Las Vegas luxury homes are still among the most popular properties in all of Las Vegas. The list of various luxury homes can be found among condos to single-family homes throughout the Las Vegas area.

We all know the Las Vegas Real Estate market has been in a slump, so to speak, and many homes have gone into foreclosure. What does this mean for those looking to purchasing a luxury home in Las Vegas? Those looking for a home with all the amenities they desire with all the luxury they deserve can now found luxury homes quite a bit below the value they were at a few years ago.

At this time in Las Vegas, 70% of the single-family homes on the market a couple of months ago were repossessions and short sales. On the other hand, over the last 16 months all home prices in the Las Vegas are stabilizing. This means the bottom has hit and the homes are actually going back up in price. Even with the stats at 70%, there are many luxury homes available on the market that is not in this category and the number is slimming down when you look at foreclosures.

The U.S. Department of Housing and Urban Development Secretary Shaun Donovan has stated that the bottom has hit in Las Vegas the trend is going back up for prices of homes in the Las Vegas area.

With that said, Las Vegas luxury homes are still at the top when it comes to those wanting to live the life of luxury while living in a wonderful city. Las Vegas is in the #1 position on the US News Top 10 list for America’s 10 Best Undervalued Places. That is something worth bragging out.

Owning a Las Vegas luxury home will provide your family with a wonderful home in an area with year round excellent weather, all kinds of entertainment, and taxes that are second lowest in the US.

No matter what type of luxury home you may be searching for in Las Vegas, with one of our Las Vegas Realtors by your side you will find the luxury home of your dreams.

The largest year over year drop in home sales was seen in Las Vegas in July 2010 in two years. The median sale price fell to the lowest since February. There were 4,310 new and resale homes and condos that closed escrow in July in Clark County, which is down 22.2% from June and 18.8% from a year ago according to the MDA DataQuick of San Diego.

Home sales have decreased 8.1% during June and July starting in 1994 and this 18.8% decrease was the biggest for any month since April of 2008, which saw a drop of 19.7% from the previous year.

The home sales in July were the lowest seen since July of 2008 when a total of 4,134 homes sold.

Timing Is Everything

All this really means is now is the time to buy a luxury home in Las Vegas. The bottom has hit, new construction is on the rise, fewer foreclosures are seen, inventory is less, and prices are going up.

So if you have been sitting on the fence about upgrading your home maybe it is time call the Las Vegas Luxury Homes Experts today at (702) 481-1889.

 

Realty ONE Group Las Vegas - The Apigo All Pro Team
2831 St. Rose Parkway, Suite 100 - Henderson, NV 89052 - Direct: (702) 505-2125