Your search results

Stellar Sales Results in the Luxury Market

July 14, 2008

Kenneth Lowman, Broker/Owner of Luxury Homes of Las Vegas announced stellar sales results in the luxury market for the first half of 2008. He closed over $30,000,000 in sales with 20 separate transactions. His highest sale was for $5,800,000 and he sold one home in just three days time. “We are about 50% ahead of our sales pace in 2007,” Lowman noted. “I attribute this to a great deal of hard and smart work as well as the continued strength of the luxury home market. Buyers and Sellers also realize the importance of teaming up with a true professional in today’s challenging real estate environment.”

The inventory for luxury homes has increased to 1221 homes for sale valued over $1,000,000 in the Greater Las Vegas Association of Realtors Multiple Listing Service. There were 306 sold in the past 12 months. In the ultra-luxury market, homes valued over $3,000,000, there are now 192 for sale with 43 selling in the past 12 months. With inventory at higher levels Lowman advised, “It is critically important that home Sellers team up with a specialist in their product type and marketplace that understands how to promote properties actively and aggressively. For example, I promote my website www.luxuryhomesoflasvegas.com very aggressively and see well over 120,000 page views per month from buyers all over the world.”

Though not every luxury home is selling, Lowman noted that the luxury homes that are priced properly, promoted aggressively and in the best neighborhoods still have steady demand. The Wall Street Journal Wealth report still shows more millionaires in America than ever before with their numbers doubling in the past decade. “I see a wide range of buyers coming from our local market, outside our state and even outside the country,” Lowman commented. “There is a significant number of wealthy people that recognize the advantages of living in Las Vegas and want to make it their home whether the market is stable or appreciating.”

Lowman has specialized in the Las Vegas luxury real estate market for 14 years and is considered one of the experts in the marketplace. He employs a staff of four to assist him in his marketing and sales and owns his own office building in the Coronado Bay Business Park. He can be reached at 702-216-4663 or klowman@luxuryhomeslv.com or on his website at www.luxuryhomesoflasvegas.com.