 3 closing for more than $3M. The top price paid was The Martin #4307. Listed for $4.9M, it sold for $4.22M after 125 days on the market.  

The second highest was Waldorf Astoria #4701. This penthouse is on the coveted top floor of Waldorf Astoria. Penthouses start on the 40th floor. We seldom see condos on the top (47th) floor come on the market. This condo was listed for $3.495M and sold for $3.935M in 7 days.

The third highest was Turnberry Place Tower 4, #3302. Listed for $3.35M, it sold for $3M after 24 days on the market.

Lowest Closing Price: Trump #3416 was listed for $229K and closed for $215K after 81 days on the market. Signature at MGM, Tower 1 #518, was listed for $265K and sold for $255K after 78 days on the market. Trump 32504 was listed for $280K and sold for $260K after 314 days on the market.

Top Price Per Square Foot: The top prices were paid at Waldorf Astoria and Vdara. All three towers are located within the desirable CityCenter complex. Waldorf Astoria #4701 closed at $1,850.09/sf. Vdara 50014 closed at $1,347.07/sf. Waldorf Astoria #3107 closed at $1,200.25/sf.

Lowest Price Per Square Foot: Allure #201 was the lowest at $231.57/sf. Panorama Towers, Tower 2 #302, was the second lowest at $277.23/sf. Metropolis #1202 was third at $284.85/sf.

Las Vegas High Rise News - July 2022

The Las Vegas High Rise Market sees inventory edging up a bit. This month, we have 386 condos for sale in our top high-rise buildings. That slightly increased from 364 last month and 333 the month before. It jumps from the 291 luxury condos we had available last year.

We sold 65 condos in our top buildings in July. That’s a drop from 75 in June and a significant drop from 114 that we sold in July 2021.

The market continues to show signs of “softening." Of the 65 luxury condos sold in July, 49 closed below list price. Some only a few thousand below, others much more. Twelve closed for the list price. That includes 5 that sold at Juhl that were previously unsold. The on-site sales office doesn’t negotiate the price. They prefer to offer incentives like pre-paying HOA fees for some time. Four of the condos that sold closed a little above their list price.

Top Sellers in July: For 11 straight months, Signature at MGM held the top spot until last month when they tied with Juhl with 11 condos changing hands in both buildings. In July, Signature at MGM slid into second place with 10 condos trading hands. Palms Place took the top spot, with 11 condos sold in July. Third place was a tie between Panorama Towers and Allure, with 8 units sold in each property.

High-Rise Price Trends: We sold 6 luxury condos for more than $1M. Four of those closed for more than $2M. The top price paid was ONE Queensridge Place Tower 2, Unit 601. Listed for $3.1M, it sold for $3.1M with only 3 days on the market. Second Place was Park Towers #804. It was listed for $2.95M and sold for $2.6M after 126 days on the market.

Third place was ONE Queensridge Place Tower 2, #302. Listed for $2.55M, it sold for $2.412M after 92 days on the market. Waldorf Astoria #3806 made the final 4. Listed at $2.575M, it sold for $2.2M with only 17 days on the market.

Lowest Closing Prices: Trump #4119 was listed for $249K and sold for $235K was the lowest price. Juhl 808 was listed for $255K and closed for $253K. This one was a resale, not from the on-site sales office. Trump #2901 was listed for $275K and closed for $258K for the third lowest price in July.

Top Price Per Square Foot: Waldorf Astoria took first place with unit 3806 closing at $1313/sf. Vdara, also in CityCenter, was second at $782/sf. Signature at MGM Tower 1, #2917, was third place at $671/sf.

Lowest Price Per Square Foot: Lowest price per SF was Metropolis Unit 1504, which closed at $273/sf. The second lowest was Allure #2409 at $275/sf. The third was also at Allure, with #1802 closing at $293/sf., followed by Allure #1406 at $300/sf.

Las Vegas High Rise News - June 2022

The Las Vegas High Rise Market, like the rest of the market, is seeing more inventory available for buyers. Today we have 364 high-rise condos for sale in the top buildings we follow on this blog. That's up from 333 last month, 302 the month before, and 254 the month before that. It's up from the 333 we had available last year.

We sold 75 luxury high-rise condos in June. That's a sizable drop from 108 we sold in June 2021 and down from 82 condos sold in May of this year.

Prices continue to improve over the bottom of the market, but we're beginning to see some softening. Out of the 75 high-rise condos sold in June, 45 sold below the list price. Some were slightly below the list price, but several were substantially lower. Only 6 condos that changed hands last month sold above their list price. Only 24 of the 75 condos sold in June closed at their full list price.

Top Sellers in June: For the past 11 months, Signature at MGM held the top spot for the number of condos sold. In June, they tied with Juhl with 11 condos changing hands at both properties. The 11 condos sold at Juhl for their list price, but they were sold by the on-site sales office and might have had incentives.

Turnberry Place was in the second position, with 9 condos selling in their four towers. Panorama Towers was third, with 8 condos changing hands in those two towers.

High-Rise Price Trends: We sold 6 high-rise residences for more than $1M last month, down from 10 in May. Waldorf Astoria took the top two spots. Residence 4307 was listed at $3.499M and sold for $3.25M after 83 days on the market. Residence 3309 at Waldorf was listed for $2.795M and sold for $2.7M after 50 days on the market.

ONE Queensridge Place Tower 2 took third place. Unit 102 was listed for $2.58M and sold for $2.5M with only 2 days on the market.

Lowest Closing Prices: Trump took the two lowest price spots. Studio unit 2915 was listed for $2339,888 and sold for $222K after 83 days on the market. Studio unit 2024 was listed at $233,800 and sold for $229,500 after 133 days on the market. Palms Place Studio 1509 was listed for $269,900 and sold for the full list price of $269,900 with 49 days on the market.

Top Prices per Square Foot: All three of the highest prices per square foot in June were at CityCenter. The top two were at Waldorf Astoria. Penthouse 4307 closed at $1500/sf. Residence 3309 closed at $1289/sf. Across the driveway, Veer Towers West #3109 fetched $1030/sf.

Lowest Price per Square Foot: I've been tracking these stats on our high-rise market for several years. June was the first time we've had a month where only one condo sold for less than $300/sf. The lowest price per sf in June was ONE Las Vegas #417. It sold for $263/sf.

The second-lowest price per square foot was Panorama Towers #2, Unit 406. It closed at $307/sf. The third lowest was Turnberry Place Tower 4 #1103 at $317/sf.

Las Vegas High Rise News - May 2022

Las Vegas High Rise buyers see prices appreciate, but the number of condos for sale is also edging up. This month we have 333 condos for sale in the top high-rise buildings. That’s up from 302 last month and 254 the month before. It was lower than the 367 available at the same time in 2021..

We sold 88 condos in our top buildings in May. That’s a drop from 121 in April and 119 in March. But a few more than the 82 sold in May 2021. We continue to see at least a third of the high-rise condos selling for list price, with a ten percent selling for more than the list and about half selling below the list price.

Top Sellers in May: For the 11th month in a row, Signature at MGM was the top seller. In May, 14 condos changed hands in those three towers. Trump was second with 12 condos sold.

Third place was a 3-way tie between Juhl, The Ogden, and Turnberry Place, each recording seven closings.

High-Rise Price Trends: We sold 10 high-rise condos for $1M+ last month.  Top Price was Turnberry Place. Penthouse 3801 in Tower 3 was listed for $9.8M and sold for $6.5M. Second highesst was Waldorf Astoria #3704.  Listed for $3.45M it sold for $3.275M.  Third place was Trump Penthouse 6303.  It was listed for $2.6M and sold for $2.61M.

Lowest Closing Prices: All three of the lowest prices were studio units at Trump. #1823 was listed at $229,800 and sold for $227K. #1712 was listed for $229,888 and sold for $229,888. #3116 was listed for $239888 and sold for $230K.

Allure was close to the third place. Allure 32809 was listed for $250K and sold for $232K with only 7 days on the market. Those sellers must have been motivated.

Top Prices per square foot: Waldorf Astoria #3704 was highest at $1278/sf. It was followed by Vdara #53020 at $1109/sf. Turnberry Place #3807 was $792/sf, followed by Trump Penthouse 6303 at $781/s.f.

Lowest Prices Per Square Foot: Panorama Towers Building 2 #301 was the bargain in May at $224/sf. ONE Las Vegas #101 closed at $259/sf. Turnberry Place Tower 3 #206 closed at $263/sf.

Las Vegas High Rise News - April 2022

 

Buyers looking to purchase a high-rise condo see more inventory available today than last month. We currently have 302 high-rise condos in our top buildings. That’s up from 254 last month and 251 the month before. It’s a drop from 410 available at this time last year.

In April, 121 condos were sold in the same buildings, a slight increase over 119 in March. It’s slightly better than the 111 we sold in April 2021.

Out of the 121 sold in April, 36% sold for the exact list price. 14% sold for more than the list price. Some of these were just barely over the list.  Allure #3105 closed for $232 above the $390K list price. 

Over half, 56%, sold for less than the list price. The ones that sold for less were usually still reasonably close to the list price. Only a few sold for more than $10K below the list price.

Top Sellers in April: For the 10th month in a row, Signature at MGM was the top seller, with 18 condos in those three towers changing hands. Veer Towers was second, with 14 condos changing hands in those two towers. The third place was Juhl, with 13 condos changing hands. 

High Rise Price Trends: We sold 14 high-rise condos for $1M+ in April. Four of those sold for more than $2M. The top price was Waldorf Astoria #3405, which closed for $4.35M after 202 days on the market. It was listed for $4.795M when it went into the contract but was originally listed for $4.995M.

The second-highest price was also Waldorf Astoria. Unit 2908 was listed for $3.85M and sold for $3.675M after 210 days on the market. The third highest price was ONE Queensridge Place Tower 2 #605. Listed for $2.275M, it sold for $2.275M after 171 days on the market.

Lowest Closing Prices; Trump #2702 was the lowest price. The studio was listed for $239,500 and sold for $239,500 after 6 days on the market.

Allure #2009 was second. It was listed for $236K but sold for $241K after 7 days on the market. Trump had the third-lowest price with #2127. The studio was listed for $249,988 and sold for $245K after 12 days on the market.

Highest price per square foot: All three of the top prices per square foot were at Waldorf Astoria. The top price was #3405 at $1451/sf. It was followed by #2908 at $1263/sf. The third-highest price per square foot was #3207 at $1147. Waldorf Astoria has established itself as the tower that commands the highest prices per square foot.

Lowest Prices Per Square Foot: Allure saw the lowest price per square foot with #805 at $243/sf, followed by #1004 at $272/sf. The third-lowest price per sf was ONE Las Vegas #1517 at $279/sf.

Las Vegas High Rise News - March 2022

Ready to buy your home in the sky above the Las Vegas Strip? Today we find 254 options in our top high-rise buildings—slightly more than 251 last month but a drop from 425 options this time last year.

In March, we sold 119 condos in our top buildings. That’s up from 85 last month, 73 in January. It’s a nice jump from the 95 condos sold in March 2021.

Top Sellers in March: Signature at MGM took the lead for the 9th month when they’ve held number one spots. This time with 16 units sold in the three MGM Signature Towers.

Second place is a tie between Juhl and Palms Place, with 11 units closing in each community.

The third place was Turnberry Place, with 10 condos sold.

High Rise Price Trends: We sold 3 high-rise condos priced at $1m+ in March. All three of the top sellers are at Waldorf Astoria. Penthouse 2402 was listed for $2.89M and sold for $2.75M. Penthouse 3109 was listed for $2.69M and sold for $2.6M. Residence 3607 was listed for $1.85M and sold for $1.85M with zero days on the market.

Lowest Closing Prices: Palms Place #24319 takes first place. It was listed for $205K; it sold for $215K after only 5 days on the market. Second place was Trump #38014. Listed for $249,900, it sold for $239,899 after 42 days on the market. Third place was Juhl #371. It was listed for $230K it sold for $240K after 8 days on the market.

Highest price per square foot: two of the top three prices/square foot were at Waldorf Astoria; however, a unit at Trump topped Waldorf. Trump 4308 closed for $1639/sf. Waldorf 3109 sold for $1242/sf. Waldorf 3607 closed at $1169/sf.

Lowest Prices Per Square Foot: All three of the lowest prices per square foot were at Allure. #201 came in at $218/sf. #905 fetched $272/sf. #2503 was only $280/sf.

Las Vegas High Rise News - February 2022

Are you looking to buy a high-rise condo in Las Vegas? Today you have 251 options available in our top buildings. That’s slightly less than 264 last month but a significant drop from 474 condos for sale this time last year.

In February, we sold 85 condos in those same towers, up from 73 in January. It’s slightly improved over the next 78 we sold in February 2021.

Top Sellers in February: Signature at MGM has held on to the title of most units sold for the 8th month. Closing prices ranged from $270K for an 11th-floor studio to $$629K. The $629K price was for a combo of a 1-bedroom and the adjacent studio (1394 sf) on the 22nd floor. A total of 14 condos changed hands in these three towers in February.

The second most active in sales volume was Juhl, with 13 closings. Prices ranged from $249,900 for a 687 sf 1-bedroom on the 2nd floor to $1.125M for a 2088 sf penthouse on the 14th floor.

The third most active was a tie. Palms Place and Veer Towers each sold 9 condos in February. Prices at Palms ranged from $230K for a 16th-floor studio to $260K for a 25th floor 1-bedroom. Prices at Veer Towers rated from $506K for an 825 sf 1-bedroom on the 16th floor to $1.225M for a 1454 sf 2-bedroom condo on the 30th floor.

Trump only trailed slightly behind with 8 condos sold. Prices ranged from $234K for a studio on the 16th floor to $475K for a 1-bedroom with 910 sf on the 43rd floor.

High Rise Price Trends: We sold 7 high-rise condos priced at $1M+. The highest price was Turnberry Place Tower 3, #3101, which was listed for $4.499M and closed for $4.395M. The second-highest price was Waldorf Astoria #2407. Listed for $2.395M, it sold for $2,25M. The third highest price was Panorama Towers Bldg 2, #2407. Listed for $1.39M, it sold for $1.31M.

Lowest Prices in February - Lowest price was Palms Place #1619, which was listed for $229K and sold for $230K. Trump came in second and third. Unit 1604 was listed for $244,900 and sold for $234K. Trump #3217 was listed for $249,888 and sold for $235K.

In February, highest Price Per Square Foot: The top 3 were all in the CityCenter complex. Vdara #38026 sold for $1117.27/sf. Vdara is a condotel and all units are sold furnished. Waldorf Astoria took the second and third spots. Waldorf #2407 closed at $1074.50/sf and #3510 closed at $995.48/sf.

In February, the lowest price per Square Foot: Metropolis #1704 closed at $260.57/sf. The second-lowest was ONE Las Vegas #1508 at $263.16/sf. The third lowest was SOHO Lofts #801 at $281.71/sf.

Las Vegas High Rise News - January 2022

Las Vegas High Rise buyers have a slight uptick in available inventory as of today. We currently have 264 condos for sale in our top buildings, compared to last month when we only had 237. Of course, that’s lower than when we did our update in December, and there were 303. This time in 2021, we had 551 condos available in our top high-rise buildings.

 73 high-rise condos SOLD in those buildings in January. That’s down from 89 in December but up from 51 condos sold in January 2021. It is a drop from the last couple of months, but it’s typical early year. Things start picking up in the high-rise market with Super Bowl weekend and conventions after the holidays.

Top Sellers in January: Signature at MGM held the top spot for the 7th month with 9 condos sold. That’s a dip for this community from the 18 they had last month, but typical for the season. Juhl tied MGM with 9 condos sold in that building for the month. 

Second place was Panorama Towers, with 8 condos sold. Trump was in 3rd place with 7 closings.  

High Rise Price Trends: We sold 8 high-rise condos for more than $1M in January. Two of those were priced over $2M. All three of the top prices were at Waldorf Astoria #2605 was listed for $4.5M and closed for $4.1M after 52 days on the market.

Waldorf Astoria #3309 was listed for $2.7M and closed for $2.35M with only 2 days on the market. Waldorf Astoria 2707 was listed for $1.8M and closed for $1.75M after 151 days on the market. 

Lowest Prices in January - Lowest price was Juhl #215. Listed for $225K, it sold for $225K after 117 days on the market. The second was Palms Place #908. Listed for $250K, it sold for $238K after 26 days on the market. The third lowest price was Trump 3709. It was listed for $254,500, the studio condo sold for $250K after 70 days on the market.

Highest Prices Per Square Foot in January: All three of the highest square foot prices were at Waldorf Astoria. Condo 2605 with awesome North Strip views closed at $1368/sf. Residence 3309 closed at $1122/sf. Residence 2606 coxed at $1106/sf. Waldorf Astoria is, without question, the luxury high-rise that commands the highest price per square foot in town.

Lowest Prices Per Square Foot: First two spots were at ONE Las Vegas, where #504 closed for $190/sf. It was followed by #121, which closed at $248/sf. The third place was SOHO Lofts #903, which closed for $251/sf.

Las Vegas High Rise News - December 2021

Are you dreaming of living in a condo above the Las Vegas Strip? We continue to see low inventory in our top buildings. Today, we have 237 condos on the market, the same as last month but lower than the 303 the month before. This time in 2021, we had 505 high-rise condos for sale.

We sold 89 condos in our top high-rise buildings in December. That was a drop from 103 in November but better than the 51 we sold in December 2020. Sales in December tend to be a little slow, especially in the high-rise market where most buyers are coming from out of State.

Top sellers in December: Signature at MGM had the highest sales volume, with 18 units sold.  That makes the six month they've held on to the first place. The second-highest number of closings was Panorama Towers, with 10 condos sold. The third place was ONE Las Vegas, with 9 closings. Trump & Palm’s Place tied for fourth place with 8 units sold in each building.

High Rise Price Trends: We only sold 4 condos for $1M+ in December. The top price paid was Turnberry Place Tower 3 Unit 3004. Listed for $2.25M, it sold for $1.92M with 31 days on the market.

The second was Veer Towers East #2701. Listed for $1,999,980, it sold for $1.9M with only 6 days on the market. The third higher was also Veer Towers East #year 1007. Listed for $1.595M, it sold for $1.515M. It was only the market for 399 days. It started at a much higher price, though. 

Lowest Prices in December: The two lowest prices were both at Trump. Unit 3701 sold for $205K, and unit 2224 sold for $222K. The third lowest was Palms Place, where unit 19305 sold for $227,500. All three of these bargain prices were studio units in condotel buildings that allow for short-term rentals.

Highest Price Per Square Foot: Again, the highest prices per square foot were in the two CityCenter high-rise buildings. Veer Towers East, #2701 closed at $907.79/sf. Waldorf Astoria #3211 closed at $877.03/sf. Veer Towers East #2308 closed at $816.83/sf.

Las Vegas High Rise News - November 2021

In the market for a high-rise condo on the Las Vegas Strip? It would be best if you bought sooner rather than later because the high-rise market seems to have caught on fire and prices are going up. Today we found 237 condos in our top high-rise buildings, a drop from 281 last month, 303 the month before, and 551 at this time last year.

We sold 103 condos in our top high-rise buildings in November. Up from 82 in October and 80 in September. It’s more than double the 41 we sold in November 2020.

Top sellers in November: Signature at MGM held onto the top position for the fifth month in a row, with 15 condos sold in November. An interesting little side fact - I remember the bottom of the market when you could pick up studios there for $150k or so and even one-bedroom condos in the $200s. There are only two condos listed at Signature for less than $300K today. They’re studios at $290K and $295K. A “Coming Soon Listing” unit 518 for $278K. I’m guessing that one will get multiple offers, which will drive up the price.

Second place was JUHL in Downtown Las Vegas, with 10 condos changing hands. Third place was a tie between Allure and Turnberry Towers, with 8 closings at each property.

High Rise price trends: We sold 12 luxury condos for $1M+. The top price paid was ONE Queensridge Place Tower 2, #1604. Listed for $5.250M, it sold for $5.250M with 92 days on the market. Waldorf Astoria took second place with unit 4201, which was listed for $3.39M and sold for $3M after 75 days on the market. The third place was back to ONE Queensridge Tower 1, #1202. Listed for $2.55M, it sold for $2.55M with only 5 days on the market.

Lowest Prices: Allure 2709 was listed for $210K and sold for $215K after 173 days on the market. The second-lowest was Palms Place #18305. It was listed for $216K it sold for $220K. The third lowest was Allure #209. Listed at $229,500 it sold for $223,900.

Highest Price Per Square Foot: All three were at Waldorf Astoria. Penthouse 4201 closed at $1411/sf. Unit 3004 closed at $985/sf. Unit 2609 loses at $955/sf. Waldorf Astoria has established itself as the building that can get the highest price per square foot out of all our high-rise buildings.

Lowest Price Per Square Foot: Allure retakes the prize for the lowest price per square foot. Unit 209 closed for $221/sf. SOHO Lofts came in second at $239/sf. The third place was back to Allure and unit 505, which closed for $245/sf.

Las Vegas High Rise News - October 2021

Ready to buy a high-rise condo in Las Vegas? Options in this market are on the decline. We have 281 condos in our top buildings listed for sale. That’s down from 303 last month, 295 the month before and 291 the month before that. It’s a big drop from the 592 that were available this time last year.

In October, we sold 82 condos in the top buildings, up from 80 in September but pretty steady. It’s a nice improvement over the 43 we sold in October 2020. The high-rise market has edged into favoring sellers. The number of condos available would only last 3.4 months if no new condos came on the market, and less than six months’ supply is considered a seller’s market.

Top Sellers in October: Signature at MGM held on to this title for the fourth month in a row, with 17 condos changing hands in October. Allure was second, with 9 closings in October, and Veer Towers took third place with 7 units sold in October.

Four buildings tied for fourth place with 6 closings in each. Juhl, ONE Las Vegas, Turnberry Place, and Turnberry Towers all tied for 4th place.

High-Rise Price Trends: We sold 8 luxury condos for $1M+ in October, up from 7 in September. 3 of them closed above $2M. The highest price was Waldorf Astoria #3108. This 2910 sf residence was listed for $3.995M and sold for $3.8M after 215 days on the market. The 08 stack has North Strip views, and this plan featured 2 separate bedrooms with baths en suite.

Waldorf Astoria #2508 was listed for $3.95M and sold for $3.75M after 132 days on the market. This was the same 2910 sf plan as #3108 with North Strip views.

ONE Queensridge Place #410 was third. It was listed for $2.649M and sold for $2.46M after 127 days on the market. This residence offered 4 bedrooms, 6 baths, in 4827 sf.

Lowest prices: Palms Place #25303 was listed for $210K and sold for $213K with only 9 days on the market. It was a studio with 615 sf. The second-lowest was Juhl #253. Listed for $219,900, it sold for full list price with 16 days on the market. It was a 587 sf studio. Third place was Trump #2814. Listed for $230K, it sold for $220,800 after 144 days on the market. It was a 533 sf studio.  

Highest Price Per Square Foot: At Waldorf Astoria, all three of the top prices per square foot. Residence 3108 closed at $1306/sf., #2508 closed at $1289/sf, and #2405 closed at $1106/sf.

Lowest prices per square foot: The days of buying a high-rise condo for less than $200/sf seem to have ended. In October, the lowest price per square foot was ONE Las Vegas #315 that closed for $244/sf. The second-lowest was Turnberry Place Tower 4, #203, at $251/sf. The third was ONE Las Vegas #1416 at $254/sf.

Las Vegas High Rise News - September 2021

Are you dreaming of having a luxury high-rise condo in Las Vegas? We currently have 303 options for sale in our top high-rise buildings. That’s a slight increase from last month when we had 295 and the month before when we had 291. It’s a big drop from 578 condos that were for sale this time last year.

We sold 80 condos in our top buildings in September. That’s a drop from 106 that sold in August, and it’s not quite double the 48 we sold in September 2020 or the 49 sold in September 2019. Our seller’s market is giving the high-rise market a needed boost.

Top Sellers in September: Signature at MGM had the highest number of closings again. Fifteen condos changed hands at Signature in September, and that’s down from 17 in August, 18 in July, and 17 in June. For four months, Signature has been the top seller.

Second place was Panorama Towers, with 10 homes changing hands. Turnberry Towers recorded 8 closings for third place.

High Rise Price Trends: We sold 7 luxury condos for $1M+ in September. The top 3 prices were over $2M. The highest price was The Martin, penthouse 4300. Listed for $3.75M, it sold for $3.75M with only 2 days on the market.

The second highest was Turnberry Place Tower 2 #2904. This one was listed for $3.1M and sold for $2.8M after 263 days on the market. The third place was Park Towers #1702. Listed for $2.75M, it sold for $2.675M after 163 days on the market.

Lowest prices: While the high-rise market is strengthening, buyers are still finding some bargains. The lowest price for a high-rise condo in September was Trump 2820 and listed for $219K, it sold for $207K after 94 days on the market. 

The second-lowest was Metropolis #501. This one-bedroom condo was listed for $239,900 and sold for $220K after 10 days on the market. Trump #1614 was the third lowest. Listed for $225K, it sold for $220K after 102 days on the market.

Highest Price Per Square Foot: Waldorf Astoria only had one closing in September. A one-bedroom, #3801, closed at $1084/sf. The second and third highest prices per square foot were also in CityCenter at Vdara. Unit is 41028 closed for $949/sf Unit 25019 closed at $835/sf. Again, the CityCenter high-rise condos have established themselves as the leader in our high-rise buildings.

Lowest Price Per Square Foot: Lowest price per square foot for a high-rise in September was at ONE Las Vegas, and unit 612 closed for an incredible $193/sf. Second place was also at ONE LV, with unit 1112 closing for $219/sf. Third place as Allure #2505, which sold for $239/sf.

Las Vegas High Rise News - August 2021

In the market to buy a Las Vegas High Rise condo? You have 295 options available, up slightly from the 291 last month. That’s a massive drop from the 577 condos that were available this time last year.

We sold 106 high-rise condos in August. Again, a slight drop from July but a big jump from the 32 we sold last August.

Top Sellers in August - Top seller was Signature at MGM, with 17 condos changing hands. Second place was JUHL, with 13 closings. Third place was a tie between Turnberry Towers and ONE Las Vegas, with 11 closings in each building.

High Rise Price Trends - We sold 9 luxury high-rise condos for $1Million plus. The highest price was at Park Towers, where Penthouse 1901 was listed for $6.999M and closed for $5.5M. It was followed by two residences at Waldorf Astoria. Unit 3107 and 2603 were both listed for $1.95M, and both sold for $1.48M. ONE Las Vegas broke into the $1M+ price with unit 2022. Listed for $1.299M, it sold for list price.

Lowest Price - The lost price paid for a high-rise condo was Signature at MGM. Tower 2, unit 3604, was listed for $150K and closed for $190K. Juhl #527 was second-lowest. Listed at $201,900, it sold for $199,500. Juhl took third place for the third-lowest price with unit 255. Listed at $199,999, it sold for the list price.

Highest Price Per Square Foot - CityCenter took the three highest price per square foot spots in August. First was Vdara #56020 at $1010/sf. The second was Waldorf Astoria #3107 at $935/sf. The third was Waldorf Astoria #2603 at $896/sf.

Las Vegas High Rise News - July 2021

Looking to buy a high-rise condo in Las Vegas? Your options are becoming more limited as the housing market continues to be strong. Today, we only have 291 condos available in our best high-rise buildings. It’s the first time we have less than 300 condos listed in those same buildings in many years. It’s a drop from 333 last month and 367 the month before. It’s a big drop from the 548 we had this time last year.

We sold 114 high-rise condos in July. That’s up from 43 in July 2020. In all fairness, our market was beginning to show activity after the shutdowns had started last July. It’s a slight increase over the 108 sold in June.

Top Sellers in July - Signature at MGM retook the lead this month with 18 condos sold. Turnberry Place, with 15 closings, followed it. The third was Trump, with 11 condos sold. Turnberry Towers was 4th with 10 closings. Juhl was 5th with 9 closings. There were eight transactions at Panorama Towers. ONE Queensridge and SKY had seven each.

High Rise Price Trends - We sold 12 high-rise condos for $1 Million or more. Four sold for more than $2M. The top price paid this month was Waldorf Astoria 3305. Listed for $4.3M, it sold for $4.085M after 51 days on the market.

ONE Queensridge Tower 2 #1501 came in second. Listed for $4.299M, it sold for $4M after 290 days on the market. The third highest was also ONE Queensridge Tower 2. Unit 1001 was listed for $2.699M and sold for $2.6M. It was trailed by Turnberry Place Tower 3 #3503. Listed for $2.249M, it sold for $2.149M after 233 days on the market.

Lowest Prices - Lowest prices for July were all condotel. Palms Place set the bar with unit 2109. It was listed for $215K, and it sold for $205K after 60 days on the market. Trump was second with unit 1628; it was listed for $229K and sold for $219,500 with only 5 days on the market. The Signature at MGM Tower 3, #316, was listed for $224,88 and sold for 4220K after 22 days. It was tied by Trump 4223. Listed at $220K, it sold for $220K after 77 days on the market.

Highest Price Per Square Foot - Waldorf Astoria continues to command the highest price per square foot. Penthouse 3305 closed at $1363/sf. Second place was Vdara 23030 at $835/sf. It sold for $835/sf. The third and fourth place were at Veers Towers. Unit 902 closed at $785/sf and unit 2202 at $780/sf. The Citycenter properties have established themselves as the highest price per square foot in town.

Lowest Price Per Square Foot - Lowest price per square foot this month was at Turnberry Place Tower 4, Unit 404, closed at $246/sf. The second-lowest was Allure 3510 at $261/sf. It was followed by Allure 701 at $262/sf.

Las Vegas High Rise News - June 2021

Are you looking for a High Rise Condo in Las Vegas? Today, you have 333 condos available in the top buildings we follow for our monthly updates. We see a steady decline in inventory in our high-rise buildings. We had 367 last month, 410 the month before, and 415 the month before that. It's a big drop from the 493 listings in June 2020.

We sold 108 luxury high-rise condos in June. That's up from 82 in May but down slightly from 111 in April. It's a massive jump from the 33 condos we sold in June 2020 when we were beginning to recover from the shutdowns.

Top Sellers in June: The Signature at MGM had 17 condos that closed. Palms Place was second with 13 closings. Turnberry Towers was third with 12 closings, followed by Turnberry Place with 9 closings for fourth place.

Las Vegas High Rise Prices - We sold 6 high-rise condos for $1M+. The top price paid was an incredible $16,250,000. Yes, you read that correctly. Penthouse 4500 at The Martin, with a list price of $18M, had been on the market for 213 days. It closed escrow on 6/2/21. This 12,940 sf penthouse is a one-of-a-kind residence with incredible 360-degree views of the entire valley, from Allegiant Stadium to Downtown LV. 

ONE Queensridge, Tower 1 #302 was the second-highest. Listed at $2,345,000 it closed for $2,317,000 after 78 days on the market. The third highest was also ONE Queensridge Place Tower 2 #1202. Listed for $2.4M, it closed for $2.3M after 189 days on the market. Waldorf Astoria came in 4th with Residence 3903. Listed at $1.995M, it closed for $1.95M after 6 days on the market.

Lowest Prices - Three high-rise condos closed for $200K or less. All three were studio condos at Palms Place. Unit 1505 was listed for $184,900 and sold for $180K after 105 days on the market. Unit 1605 was listed for $184,900 and sold for $182,000 after 1 day on the market. Unit 1919 was listed for $205K and sold for $200K after 63 days on the market.

Highest Price Per Square Foot - The Martin penthouse 4500 was the highest price per square foot at $1256. It was followed by Waldorf Astoria 3903 at $1180/sf and Waldorf Astoria 3102 for $904/sf.

Lowest Price Per Square Foot - Lowest price per square foot in June was Panorama Towers, Bldg 2 #300 at $192/sf. The second lowest was Turnberry Place Tower 4 #303 at $228/sf. The third lowest was ONE Las Vegas 601 at $235/sf.

Las Vegas High Rise News - May 2021

Las Vegas Home Buyers who are open to the high-rise lifestyle have 367 options in our top buildings. That’s down from 410 last month and 415 the month before. It’s a big drop from the 473 condos available when I updated this post in May 2020.

We sold 82 condos in our top buildings in May. That’s a drop from 111 in April and 95 in March. It beats the 78 sold in February of this year. It’s a jump from May 2020, when we only sold 24 condos in these buildings as the shutdowns started to affect the high-rise market. The slowest month during the pandemic was April 2020, with only 19 condos sold in the top towers.

Top Sellers in May - Turnberry Place took the prize last month with nine condos changing hands in their four towers. Turnberry Towers was second with eight closings.

Third place was a three-way tie. Signature at MGM, Palms Place, and Juhl all had seven closings in each tower. Our other buildings all had activity except Metropolis, Park Towers and Vdara. The highest sellers don't judge how popular or pleasant the facilities are so much as their availability. For example, SOHO Lofts and Newport Lofts each had four closings during the month. At the moment, there are no condos for sale in either building. So unless something comes on the market and gets snapped up for a quick close, they won’t have any activity this month.

Las Vegas High-Rise Prices - We sold eight luxury condos for $1M+ in May, down from 17 in April.

The highest price was Waldorf Astoria unit 3805. Listed for $4.0M, it sold for $3.925M after 64 days on the market. Second place was ONE Queensridge Tower 2 unit 1502. Listed for $4.2M, it sold for $3.9M. Third place was Veer Towers East, Unit 3601. This one was listed for $2.9M and sold for $2.9M. According to the MLS it was only listed for 118 days, however, I showed it to a client early last year before the pandemic started so that number only reflects the current listing.

Lowest Prices - The lowest price paid for a high-rise condo was unit 709 at Allure. The 662 sf, 1 bedroom, 1 bath condo was listed at $188,500 and sold for $182K after 35 days on the market. The second-lowest price was Trump #1809. Listed for $189,900, it closed a bit higher at $192,500 after 146 days on the market. The third lowest was Palms Place #24318. Listed for $199,900, it sold for $193K after only 19 days on the market.

Highest Price Per Square Foot - All three highest prices per square foot were at Waldorf Astoria. The highest price per square foot was #3610, which closed at $1511. Unit 2911 was close behind at $1510/sf. Unit 3805 closed at $1309/sf. The fourth place was at Veer Towers West (also in CityCenter) where unit 3601 closed at $1155/sf.

Lowest Price Per Square Foot in May - Panorama Towers unit 307 closed at $178/sf.  It was followed by Turnberry Place Tower 3 #601 at $235/sf.  Third lowest was Allure #606 at $247/sf.

Las Vegas High Rise News - April 2021

Las Vegas High Rise buyers only have around 410 options to choose from at the moment. That sounds like a lot until you hear how many we sold last night. It’s down from 425 last month and 467 in April 2020 when we first started the pandemic shutdowns.

We sold 111 high-rise condos in the top buildings we follow here for this report. No, we don’t follow buildings built before 2000 and mid-rise or any buildings under ten floors.

In those top buildings, we only sold 19 in April 2020. The drop in sales was in large part due to the Covid shutdown. Sales in the high-rise sector of our market remained sluggish throughout most of 2020. It picked up later in the year, and each month we’re seeing an increase in sales now that things are opening up again.

We sold 95 in March and 78 in February of this year. Last month’s 111 closings are the highest number of high-rise sales in a month since the peak of high-rise mania before the market crashed.

Top Sellers in April - Signature at MGM was the most active high-rise property with 19 closings in April. Second place was Allure, with 12 closings. Third place was a tie between Trump and Turnberry Place, with 11 closings in each property. Signature at MGM and Trump are both condoles. The volume of activity in those buildings signals that investors are betting Las Vegas is going to have a good recovery.

Las Vegas High Rise Prices - In March, we sold nine luxury high-rise condos for $1M+. In April, we sold 17. That’s amazing.

The most expensive high-rise condo sold in April was at SKY, where penthouse 4302 was listed for $4.5M and sold for $4.35M after 84 days on the market. Second place was Waldorf Astoria Penthouse 4202, which was listed for $3.95M and sold for $3.8M after 94 days on the market. The third was The Martin, penthouse 4407. Listed for $4.1M, it sold for $3.65M after 191 days on the market.

Lowest Prices - We topped March by selling eight high-rise condos for $200K or less in April. In March, we only sold 7 for less than $200K.

Three lowest prices - all three were at Trump. Studio units 2109, 3719, and 2815 all sold for $185K. The other lowest prices were at Trump except one unit at Signature at MGM. Unit 2718 in Tower 2 at Signature was listed for $199,900 and sold for $195K after 176 days on the market.

Highest Price Per Square Foot - We sold four high-rise residences for more than $1000 per square foot. All four were at Waldorf Astoria, arguably, the most distinguished high-rise building in Las Vegas.

The highest price was Waldorf Astoria #4619. Listed for $2M, it sold for $1.725M after nine days on the market and $1853/sf. Waldorf Astoria #4202 closed for $1691/sf. Waldorf Astoria #2503 closed for $1332/sf and #3608 closed for $1031/sf. Waldorf Astoria consistently fetches the highest price per square foot of our high-rise buildings.

Lowest Price Per Square Foot - Three high-rise condos sold for less than $225/sf. Allure unit 2409 was the lowest at $193/sf. Also, at Allure, unit 1811 closed at $220/sf. Turnberry Place Tower 3 unit 904 closed at $224/sf.

Las Vegas High Rise News - March 2021

Las Vegas High Rise condo buyers have 425 options available in our best building. That’s down from 474 last month and up slightly from the 400 available this time last year.

We sold 95 condos in our top buildings last month. That’s up from 78 in February and 46 condos in March 2020. The 95 is a record since the pandemic and probably even before. It’s almost double the 52 we sold in February 2020, before the pandemic/shutdowns started.

Top Sellers in March - Turnberry Place stole the first place spot with 15 condos changing hands during the month. Second place was Signature at MGM with 11 transactions.

Third place was a tie between Turnberry Towers, The Martin, and Trump, with eight closings in each building. They edged out the 4th place tie between Palms Place and Panorama Towers, with seven closings in those two communities.

Las Vegas High Rise Prices - Seven of the luxury condos sold last month closed for more than $1M and two for more than $3M.

The most expensive condo sold was ONE Queensridge Place Tower 1, #201. Listed at $4.6M, it sold for $3.8M after 160 days on the market. Second place was Waldorf Astoria unit 3205. Listed for $3.995M, it sold for $3.5M after 139 days on the market. Third place was also Waldorf Astoria #3103. Listed at $1.995M, it sold for $1.85M after 158 days on the market.

Lowest prices - We had an incredible seven condos that sold for $200K or less. All seven were condotel properties, with 6 in Trump and one at Signature at MGM.

Three lowest prices - Trump #1623 was listed for $205,888 and sold for $160K after 28 days on the market. Trump #4017 was listed for $187,500 and sold for $187,000 after 126 days on the market. Trump #2708 was listed for $225K and sold for $195K after 161 days on the market.

The disparity between list price and closing price indicates that the high vacancy rate has hurt the condotel owners during the pandemic.

Highest price per square foot - All three of the highest prices were at Waldorf Astoria. The top price per sf was unit 3205 at $1167/sf. Unit 3103 was just under at $1165/sf. Third place was unit one 3710 at $882/sf. This building gets the highest price per sf of our high-rise buildings.

Lowest price per square foot - Allure #501 sold for $174/sf. Allure #3111 sold for $211/sf. Turnberry Place Tower 3 closed at $217/sf.

Las Vegas High Rise News - February 2021

Buyers who want to own a Las Vegas High Rise condo only have 474 options in our top buildings today.  That’s a drop from 551 last month, still more than the 400 high-rise condos for sale this time last year.

We sold 78 high-rise condos in February.  Up from 51 in January and 52 in February 2020.  

Top Sellers in February - We saw activity in most of our top buildings.  Only Metropolis didn’t see any condos change hands.  First place was a tie between Signature at MGM and Trump with 9 closings in each building.  

Second place was a tie between Turnberry Towers and Panorama Towers.  Third place was a tie between Waldorf Astoria and Turnberry Place with 6 closings each.  However, the total dollar amount paid for the 6 closings at Waldorf totaled $14,400,000.  That makes Waldorf Astoria arguably the top seller.

Las Vegas High Rise Prices - 9 luxury condos sold for $1 Million plus.  Four of those were priced between $1-2M, three between $2-3 M, and two were over $3M.  The top price was Waldorf Astoria #3908, listed at $4.5M and sold for $4.2M with only 11 days on the market.  Numbers 2 and 3 were also at Waldorf Astoria.  Residence 3505 was listed for $3.75M and sold for $3.7M with 133 days on the market.  Penthouse 4004 was listed for $2.795M and sold for $2.7M after 78 days on the market.  Waldorf Astoria has established itself as the top high-rise tower in town based on the prices it fetches.

Lowest Prices - we saw ten luxury condos close for $200K or less.  The majority of them were at Trump with one at Signature at MGM and one at JUHLTrump and Signature are both condoles which allow short-term rentals.  Owners in the condotel properties have been hit as tourism has slowed down.

The lowest price was Trump 1620.  Listed for $185K, the studio unit closed for $165k after 75 days on the market.  Signature Tower 2, #1109, was the second-lowest.  Listed for $199,888 it closed for $184K after 60 days on the market.  The third was back to Trump with unit 1808.  Listed for $195K, it sold for $185K after 182 days on the market.

Highest Price Per Square Foot - It isn’t a surprise that the top prices per square foot were at Waldorf Astoria.  Residence 3908 was the top price per sf at $1443.  3505 closed at $1234/sf.  #2404 closed at $1134/sf.  Surprisingly, the only true penthouse at Waldorf Astoria, #4004, was fourth at $1053.  Floors 40 and above in that building are the penthouse levels with taller ceilings.  Veer Towers #711, also in CityCenter, came in at $946/sf.  A studio at Vdara Condotel, also in CityCenter, closed at $903/sf.

Lowest Price Per Square Foot - Allure and Turnberry Place had the lowest prices per sf.  Allure #1011 closed for $197/sf.  Allure #2307 closed at $232/sf, and in the agent’s remarks it noted the condition was “fair”.  Turnberry Place Tower 3 #1006, closed at $397/sf.

SOLD in February 2021:

Las Vegas High Rise News - January 2021

Las Vegas buyers have 505 luxury high rise condos available at the moment.  That’s a drop from 551 last month.  Still, more than 412 listing a year ago.  Another sign that the high rise market is continuing to recover from the pandemic travel restrictions.

We sold 51 luxury high rise condos in January.  Down from 69 in December and up from 49 in January 2020.  

Top Sellers in January - Signature at MGM had the most closings with 6 condos changing hands.  Second place was a three-way tie with Turnberry Place, Trump, and SKY all closing 5 condos.  Third place was The Martin with 4 closings.

Las Vegas High Rise Prices - 3 high rise condos sold for $1 Million or more.  Panorama Towers #3300 was listed for $3.4M and sold for $3M.  It offered 4820 sf with 3 bedrooms, 4 baths, and spectacular views.  It closed on 1/6/21 after 60 days on the market.

Sky Las Vegas was second with unit 4203.  It was listed for $1.888M and sold for $1.5M after 10 days on the market.  This home in the sky featured 3 bedrooms, 4 baths in 2996 sf.

Turnberry Place Tower 2, #2603 was third.  The 4007 sf home featured 3 bedrooms, 5 baths and was on the market for 161 days.

Lowest Prices - All three of the lowest closing prices were at Trump.  They were all 533 sf studios.  Unit 4016 was the lowest price at $160K.  It had been listed 160 days when it closed.

Unit 3404 was second-lowest.  Listed at $220K, it closed at $190K after 166 days on the market.  Unit 3401 was third.  Listed at $215K, it closed at $200K after 85 days on the market.

Highest Prices Per Square Foot - Highest price per sf was Unit 2008 at Veer Towers East.  It closed for $632.42/sf after 75 days on the market.  Second place was Veer Towers East Unit 1705.  It closed at $630.24/sf after 124 days on the market.  Third place was Panorama Towers, unit 3300.  The most expensive condo sold in January and closed at $622.41/sf after 60 days on the market.

Lowest Price Per Square Foot - While Trump may have had the three lowest closing prices, it didn’t show up in the lowest price per square foot top three.  The lowest price once again was Allure unit 808 at $210.61.  A close second was Metropolis #509 at $210.66.  And third place was Turnberry Place Tower 3 #1806 at $236.57.  The Turnberry Place was signed as a “Contract of Sale”.  Perhaps the seller is making enough of a profit on the interest to balance out the low price per square foot.  

Why does the price per square foot matter in a high rise?  During the “high rise mania” of the mid-2000s, many developers did presentations for their projects here in Las Vegas.  I attended many of them.  The developers always talked about how high rise was more expensive to build than a traditional condo.

Why?  High rise condos required more cement, steel, and windows.  Plus, you needed more skilled labor to build them.  At one presentation the Australian developer behind the proposed Ivana, which fortunately never broke ground, made a grandiose prediction about how the comps for Las Vegas high rise would compare to Hong Kong and New York.  He didn’t feel a luxury high rise could be built for less than $1000/sf.

The developer for ONE Las Vegas admitted that their under-construction first two towers were coming in at $500/sf.  When you look at the prices high rise condos are selling for, you have to realize you can buy them for less than it cost to build them in most cases.  And you can buy them for less than you can replace them with inflated prices for materials and labor.

Las Vegas High Rise News - December 2020

Las Vegas buyers have 551 options available in our top high rise buildings.  That’s unchanged from last month when we updated.  It’s still down from the 592 listings in October but up from 442 this time last year.

We sold 69 condos in our top buildings in December.  That’s up from only 41 in November.  That’s the largest number of condos that sold in a month since our shutdown started last March.  We sold 52 in February before the shutdown started.  In fact, we dipped to only 19 units sold in March and 16 condos sold in April.  In December 2019 we only sold 53.  Hopefully, this is an indication that out of State buyers are making their way back into town.

Top Sellers in December - First place was a tie between Turnberry Place and ONE Las Vegas.  Both properties recorded 8 closings for the month.  

The second place is Turnberry Towers with 7 condos sold.  The third place is Panorama Towers with 6 condos sold for the month.

Las Vegas High Rise Prices - We sold 10 luxury high rise condos for more than $1M in December.  Four of those were $2M plus.  The top price paid was Penthouse 4304 at Waldorf Astoria.  Listed at $4.995M, it sold for $4.5M.  The second highest was also at Waldorf Astoria with #2709.  Listed for $3.3M it sold for $2.97M.  Waldorf Astoria took the third-highest price with #2909.  Listed for $2,099,999 it sold for $2.025M.

Lowest Prices - The lowest price was at Trump where #3403 was listed for $215K and sold for $195K.  The second and third lowest were at Palm’s Place, another condotel.  Palm’s Place #2520 was listed for $240K and closed for $206K.  Palm’s Place #3008 was listed for $225K and sold for $210K.

Highest Price Per Square Foot - Waldorf Astoria cornered the market for highest price per sf.  The third place was #2708 which closed for $1021/sf.  The second was #2903 at $1135/sf.  The Penthouse #4304 closed at $1633/sf.

Lowest Price Per Square Foot - Allure #1608 was the lowest at $222/sf.  Allure #3401 was second at $226/sf.  Newport Lofts was third lowest with #1104 closing at $228/sf.

SOLD in December 2020:

Las Vegas High Rise News - November 2020

Las Vegas High Rise Buyers now have 551 options in our top buildings.  That’s down from 592 last month.  Still a jump from 464 listings available in November 2019.

We sold 41 luxury condos in our top buildings last month.  That’s a slight drop from October when we sold 43.  It’s a gradual decline from 48 in September and 50 in November 2019.  Considering that a majority of high rise buyers come from other States/Countries, it’s surprising that we’re doing this well with the current travel restrictions.

Top Sellers in November - Signature at MGM had the highest number of closings with 6 condos changing hands.  Second place was a tie between Palms Place and Turnberry Place with 5 in each community.  Third place was a tie between Turnberry Towers and The Martin with 4 closings in each community.

Las Vegas High Rise Prices - Six luxury condos sold for $1M plus in November.  One of those was over $2M and one was over $3M.  Top price was at Waldorf Astoria where Penthouse 4305 sold for $3.65M.  Second place was ONE Queensridge Place Tower 2 #1102 which sold for $2.12M.  Third place was also ONE Queensridge Place but Tower 1 #404.  That oe sold for $1.2M.

Lowest Prices - The Lowest price was Palms Place #21312.  It closed for $200K.  Second was Signature at MGM Tower 2 which closed for $203,175.  Third lowest price was Trump 3528 which closed for $207,500.

Highest Price Per Square Foot - Waldorf Astoria again proves it can command the premium prices in our high rise market.  Penthouse 4305 closed for $1325/sf.  It was followed by Trump Penthouse 6005 which closed for $576/sf.  Third most expensive was ONE Queensridge Place #1102 which closed for $550/sf.

Lowest Price Per Square Foot - Some lucky buyer scored an incredibly low price per sf at Turnberry Place Tower 1 unit 304.  It closed for $173/sf.  Next was Signature at MGM Tower 2 #2020 that closed for $232/sf.  Third lowest price per sf was Allure #912 that closed for $267/sf.

SOLD in November 2020:

Las Vegas High Rise News - October 2020

High Rise buyers in Las Vegas have 592 luxury condos to choose from today. A slight increase from last month when there were 578 options. It’s a jump over the 499 options this time last year.

We sold 43 condos in our top buildings last month. Down from 48 in September. It’s a drop from the 54 we sold in October 2019. The continued slowness in the high-rise market is largely related to the pandemic and the out-of-State buyers who are not able to come into town to buy.

Top Sellers in October - Turnberry Place took the lead with 6 units changing hands there. Trump and Palms Place tied for second with 5 condos selling in each building. ONE Las Vegas was third with 4 transactions.

Las Vegas High Rise Prices - We only sold one high rise condo for $1 Million or more in October. Down from 7 in September. Turnberry Place Tower 2, Unit 3201 was listed for $3,499,975. It sold for $3 Million even on 10/27/20. The 4 bedroom, 7 bath residence had been listed 177 days.

Lowest Prices - Lowest price for the month was Trump #5017 which closed for $192K. The second-lowest was Palms Place #2205 which closed for $193K. The third was Palms Place #30303 which closed for $200K.

Highest Price Per square foot - Veer Towers West #2607 closed at $563/sf. Veer Towers East #1609 closed at $520/sf. Turnberry Place Tower 2 #3201 closed at $519/sf.

Lowest Price Per Square Foot - Allure #2011 closed at $205/sf. Turnberry Place Tower 2, #204 closed at $207/sf. Allure #209 closed at $208/sf.

Las Vegas High Rise News - September 2020

Las Vegas High Rise buyers have 578 luxury condos available today.  About the same as last month but a jump from the 492 a year ago and a huge jump over the 320 available two years ago.

We sold 48 luxury condos in September.  That’s similar to the 49 that sold in September 2019 and up from 32 that sold in August.

Top Sellers in September - ONE Las Vegas lead the sales volume with 9 units that changed hands.  The second place was a tie between Turnberry Towers and Palms Place. Each property sold 5 condos for the month.  Third place was also a tie between Veer Towers and Signature at MGM.  Each of those properties saw 4 units change hands.

Las Vegas High Rise Prices - seven luxury condos sold for more than $1M in September.  The top price was Turnberry Place Tower 4 Unit 3701.  Listed at $3.5M it closed for $3.05M.  This 5609 sf home in the sky included 3 bedrooms and 5 baths.  It offered views of the entire valley and was sold furnished.  It was listed for 56 days.

Waldorf Astoria 34207 was listed for $2.29M and sold for $2.1M with only 2 days on the market.  It offered 2 bedrooms, 3 baths in 2167 sf.  It was sold as a bare shell for the buyer to create their own masterpiece.  Views were of South Strip with the Raider stadium in the distance.  It was listed only 2 days but had been listed with a different MLS number for 83 days previously.

Veer Towers East #3206 was listed for $1.899M and sold for $1.79M.  The 1814 sf, 2 bedrooms, 2 bath residence was listed for 26 days.  The home featured contemporary custom finishes with views of the North Strip, including the Eiffel Tower and the Linq.

Highest Price Per Square Foot - The properties in the City Center/Aria complex continue to dominate other towers when it comes to price per square foot.  Waldorf Astoria, units 4207 (the grey shell), and 3703 both closed at $969/sf.  Veer Towers #3206 closed at $987/sf.

Lowest Prices - We actually had three high rise condos that sold for less than $200K.  The lowest price was Palms Place 35305.  Listed for $265K it closed for $165K after 107 days on the market.  Palms Place 2006 was listed for $195K and closed for $190K after 73 days on the market.  ONE Las Vegas #1404 was listed for $275K.  It sold for $190k after 243 days on the market.

Lowest Price Per Square Foot - Turnberry Towers East #307 sold for $181/sf after 8 days on the market.  Allure #309 sold for $210/sf after 51 days on the market.  Metropolis #807 sold for $220/sf after 193 days on the market.

SOLD in September 2020:

Las Vegas High Rise News - August 2020

Las Vegas High Rise buyers have 577 luxury condos available today. Up from 548 last month. It’s up from 496 options this time last year.

We sold 32 Luxury Condos in our top buildings last month. That’s down from 43 last month and considerably lower than the 54 we sold in August 2019.

Top Sellers in August - Veer Towers with five condos sold. Signature at MGM was second with four closings. Trump and Juhl tied for 3rd with 3 condos selling in each of those communities.

Las Vegas High Rise Prices - We sold three luxury condos for more than $1 Million in August. The top price was The Waldorf Astoria Residence 3304. Listed for $2.8M it sold for $2.625M after 15 days on the market.

Veer Towers West #2901 was listed for $1,999,500. It sold for $1.95M after 140 days on the market.

Panorama Towers Tower 1 #2501 was listed for $1.225M. It sold for $1.03M after 28 days on the market.

Highest Price Per Square Foot - Highest price per square foot continues to be focused in the condos at CityCenter. Waldorf Astoria #3304 fetched $1,024/sf. Veer Towers West 2901 sold for $977/sf. Veer Tower  East #1912 sold for $589/sf.

Lowest Prices - JUHL #445 was the lowest priced closing at $199,900. It was followed by Signature at MGM Tower 3 #217 at $200K and Signature at MGM Tower 2 #2104 at $200K.

Lowest Prices - Lowest price per square foot was Allure #906 at $225K. It was followed by SKY #808 at $249K and Newport Lofts #1005 at $259/sf.

Las Vegas High Rise News - July 2020

Las Vegas High Rise Buyers have 548 condos to choose from today. We’ve seen a steady increase of condos for sale throughout the Covid shutdown. Last month we were at 493, the month before at 473. It’s a big jump from 432 high rise condos for sale at this time last year.

We sold 43 Luxury Condos in our top buildings last month. That’s also been increasing monthly since we dropped to only 16 in April when the shutdown first started. It was 33 last month and 24 the month before. It’s a few more than the 38 we sold in July 2019. We expect the high rise market to continue improving as travelers return to Las Vegas.

Top Sellers in July - Signature at MGM and Veer Towers tied for most closings in July with 6 units sold in each of those. Turnberry Towers and Newport Lofts tied for second-most active with four condos sold in each of those communities.

Las Vegas High Rise Prices - We sold five high rise condos priced at more than $1 Million. The three most expensive were all at Waldorf Astoria. Waldorf #2705 was listed at $3.5M and sold for $3.5M. Waldorf #3703 and 3811 both sold at $2.3M. Turnberry Place and Veer Towers both had a condo that sold for more than $1M in July.

Highest Price Per Square Foot - The three highest prices per square foot were also at Waldorf Astoria. Unit 3811 closed at $2080/sf. Unit 3703 closed at $392/sf. Unit 2705 closed at $1167/sf.

Lowest Prices - Palms Place #2203 was listed at $188K and closed for $183K. Trump #2301 was the lowest price for a high rise condo that sold last month. Listed at $229K it closed for $190K. Palms Place #2504 was listed at $219K and closed for $205K.

Lowest Price Per Square Foot - The three lowest prices per square foot were at Newport Lofts. Unit 1708 closed at $219/sf. #1410 closed at $street 227/sf. #1109 closed at $228/sf.

Las Vegas High Rise News - June 2020

Las Vegas High Rise Buyers currently have 493 luxury condos to choose from.  Up slightly from 473 the month before   Up considerably from the 416 we had a year ago.

We sold 33 condos in our top high rise buildings.  Up from the low of 16 in April when shutdown had just started and 24 last month.  That’s almost as many as the 37 we sold in June 2019.

Top Sellers in June - Palms Place was by far the leader with 8 units sold.  The Martin and Veer Towers tied for second with 4 units sold in each property.  The Ogden and Trump tied for third with 3 in each building.

Las Vegas High Rise Prices - We sold two luxury condos for more than $1 Million in June. One Queensridge Tower 1, Residence 1503 was listed for $4.95M and sold for $4M after 52 days on the market.  The Martin #4110 was listed for $1.345 and sold for $1.1M after 63 days on the market.

Highest Price Per Square Foot - Most expensive was ONE Queensridge #1503 which closed at $782/sf.  Veer Towers East #2107 closed at $593/sf.  The Martin #4110 closed at $561/sf.

Lowest Prices - Six high rise condos sold for less than $200K in June.  All six were studio units at Palms Place.  Unit 2503 was listed at $204,888 and sold for $190K.  Unit 2912 was listed for $199,000 and sold for $197,000.  Unit 3016 was listed for $199,900 and sold for $195K.  Unit 3120 was also listed at $199,900 and sold for $195K.  Unit 1910 was listed for $199K and sold for $199K.  Unit 1608 was listed at $219K and sold for $190K.

Lowest Price Per Square Foot Allure #3808 was lowest price at $243/sf.  Sky #1004 was second at $245/sf.  Palms Place #1121 was third at $246/sf.

Las Vegas High Rise News - May 2020

Las Vegas High Rise Buyers have 473 luxury condos available as of today. Only a slight increase from last month when we had 467 available. And only slightly higher than last year when we had 462 options on the market.
 
The number of condos sold in these buildings continues to be low. Although this month we had a few more transactions than last month. We sold 24 high rise condos in May after dropping to only 16 in April. A high percentage of our high rise buyers tend to be out of the area. The tourists haven’t been flying in and the high rise buyers seem to have disappeared along with them.
 
Top Sellers in May - Palms Place was first with 5 condos sold. Followed by Panorama Towers and ONE Las Vegas who both sold 4 units. There were no closings in many of our popular communities. Veer Towers, Turnberry Place and Allure reported no sales. MGM Signature which is usually among the most active had only 1 unit sold in May.
 
Las Vegas High Rise Prices - We only sold one high rise condo for $1 Million or more. It was Panorama Towers Tower 2 Unit 2700. Listed for $1.05M it closed for $1.05M. The 2372 sf end unit boasted both Strip and Mountain views.
 
Highest Prices Per Square Foot - We didn’t see any of the high rise condos close for more than $500/sf. Top prices were The Martin #1210 at $471/sf. Panorama Towers #2700 at $443/sf. Trump #4202 at $428/sf.
 
Lowest Prices - Lowest prices were two units at Palms Place. Both 2610 and 2612 closed for $185K. Palms Place 2118 and Trump 2127 both closed for $190K.
 
Lowest Price Per Square Foot - ONE Las Vegas #608 closed at $212. ONE LV #621 closed for $262/sf. Palms Place 33322 closed for $287/sf.

Las Vegas High Rise News - April 2020

Today’s high rise buyers have 467 condos available in our top buildings. Only a slight increase over the 460 available last month. A year ago we had 445 condos available in the same buildings.
 
The number of condos sold in these buildings has taken a big hit due to the Covid 19 shutdownWe only sold 16 condos in those buildings for the month of April. That’s down from 46 in March and 62 in April 2019. 
 
This drop in sales is likely to last until we start getting businesses open again. Another problem with high rise condos is many are tenant occupied. We’re not allowed to show tenant occupied homes. Luckily, sellers aren’t trying to dump condos. 
 
During the recession, financing dried up in the high rise market. The last couple of years it became available in many of the buildings again. The mortgages offered in high rise buildings now require at least 20-25% down. For those reasons, there is far more equity in the high rise market than was there in the crash of 2008.
 
Top Sellers in April - this was a three way tie. Signature at MGM Grand, Allure and Turnberry Place all had two condos sold. Other buildings had no activity or only sold one condo for the month. Compare that to last month when Palms Place sold 10, MGM sold 8. ONE Queensridge and Turnberry Place tied for third with 5 each. It’s a significant drop.
 
Las Vegas High Rise Prices - We only sold one luxury condo priced at $1M or more. Waldorf Astoria #3510 was listed for $1 Million and sold for $1 Million with zero days on the market. The 1 bedroom, 1 bath condo measured 1105 sf. It was sold with zero days on the market.  That compares to March when we sold 9 priced at $1M plus and three were above $3 Million.
 
Price Per Square Foot - Only three condos sold for more than $400/sf in April. The Waldorf Astoria condo was the most expensive at $905/sf. Second was Veer Towers West #2908. It closed at $555/sf. Third was Tower 2 at MGM Signature. It closed at $418/sf. 
 
Lowest Prices - Palms Place #33320 was listed for $190K & closed for $190K. Juhl #217 was listed for $199,900 and closed for that. Signature at MGM #1516 was listed for $228,888 and closed for $217,500.
 
Lowest Price Per Square Foot - ONE Las Vegas #111 sold for $224/sf. Turnberry Place Tower 4, #2503 sold for $228/sf. Allure #3611 closed for $239/sf.
 
 Las Vegas High Rise News - March 2020
Today’s high rise buyers have 460 options in our best high rise buildings. Up from 400 this time last month. And up from 412 this time last year.
 
We only sold 46 luxury condos in March. Down from 52 in February and 49 in January. In March 2019, we sod 58 condos in these same buildings.
 
Top Sellers in March - Palms Place with 7 condos sold. Prices ranged from $214K to $500K
 
ONE Las Vegas was second with 6 condos sold. Prices ranged from $299,900 to $499,900
 
Turnberry Place was 3rd with 5 condos sold. Price ranged from $422,500 to $3.75M
 
Highest High Rise Prices - Six luxury condos sold for more than $1 Million in March. Top price paid was Turnberry Place Tower 2, #3301. Listed for $4.1M, it sold for $3.75M after 174 days on the market. The 5779 sf residence offered 5 bedrooms and 7 baths. It featured incredible views of the Strip, Mountains and City.
 
Waldorf Astoria #3504 was listed for $2.65M and sold for $2.65M after only 4 days on the market. The 2563 sf residence featured 2 bedrooms and 3 baths with Strip and Mountain views.
 
ONE Queensridge Place Tower 1, #1201 - It was listed for $2.995M and sold for $2.4M after 279 days on the market. The 4792 sf condo featured 4 bedrooms and 6 baths. This residence had been updated. It had a more contemporary look than is typical at ONE Queensridge. It also featured beautiful Strip and Mountain views.
 
Highest Price Per Square Ft - Waldorf Astoria #3504 was the most expensive price per square foot in March. It’s closing price was an incredible $1034/sf.
 
Waldorf Astoria #3001 was second most expensive. Listed at $1.675M, it sold for $1.525M or $784/sf
 
ONE Queensridge Place #1201 was third highest price at $649/sf.
 
Lowest Prices - Lowest price for a high rise condo in March was at Juhl #371. Listed for $199,900 it sold for $199,900 after 54 days on the market. This condo was 1 bedroom, 1 bath in 595 sf.
 
Palms Place #1609 was second lowest price. This 636 sf studio was listed for $214,900 and sold for $214,900. It was on the market 136 days.
 
Third lowest price was also at Juhl. Unit 301 was listed for $235,900 and sold for $235,900. The 687 sf, 1 bed/1 bath was a developer unit.
 
Lowest Price per Square Foot - Lowest price per sf was Turnberry Place Tower 1 #1704. Listed at $445K, it sold for $422,500 or $206/sf. It was only on the market 7 days before accepting offer.
 
SOHO Lofts #808 was second lowest price per sf. Listed at $339K, it sold for $327K or $248/sf.
 
Third lowest price per sf was also at Turnberry Place. Tower 2, Unit 906 was listed for $449,900 and sold for $432,500 or $253/sf.
 
Other high rise news - in the midst of the Covid19 shutdown, condotel and AirBnb owners are hurting. Signature at MGM has remained open even though MGM resorts are closet. They’re only keeping staff at the desk in Tower 2.
 
Palms Place is still maintaining a desk staff at their tower even though The Palms Casino is closed. Trump is completely closed. Vdara in CityCenter is also closed.

Las Vegas High Rise News - February 2020

Today’s high rise buyers have 400 options to select from in our top buildings.  Down slightly from 412 last month.  It’s about the same as the 398 we had this time last year.

We sold 52 condos in our top buildings in February.  Up from 49 in January.  That’s a nice increase from the 38 high rise condos we sold in February 2018. 

Top Sellers in February - Signature at MGM was top seller with 8 condos changing hands.    Turnberry Towers came in second with 7 closings.  Turnberry Place came in 3rd with 6 condos sold. 

Highest Prices - Five residences sold for more than $1 Million in February.  Highest price paid was at Park Towers.  Residence 703 was listed for $2.5M and sold for $2.25M after 251 days on the market.  

Second highest price for the month was Waldorf Astoria Residence 3903.  Listed for $1.85M it sold for $1.85M with zero days on the market. 

Third place was Turnberry Place Tower 2 #2403.  Listed for $1.688M it sold for $1.6M after 1008 days on the market. 

Highest Price Per Square Foot - Top 3 prices per square foot were all located in CityCenter.  Waldorf Astoria #3903 closed for $1120/sf.  Vdara Unit 38010 closed for $839/sf.  Also at Vdara, #7008 sold for $591/sf.

Lowest Prices -  Juhl #373 sold for the lowest price of our high rise condos.  Listed for $199,900 and sold for $199,900.  

Second Lowest was Allure #1710.  Listed for $225K, it sold for $220K after 72 days on the market.

Third lowest was Signature at MGM Tower 2.  Unit 1818 was listed for $235K and sold for $225K after 74 days on the market.

Lowest Prices Per Square Foot - The three lowest prices per square foot were all at Allure.  Unit 607 closed at $201/sf.  Unit 1710 closed at $202/sf.  Unit 907 closed at $215/sf. 

Las Vegas High Rise News - January 2020

Las Vegas High Rise buyers have 412 options in our top buildings. It’s a decline from the 442 last month and follows several months of declining inventory. It’s slightly more than the 385 we had in January 2019. 
 
We sold 49 high rise condos in January. Down from 53 in December. A slight increase from 42 sold in January 2019.
 
Top Sellers in January - Signature at MGM was the top seller with 6 condos sold. ONE Las Vegas and Turnberry Towers tied for second with 5 closings in each of those communities.
 
Highest Prices - Three condos closed for more than $1 Million. Turnberry Place Tower 3 #2904 was listed for $2.295M and closed for $1.945M. It was 4103 sf.
 
Trump Penthouse 6001 was listed for $1.79M and sold for $1.68M. It was 1735 sf.
 
Waldorf Astoria Residence 3711 was listed for $1.15M and sold for $1.015M. It was only 1106 sf.
 
Highest Price Per Square Foot - Trump 6001 was most expense at $968/sf. Vdara #56020 was second at $942/sf. Waldorf Astoria 3711 was third at $918/sf.
 
Lowest Prices - Lowest price was Trump 1616. The studio closed at $200K. Second lowest was Trump 3718. The studio closed at $214,500. Third was Allure #1212. It sold for $242,500.
 
Lowest Price Per Square Foot - Lowest price per sf was Panorama Towers #303. It closed at $203/sf. Second place was Turnberry Place Tower 2 #304. It closed for $204/sf. Third was SOHO Lofts 1101. It sold for $217/sf.
 

 

Las Vegas High Rise News - December 2019

Today’s high rise buyers have 442 options in our top buildings.  A steady decline from 464 last month and 499 the month before.  It’s still more than the 357 we had available in December 2018. 

We sold 53 high rise condos in our top buildings in December.  That’s a slight increase from 50 in November.  It’s a nice increase over the 45 we sold in the same month last year.

Top Sellers in December - This month’s top selling buildings was a three way tie.  Turnberry Towers, MGM Signature and Veer Towers all sold 7 condos each for the month.  Fourth place was ONE Queensridge with 5 closings. 

Highest Prices - Five condos closed for $1 Million or more.  Top price was Turnberry Place Tower 3, Unit 3701.  Listed for $3.875M it sold for $3.6M after 156 days on the market.  The 5779 sf penthouse featured 5 bedrooms, 7 baths with incredible views.

ONE Queensridge Place Tower 2, #1202 was listed for $2.5M.  It sold for $2.375M after 30 days on the market.  The 3856 sf home featured 3 bedrooms and 4 baths.

Waldorf Astoria #2606 was listed for $2.05M and closed for $1.95M after 43 days on the market.  The 1675 sf residence offered 1 bedroom, 2 baths and a den.

Top Price per Square Foot -  Three high rise condos sold for more than $700/sf in December.  All three were in CityCenter.  Waldorf Astoria #2606 was top price at $1164 per sf. 

Second highest was Waldorf Astoria #3201 closed at $950/sf.

Third highest was Vdara #24026 at $712/sf. 

Lowest Prices - Cheapest high rise deal was Juhl #577.  Listed for $187,999 it sold for $180K after 108 days on the market.  It was a 552 sf, 1 bedroom, 1 bath condo.

Second lowest was Trump #1614.  The 533 sf studio was listed for $209,900 and sold for $208K after 174 days on the market.

Third lowest was Allure #2512.  The 974 sf 1 bed, 2 bath condo was listed for $213,900 and sold for $220K after 39 days on the market. 

Lowest Price Per Square Foot - We aren’t seeing too many high rise condos closing for less than $200/sf now.  We did see Allure #508 close at $174/sf in December.  The 1577 sf 2 bedroom/2 bath condo was on the market 320 days before selling.

Second lowest price per sf was also at Allure.  Unit 2512 closed at $226/sf.  The 974 sf, 1 bed/1.5 bath had been listed 39 days.

Third lowest price was Turnberry Place Tower 3, #1805.  This 1556 sf 2 bedroom/2 bath had been listed for 61 days when it closed for $241/sf. 

2019

Las Vegas High Rise News - November 2019

Today’s buyers have 464 luxury high rise condos to choose from in Las Vegas.That’s down from 499 in November and 492 in October.It is still an increase from the 359 condos listed when we did our high rise update in November 2018.

We sold 50 luxury high rise condos in November.A slight dip from 54 in October but up from the 49 sold in September.Not a big change from the 52 we sold in November 2018.

Top Sellers in November - Turnberry Place was first place with 9 closings in the subdivision.    Second and third place was a tie between Turnberry Towers and The Martin.Each community had 5 closings.

Highest pricesPalms Place #5902 is the most expensive high rise condo that has sold over the past few years.Listed for $15M, it closed for $12.475M on 11/6/19.This incredible residence offers over 25,000 sf of living space with panoramic views.  

Second place was Waldorf Astoria Residence 2703.Listed at $1.85M it sold for $1,788,888.

Third Place was ONE Las Vegas unit 1901.Listed at $1,175,900, it sold for $1,175,900.  

Only 5 high rise condos closed above $1M in November.

Top Price Per Square Foot was an amazing $2002 per sf for Penthouse 5902 at Palms Place.This was a unique property.This penthouse includes the entire 59th floor of Palms Place.It is the highest price per square foot that we have tracked for the high rise market over the past several years.

Second place was Waldorf Astoria Residence 2703.It sold for $1083 pr sf.  

Third place was Veer Towers East unit 1408 which closed for $696 per sf.

Lowest Prices - Lowest price for a high rise condo was again at Allure.Unit 806 was listed for $205,900 and sold for $205,900.  

Second place was Palms Place #819.The studio was listed for $225K and sold for $213K after 58 days on the market.

Third place was Trump residence 3003.Listed for $245K the studio sold for $220K after 17 days on the market.

Lowest price per square foot:Turnberry Place Tower 1, Unit 1602 was the lowest price per square foot in November.The luxury high rise closed at a mere $193/sf 

Second place was ONE Las Vegas Unit 708 which closed at $219/sf 

Third place Was SOHO Lofts #1201.It closed at $223/sf.

SOLD in November 2019:

Las Vegas High Rise News - October 2019

Las Vegas buyers who prefer the high rise lifestyle have 499 options to choose from today. Only a slight increase from 492 last month. A sizable increase from the 343 units that were listed for sale last year.
We sold 54 high rise condos in October. Up from 49 in September. Down from 70 sold in October 2018.
Top Sellers in October - Signature at MGM had the highest sales volume. 9 condos sold in the three towers.
Turnberry Place came in second with 8 closings in their four towers.
Panorama Towers was third with 6 closings in their two towers.
Highest Prices in October - We sold 8 condos for more than $1 Million with half of those closing above $2 Million. Top price was Waldorf Astoria #4202. Listed at $3.85M it closed for $3.375M after 108 days on the market.
ONE Queensridge Place Tower 2 #1401 was second. Listed at $3.1M, it sold for $2.95M with only one day on the market.
Park Towers was third with unit 1104. Listed at $3.05M it closed for $2.9M after 44 days on the market.
Top Price Per Square Foot was Waldorf Astoria #4202. It closed for $1502/sf. Veer Towers West #3503 was second at $843/sf. Third place was also at CityCenter. Vdara #26026 came in at $792.sf. We consistently see the properties in CityCenter fetch the highest prices.
Lowest prices - Three lowest prices paid were all at Allure. Unit 408 closed at $210K. Units 1012 and 2906 both closed at $220K.
Lowest Prices Per Square Foot - Lowest price per square foot was Allure #408. It closed at $210/sf. Second lowest was Turnberry Place Tower 3 #1201. It sold for $223/sf. Allure #1012 was third lowest at $226/sf.

Las Vegas High Rise News - September 2019

Looking for a Las Vegas High Rise Condo?We have 492 of them listed for sale in our top buildings today.About the same as when we did our update last month.A big jump over the 320 we had this time a year ago. 

We only sold 49 condos in September, down from 54 in August and 54 in September 2018.

Top Sellers in September - First place was Turnberry Towers with 8 condos closing.Allure was second with 5 closings.   

Third place was a tie between Turnberry Place, SKY and ONE Las Vegas with each community selling 4 condos.

Highest Prices in September - we only sold two condos priced at $1 Million or more in September.However, the two that sold were incredible.Penthouse 1802 at ONE Queensridge Place was listed for $10,000,000.It sold for $8,005,000 after 351 days on the market. 

Waldorf Astoria, #3305 was listed for $3.6M and sold for $3.4M. 

Top Price per Square Foot - Waldorf Astoria #3305 was the highest price per sf at $1134.Second place was Veer Towers West #1601 at $759/sf.Third place was MGM Signature Tower 2 #3609 for $558/sf.

Lowest Prices - Juhl #215 was the cheapest high rise condo sold at $199,900.It was followed by Allure #2811 at $230K and Allure #3211 at $235K.

Lowest Price Per Square Foot - All three of the lowest price per square foot deals were at Allure.Unit 2811 came in at $211/sf.Unit 3211 closed for $216/sf.Unit 1104 closed for $217/sf. 

Las Vegas High Rise News - August 2019

Las Vegas High Rise buyers have 496 luxury condos for sale this month.That’s a steady increase from 432 last month and 416 from the month before.That’s a huge increase from 311 the same month last year. 

Good news is the number of condos sold in our top buildings bounced back a bit last month.We sold 54 condos in August.Up from 38 in July and 37 in June.It’s still a drop from the 78 condos sold in August 2018.

Top sellers in August - First place for the month was a tie between Waldorf Astoria and Panorama Towers.Each of those properties sold 6 condos in August.Considering that Waldorf prices ranged from $985K to $5.75M, I would give them first place.Closing prices at Panorama Towers ranged from $254K to $692K.

Third place was also a tie.Turnberry Place and Signature at MGM each closed five transactions.Again, prices at Turnberry Place ranged from $397,950 to $1.35M.Signature at MGM ranged from $250K to $338K. 

Highest Prices in August - We sold 9 condos for $1 Million or more. Four of those were more than $2M. 

Top three prices were all at Waldorf Astoria

Penthouse 4606 was listed for $5.995M and closed for $5.75M.The 3922 sf residence features 3 beds, 4 baths and was listed for 80 days. 

Residence 3605 was listed for $4.48M NS AOLS DOE #2.9`M.The 2998 sf plan featured 2 beds and 3 baths.It was on the market 47 days. 

Unit 2808 was listed for $3.691M and closed for $3.5M.The 2910 sf condo has 2 bedrooms and 3 baths.It was listed for 85 days.

Top price per SF - Four of the condos that sold in August closed at more than $1000/sf.All four were at Waldorf Astoria.Penthouse 4606 closed at $1466/sf.Unit 3605 closed at $1304/sf.Unit 2808 closed at $1203/sf.Unit 3207 closed at $1124/sf.Waldorf Astoria continues to overshadow our other buildings as the most distinguished property. 

Lowest Prices - Once again, JUHL sold two condos for less than $200K.Units 467 and 545 were developer units that both sold for $199,900.The next lowest price paid was unit 1305 at SKY.It closed for $232,500.

Lowest Price Per Square Foot - Turnberry Place is where we found the bargains last month.Lowest price per sf was Tower 1, unit 2504.It sold for $194/sf.Second place was Tower 1 #1804.It closed at $200/sf.Third place was tower 2 #301.It closed at $206/sf.

Las Vegas High Rise News - July 2019

Las Vegas High Rise buyers now have 432 options to choose from.Up from 416 last month but down from the low of 311 in July 2016.

Sales were stagnant with 38 luxury high rise condos sold in July.That’s only one more than in June.It’s a huge drop from the 86 residences we sold in the top building July 2018.

Top Sellers in July - More than half the condos that sold in July were in five high rise communities.Five condos sold in Turnberry Place, Veer Towers, MGM Signature and ONE Las Vegas.The Ogden had four closings.So 24 of the 38 luxury high rise condos sold last month were in those buildings.

Highest Prices in July - We sold three luxury condos for more than $1 Million.

Highest price was Waldorf Astoria #2503.The 1652 sf residence was listed for $2.25M and sold for $1.9M.It featured 2 bedrooms, 2 baths in 1652 sf.It was on the market 73 days. 

Second place was Turnberry Place Tower 4 #3402.Listed for $1.25M it sold for $1.16M the first day it was listed.The 2805 sf home featured 3 beds and 3 baths.

Third place was ONE Las Vegas.Unit 1922 was listed for $1.099M and sold for $1.099M.The 2872 sf home featured 3 beds, 4 baths and sold in 21 days.

Top Price Per SF - The top prices per square foot in July were once again at the CityCenter Properties.

Waldorf Astoria #2503 took top price per sf at $1150.The 1652 sf residence was also the highest price paid in July.

Veer Towers East #2306 came in at $761/sf.The 966 sf residence had 1 bed, 1 bath with direct Strip views from every room.

Veer Towers East #2511 was third at $535/sf.It was a 542 sf studio.

Lowest Prices - For the first time in a few months, we had a condo that sold for less than $200K.Juhl #317 was only a 635 sf studio when it sold for $199,900.  

Allure took second and third place.Unit 1411 was listed for $229K and sold for $225K.The 1090 sf condo had 1 bedroom, 1 bath and sold in 26 days.Unit 2910 was listed for $249K and sold for $249K.Another 1090 sf 1 bed, 1 bath unit it sold in 32 days.

Lowest Price Per Square Foot - We haven’t seen too many deals closing for less than $200/sf recently.We did with Metropolis Unit 405.Listed at $475K it closed at $437,500 with 31 days on the market.The 2252 sf condo had 2 bedrooms and 2 baths.It sold for $194/sf.

Second and third lowest prices per square foot were both at Allure.Unit 1411 sold for $206/sf.Unit 2910 sold for $228/sf.

Las Vegas High Rise News - June 2019

We currently have 416 luxury condos for sale in our top buildings.Down from 462 last month but up from the low of 311 in July 2018.   

We saw a dip in sales for the month.Only 37 condos changed hands in our top buildings.Down from 61 last month and the 85 we sold in June 2018. 

Top Sellers in June - ONE Las Vegas was the most active community.They closed escrow on six condos.All six were “developer” units.Second/Third place was a three way tie between Turnberry Place, The Martin and MGM Signature.Each of those communities sold 4 condos in June. 

Highest Prices in June - We sold four condos for more than $1 Million, two of those were just under $3M.  

Top price was Waldorf Astoria #4607.The 2167 sf residence was listed for $3.2M and closed for $2.8M.

Second place was Park Towers #1802.Listed for $3.05M, it closed for $2.7M.   

Turnberry Place Tower 3 #3201 was listed for $1.175M and closed for $1.175M.It was followed by The Martin #3010. This one was listed for $1.295M and closed at $1.1M.

Price Per Square Foot - Waldorf Astoria fetched the highest price per square foot again.Unit 4607 sold for $1292/sf.It was followed by Vdara #33032 (also in CityCenter) at $800/sf.Park Towers placed third with unit 1802 going for $768/sf.

Lowest Prices - We didn’t sell any units in our top buildings for less than $225K in June.Lowest price wasa tie between Unit 1607 at Palms Place and unit 2302 at Trump.They both closed at $235K.Palms #1607 was listed for $209K and unit 2307 at Trump was listed at $249K.Only one other unit sold for less than $250K.Trump #4208 was listed at $255K and closed at $243K.   

Lowest Price Per Square Foot - Only two high rise condos closed for less than $250/sf.  Lowest price was ONE Las Vegas #810.  It sold for $241/sf.  It was followed by Allure #2005 at $243/sf.

Las Vegas High Rise News - May 2019

Las Vegas currently has 462 luxury high rise condos for sale. Up from 445 last month and 311 when we reported in June 2018.
We sold 61 condos in the top buildings we follow here. That’s a considerable drop from the 85 we sold in May 2018 but similar to the 62 we sold in April.
Top Sellers in May - Signature at MGM was the most active with 9 condos changing hands. ONE Las Vegas and Palms Place tied for second with 8 transactions in each building. Turnberry Place and Veer Towers tied for third place with 6 closings each.
High Rise Prices in May - We only sold four high rise condos priced at $1 Million or more, down from 9 last month. Only ONE Queensridge Place #1402 sold for more than $2 Million. Listed t $2.5M, it closed for $2.35M after 80 days on the market.
Second place was Veer Towers West #2412. Listed at $1.25M it sold for $1.237M.
Third place was Turnberry Place Tower 2 #3303. Listed at $1.2M, it sold for $1.2M with only 5 days on the market.
Waldorf Astoria usually leads the pack but unit 3216 was listed at $1.1M and sold for $1.1M after 92 days on the market.
Price Per Square Foot - Waldorf Astoria may not have boasted the highest closing price but they did take the highest price per square foot. Unit 3210 sold for $995/sf. That one was sold as an “Owner Will Carry”.
Veer Towers, also in CityCenter was second highest price per square foot. Unit 2412 closed at $907/sf.
ONE Queensridge may have been the highest price but they were third highest price per square foot at $907.
Lowest Prices - The lowest price paid for a high rise condos in our top buildings was $225K for Studio unit 12319 at Palms Place. Allure #2806 came in second at $229,500. Third place was another studio #1205 at Palms Place which sold for $230K.

Las Vegas High Rise News - April 2018

The Greater Las Vegas MLS currently has 445 condos in our top high rise buildings for sale.Up from 412 last month.We’ve seen a steady increase over the 319 condos for sale at this time last year.

We sold 62 condos in those same buildings.A slight increase from the 58 we sold in March.Down from 70 in April of last year.  

Top Sellers in April - Palms Place took the lead with 10 condos sold.It was followed by 8 closings at MGM Signature.ONE Queensridge Place and Turnberry Towers tied with 5 closings each.

Las Vegas High Rise Prices - Sales volume may be a little sluggish but prices are strong.We sold 9 luxury condos priced above $1 Million in April.In fact, 6 of them were above $2M and 3 above $3M.   

Top price paid was Turnberry Place Tower 1 #3703.Listed at $4.499M it sold for $4.15M after 152 days on the market.The penthouse included 4 bedrooms, 6 baths in 6401 sf.It featured a deck with double fireplace and swimming pool.

Waldorf Astoria #2605 was second most expensive high rise closing.Listed at $3.99M, it sold for $3.6M after 83 days on the market.The residence offered 2 beds/3 baths in 2998 sf.

Trump Penthouse 6303 was listed for $3.2M and sold for $2.9M with only 1 day on the market.This furnished penthouse offered 3 bedrooms and 4 baths.

Price Per Square Foot - All three of the highest prices per square foot were at CityCenter.Top price was Waldorf Astoria’s Residence 2605.It closed at $1201/sf.

Second highest price was square foot was Veer Towers West #2502.It sold for $892/sf.Third place was Vdara #50012.The furnished condole sold for $874/sf.

Lowest Prices - The condos that sold last month were all over $200K.Lowest price paid was for Studio #2724 at Trump.Listed for $215K it sold for $215K in only 6 days.Palm’s Place #16-30 was listed at $235K and sold for $225K after 28 days on the market.

Lowest Price Per Square Foot -The lowest prices per square foot continued to be found at Allure.Unit 3311 closed for $218/sf.Unit 3711 closed for $229/sf.Unit 809 at SOHO tied Allure’s #3711 at $229/sf.  

Las Vegas High Rise News - March 2019

The number of high rise condos Las Vegas buyers have to choose from is edging up. As of today, we have 412 luxury high rise condos for sale. That’s up from 398 last month and 385 the month before and 357 the month before that. It’s a large increase from the 322 condos listed at this time last year.
We did see an increase in the number of units sold in our best buildings last month. We sold 58 condos in our top high rise buildings. That’s up from a mere 38 last month, 42, 45 and 52 over the last months. Still below the 71 we sold in March 2018.
Top Sellers in March - The top selling Las Vegas High Rise community was definitely Signature at MGM. The three towers saw 10 condos change hands. Prices started at $240K for a studios on the 9th floor of Tower 2. High price for the complex was $725K for a 38th floor combo of one bedroom and adjacent studio in Tower 3.
Other top sellers in March showed a tie between Turnberry Place, Allure, ONE Las Vegas and Palms Place. We saw five closings in each of those buildings last month. While it didn’t tie for the second place, it was interesting that four condos sold at Vdara Condotel. I suspect that’s a bit of investor interest ahead of the Raider’s moving to Vegas.
Las Vegas High Rise prices - We sold four condos for more than $1 Million. Highest price was Residence 3806 at Waldorf Astoria. Listed at $2.79M it closed for $2.4M after 47 days on the market. Next was Unit 3303 at Turnberry Place Tower 1. Listed at $2.195M it closed for $1.83M after 120 days on the market. Third place was Park Towers #701. Listed at $1.699M it sold for $1.65M after 70 days on the market. Veer Towers East #3001 was fourth place. Listed at $1.2M it closed for $1,087,500 after 84 days on the market.
Price per Square Foot - Unit 3806 at Waldorf Astoria was the highest price per square foot in March. It came in at $1433/sf. Top prices were also paid at Vdara where unit 32032 closed for $753/sf and unit 23030 closed for $698/sf.
Lowest Price - All three of the lowest prices paid for a condo were at Allure. Unit 407 closed at $222K. Unit 1603 closed at $220K. Unit 406 closed at $187,500 after 94 days on the market.
Lowest Price Per Square Foot - It isn’t surprising that Allure had the three lowest price per square foot deals. Unit 2201 sold for $221/sf. Unit 406 went for $216/sf. Unit 402 closed at $194/sf.

Las Vegas High Rise News - February 2019

The number of luxury high rise condos for sale continues to increase.We have 398 listed for sale in the buildings we follow here.That’s up from 385 last month and 357 the month before.It’s a huge jump from 313 a year ago.

We only sold 38 high rise condos in our top buildings last month.That’s down from 42 last month, 45 the month before and 52 in November.A pattern of steady decline while inventory is increasing.We sold 62 high rise condos last February.

Top Sellers in February - Trump International had the highest number of closings.Six units sold in that tower last month.Second place was Turnberry Place with four closings.Turnberry Towers, Palms Place, Panorama Towers and Allure tied for third place. Each of those buildings recorded 3 closings.

Las Vegas High Rise prices - We did sell three high rise condos priced above $1 Million.Top price was Veer Towers West #2601.Listed at $1,988,888, it sold for $1.835M after 117 days on the market.Second was Waldorf Astoria #2506.Listed at $1.85M, it sold for $1.65M after 168 days on the market.Third was ONE Queensridge Place Building 1, #1203.Listed for $1.299M, it sold for $1.2M after 28 days on the market. 

Price per Square Foot - The three highest prices per square foot were all in the CityCenter complex.Top price was Waldorf Astoria #2506.This 1675 sf residence was sold as an unfinished “grey shell”.It closed at $985/sf.

Second highest price per square foot was Veer Towers West #2601.This one closed at $879/sf.Vdara #16040 closed at $594/sf. 

Lowest Price - Once again, Allure took the prize for lowest price.Unit 803 was listed for $219,900.It closed for $212K with 28 days on the market.Also at Allure, #2112 was listed for $219,880 and closed for $217K after 87 days on the market.Trump was third with #2415.Listed for $225K the studio sold for $220K after 34 days on the market. 

Lowest Price Per Square Foot - Allure had the lowest price per square foot in February.Unit 2112 closed at $223/sf.Turnberry Place Tower 1, #2104 was close behind at $227/sf.Newport Lofts #1211 came in third at $232/sf. 

Las Vegas High Rise News - January 2019

The number of luxury high rise condos for sale has risen to 385 this month. That’s up from 357 last month and the low 300s where we lingered until the latter months of 2018. A year ago we only had 314 luxury high rise condos available for sale.
The number of condos sold for the month continued to decline. We were down to only 42 in January from 45 in December and 52 in November. We sold 58 condos in our top buildings in January 2018.
Top Sellers in January - MGM Signature was first place with 6 condos sold. Second and third place was a tie between Turnberry Place and Turnberry Towers. Each community sold 5 condos in the month.
Las Vegas High Rise Prices - Four of the condos that sold last month were over $1 Million with three being $2M or more. Top price was Waldorf Astoria residence 4707. It closed for the full list price of $3.99M after only 1 day on the market. It featured 2 beds, 3 baths in 2167 sf. Park Towers #1801 was listed for $2.99M and sold for $2.8M after 175 days on the market. Third place was ONE Queensridge #101. Listed for $2.25 M it sold for $2Million after 253 days on the market.
Price per Square Foot - Highest price per square foot was at Waldorf Astoria. Residence 4707 sold for an amazing $1841/sf. Second place was unit 1801 at Park Towers which sold for $797/sf. Vdara #8047 closed at $688/sf.
Lowest price - Allure continues to be the high rise where bargains are found. Lowest three prices paid were here. Unit 809 was listed for $203K and sold for $190K. Unit 309 sold for full list price of $2000K. Unit 2402 sold for list price of $217K.
Lowest Price per Square Foot - Unit 309 at Allure also was the lowest price per square foot at $200. It was followed by unit 1613 at Newport Lofts which closed at $211/sf. Third lowest was unit 705 at SOHO which closed at $216/sf.

SOLD in January 2019:

2018

Las Vegas High Rise News - December 2018

Buyers have 357 high rise condos available this month. Basically unchanged from 359 available last month. Higher than the low 300s we dropped to before October. It’s similar to the 354 high rise condos we had available in December 2017.
We sold 45 high rise condos in December. That’s a drop from 52 in November and 70 in October. It’s a big drop from the 77 we sold in December 2017. Hopefully, the sales volume in the high rise market will pick up as we get in to our busiest convention season.
Top Sellers in December - MGM Signature was first place with 7 condos sold. Second place was a tie between Juhl, The Ogden and Trump with 5 condos sold in each community. Allure was third with 4 units sold.
Las Vegas High Rise Prices - Four high rise condos sold for more than $1M. Two were at Waldorf Astoria, one at Veer and one at ONE Queensridge Place.
Top price was unit 4504 at Waldorf Astoria. Listed for $4.9M and sold for $4.6M with only one day on the market. 4502 at Waldorf was listed for $3.95M and sold for $3.6M after 94 days on the market. Third place was unit 3406 at Veer Towers West. Listed for $1.199M it sold for $1.199M after 3 days on the market.
Price Per SF - Only 8 condos sold for more than $500/sf last month. Down from 20 in November. Top price per square foot was also the top three closing prices. The Waldorf Astoria units actually closed above $1600/sf. Unit 4504 sold for $1669/sf, #4502 sold for $1602/sf. Veer Towers #3406 closed for $640/sf. CityCenter condos continue to go for the highest prices per square foot of our high rise condos.
Lowest prices - One high rise condo actually closed for less than $200K. Unit 469 at JUHL was a 595 sf one bedroom condo that sold for $199,900 with zero days on the market. It was a developer unit that was purchased with a VA loan.
Two studio condos at Trump made it to the three lowest prices. Unit 2814 and 2815 both closed at $205K. Both had been on the market 263 days with list prices of $214,888.
Lowest price per square foot - Unit 807 at Metropolis sold for $189/sf. Unit 3909 at Allure sold for $218/sf. Unit 703 at Turnberry Place Tower 2 came in third at $219/sf.

Las Vegas High Rise News - November 2018

Buyers have 359 high rise condos for sale in Las Vegas’ top buildings today. That’s a steady increase from 343 last month and 320 the prior month. It’s still lower than the 363 options buyers had last year.
We sold 52 high rise condos in November. That’s a drop from 70 in October but similar to the 54 sold in September. It’s a big drop compared with November 2017 when we also sold 70 condos.
Top Selling High Rise Buildings in November - Turnberry Towers and ONE Las Vegas tied for first place. Each sold 7 condos. Prices at Turnberry Towers ranged from $260K to $620K. At ONE Las Vegas the range was $295K to $504,900.
Third place was also a tie. Palms Place and MGM Signature each sold 5 condos.Prices at Palms went from $230K to $500K. At MGM the range was $220K to $450K.
Most Expensive Deals - Although sales volume may have dropped, we still sold 4 condos priced above $1 Million. Top price paid was at ONE Queensridge. Residence 1603 in Tower 1 was listed for $3,499,000. It sold for $3,167,500 after 105 days on the market. This 4968 sf condo boasted 3 bedrooms, 4 baths with incredible Strip and Mountain views.
Second and Third most expensive deals were both at The Waldorf Astoria. Residence #3506 was listed for $2.395M and sold for $2.05M. Unit 2507 was listed for $1.66M and sold for $1.6M.
Fourth place was also at CityCenter but in Veer Towers East. Residence 3208 was listed for $1.295M and sold for $1.1M.
Highest Price Per Square Foot - ONE Queensridge held the spot for highest price. It didn't get the highest price per square foot. That honor went to the condos at CityCenter. Waldorf Astoria’s #3506 went for $1224/sf. #2507 fetched $1011/sf. Veer Towers 3208 closed for $656/sf. ONE Queensridge #1603 residence closed for $638/sf., fourth place. The CityCenter location, design and amenities have established it as the top high rise.
Lowest Prices - We didn’t sell any high rise condos for less than $200K in November. Only two went for less than $225K. Unit 2112 at Trump was listed for $217,900 and sold for $217,900. Unit 518 at MGM Signature Tower 3 was listed for $234,888 and sold for $220K. Both of these condos were studio units.
Lowest Price Per Square Foot - Lowest price per square foot was #1603 at Turnberry Place Tower 4. This one closed for only $205/sf. It was followed by Turnberry Place Tower 2 Unit 404 at $220/sf. ONE Las Vegas had the third lowest price. Unit 615 sold for $223/sf.

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Las Vegas High Rise News - October 2018

Buyers have 343 options available in our top high rise buildings.That’s a jump from 320 last month but lower than the 363 luxury condos in our top building last year.

We sold 70 high rise condos in our top buildings last month.That’s up from 54 last month but lower than the 83 we averaged over the three months of Summer.It ties the 70 units sold in October 2017.

Top Selling High Rise Buildings in October -Juhl led our high rise buildings with 13 units sold.All but one of the 13 units sold were developer units that sold with zero days on the market.MGM Signature was second with 11 units sold.Third place was ONE Las Vegas with 7 closings.Five of those seven were previously unsold “developer” units that had zero days on the market. 

Most Expensive Deals - Five high rise condos sold for $1 Million or more, with three closing at more than $2.4M.All three of the top sellers were at Waldorf Astoria.It would seem that the change from Mandarin Oriental to Waldorf Astoria has not discouraged affluent buyers.  

Most expensive was unit 4102.This 2247 sf residence had 2 bedrooms, 3 baths.It was listed for $3.69M and closed for $3.6M after 51 days on the market.Second place was 3604.This 2563 sf home offered 2 bedrooms and 3 baths.It was listed for $3.15M and sold for $3M after only 6 days on the market.Third place was 3509.It offered 2 bedroom, 3 baths in 2094 sf.Listed at $2.72M, it sold for $2.45M after 63 days on the market.

Highest Price Per Square Foot - The three highest prices paid also took the honors of the three highest prices per square foot.Unit 4102 came in at an incredible $1602/sf.Unit 3604 closed at $1171/sf.Unit 3509 was a very close third at $1170/sf.Waldorf Astoria continues to fetch the highest price per square foot of our high rise buildings.

Lowest Prices - We actually had two condos that sold for less than $200K last month.Lowest price was unit 3509 at Allure.Listed for $190K, it sold for $188K after 16 days on the market.Second lowest price was 818 at Juhl was a developer unit.It sold for $190,900 with zero days on the market.Juhl #427 was third lowest price at $210,900 with zero days on the market. 

Lowest Price Per Square Foot - Lowest price per square foot was unit 604 at Allure.This one closed at $203/sf.It was followed by unit 1501 also at Allure.It closed for $211/sf.Third place was #1218 at ONE Las Vegas.It closed at $220/sf. 

Las Vegas High Rise News - September 2018

Buyers who are pursuing the Las Vegas High Rise Condo market have 320 options today. That’s up from 311 last month but down from 379 properties a year ago.
We only sold 54 luxury high rise condos last month. That’s a drop from 78 in August, 86 in July and 85 in June. However, it’s similar to the 55 that sold in September 2017. September closings typically go into contract the prior month. August seems to be a month that doesn’t attract as many high rise buyers.
Waldorf Astoria Luxury High Rise CondosTop Selling Communities in September - Several of our top communities sold about the same number of units last month. JUHL and The Ogden (both in the downtown area) tied for most deals with 6 in each community. All the units sold at JUHL were developer/previously unsold units. The Ogden had a couple of resales along with four developer units.
Tied for Second: Veers Towers, Turnberry Place, MGM Signature, Palms Place, ONE Las Vegas and Allure. Each building had five properties that changed hands.
Most Expensive Deals - Three high rise condos closed for $1 Million or more. Most expensive was the “Frank Sinatra” inspired penthouse 4307 at The Martin. It featured beautiful contemporary finishes and outstanding views. It included 3 bedrooms, 4 baths in 3653 sf of living space. Listed for $3.5M, it closed for $3M.
Second place was Veer Towers West Residence 3301. This one was half the size at 1797 sf with 3 bedrooms and 3 baths. It also featured contemporary finishes and spectacular views. It was listed for $1.675M and closed for $1.5M.
Third place was Turnberry Place, Tower 2. Unit 2503 offered 3 beds, 5 baths in 4007 sf of living space. This was a more traditional condo. Listed at $1.295M, it sold for $1.295M.
Highest Price Per Square Foot - Highest price per square foot was Unit 3301 at Veer Towers. It sold for $835/sf. Unit 4307 at The Martin was less at $821/sf. Third place was a studio, unit 1010 at Veer Towers East. It closed at $618/sf.
Lowest Prices - The three lowest priced closings were all above $200K. Lowest price was Unit 331 at JUHL. This studio was a developer unit that sold for $205,900. Second lowest was another Juhl studio. Unit 815 sold for $213,900. It was a developer unit. MGM Signature, Tower 2 Studio 916 was listed for $225K and sold for $215K.
Lowest Price Per Square Foot - Only one of our high rise condos closed under $200/sf in September. It was unit 204 at Allure and sold for $178/sf. ONE Las Vegas, unit 516 was second lowest at $224/sf. Allure Unit 2504 was third lowest at $227/sf.
Other High Rise News - The Mandarin Oriental was recently sold to the Waldorf Astoria. The signs have now been changed and the name has changed in our MLS. On a recent visit, we didn’t see a lot of changes except for the signs. We did notice a new vending machine with splits of champagne in the lobby.

Las Vegas High Rise News - August 2018

Looking to buy a high rise condo in Las Vegas? Today you have 311 condos to choose from in our top buildings. Only five less than we had last month.
We sold 78 luxury high rise condos in August. Down from 86 in July and 85 in June. We’re down to a 4 month supply of inventory. The inventory is beginning to favor sellers, especially in the affordable price ranges.
Top Selling Communities in August - Palms Place had the highest activity. 12 of their condotel units changed hands. That included an 1835 sf corner unit that combined a one bedroom suite and the adjacent studio. Closing prices ranged from $225K to $739K.
Second place was a tie between The Ogden and Turnberry Towers. 8 condos sold in each of those buildings. Closing prices at The Ogden started at $309,900 up to $479,900. At Turnberry Towers prices ranged from $270K to $620K.
MGM Signature was fourth with 7 closings. Prices ranged from $195K for a one bedroom suite on the third floor to $330K for the same plan on the 37th floor. Panorama Towers and Trump both had 6 closings for the month.
While it didn’t have the most activity in August, Turnberry Place had four closings that were all over $1 Million.
Most Expensive Deals - We sold 8 luxury condos for more than $1 Million in August. Most expensive was Turnberry Place Tower 4, Penthouse #3801. This top floor residence offered 5 beds/9 baths in 8205 sf with a private rooftop pool and spa. It was listed for $6.9M and sold for $5.5M after 244 days on the market.
Second place was Mandarin Oriental unit 3609. This one was listed for $2.85M and sold for $2.5M after 150 days on the market. Third place was Park Towers #703. Listed for $2.495M. It sold for $2.4M after 277 days on the market.
Highest Price Per Square Foot - The Mandarin Oriental Unit 3609 sold for $1194/sf. This property continues to fetch the highest price per square foot.
Second and third places were at nearby Veer Towers (also in CityCenter). Veer Towers West, Unit 3109 sold for $794/sf. Veer Towers East #2605 came in third at $691/sf. A total of 9 condos sold for more than $500/sf.
Lowest Prices - Bargain hunters closed on a one bedroom suite at MGM Signature Tower 3 for $195K. It was only on the third floor but that was a bargain. The MLS lists the property condition as “fair”. One has to assume it sold for such a low price because it needed work.
Next lowest price was Juhl #608. It was listed and sold for $211,900. Palms Place #19305 and Trump #2300 both sold for $225K.
Lowest Price Per Square Foot - Bargain hunters found three condos for less than $221/sf. Allure 2002 sold for $220.08/sf and Allure 1604 closed for $208.43/sf. Metropolis Unit 803 was the lowest price per square foot at $204.06.
Last month there were three condos that closed for less than $200/sf.

SOLD in August 2018

Las Vegas High Rise News - July 2018

Today’s high rise buyers have 316 options in our top buildings. Only 5 more than last month’s options.
We sold 86 luxury high rise condos in July, one more than in June. At that rate, today’s inventory would be absorbed in less than 4 months if no new properties came on the market.
Top Selling Communities in July - The condotel properties showed the highest sales volume. Signature at MGM had 10 closings. Palms Place and Trump tied for second place with 8 closings each. Investors seem to be confident that the Las Vegas tourism will do well over coming years.
In the residential buildings, Turnberry Place, Turnberry Towers and Panorama Towers all tied. There were 7 deals in each community. Veer Towers came in just behind them with 6 closings.
Most Expensive Deals - We sold 6 luxury condos between $1.028M and $1.675M in July. Top price was unit 1005 at ONE Queensridge Place Tower 2. Listed for $1.675M it closed for $1.675M with zero days on the market.
Second place was unit 207 at Park Towers. This one was listed for $1.695M and sold for $1.64M after 285 days on the market.
Third place was back to ONE Queensridge Place. Unit 705 in Tower 1 was listed for $1.525M and sold for $1.525M with zero days on the market.
The other three units were in Veer Towers, Mandarin Oriental and ONE Las Vegas. It's the first time a condo at ONE LV closed for more than $1 Million.
Highest Price Per Square Foot - Mandarin Oriental continues to command highest prices per square foot. Unit 2611 at The Mandarin closed for $929/sf in July. It was followed by unit 2904 in Veer Towers West at $632/sf. Trump had four studios on the 56th floor that closed at $627/sf.
Lowest Prices - We still see some bargains in the market. Allure had two bargains last month. Unit 911 was listed for $215K and sold for $200K after 35 days on the market. Unit 2209 was listed for $178,500 and sold for $176K after 127 days on the market.
Lowest Price Per Square Foot - Three of our high rise condos closed for less than $200/sf. This is an important figure because you simply cannot build a high rise condo for this price. Biggest steal was unit 911 at Allure. It closed at $183/sf. It was followed by unit 204 at Turnberry Place Tower 1. This one closed at $198/sf. Next was Turnberry Place Tower 4 unit 803. It sold for $199/sf.
The high rise market is improving after years of over-supply but prices aren’t close to the peak prices.

Las Vegas High Rise News - June 2018

Today’s High Rise buyers have 311 high rise options available in our top high rise buildings.That’s up from 293 last month.

We sold 85 luxury condos in those same buildings.That was a nice increase over 70 the month before and 66 the month before that.If we continued selling 85 per month (which isn’t likely), today’s inventory would be gone in less than 4 months. 

Top Selling Communities in June - ONE Las Vegas takes first place for the second month.This month they sold 13, 3 less than in May.Prices ranged from $289,900 to $509,900.

JUHL came in second with 10 units sold.Closing prices there ranged from $178,900 to $423,900.  

Turnberry Place came in third with 9 units sold.Prices ranged from $325K to $1,385,000.Turnberry Towers, across the Street was 4th with 8 condos sold.Closing prices started at $250K up to $638K.  

 Signature at MGM was 5th place with 7 units sold.Prices started at $258K up to $349K.ONE Queensridge Place was next with 6 condos sold.Prices here startedat $907K and went up to $4.15M.ONE Queensridge Place continues to rival the Mandarin Oriental for top prices.  

Highest Price - Nine high rise condos closed at more than $1 Million.Top price was for unit 1501 at ONE Queensridge Place Tower 2.List price was $4.5M when it closed for $4.15M.Also at ONE Queensridge Place, unit 602 was second most expensive with a list price of $2.3M and closing price of $2.3M.Third place was unit 103 at ONE Queensridge.It was listed for $2,499,000 and sold for $2.25M.Six more high rise properties sold between $1-$2M in June.

Highest Price Per Square Foot - Veer Towers West unit 3603 closed at $844/sf.It was followed by unit 1501 at ONE Queensridge Place which fetched $710/sf.Veer Towers East #2404 was third highest at $684/sf.

Bargains in Las Vegas High Rise Market - Lowest price per square foot was Turnberry Place Tower 3 Unit 302.This one closed for only $175/sf.The other condo that sold for less than $200/sf was Allure.Unit 1011 sold for $197/sf.

Only two high rise condos closed for less than $200K.Both were 566 sf, 1 bed/1 bath condos at JUHL.Unit 381 sold for $178,900 and unit 918 closed for $190K.These were both previously unsold developer units. 

Other High Rise News - The Mandarin Oriental brand is leaving Las Vegas.  MGM Resorts announced that Waldorf Astoria is buying the Mandarin Oriental.  It will accept Hilton Honors points and the domain WaldorfAstoriaLasVegas.com has been registered.  Property values should continue to be strong whether it's called Mandarin Oriental or Waldorf.  It offers a terrific location with luxury finishes.  It is rumored that Waldorf will be spending $50 Million to renovate the property.  Another reason we don't expect any negative impact on property values.

Owners at Turnberry Place had good news as well.  The moth-balled Fontainebleau structure has been sold.  The NY Hotelier who bought it will be working with Marriot to finish the structure and open The Drew.  No date has been announced for the completion but it will definitely be more appealing when lights are on.

Renovations are moving along at The Stirling Club in the midst of Turnberry Place.  Latest newsletter says the pool has been resurfaced.  Restoration of the tennis courts is almost complete.  Stirling Club will be partnering with Starbucks to open a coffee shop.  New owners have already invested more than $1 million  for repairs and renovations.  It should be back to its old grandeur in no time.

Las Vegas High Rise News - May 2018

Buying a Las Vegas High Rise?Today there are only 293 units available in the top buildings we follow for this report.That’s the first time we’ve been below 300 high rise condos in years.   

We sold 70 condos in the same buildings last month.Up from 66 last month.If we continued to sell 70 per month, today’s inventory would be gone in just over 4 months.Even in the high rise market, we’re beginning to see dwindling inventory.With less than a 6 month supply of inventory, even the luxury high rise market is beginning to favor sellers. 

Top Selling Communities in May - ONE Las Vegas sold 16 condos.Prices ranged from $288,754 for a 2 bedroom, 2 bath 1338 sf unit on the 8th floor to $949,900 for a 3 bed/4 bath 2872 residence on the 18th floor.

Second place was Trump with 8 unit sold.Closing prices started at $228K for a 533 sf studio on the 45th floor.Top price was $490K for a 910 sf one bedroom condo on the 50th floor. 

Third place was The Ogden with 7 units sold.Lowest closing price was $279,900 for a 1 bedroom/2 bath 847 sf condo on the 12th floor.Highest price was $574,900 for 3 beds/3 bath 1847 sf on the 16th floor. 

Highest Price - only one luxury condo closed for more than $1 Million in May.Unit 2404 at Turnberry Place Tower 2 sold for $1,060,000.The 4103 sf residence featured 4 bedrooms, 5 baths.It was listed for $1.2M and had been on the market for 30 days.

Price Per Square Foot - Top price per sf was at Vdara.Unit 16001 closed for $676/sf.Second place was unit 5027 at Trump closed for $556/sf.Third most expensive price per sf was also at Trump.Unit 5026 closed for $538/sf.

Bargains in the High Rise Market - Lowest prices per square foot were found at Allure where two condos closed for less than $200/sf.Unit 209 closed at $193/sf.Unit 2011 closed for $196/sf.

Las Vegas High Rise News - April 2018

Looking to buy a luxury high rise?You have 319 options available as of today.Down from 322 last month but up from 313 the month before.We sold 66 high rise condos in the top Las Vegas buildings last month.Down from 71 last month but up from the previous two months.  

Top Sellers in April - Five buildings tied for first place.Top sellers for April:Turnberry Towers, Turnberry Place, Trump, SKY and MGM Signature.Each of those properties had six transactions in April.  

This is the first time that Mandarin Oriental and Veer Towers weren’t leading the pack.Sales activity at Mandarin has been high in recent months.We reported that 20 units sold there in February.There are currently 13 condos listed for sale at The Mandarin and one that is in contract.Veer Towers only had four closings in April, down from 11 in March. 

Four luxury condos closed for more than $1 Million.Top price was unit 3503 at Turnberry Place Tower 2.The 4007 sf residence was listed for $2.95M and sold for $2.7M after 223 days on the market.Unit 3301 in Turnberry Place Tower 1 was listed for $2,108,888 and closed for $1,944,500 after 61 days on the market.This residence was 5779 sf with 4 bedrooms and 7 baths. 

One Queensridge Place Tower 2, Unit 403 was third most expensive deal.Listed at $1.250M the 2638 sf condo sold for $1.175M after 52 days on the market.Unit 301A at Park Towers was fourth place.Listed for $1.195M, it sold for $1.1M.   

Top prices per square foot - The Mandarin Oriental consistently gets the highest price per square foot.Since no units changed hands at Mandarin in April, the field opened up a bit.Vdara, also in CityCenter recorded the highest price per square foot.Unit 50014 closed at $824/sf.  

Surprisingly, Turnberry Place, Tower 2 Unit 3503 came in second at $674/sf.Veer Towers took 3rd and 4th withunit 1406 at $670/sf and unit 906 at $635/sf.In all, there were 11 high rise condos that fetched over $500/sf.It included units 3117 and 2911 at MGM Signature which closed at $596/sf and $572/sf.

Bargains in the High Rise Market - Only one high rise condo closed for less than $200/sf in April.  Allure's Unit 2010 closed for $188/sf.The other bargain in April was MGM Signature Tower 3.Unit 904 was the only high rise to close for less than $200K.Lucky buyers picked the 520 sf studio up for $189K.This was still a respectable $363/sf. 

Las Vegas High Rise News - March 2018

High rise buyers have 322 luxury condos available today.Up slightly from 313 last month.We sold 71 high rise condos in the buildings we follow in March.Up from 62 in February and 58 in January. 

Top Sellers in March - Veer Towers had 11 closings for the month.The CityCenter complex seems to be gaining in popularity.The Mandarin Oriental had 20 closings in February but was down to 5 closings in March.Both properties are ideally located and offer terrific amenities.

Veer was followed by MGM Signature and Trump.They tied with 8 closings in each of those communities.The Ogden was fourth with 7 condos sold.   

Four high rise condos closed for $1 Million or more.The highest priced closing was unit 1704-E at Park Towers.The 4903 sf residence sold for $632/sf.It was followed by Mandarin Oriental’s Residence 3103.Listed for $1.95M and closed for $1.95M with zero days on the market.  

Veer Towers East Unit 1508 was third most expensive.Listed for $1.213M it closed for $1.119M.Residence 3710 at The Mandarin Oriental was listed for $1.2M and closed for $1.1M.

Highest price per square foot continues to be found at Mandarin Oriental.Unit 3103 fetched $1180/sf.Unit 3710 sold for $995/sf.Unit 3211 sold for $873/sf.   

Bargains are still to be found - Five condos sold for less than $200/sf.The lowest price was unit 405 at Metropolis.It went for $187/sf.It was followed by Unit 1602 at Allure which closed for $193/sf.Unit 1408 at Allure and unit 501 in Tower 2 at Turnberry Place both closed at $194/sf.Unit 407 at Allure came in at $196/sf.

Las Vegas High Rise News - February 2018

We only have 313 high rise condos for sale in the top buildings which we follow for this report. Not much change from 314 last month. Still down from 354 the month before. First time it’s dipped under 300 in years.
We sold 62 high rise condos last month. Up from 58 in January but still lower than the 77 sold in December and 70 last November.
Top Sellers in February - The Mandarin Oriental blew everyone away with 20 luxury condos sold.  Prices ranged from a low of $850K to $4.3M. Three of them closed between $2.1M and $2.7M. The next two closed at $1.65M and $1.4M. Several of the closings, especially in the lower price range appear to have been part of a package deal. Those were only in the MLS 0 days and were sold by the same LLC.
The MGM Signature was second place with 9 condos sold. Third place was The Martin with 6 condos sold. Interesting trend in that all these properties are South Strip. The South Strip should do well over coming years. Nearby T-Mobile Arena and the Raider Stadium arriving in 2020 will make it a great location.
Top prices continue to be found at The Mandarin Oriental. All twenty of the luxury condos sold at The Mandarin went for $769/sf or more. Four of them closed for more than $1000/sf. Top price was $1434/sf for unit 2403. The 2998 sf condo featured 2 bedrooms and 3 baths. Second place was unit 4102. This 2247 sf condo closed for $1202/sf.
Bargains - Only two high rise condos closed for less than $225/sf. Unit 603 at Turnberry Place Tower 1 closed at $203/sf. Unit 502 at Turnberry Place Tower 4 closed at $204/sf.

Las Vegas High Rise Condos SOLD February 2018

Las Vegas High Rise News - January 2018

We only have 314 high rise condos for sale in Las Vegas’ top high rise buildings. That’s down from 354 last month and 363 the month before. The number of condos that closed in January was also down. We sold 58 compared to 77 in December and 70 in November. The drop is probably seasonal but the declining inventory isn’t helping either.
Top Sellers in January - ONE Las Vegas on the South Strip took first place with 7 closings. Second place was a tie between Turnberry Place and Panorama Towers. There were 6 closings in each community. Turnberry Place has four towers and Panorama only has two. That gives second place to Panorama and third to Turnberry Place.
Las Vegas High Rise Price Trends - Seven of the luxury high rise condos sold for more than $1 Million. Three of them closed between $2.6M and $2.9M.
Top prices continue to be found at The Mandarin Oriental. In fact, the four most expensive condos were sold at the Mandarin. Turnberry Place, Veer and Trump took the three lower spots of the top 7 prices in January.
Price Per SF - The Mandarin Oriental also fetches the highest price per square foot. Three residences sold at the Mandarin with prices of more than $1100/sf. Unit 4707 closed at $1338/sf. Unit 4107 sold for $1200/sf. Unit 4602 sold for $1179/sf.
Lowest prices - Only one condo sold for less than $200K. Unit 309 at Allure was listed for $188K and sold for $185K.
Three condos sold for less than $200/sf. Unit 903 at Turnberry Place Tower 3 closed for $199/sf. Unit 309 at Allure closed for $185/sf. Unit 503 at Turnberry Place Tower 1 closed for $178/sf. I represented the buyers in that one and yes, they did get quite a good deal.

Las Vegas

2017

Las Vegas High Rise News - December 2017

We have 354 high rise condos for sale in Las Vegas top buildings.Down from 363 last month and 371 the month before.It appears the high rise inventory is gradually being absorbed.We sold 77 high rise condos in December, up from 70 in November.

Top Sellers in December - Trump and Veer Towers tied for most sold with 8 closings in each community.Advantage to Trump since it’s only one tower while Veer is two.Third place was Turnberry Place with 7 condos sold in its four towers.Fourth place was a tie between The Martin, Mandarin Oriental and Palms Place.

Las Vegas High Rise Prices - Eleven of the condos sold in December closed for more than $1 Million.In fact, 3 closed for more than $3 M with 5 closing in the $2-$3M price range.  

Top prices continue to be at The Mandarin Oriental.Unit 4702 was listed for $3.25M and closed for $3.35M Cash with only one day on the market.Unit 3808 at The Mandarin was listed for $3.5M and sold for $3.3M with 37 days on the market.Third highest price was at Veer Towers West.Unit 3602 was listed for $3.6M and sold for $3.1M after 108 days on the market.All the $1M plus sales were located in either The Mandarin Oriental (four units), Veer Towers (four units) and ONE Queensridge Place with 3 $1M+ closings.

Price Per SF - 20 luxury condos sold for more than $500/sf.Half of those topped $700/sf.4 of them were over $900/sf.Top three prices were unit 4702 at The Mandarin Oriental which closed at $1491/sf.Unit 4601 at The Mandarin Oriental came in second at $1199/sf.Unit 3808 at The Mandarin Oriental was third with $1134/sf.The Mandarin Oriental has established itself as the top high rise in town for luxury buyers. 

Lowest prices - Only 3 high rise condos were sold for less than $200K.Lowest price was unit 577 at JUHL.It closed for $182,900.Unit 1906 at SKY closed for $195K.Unit 631 at JUHL closed at $197,900. 

We had four condos that sold for less than $200/sf.Unit 1202 at Turnberry Place, Tower 3 closed at $169/sf.after 745 days on the market.Unit 304 at Turnberry Place Tower 3 came in at $180/sf.Unit 710 at SOHO Lofts came in at $186/sf.   

Las Vegas High Rise News - November 2017

The Las Vegas MLS has 363 Luxury High Rise Condos listed for sale.  A slight but steady decline from 371 last month and 379 the month before.  We sold 70 high rise condos in November, down from 78 in October but still a good month, especially when you consider price trends.

Las Vegas Luxury High Rise CondosTop Sellers in November - ONE Las Vegas maintained the lead with 11 condos sold.It was followed by a tie between Veer Towers and The Ogden with 8 closings in each of those communities.

Las Vegas High Rise Price Trends - Five high rise condos sold for $1.6M or higher. Three topped $2 Million.All three of the most expensive were at The Mandarin Oriental.Unit 3206 closed for $2.1M, Unit 4607 sold for $2.55M and unit 3808 closed for $2.9M.The other two high priced condos were at Trump and Veer Towers.

Top price per square foot - 18 of the condos that sold went for more than $500/sf, up from 14 in October.Three of the condos sold for more than $990/sf.  

All three were the $2M plus deals at The Mandarin Oriental.Unit 3206 closed at $1254/sf.Unit 4607 sold for $1177/sf and 3808 was $997/sf.The Mandarin continues to fetch the highest price per square foot of our high rise buildings.

Lowest prices - No high rise condos sold for less than $200K last month.The lowest prices were at Palms Place where three units came in for $212K and two at $220K.All three were studio units.

Only two high rise condos closed for less than $200/sf.Unit 804 in Turnberry Place Tower 2 closed for $180/sf.Unit 205 at Allure sold for $178/sf. 

High Rise Condos SOLD - November 2017

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Las Vegas High Rise News - October 2017

Las Vegas top luxury high rise buildings have 371 condominium homes listed for sale today.  Only a few less than the 379 available last month.  We sold 78 homes in those building in October.  Up from 55 in September and 66 the prior month.

Top sellers in October - ONE Las Vegas had the highest sales volume with 11 condos sold.  It was followed by Signature at MGM with 10 condos sold in the three buildings.  Veer Towers placed third with 9 closings.

The Ogden came in fourth place with 7 units sold.  The Martin, Panorama Towers, SKY and Palms Place tied for the fifth place.  Each sold 6 units in October.

Las Vegas High Rise Price Trends - Only two luxury condos sold for more than $1 Million in October.  Most expensive was Penthouse 6301 at Trump.  Listed for $1.85M, it closed for $1.638M after only 5 days on the market.  The 1735 sf penthouse was furnished and featured panoramic views of the Strip.

Veers Towers unit 3504 was listed for $1.695M and sold for $1.5M after 194 days on the market.  With floor to ceiling windows, it offered a view of the Bellagio fountains in 2216 sf of living space.

Top price per square foot - 14 condos sold for more than $500/sf.  7 of them topped $600/sf.  The top prices per sf were all at The Mandarin Oriental.  Unit 2505 went for $706/sf.  Unit 3801 sold for $692/sf.  Unit 2602 closed at $688/sf.  The Mandarin has established itself as "The" luxury residence in the heart of it all.

Lowest prices - two high rise condos sold for less than $200K.  Unit 218, a studio in MGM Signature's Tower 1 was listed for $189,888 and sold for $180K.  Unit 702 in Panorama Towers, Tower 2 was listed for $179,888 and closed for $180K.  The MGM condo was a traditional sale but the Panorama Towers condo was a short sale.

Only one high rise condo sold for less than $200/sf in October.  Unit 1015 at SOHO Lofts closed for $199/sf.

Las Vegas High Rise News - September 2017 

Looking to buy a Las Vegas high rise condo?As of today, you have 379 options in our top buildings.That’s only a slight decrease from 386 last month.We sold 55 luxury condos in September compared to 66 last month. 

Top sellers in September - Veer Towers took the lead again with 9 condos sold.Buyers who are interested in that location should make their move sooner rather than later.A few weeks ago when I was there, the on-site sales office was down to only 15 condos left.By now, it’s probably fewer.  

ONE Las Vegas was second place with 8 condos sold.Third place was a tie between Turnberry Place, Turnberry Towers, Signature at MGM, Panorama Towers and The Mandarin.Each of those buildings had five condos that sold.

Las Vegas High Rise Price Trends - Only three condos sold for more than $1 Million last month.The two top prices were at The Mandarin.Penthouse 4306 was listed at $4.995M and sold for $4.6M.Unit 3306 was listed for $2.05M and sold for $2M.ONE Queensridge Place took third place.Unit 404 was listed for $1,297,900 and sold for $1.1M.

Lowest prices were at MGM Signature where two studio units sold for $187,500 and $198K.Those were the only units to close for less than $200K in September.While their prices were under $200K, their price per square foot was still a nice $361 and $381.  

Lowest prices per square foot were at Turnberry Place.Unit 401 closed at $165/sf and unit 703 sold for $169/sf.Highest prices per square foot were at The Mandarin Oriental.    Unit 3401 closed at $692/sf.Unit 4306 fetched $1173/sf.Unit 3306 went for $1194/sf.

Las Vegas High Rise News - August 2017

Veer Towers High Rise CondosIf you’re looking to buy a high rise condo you have 386 units for sale in our top buildings.Up slightly from the 373 available last month.We sold 66 luxury condos in August.That’s down from the 79 in July and the 84 sold in June.  

Top sellers in August - Veer Towers had the highest number of closings with 12 condos sold.It was followed by MGM Signature with 10 units closing.Third place was a tie between Palms Place and ONE Las Vegas with each development selling 7 condos in August.

Las Vegas High Rise Price Trends

August was a good month for luxury condo sellers.Seven high rise condos sold for more than $1 Million with three closing above $2 Million.Most expensive was unit 4002 at The Mandarin.Listed at $2.75M the 2753 sf residence closed for $2.34 M after 100 days on the market.Second Place went to ONE Queensridge with unit 1202 in Building 2 closing for $2.2M.Listed for $2,299,900 the condo was only on the market 39 days. Third place was also at The Mandarin.Unit 4307 was listed for$2.35M and closed for $2.15M after 192 days on the market.   

Lowest prices were at JUHL and Allure.Two studios sold at JUHL for $169,900 and $179,900.A studio sold at Allure for $169,975.Otherwise, all the high rise condos sold in August were over $200K.

Las Vegas High Rise News - July 2017

 Inventory in Las Vegas top high rise buildings is at 373 condos for sale today.  That's up from last month when we reported 346 condos for sale.  Part of the jump is due to a change in the buildings we track for this report.  Until this month, we haven't included ONE Las Vegas and JUHL.  These buildings were turned into rentals during the recession.  In fact, the few owners who had closed on units in these buildings had difficulty selling the condos once so many of them were turned into rentals.  The investors in control of them are now selling the condos as tenants move out.  Therefore, we've added them to our reporting.

We sold 79 luxury high rise condos in July.  That's a drop from the 84 we sold in June, especially since the June figure didn't include the two newly added buildings.  ONE Las Vegas sold 11 units during the month.  JUHL sold 2.  Without their transactions, we would have only sold 66.  That's about even with the 67 we sold in the same month last year.

Top Sellers in July - Panorama Towers and ONE Las Vegas tied for highest sales volume with 11 units changing hands in both communities.  Signature at MGM was second with 8 units sold.  Palms Place and The Ogden tied for third with 7 units sold in each complex.

Las Vegas High Rise Price Trends

Only 3 luxury condos sold for $1 Million or more in July.  Most expensive deal was Turnberry Place Tower 2, Unit 3301.  This penthouse was listed for $5.5M and closed for $4.5M after 341 days on the market.  The Mandarin Oriental took second place for total sales price with unit 3807.  Listed for $1.475M, it sold for $1.275M.  While the total price paid was lower, the Mandarin condo fetched $805/sf.  The Turnberry Place penthouse was close at $779/sf.  Third place was ONE Queensridge Place, Bldg 1 Unit 601.  Listed at $2.35M, it closed for $2.235M or $466/sf. 

Las Vegas High Rise News - June 2017

Inventory in Las Vegas' Top High Rise Towers is down to 346 today.  That's a big improvement in the high rise market.  That's a drop from 370 last month and from 34% from the 529 luxury condos listed in July 2016.  

Sales volume is up too.  We sold 84 luxury high rise condos in June.  Up from 64 in May and 67 in June 2016. The increased sales volume over the past few months has brought our monthly average up to 76 units for the past year.  If sales continue at that rate, today's 346 condos would be absorbed in less than five months.

Turnberry Towers Las Vegas Luxury High RiseTop Sellers in June - Turnberry Towers was the top seller last month, with 9 luxury condos sold.  Second place was a four way tie between Palm's Place, MGM Signature, The Ogden and Veer Towers with 8 transactions in each of those buildings.  The Martin took third place with six condos sold.

Las Vegas High Rise Price Trends

The surplus inventory that has plagued our high rise market for years is finally being absorbed and prices are staying strong.  While the market is beginning to favor sellers, units that are priced at market value are selling quicker and for better prices.  An example is unit 808 at SOHO Lofts.  It was my listing and the seller was realistic.  Only three condos have sold in SOHO over the past year, including this one.  We used nearby Newport Lofts and JUHL to arrive at our price of $269K.  Within two days, we had two offers.  It sold for $270K cash and the buyer contributed to the seller's closing costs.  The building has eight units currently listed for sale.  They've sat on the market between 35 and 203 days.  

We sold seven high rise condos for $1 Million or more.  Four of the top prices were between $2M and $3.4M.  Three out of the top four were at Mandarin Oriental.  Unit 3808 with 2910 sf closed at $3.4M.  Park Towers had the second highest price.  Unit 1503 with 4903 sf closed at $3.375M.

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