looking for a deee-luxe apartment in the sky?

The condo market ain't all that, apparently. From the Las Vegas Business Press:

Condo market cools in second quarter

By TONY ILLIA

Las Vegas' overheated luxury condominium market cooled in the second quarter as a result of project cancellations and suspended sales. There were 135 projects proposed totaling 91,934 units at the end of June, yet only 14.6 percent of those units were actually under construction, reports Applied Analysis, a Las Vegas-based business advisory firm.

An estimated 6,900 units had suspended sales, while another 1,900 units had officially called it quits.

"It would be impracticable to believe the market could absorb the entire potential inventory in the market today," said Jeremy Aguero, principal of Applied Analysis. "Several projects have witnessed a material decline in the number of investor purchasers."

Speculative plans made-up 55 percent of the market in the second quarter. Only 2,300 units were already pre-existing, including Turnberry Place, Metropolis and Park Towers at Hughes Center. Pre-sales, meanwhile, accounted for 17.7 percent of market at the end of last month. Read more.