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Las Vegas Houses for Sale > Condos In Las Vegas

Facts About Condos in Las Vegas

Riding the Wave of Condo Living in Las Vegas NV

It's a fact. While the sticker price may be lower, condos in Las Vegas often cost more per square foot than single family homes.

However, the driving force behind demand for any of the condos in Las Vegas is job growth. Which explains why, for those focusing on appreciation the Vegas area has been ideal. Add a thriving local economy with a growing population of both young people and retirees to a relatively low supply of condos and the result is skyrocketing appreciation.

Still condo appreciation, even in the vibrant Las Vegas condo market, goes through cycles just like anything else.

Which is why some feel timing is often as important, if not more so, than location. Just keep in mind that predicting the peaks and valleys of condo prices, even of the condos near the Las Vegas strip or down town Las Vegas condos, is kinda like predicting the path of a tornado.

But if you insist, here are some of the predictors of future prices to keep an eye on…

Supply side factors:

Starts or number of new Las Vegas condos
New Las Vegas high rise condominiums projects
Preconstruction condo sales in Las Vegas NV
Overall number of condos on the market

Demand side factors:

Job growth
Number of relocations
Unemployment rates
Real estate investor activity
Length of time condos are on the market

Gut feel plays a role too. Seeing a sea of "For Sale" signs on street corners near condo complexes can give you an idea without looking at a single stat or fact about condos in Las Vegas. That seat-of-the-pants indicator alone can often tell you whether it's a good time to be a condo buyer or seller.

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