When is Las Vegas Real Estate Nearing Its Bottom?
Posted by Bruce Hiatt - August 21st, 2008
Categories: High Rise Condos
Timing is everything when it comes to Las Vegas real estate and everyone wants to know when is the bottom of the market.
When it comes to timing any market, supply and demand along with pricing gives great indicators of market direction. The Las Vegas real estate market is now reaching close to an eight month supply. As that supply dips to seven and then six months quite possibly by the end of 2008 or early 2009, expect to see significant interest in Las Vegas real estate from homes to high rise condos.
The second indicator of pricing is also one to monitor. Home prices continue to show weakness but the quality of what is available at low prices is decreasing. Likewise for luxury high rise condos like Sky Las Vegas, Turnberry Towers, Allure, Panorama Towers and Turnberry Place. There are a few good opportunities to buy in these premium luxury high rises with the inventory of such opportunities continuing to shrink each month.
If you are on the fence about buying Las Vegas real estate, ask to be placed on our market watch email list to be notified about good opportunities in your price range.
Bruce Hiatt REALTOR®, Broker can be reached at 702-456-7080 x201
Copyright © 2008 Luxury Realty Group. All Rights Reserved.
Disclaimer: All information in this post is subject to change without notice. Subject matter: is an opinion which may differ from the opinion of Luxury Realty Group LLC, is not guaranteed, may be time sensitive, and may be based on information collected from several sources which may or may not be reliable at the time of sourcing.
Bruce Hiatt, Broker, CRS can be reached at 702-456-7080 x201.
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All information in this blog is subject to change without notice. Subject matter is not guaranteed and is often considered time-sensitive. See DISCLAIMER.
Copyright © 2008 Luxury Realty Group LLC. All rights reserved.