May 18, 2009
Kenneth Lowman, Broker/Owner of Luxury Homes of Las Vegas reports that the first week of May has already brought six impressive luxury homes sales. Just as the stock market hit a bottom in March and has rebounded nicely in just two months time, it appears that the luxury real estate market in Las Vegas may be following suit.
The six sales range in price from $9,500,000 to $2,000,000 and two of them were at or above $700 per square foot. Five of the six sales were purchased with all cash. Three of the six sales were in The Ridges in Summerlin, two were located in Southern Highlands and one was in Lake Las Vegas. “The well qualified and able buyers are recognizing value and still seeking out luxury estates in the best locations throughout Las Vegas. These were all exceptional luxury homes and will no doubt become great values as the market continues to firm,” Lowman noted.
The $9,500,000 sale is the highest sale thus far in 2009. It was a speculative built custom home of 12,707 square feet situated on a one acre golf and strip view Homesite. It took just over six months time on the market to sell. “Sales like these will build buyer confidence and help us achieve more of the same. I think we have seen the worst of this real estate downturn,” Lowman remarked.
The Broker/Owner of Luxury Homes of Las Vegas, KennethLowman 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 the marketing and sales of luxury homes in and around Las Vegas. He can be reached at 702-216-4663 or firstname.lastname@example.org or on his website at www.luxuryhomesoflasvegas.com.