Las Vegas real estate news looks great for condos on the strip of Las Vegas. Las Vegas Review Journal wrote an article about the good news this week and we echo the positive news at Highrises.com of Las Vegas. One of the buildings that is leading the way in this trend it Veer Towers who has sold over 70 units this year after being stalled in 2009 with only a third of the 670 units available sold. Veer even threw a posh party to celebrate the sales recently.
Luxury condos are in high demand in Las Vegas and buyers are snatching up the condos as the market is continuing to rise after the economic downturn in 2008 where many homes decreased in value. The average time that houses are on the market has been cut by 75% percent. As much as 60% percent of the buyers continue to be cash only buyers, creating a tight market where investors trump the market.
Not only is residential real estate making a rebound, but also commercial real estate, largely due to the economic recovery and decrease in unemployment rates. Another big factor that are increasing confidence in the strip real estate is a new MGM outdoor plaza coming to Las Vegas.
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