The latest data shows more las vegas strip condos for sale this month. There are 427 condos available in top buildings, up from 402 last month and 262 last year. However, sales have slowed down, with only 35 luxury condos sold in September. This is down from 60 in August and 64 in September 2023.
The market is still active, with 50-60 las vegas strip condo rentals sold each month over the past year. Signature at MGM, Palms Place, and Trump are the top-selling projects. These are condotels that attract buyers looking for short-term rentals.
High-end condos in CityCenter have seen the highest prices per square foot. Several units have sold for over $1 million.
The Resurgence of High-Rise Condos in Las Vegas
The high-rise condo market in Las Vegas is booming again. It’s as lively as it was in the early 2000s with the MGM Mirage CityCenter project. Now, luxury units are scarce, down by 40% since 2016. This has pushed up the average resale price by 32%, drawing in wealthy buyers and sparking demand for new projects.
Luxury Condo Inventory Down by 40% Since 2016
The number of luxury condos in Las Vegas has dropped by 40% since 2016. This shortage has made the market very competitive. The Veer Towers, built in 2010, are the only homes in the famous CityCenter, adding to the limited options.
Average Resale Price Rose by 32%
The demand for high-rise condos has skyrocketed, leading to a 32% increase in resale prices. Sky Las Vegas, with its 409 units and stunning views, is a top choice. Turnberry Towers, offering spacious units, has also seen prices soar.
| Project Name | Unit Sizes | Amenities | Average Resale Price |
|---|---|---|---|
| Sky Las Vegas | 409 units, 45 stories | Billiards room, putting green, SkyGarden luxury pool | $400,000 for 2-bedroom strip view |
| Turnberry Towers | 915 sq ft 1-bedrooms to 1,891 sq ft 3-bedrooms | Fitness center, concierge, private movie theater | $500,000 for 2-bedroom, 2-bathroom |
las vegas high-rise condos on the strip
Popular Existing High-Rise Condo Projects
The Las Vegas high-rise condo market has many popular projects. They cater to different tastes and budgets. Notable ones include One Queensridge Place, Panorama Towers, and Turnberry Place.
Other favorites are Turnberry Towers, Sky Las Vegas, and Allure. Signature at MGM Grand, Waldorf Astoria, and Soho Lofts are also popular. Veer Towers, Newport Lofts, and Palms Place are favorites too. One, Park Towers, The Martin, and The Ogden are also well-liked. Trump Tower and Vdara round out the list.
New Developments in High Demand
New projects are coming to Las Vegas, changing the skyline. The Cello Tower in downtown Las Vegas is one. Summerlin is also seeing new high-rise developments.
These new projects are drawing a lot of interest. They promise luxurious living with lots of amenities. Las Vegas is getting ready for a new look with these high-rise condos.
The Appeal of Vertical Living in Las Vegas
Living in a high-rise condo in Las Vegas is unique and appealing. Unlike Miami, where ocean views are a daytime luxury, Las Vegas shines at night. Its neon skyline is fun and vibrant, making it a great place to live.
The proximity to the Strip and downtown is a big plus. Plus, the low-maintenance lifestyle and access to amenities make it a top choice. Both locals and out-of-state buyers find it desirable.
Proximity to The Strip and Downtown
Residents of Las Vegas high-rise condos are close to the Strip and downtown. This means easy access to world-class entertainment, dining, and shopping. It creates a dynamic and immersive las vegas high-rise condo lifestyle.
Low-Maintenance Lifestyle and Amenities
High-rise condo living in Las Vegas is low-maintenance. Amenities like concierge services, fitness centers, swimming pools, and rooftop terraces are common. They cater to those seeking a benefits of las vegas high-rise condo living.
This lets residents enjoy a hassle-free lifestyle. They can focus on the vibrant cultural and entertainment offerings the city provides.
Upcoming High-Rise Projects Reshaping the Skyline
The Las Vegas high-rise condo market is set to grow a lot. Several new developments are coming soon. Cello Tower, a 32-story condo tower, is planned for downtown Las Vegas. It will have about 700 upscale units in both high-rise and low-rise buildings.
Summerlin, known for single-family homes, is now entering the luxury high-rise market. Two new projects are in the planning stages. These developments, along with others, will change the las vegas skyline changes. They will also raise the bar for new las vegas high-rise condo developments.
Cello Tower: A Towering Presence in Downtown Las Vegas
Cello Tower, a 32-story condo tower, will add luxury to downtown Las Vegas. It will have around 700 upscale units. These units will range from high-rise to low-rise, appealing to many buyers.
Summerlin Enters the Luxury High-Rise Market
Summerlin, known for single-family homes, is now exploring luxury high-rise living. Two new projects are underway. They will bring vertical living to the western Las Vegas valley, adding variety to the city’s housing.
These new las vegas high-rise condo developments will change the Las Vegas skyline. They offer high-end living options with modern amenities in the city’s heart. As the market grows, the city’s skyline will dramatically change. It will show the increasing demand for vertical living in this vibrant desert city.
Conclusion
The Las Vegas high-rise condo market is booming. More people want to live here, and there’s not much to choose from. This has led to the creation of new, fancy condos.
People love living in high-rise condos in Las Vegas. They’re close to the Strip, have easy-to-maintain features, and enjoy the city’s lively nightlife. With new towers being built, the market is set to keep growing.
Places like The Martin, Veer Towers, and One Queensridge Place were built in 2007. They show Las Vegas’ dedication to top-notch living. These condos have amazing amenities and stylish designs, making them very appealing.
Las Vegas is becoming more famous, and so is its condo market. With not much to buy and a lot of competition, new condos are key. They will meet the needs of many buyers, from first-timers to investors.
The future of Las Vegas condos looks bright. The city’s skyline is changing, offering a unique and exciting place to live.
