Las Vegas luxury condo prices are up per property management firm Northcap this month. The average price per square foot for a Las Vegas luxury condo sold in the second quarter of 2012 was approximately $180. That represents an 8.7 percent increase of the past twelve months in the price per square foot. At Luxury Realty Group, your Las Vegas luxury real estate brokerage, we’ve experienced similar data in our recent luxury condo sales. Does this mean Las Vegas has experienced a bottom in the luxury condo market? Maybe. One more quarter of favorable luxury condo real estate price increases will help us determine the direction our real estate market is heading. With Phoenix and California markets already showing favorable price increases, Las Vegas can’t be too far behind that trend.
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