The Las Vegas Valley is known as a suburban-style housing market, dominated by single-family homes and two-story, garden style condominiums. There is a fascinating exception to that characterization which is the handful of high-rises that began changing the skyline in the early part of this century. A majority of these are near the resort corridor, but, the South Strip and Summerlin also have examples of vertical projects.
The challenge in generalizing the high-rise market is the uniqueness of each project. They vary by on-site amenities, floor plan configurations, views, and building height. Additionally, factors like concierge and parking can mean a lot to some buyers. So instead of stating that the high-rise market averaged x or had a median price of y, we like to look at each building, with its own submarket with diverse offerings where buyer appeal is segmented across the vertical housing universe.
A brief look at the average price-per-square-foot (weighted) of each project in the graphic below reveals how building supply and buyer preferences manifest. Note that the leader of the pack remains Waldorf Astoria Residences, formerly The Residences at Mandarin Oriental. Note also the broad variance between the condo-hotels, which are some of the smallest units within Las Vegas Towers.