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Allure Las Vegas Condos - 1st Quarter Market Wrap Up

April 2017-ALLURE MARKET REPORT & BROKER OPINIONVIEW ALLURE CONDO FOR SALE LISTINGS HERE

Given the announcement that the Oakland Raiders will be relocating to Las Vegas in 2020, we have seen center strip condo sales take off just this past week.  Our listings at The Martin, Veer, and Panorama Towers are getting multiple showings daily, and there are a number of units under contract in these towers.
That said, the sales velocity at Allure has been sluggish this year.  Since January 2017, only three condos have closed escrow.  This equates  to 1 per month.  The prices of the sold units ranged from $155k for a studio to $305k for a 1563 sq. ft endcap unit at Allure.  This is just $195 psf - bargain basement pricing for any strip area high rise condo.
However, there are currently 23 condos listed for sale at Allure, two of which are multi million dollar penthouses.  And the good news is that 4 units are under contract in escrow. This signals that the sales velocity at Allure is follo…

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