Las Vegas Luxury Properties Link

With the over saturation of our market and the troubling credit market, many of my clients are looking for the best deal possible. Many sellers are clinging desperately to the prices of 2005, 2006 however our market has dipped below those prices in many areas. The luxury market has not felt the huge depreciation as much as the properties under $800,000, but if you look at the sales for this year compared to last it's definitely declining. Here are the stats from 2007:

• 80 Homes sold in 2007 over $1,000,000
• All 80 sold from October 2007 to December 2007. (I was a little shocked to see this figure. Not a single property sold the first 10 months of the year.)
• Average days on market in 2007 was 191 days
• Sale prices were on average 91% of the List price
• Average sales price of these 80 homes was $2,036,000
• Click here to View Luxury Properties Sold in Las Vegas in 2007

Here are the stats for 2008 year to date: 

• 189 houses sold YTD over $1,000,000
• Average days on market was 147(Sellers started to wake up to reality and price properties more realistically which reflects in a short marketing time)
• Sales prices were on average 89% of list price.
• Average sales price of these 189 homes was $1,693,494. That's a 17% drop in average sales price.
• Click here to view Luxury Properties Sold Year To Date 2008

The options for luxury properties right now are plenty. I've previewed many properties that are well priced, in great condition, and are ready to negotiate. If you'd like to search for your own home, click on the icon below. It's FREE and up to date with all current listings.  If you'd like me to send you weekly updates with the 10 best priced homes on the market, please click the contact me button: Or call me toll free 1-866-589-1646 or email me at felipe@felipecrook.com.  If you'd like to do your own search for properties in Las Vegas, start your search below:

Happy House Hunting. Felipe Crook Prudential Americana Group Realtors Las Vegas NV 89117