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Las Vegas Luxury Home Market On The Move

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Kenneth Lowman, Broker/Owner of Luxury Homes of Las Vegas, announced that the Las Vegas luxury home market is moving briskly in 2014. According to data from the Realtor.com website, luxury homes are selling faster than last year. Listings under $1 million are on the market an average of 80 days while luxury homes priced between $1 million and $30 million are on the market an average of 180 days. Lowman gave two examples for the Las Vegas luxury home market. He recently sold a $1 million luxury home in Eagle Hills in just 3 days for the full asking price. In the affluent guard gated neighborhood, The Ridges at Summerlin, he listed a luxury home for $5.2 million dollars, had a showing the first day it was marketed and received an offer the same day. That same luxury home in The Ridges had been on the market for 202 days prior to selling in 2010 for $3,100,000. “We see luxury home buyers coming from not only all over the United States, but from all parts of the World. The local move-up luxury home buyer is back and the luxury home market seems to be hitting on all cylinders,” Lowman noted.

Lowman had his best sales year ever in 2013 and has 25 years of luxury home sales experience. Among his accomplishments are: $73 million in personal luxury home sales in 2013, $150 million in company sales, a new record for total luxury home units sold and an average sales price of over $1.2 million. Remarkably, Lowman noted, “I worked harder when the market was down in 2009 – 2012 and I think that the hard, smart work really paid off this past year as the Las Vegas luxury home market showed renewed signs of life. This was probably my most enjoyable year ever.” Most of the Las Vegas luxury home market saw price appreciation of approximately 30% in 2013, a refreshing change from the past four to five years of declines. “I owe thanks and gratitude to our many clients that have supported us and to my excellent team, the best in the marketplace,” Lowman stated. Because the Southern Nevada luxury real estate market pivots on Ken’s home sales, he’s perceived as a barometer for the national media and has been featured on “The Today Show,” “Fox Business,” “Nightline,” “EXTRA,” “FOUR HOUSES” and “Inside Edition.” Luxury Homes of Las Vegas is located at 7854 W. Sahara Ave., Ste. 100, Las Vegas, NV 89117. For more information, call 702-216-4663 or 866-210-7620 or visit www.luxuryhomesoflasvegas.com.