Las Vegas Leads in Real Estate Market Recovery
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Las Vegas Leads in Real Estate Market Recovery

May 17, 2016 10:21 AM

A few years ago, home prices dropped and left Las Vegas slumping down on the real estate market. Right now though, Las Vegas luxury estate is being fueled with positivity as the state’s economy continues to grow in strength.

A favorable turn of events

For more than a year, the real estate market collapsed. Home prices fell by more than 60 per cent of their original prices and Las Vegas suffered one of the highest rates of foreclosed properties. The condominium market took the blow and thousands of apartments were left empty, as well. After five nightmarish years with the same scenarios, Las Vegas is now recovering its lucky streak as median house prices continue to rise. Sales for half million-dollar homes rose by 12.5 per cent just this year and affluent districts like Summerlin, Southern Highlands, and Henderson are some of the most popular destinations for luxury estate buyers.

What makes the news better is that home prices in about 20 cities in the US are increasing at a much slower pace – but not Las Vegas. It seems that the biggest gain in the comeback of the real estate market in the US is now centered in Las Vegas.

Buying properties in Las Vegas

The comeback of the booming real estate market in Las Vegas is another good reason to indulge and buy a property there. When it comes to comfort and the best home values, luxury estates in Las Vegas really deliver. Because of the strengthening economy and the number of people buying instead of renting, high end patrons are definitely in for condominium units and million dollar plus homes.

It’s true that the housing market in Las Vegas is still in its early stages. On the other hand, the rising prices and steady demand for property is a good place to start in making real estate investments. Recent reports indicate that the residential real estate sector is already stabilizing. Still, there are those who may be resistant to buying properties in Las Vegas due to several issues surrounding foreclosures, bank mortgages and house prices that a buyer should be aware of. But those potential concerns become secondary if you really want to live in a city that is globally recognized for high-end living and the most luxurious of lifestyles.

To give you an idea, you can already buy three-bedroom and four-bath houses with half to $1 million. $1 to $3 million houses can be as many as 4-6 bedrooms with 4-7 baths. And if you really want to splurge, then you may opt for our luxury houses priced above $5 million. Take advantage of this great news and make your pick of Las Vegas luxury estate from our homes in the Ridges, Queensridge, MacDonald Highlands, Seven Hills, Southern Highlands, Red Rock and Anthem Country Club.

For more information about luxury homes, click here.

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