The city of Las Vegas, nicknamed Sin City, is internationally known for extraordinary entertainment, marvelous shopping, incredible nightlife and high stakes gambling. Las Vegas is one of the most popular luxury travel destinations in the world as it is packed with fun-filled attractions and activities that showcase luxury living at its best. This has made Las Vegas home to some of the most luxurious hotels and resorts around the globe that cater to the millions of travelers and tourists who visit the city all year round.
The Las Vegas Luxury Real Estate Market
Las Vegas is fast gaining popularity for something totally unrelated to gambling; its luxury real estate market! The Las Vegas luxury real estate market was one of the hottest markets in the United States in 2017 and this trend is expected to continue in 2018. In fact, Realtor.com, a premier real estate listings website, named Las Vegas as the number one real estate market to look out for 2018! According to a report by Home Builders Research and Applied Analysis, luxury homes for sale with price higher than $1 million are higher than ever in both the new-home and resale markets. This is saying something, especially in a city with a median property price of $300,000. Even luxury real estates for sale with prices between $700,000 and $1 million have reported strong sales between 2017 and 2018. Home Builders Research reported that there were over 470 luxury condos and home sales in 2017 of $1 million+ which represents a gain of 44% from 326 in 2016. There were also 875 sales of luxury homes of $700,000 and above, representing a gain of 55% from 566 in 2016. The market for new luxury homes for sale in Las Vegas is also growing strongly, 2017 saw over 129 sales on properties of $1million+ which was 34.4% higher than in 2016. International real estate investors are also looking for a piece of the pie as Las Vegas places no restrictions on foreign buyers and is ideally located with direct flights to New York (5 hours), London (10 hours) and Beijing (13 hours). The luxury real estate market has made having a reliable real estate agent a must when planning and negotiating a purchase. Experts predict that the Las Vegas real estate market is close to achieving long-term stability even though the city was one of the worst hit by the housing market crash. According to a real estate market report from Zillow, the Las Vegas luxury housing market is expected to see a price increase as availability decreases in 2018.
Why Should You Invest in Las Vegas Luxury Real Estate?
There are several reasons why many high-end buyers are considering investing in the Las Vegas luxury real estate market. The Las Vegas luxury real estate market boasts of some of the highest rated real estates for sale, from beautiful condos and penthouses with amazing views to sprawling custom-designed estates. According to Realtor.com, the economy of Las Vegas is expected to grow by about 8.7% in 2018, which is better than the average economic growth of 6.4%. This means that more people will move into the Las Vegas real estate market looking for places to live which is great for early investors. Las Vegas also boasts of some of the lowest real estate home prices and interest rates in the country! This has prompted many companies to move their headquarters to Las Vegas to take advantage of the low regulations and low state income tax. This has led to an increase in the number of jobs, with the job growth rate rising to 2.7%, which is better than the national average of 1.9%. Las Vegas unlimited tourism potential is also a major reason for investing in its luxury real estate market. There is virtually no off-season and an average of 43 million people visit Las Vegas every year for its numerous attractions.
Why You Should Hire the Right Real Estate Agent
If you are considering buying a luxury real estate property in Las Vegas, it is best to have the right real estate agent by your side. Real estate agents have the necessary education and experience to help you make the best decision on what real estate to buy or sell. Even better than any formal education is their intimate knowledge of the neighborhood, they can easily identify comparable sales and point you in the direction of bargain real estates for sale. Real estate agents also have a network of professionals who provide services that you will need likely need when buying or selling real estate.
Luxury Communities in Las Vegas
Summerlin ranks among the top master planned communities in the United States. The community features exclusive guard gated neighborhoods and custom luxury estate homes that are home to more Americans than any other master planned community. Summerlin community residents enjoy a full range of superb luxury amenities and incredible views of the surrounding areas such as Red Rock Canyon and enchanting views of the Las Vegas strip.
This luxury real estate community offers an incredible assortment of luxury homes and custom estates that raise the bar for luxury homes in Las Vegas. Forbes.com ranked The Ridges as one of the most exclusive luxury home communities to live in. The Ridges real estate community sits on over 800 acres of beautiful land in Las Vegas, the community is divided into 10 separate subdivisions, each with its own guarded entrance. Residents have access to the tennis courts, swimming pools, and ultramodern fitness center at the elite Club Ridges. Luxury homes in The Ridges can sell for $6,000,000 and as high as $28,000,000.
The MacDonald Highlands luxury community is a pinnacle of luxury real estate market in Las Vegas. This luxury real estate community is located on 1200 acres of beautiful foothills which are surrounded by the popular Dragon Ridge Golf Club. The luxury real estate features the amazing luxury estate homes that are on par with the finest in the world and includes a dramatic strip view, golf courses, and beautiful mountain views. Henderson is home to world-class luxury neighborhoods and amenities. In fact, Henderson luxury homes are often considered to be synonymous with the highest level of luxury real estates in the world. This gated community is located at the outskirts of Las Vegas and features world-class luxury estate homes and beautiful views.
This community is a gated estate composed of some of the most envious luxury real estate in Las Vegas. The luxury Summerlin neighborhood features beautiful tree-lined streets, a neighborhood park, and beautiful custom estate homes. Eagles Hills is nearby the popular Summerlin trail system, parks, and shopping centers within in the community.