The Las Vegas high-rise condo market revealed a lot of resilience in 2022 by posting its second-highest number of closings in history—the top was in 2021. This market posted one of its highest annual prices per square foot.
A new report from Applied Analysis shows there were 944 sales of condo units among 21 towers tracked by the research firm, most of them on the Strip.
There were 618 closings in the first six months of 2022, but only 326 in the final six months, including 146 in the fourth quarter. The high-rise market, like single-family housing, was impacted by higher mortgage rates that impacted closings in the second half of 2022.
The following are the top resale condos in the luxury market in 2022.
A penthouse at Turnberry Place sold for $6.5 million and was the top resale in the luxury condo market. The three-bedroom penthouse unit on the 38th floor of Turnberry Place has 8,205 square feet on the inside and more than 10,000 square feet total when private terraces are included. The sale closed on May 5.
■ The second top sale of 2022 was last January on a 16th-floor unit at One Queensridge Place for $5.6 million. The four-bedroom unit measures 6,404 square feet.
This unit is one of four of this particular floor plan in the entire complex. The unit offers four bedrooms, a theater, and an office. It’s probably the single-best floor plan in all of One Queensridge Ridge.
■ In November, the third top sale of the year happened at the Waldorf Astoria, when a $4.9 million penthouse on the 47th floor closed.
The penthouse measures 2,126 square feet and has two bedrooms and three bathrooms. This penthouse has breathtaking panoramic views of the Strip, double master bedrooms, a den, an open layout, a gourmet kitchen, and top finishes.
■ The fourth top sale of the year took place in December for $4.4 million at One Queensridge Place. The three-bedroom unit with four baths on the 17th floor measures 4,879 square feet.
It has an oversized master bedroom with an additional 400 square feet of sitting area. The primary bedroom has a separate rain shower, jetted tub, and makeup table.
■ In February, the fifth-highest sale of the year closed at Turnberry Place for $4.4 million. The furnished penthouse unit on the 31st floor measures 5,609 square feet with five bedrooms and five baths. It showcases a 270-degree view of the Strip, downtown, and mountains. It has a bar, great room, office, and conference room. There’s a living
Keep in mind that whether you are interested in buying a home or selling a home, a Realtor should represent you– this person is working for your benefit and will help you navigate through the buying or selling process. We have celebrated selling both New and Resale Homes for over thirty years.
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The Smith King Team
