Las Vegas High Rise Condo Market

Posted by Debbie Drummond on Monday, November 9, 2020 at 3:31 PM By Debbie Drummond / November 9, 2020 Comment

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.

SOLD in October 2020:

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 shutdown. We 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 prices: Palms 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.

Top 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.

Top 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 Condos If 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.

Top 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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