WSJ dice que Miami tiene 57 meses del inventario del Condo a vender
Fijado por Bruce Hiatt - el 7 de noviembre de 2007
Categorías: Condos altos de la subida
Wall Street Journal hoy dicho que el inventario de Miami de condos disponibles para la venta es por lo menos 57 meses. ¿Piense que es verdad para los condos altos de lujo de la subida de Las Vegas? Algunos de los medios quisieran que usted pensara tan. No incluso cierre.
El alto inventario de lujo del condo de la subida para la venta a lo largo de la tira primera y acerca a áreas de la tira de Las Vegas es una fracción del inventario Miami tiene. Por ejemplo, considere el ultra de lujo Cielo Las Vegas alta característica residencial del condo de la subida. Solamente el cielo está situado en la tira en el área primera. Eso está correcto, un total de 1 torre alta de la subida con una dirección de la tira.
El número total de los condos de lujo del cielo para la venta en fecha hoy es 35 gigantescos. Veamos. Ése es cerca de tres semanas del inventario en un mercado fuerte y cerca de 4 meses del inventario en un mercado suave. No suena como Miami yo pero la subsistencia de los medios que dice Miami y Las Vegas son iguales. Mientras la subsistencia de los medios que tuerce el cuadro de lujo del condo de Las Vegas entonces 4 meses en mercado se convierta en meses y más meses. ¿No deben los medios tener que pagar tal daño a los vendedores de lujo del condo de Las Vegas con tal divulgación incorrecta? Pregunta interesante. Por lo menos CNBC conseguido lo derecho con su difusión reciente sobre cómo es fuerte el mercado de lujo del condo de Las Vegas realmente está.
¿Usted piensa por la demostración justa el un condo alto de lujo de la subida en la tira en existencia que estoy pintando una comparación injusta? OK, let’s go to the prime Strip area and expand it to include the adjacent Strip luxury condos for sale counts. First, let’s look at the massive over supply we have in existing hotel condos for sale.
For luxury non-restrictive stay hotel condos currently on the market, we have a total of 148 across 3 towers. That’s it folks and those numbers are decreasing each week. That particular condo hotel is the beautiful ultra luxury MGM Signature and there are 8 under contract today. Sales are increasing and supply is reducing because smart buyers are grabbing the deals while they can. For days on market in a normal market for hotel condos, this would be about 4 months of inventory and in this slow market it is about 9 months or less. However, if the media keep distorting the Las Vegas luxury condo picture then 9 months will become 12 or more months.
Next, let’s count the luxury the luxury high rise condos in the near-prime Las Vegas Strip area. We have a total of 212 on the market. We have the luxury high rise Turnberry Towers with a total of 83 on the market across 2 towers. Turnberry Place, with its famous Stirling Club, has 127 for sale across 4 towers with 3 under contract. Park Towers, a very high end luxury condo high rise, has a whopping total of 2 on the market. So, we have a grand total of 212 Las Vegas luxury high rise condos in the prime Strip area available for sale. In a normal market, that would be about 6 months of inventory and in this slow market it will be about 9 to 12 months. If the media keeps hammering the Las Vegas luxury high rise condo market, then the months on market will extend for some time. It isn’t a fair picture.
See, the facts are quite a shocker. The media just won’t tell you what is really going on except for CNBC’s honest reporting of our luxury condo market. The media rather focus on getting ratings and selling magazines and newspapers by promoting the doom and gloom. Each day when such inaccurate reporting takes place, it has to be one of the factors in taking money out of the luxury condo sellers pocket. Such damage is irresponsible and incomprehensible but the public is not crying out for accurate real estate reporting. They need to start shouting now.
Did I tell you that sales continue very strong for luxury condos at MGM MIRAGE’s CityCenter in Las Vegas? They are and record prices are being set. Wait until those Las Vegas luxury condos get delivered in 2010. Then, we shall see how well the existing luxury condos along the prime Strip area perform since their price per square foot is a bargain in comparision to new construction prices now.
No wonder the media don’t want you to know these facts. For sure they don’t you to know Strip land prices have increased 8 fold over the past three years and no softening in sight.
Want to know more about these limited supply luxury high rise condos and hotel condos for sale in Las Vegas? Call Bruce Hiatt at (702) 456-7080 x201 or Simon Chen (702) 456-7080 x202.
Copyright 2007, Luxury Realty Group, Inc. All Rights Reserved.
Bruce Hiatt, Broker, CRS can be reached at 702-456-7080 x201.
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