Las Vegas Condos - South Strip Developments

I just returned from a quick trip out to Las Vegas to meet with some clients and tour a few developments.  Of course, the sales for Las Vegas condos have slowed a bit like in every other market, but as we all know...Las vegas is a completely different world!  Las Vegas will continue to grow and attract people from all over the world.  The enertainment industry will not slow down in this city and will continue to fuel job growth as will ongoing new construction of condos, homes and commercial buildings.

Local real estate expert and Senior VP of Investor Relations from Coldwell Banker, Shanda Sumpter, took us around to meet with developers from South Strip developments such as Loft 5 and One Las Vegas.  When you're there, the South Strip area doesn't look like much...but what you do see with just a little bit of "vision" is opportunity.  If you look at the city plans for the South Strip you will see many new Las vegas condos going up, new resorts, new entertainment centers, and so much more.  Shanda also mentioned that Las Vegas will be experiencing a housing shortage believe it or not on the coming years.  Much of this goes back to simple supply and demand.  With about 50% of the planned condo developments in Las Vegas cancelled, the city is not seeing the large flood of inventory that we thought would happen.  We will however continue to see more people moving to Las Vegas at a steady pace, so when we come out of this glut, there will be more people and fewer Las Vegas condos available.