Wealthy luxury home buyers are streaming to Las Vegas with many coming from high tax states like California, Illinois and New York. Last week I showed a $5.5 million luxury home in Las Vegas to five different out of state buyers in one week!
With our luxury home inventory at record lows, low interest rates and families placing new emphasis on their home environment our real estate market has boomed. Years ago it could take 12 to 18 months to sell a luxury home in Las Vegas in the $3 million plus price range. Now, many of these luxury homes are seeing multiple offers and selling in a matter of weeks. Demand is especially high for modern and contemporary luxury homes that have been built in the last 5 years. The out of state luxury buyers don’t like projects and want to simply move in and begin enjoying their new luxury home. 2020 will end up being my most profitable year ever in luxury home sales. Yet, with all the conditions still ripe for success, I’m excited to see what 2021 will bring.