Things Are Looking Up for Allure Las Vegas Condos!
Allure Las Vegas Market Update & Outlook - August 2016
The big news for Allure Las Vegas is that the Lucky Dragon Hotel-Casino is opening this year - adjacent to and to the West of the Tower. Read the News;
We do not have a Crystal Ball, but as a 44 year Las Vegas Resident, my instincts tell me this will be the venue that breathes the much needed freshness to the Strip's North end. It's been awhile since Las Vegas has had an awesome new Boutique Resort. One that offers freshly cooked seafood, Asian Style, and intimate gaming, is well poised to be a winner for locals and tourists alike. Perhaps the Lucky Dragon will bring back that "Old Vegas" vibe of great food, friendly dealers, and tables packed with action. My bet is that it certainly will. We have so many mega resorts - the Strip is ready for a more intimate boutique property sans night club crowd.
ALLURE LAS VEGAS MARKETS STATS:
There are 29 units on the market priced from $159k to over $1.7 million, with that Penthouse languishing on the market for years. The next highest priced unit below the penthouse is $699,999 and the one below that is $499k. Those available units speak volumes as to the nature of the inventory prices at ALLURE LAS VEGAS. Basically, these luxury condos are extremely affordable, with 27 units priced from $159k to $499k.
However, because of the on going Construction Defect Litigation suit - Cash is King, and only one lender will finance at Allure that The Stark Team is aware of - That being Nevada State Bank.
Interested Buyers should not let the on going litigation scare them. The same law firm that is conducting the lawsuit is doing SKY LAS VEGAS and THE MARTIN at this time and has won similar lawsuits at Turnberry Towers East and Panorama Towers, resulting in HOA's that are flush with cash to correct any concerning and cosmetic defects the lawyers experts have uncovered.
What's in Escrow at Allure ?- Pending Sales
What has Sold in Allure the Past 90 Days?
9 units have sold - priced from $154k to $286k. Pretty low prices for a Las Vegas High Rise Condo. The price per square foot ranged from $168 to $284. For those who are looking for a Las Vegas rental property or second home - these Allure Las Vegas condos seem to be a safe bet at these levels and given the supply. With sales velocity at 3 per month - and inventory at 29 - we know we can help interested Buyers find a great value. CONTACT THE STARK TEAM - CLICK HERE.