THE 2023 ANNUAL LUXURY MARKET REPORTS
RESIDENTIAL AND HIGHRISE
I take great pride in knowing and presenting you with solid data, analysis and insight about the luxury communities of Las Vegas and Southern Nevada. My goal is to help you navigate the moving and changing Las Real Estate market in real time in order to help you make the smartest and best informed decisions.
Luxury Real Estate can be a blend of art and science at the top of the market. The houses are custom, no two are the same, but they share the same overall marketplace and then have their micro-market community dynamic.
In the Las Vegas and Southern Nevada luxury residential real estate market,
noteworthy shifts occurred between 2022 and 2023.
-
Statistical data reveals a 19% decline in the total number of luxury properties sold.
- Despite this decrease, the average price of sold properties is increasing.
- Data shows a 65% increase in the average days on the market, suggesting a slower pace of transactions.
-
This shift likely indicates a maturing market where buyers exercise more caution and strategic decision-making.
- As buyers acclimate to the new normal of higher interest rates, high-end home seekers are indeed expanding their searches to our Las Vegas luxury real estate market.
As the pre-eminent and most trusted luxury real estate advisor in Las Vegas, I look forward to providing you and your family the finest real estate advice and service to you.
I hope that this compilation of research and perspectives, will help you as you look to invest and diversify your equity wisely in the year ahead.
Please click image to access and read the entire report
All My Best,
Kristen
