We recently profiled the Las Vegas real estate market and came to the conclusion that while Vegas is indeed having a few hard times right now, the robust tourism economy and the feeder systems that support it make Sin City a prime candidate for not only rebound, but potential future extreme growth.

In fact, a multitude of developments towards this growth are taking place right now.  Here’s where the action is taking place:

Continuing Commercial Developments

As we speak, many of the hot properties on the strip are undergoing total makeovers and huge additions.  And believe me, they would not be doing so if the future prospects were bleak.

Harrah’s Caesars Palace is undergoing a massive expansion with their new 23 story Octavius Tower project.  The Luxor property is also being upgraded and made over.  Prime strip property is continuing to sell for record amounts of money. 

Again, all of these factors sure help to make Vegas real estate look bright for the future.  Those employed by the new jobs created by all of the development will be purchasing homes and condos by the thousands, especially since the recent market conditions have helped to make the residential properties more and more affordable.

Residential Projects Continue To Soar

Big residential developments are in the works, also pointing to high expectations for the next few years.  Check out both the ultra luxury living Pinnacle Las Vegas and lofty living style juhl Las Vegas projects.  Both are currently in progress of construction and are excellent examples of the kind of large scale, but off strip, real estate projects Vegas is so well regarded for.

Improvements Enhancing Las Vegas Lifestyle and Entertainment

Also part of the Vegas downtown revitalization, a full professional sports arena could soon be a sure thing.  The area has been waiting quite some time for this type of development and its presence will also surely factor in to the overall real estate market. 

Other improvements to the communities within Vegas are further enhancing the concept of urban living.  And what better place than Vegas for urban living?

Again, Las Vegas real estate, especially the residential variety, has been put through the ringer lately, largely due to supply finally catching up to and outpacing demand.  Nonetheless, the growth cycle continues and the real estate market will inevitably pace right along with it.  For all involved, hopefully this time the whole process will be more steady and balanced compared to previous growth.

Viva Las Vegas!