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First Quarter 2013 Million Dollar Home Sales Hot!

We have had very strong luxury home sales in the first quarter of 2013 for Las Vegas and Henderson, Nevada.  There were a total of 54 luxury homes sold at or over $1 million in the first quarter of this year.  This compares to just 33 luxury homes sold in the first quarter of 2012.  Just five of the fifty-four sales were distressed or bank owned sales, just under 10% of the total.  Sales of luxury homes have steadily improved throughout 2012 and 2013 as luxury home buyers have recognized that the market bottom is behind us.  Our available luxury home inventory has declined.  Interest rates are at all time lows.  Buyer psychology has improved.  The market is finally bouncing back nicely!  Below are highlights of the communities containing the majority of the luxury home sales in Las Vegas and Henderson, Nevada:

It’s interesting to note that approximately 95% of the luxury home sales are located in guard gated master planned communities.  For example, all of the sales in Summerlin, Las Vegas were in either Tournament Hills, Mountain Trails, Canyon Fairways, Eagle Hills or The Ridges; all guard gated communities.

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