The Martin Las Vegas - Strong Sales Continue Despite Construction Defect Litigation

January 2018 Market Wrap at The Martin

To see all Condos for Sale at The Martin

As we begin the New Year, the Martin sales continue to be strong as it is one of the most luxurious and well run high rise condos in Las Vegas. With an on going Construction Defect lawsuit, sales are limited to cash only, with only one lender that I am aware of making loans to primary and secondary home buyers.  That leaves the investors to be paying all cash,

How has this affected sales?  For current Martin condo owners, this is a good thing, as newly sold units are going into strong hands. NV STATE BANK is the only entity that we are aware of that is currently lending, and they require 20% down. While sales velocity may be slower than if there was no defect lawsuit on going, it still has been strong, 

In 2017, there were 34 condos sold ranging from $250k-$950K. 

Have a look at our most recent sale at The Martin:

This January, there are 18 condos for sale at The Martin and 6 currently in escrow.  Of the 18 condos fro sale at The Martin, 4 are penthouses ranging in price from upwards of $2.7 million to $3.5 million.  These penthouses have languished on the market, with a few of them listed for over a year.

The penthouses at The Martin Las Vegas were sold as grey shell units, and each Buyer finished out to his or her taste.  We have shown a few of these several times and general feedback has been that our clients felt they needed to refinish the units to their own taste. 

The Martin has one of the best HOA Boards in Las Vegas and a lot of new changes have taken place at the end of 2017, beginning of 2018.  Feel free to call us to discuss.



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