Las Vegas 2020 Year End Real Estate Market Report

Page 1

insight LAS VEGAS | YEAR END 2020



table of contents 6

globally connected

8

by the numbers

14

news + notes

16 communities 25

golf course living

28

verticals

37

listings of distinction


about us

At Synergy Sotheby’s International Realty we take great pride in presenting you with current trends and developments affecting luxury communities of Las Vegas and the surrounding areas. This report represents a consolidation of local real estate knowledge and an in-depth analysis of market data

MANAGING BROKER

to bring you the most useful insights as they emerge

Thomas Marsaw

in the region. GENERAL MANAGER

In addition to offering general statistics related to the overall market, the report contains valuable information developments

concerning and

Las

Vegas’

neighborhoods.

hottest

Particularly

noteworthy is the large-scale growth in the city with

Kyle Northup DESIGNER

Lindsay Rohlfsen PHOTOGRAPHY

JPM Studios

expansions and new developments, bringing with it many opportunities for clients to capitalize on future investments.

COPYWRITER

Melissa Whitaker

One of the many tools available to agents and brokers of Synergy Sotheby’s International Realty, we sincerely hope that this report will assist our clients in understanding Las Vegas’ expansive luxury real estate market. As an international luxury

FEATURE YOUR HOME IN THE NEXT ISSUE All listings and data are presented by Synergy Sotheby’s International Realty. To be featured by the only truly international real estate brand in Southern Nevada contact Kyle Northup | 702.360.1414 | kyle@synergysir.com.

brand, represented in 72 countries, with over 22,500 associates across 990 offices, we have the capacity to offer our clients a level of talent and marketing

ABOUT THE MAGAZINE

expertise unlike any other. Synergy Sotheby’s International Realty publishes Insight, a market report

Whether you are interested in learning more about current market conditions, or are considering

magazine each quarter. All materials are copyrighted and can not be reprinted or duplicated without permission, including photographs, artwork, designs and text. The publication is distributed without charge to readership throughout

representation in the sale of your home, please give

Southern Nevada. Additional copies and advertising information can be

us a call and we can discuss how Synergy Sotheby’s

requested by contacting Synergy Sotheby’s International Realty.

International Realty may be of service to you.

Address: 10100 W Charleston Blvd., 160, Las Vegas, NV 89135.

702.360.1414 | insight@synergysir.com

VIEW MORE PROPERTIES:

www.synergysir.com


introduction The Las Vegas market has changed dramatically over the last year. From the slow down we experienced during the height of the lockdown to the feverish sales pace of fall. We continue our effort to provide timely and accurate information for your consideration.

5


vegas born. globally connected.

1,000

23,000

1/3

Offices Worldwide

Associates Worldwide

Offices outside the United States

41.52M Property Views in 2020

114B

$

Total worldwide Sale 2019

45% International Visitors

a global connection When a home is represented by the Sotheby’s International Realty brand, it is presented to a highly–qualified global clientele through exclusive channels and relationships. Our proprietary network of residential brokerage companies is located in 72 countries worldwide, making Sotheby’s International Realty a truly global real estate brand.

i n s i g h t – 6 – Ye a r E n d 2 0 2 0


significant sales

significant sales. top 10 sales 2020

7

$14.5M

7 FALCON VIEW

$11.2M

750 DRAGON RIDGE

$11.2M

770 DRAGON RIDGE

$10.1M

5 PROMONTORY POINTE

$7.4M

11639 DISCOVERY CANYON

$7.4M

27 HAWK RIDGE

$7.3M

7 SABLE RIDGE

$7.3M

5228 SPANISH HEIGHTS

$7.0M

731 DRAGON RIDGE

$6.7M

48 PAINTED FEATHER


by the numbers. Single family homes |

*

**

Luxury is $750,000 and up

LUXURY SINGLE FAMILY HOMES**

ALL SINGLE FAMILY HOMES*

Distribution of Sales by Location

Distribution of Sales by Location

%

%

Descriptor

#

Descriptor

#

0% EAST 3

9% EAST 3,644

30%

HENDERSON

454

19%

3%

NORTH

49

18% NORTH

6,866

26%

NORTHWEST

400

21%

NORTHWEST

8,119

3%

SOUTH

45

9%

SOUTH

3,561

37%

SOUTHWEST

567

23%

SOUTHWEST

8,967

Distribution of Sales by Price

HENDERSON

7,202

Distribution of Sales by Price

%

Descriptor

#

%

Descriptor

#

51%

$750K - $999K

778

25%

$0K - $249K

9,735

26%

$1 - $1.5M

401

62%

$250K - $499K

23,774

9%

$1.5 - $2M

142

9%

$500K - $749K

3,332

11%

$2 - $5M

165

2%

$750K - $999K

778

2% $5M+ 32

1%

$1 - $1.5M

401

0%

$1.5 - $2M

142

0%

$2 - $5M

165

TOTAL 1,518

0% $5M+ 32

TOTAL 38,359

i n s i g h t – 8 – Ye a r E n d 2 0 2 0


1701 ENCLAVE DR | $12,950,000 | TOURNAMENT HILLS 4 Beds | 8 Baths | 13,349 Sq Ft | 1.94 Acres

NUMBER OF PROPERTIES SOLD ABOVE, EQUAL TO OR BELOW LIST PRICE*

DAYS ON MARKET BY PRICE RANGE*

$0k - $249k

$0k - $249k

$250k - $499k

$250k - $499k

<$100K

$500k - $749k $100K - $250K

$500k - $749k

$250K - $500K

$750k - $999k

$750k - $999k

$500K - $750K

$1 - $1.5M

$1 - $1.5M

$750K - $1M

$1.5 - $2M

$1.5M - $2M $1.5 - $2M $1M - $1.5M

$2 - $5M

$2M - $5M

$5M+

$2 - $5M $5M+

>$5M 0%

0%

0% 10%

20%

20% 30% less

40%

40% 50%

Equal

60%

60%

70%

80% 80%

90%

100% 100%

Greater

9

10%

20%

0 - 30

30 - 60

30% 60 - 90

40% 90 - 120

50%

60%

120 - 150

70% 150 - 180

80% 180+

90%

100%


by the numbers.

days on market report DAYS ON MARKET | SINGLE FAMILY HOMES Month

<30

30-60

60-90

90-120

120-150

150-180

180+

Grand Total

<30 (%)

January

1,198

624

368

183

131

62

95

2,661

45%

February

1,413

552

371

251

130

80

111

2,908

49%

March

1,927

479

295

230

145

89

119

3,284

59%

April

1,568

299

140

101

75

35

71

2,289

69%

May

1,265

388

114

59

43

28

57

1,954

65%

June

1,608

578

329

104

56

22

60

2,757

58%

July

2,196

690

428

247

103

55

95

3,814

58%

August

2,029

577

300

209

123

59

116

3,413

59%

September

2,585

579

247

140

114

71

99

3,835

67%

October

2,606

638

253

89

84

57

94

3,821

68%

November

2,415

632

283

117

72

34

91

3,644

66%

December

2,569

722

324

134

81

46

102

3,978

65%

Grand Total Row Labels $0k - $249k

23,379 0 - 30

6,758

3,452

1,864

1,157

638

30 - 60

60 - 90

90 - 120

120 - 150

150 - 180

1,110 180+

38,358 Grand Total

61% % under 30

5,522

1,907

949

537

296

183

340

9,734

57%

$250k - $499k

15,437

3,953

1,982

1,001

616

307

478

23,774

65%

$500k - $749k

1,817

629

325

200

154

78

129

3,332

55%

$750k - $999k

347

143

105

64

36

30

53

778

45%

$1 - $1.5M

160

69

51

26

30

20

45

401

40%

$1.5 - $2M

42

25

19

13

11

12

20

142

30%

$2 - $5M

45

29

19

21

12

8

31

165

27%

9

3

2

2

2

14

32

28%

$5M+ Grand Total

23,379

6,758

3,452

1,864

1,157

638

1,110

38,358

61%


VINTNER GRILL Vintner Grill is a lively American bistro nestled in Summerlin, Las Vegas’ premier community. From working lunches to formal dinners, casual date night to family celebrations, Vintner Grill’s pleasant and inviting ambiance makes it perfect for a variety of occasions. The menu features American dishes infused with flavors from Spain, France and Italy. The bistro’s compelling architecture combined with the simplicity of its modern décor gives the dining experience a sense of casual elegance. Vintner Grill also offers a beautifully appointed patio featuring two, illuminated cabanas where guests can enjoy their meal in a unique outdoor setting. In short, Vintner Grill is worth taking a brief trip “off the Strip” if you are looking for a neighborhood gem where the locals go.

702.214.5590 • 10100 W CHARLESTON BLVD 150 • LAS VEGAS, NV 89135 11


LIVE 552 S Stephanie St | Inside DragonRidge Country Club | 702.614.9100 macdonaldhighlands.com | synergysir.com


AT A HIGHER LEVEL We are proud to be the exclusive listing brokerage for MacDonald Highlands. An extraordinary master plan community 2,700 feet above the valley floor. Spectacular strip views and modern architecture are brought together with a five star country club offering the golf, swim, tennis and dining lifestyle you deserve. Luxury Homes | New Modern Customs | Luxury Townhomes Strip View Lots | Design & Build Your Dream Home


news + notes. Michele Della Valle on His Whimsical Jewels BY SOTHEBY'S | Sep 15, 2020 This September Sotheby’s is pleased to present a capsule collection of jewels created by renowned jeweller Michele della Valle. Ahead of the sale, we caught up with the jeweller to find out about his inspirations, favourite gems and the unique gift he gave to Sophia Loren. Sotheby's: Do you have a customer in mind when you're designing pieces? Michele della Valle: Not any longer. In the past I've been inspired by some great personalities that I have much loved, my myths. I published a book called Jewels and Myths, featuring Maria Callas, Queen Elizabeth II, Rudolph Nureyev, Sophia Loren, my mother and many others, dedicating a jewel to each one of them. Nowadays, it is the very stones I use that provide me with creative inspiration. S: What are your favourite gems to work with and has that changed over your years of experience? MdV: Many years ago my favourite gemstones were rubies and multicoloured sapphires. Today I no longer look at the value of a stone, but at its beauty. There are semi-precious stones that attract me and communicate strong emotions. I like color combinations and I don't hesitate to surround a precious emerald with beautiful amethysts . Green and purple is a wonderful juxtaposition! read entire story at sothebys.com

i n s i g h t – 1 4 – Ye a r E n d 2 0 2 0


Symbols of Power in Archaic Bronze Forms Chinese Works Of Art Dec 10, 2020 Bronze ritual objects bear the mystery of their origin. They invite you to consider how they might have emerged from an ancient tomb or a burial pit – coming to the surface perhaps when the topsoil erodes from millennia of rain and wind. These treasures are understood to be more than ornamental objects; they may be considered the height of metalcraft and artistic expression in an ancient period of history. The archaic bronze vessels reflect the spiritual aspirations from the early beginnings of the Shang and Zhou dynasties. While the precise meaning of the objects have obscured through the passage of time, they have become tangible symbols of the interaction between art and ritual. Having an essential function in sacred rites of leadership – of securing harmony between the spiritual and earthly realms – the bronze ritual objects took on the symbolic meaning of political sovereignty and the divine authority bestowed upon ancient rulers. Casting and molding methods during the Shang dynasty marked a significant innovation over the earliest bronze ritual vessels, which were forged by hammer. The new techniques gave rise to more sophisticated, large scale production, and the development of intricate designs and new forms... read entire story at sothebys.com

15


Only


communities

For Those With a Vision Your home is more than a building or an address. It’s where you experience life, family, connection, growth. Your home should be as exceptional as you are, and as you are going to be. For a lifestyle inspired by your potential, there is only Sotheby’s International Realty.

1198 MACDONALD RANCH DR | $16,900,000 | MACDONALD HIGHLANDS 6 Beds | 10 Baths | 12 Car Garage | 23,554 Sq Ft | 2.440 Acre


the ridges This private reserve of luxury homes, situated on 800 acres in the masterplanned community of Summerlin, is recognized as one of the most exclusive neighborhoods in the country. The Ridges presents stunning views of the Las Vegas Strip to the east, while on its western border lies the surreal beauty of the Mojave Desert’s Red Rock Conservation Area.

las vegas, summerlin & henderson

|

702.360.1414

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 62 $1,050,000 $2,452,656 $6,500,000 $434 89

2020 Change 86 39% $1,180,000 12% $3,000,307 22% $14,500,000 123% $490 13% 94 5%

red rock country club Set in the master-planned community of Summerlin on the very western edge of Las Vegas, Red Rock Country Club is one of the most exclusive addresses in the valley. Possessing not one but two signature Arnold Palmer golf courses, the private Mountain Course and the public Arroyo Course. The nearby Red Rock State Park provides inspiring natural beauty.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 67 $595,000 $1,148,293 $3,335,000 $298 82

2020 Change 99 48% $627,500 5% $1,218,104 6% $4,450,000 33% $314 5% 74 -10%

tournament hills Tournament Hills remains one of the most sought after addresses in the master-planned community of Summerlin on the western side of the Las Vegas valley. Tournament Hills is built on and around the Tournament Players Club Summerlin, the course famed as the site for Tiger Woods first professional victory. The residences of Tournament Hills are renowned for their luxury and opulence. Exclusively custom by design, Tournament Hills features homes ranging from the classic to the contemporary.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 6 $1,200,000 $1,615,000 $1,900,000 $269 48

i n s i g h t – 1 8 – Ye a r E n d 2 0 2 0

2020 Change 7 17% $1,625,000 35% $2,857,143 77% $5,600,000 195% $320 19% 134 180%


eagle hills Tree-lined sidewalks and manicured lawns are only some of the pleasant wonders of life inside the guard-gated community of Eagle Hills. Situated in The Trails within the master-planned community of Summerlin on the western edge of Las Vegas. Homes in Eagle Hills let you forget the surrounding desert landscape as few other communities can.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 11 $975,000 $1,293,460 $1,725,000 $257 79

2020 Change 9 -18% $1,175,000 21% $1,450,556 12% $1,700,000 -1% $286 11% 61 -22%

canyon fairways Appropriately situated for luxury and appropriately named for its convenience as it backs up to Tournament Players Club Las Vegas, a public course Golf Digest described as, “one of the best.� Pass through the 24-hour guard gated entrance and discover lavish homes set against amazing views of the Las Vegas Valley.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 11 $1,195,000 $1,580,591 $2,777,000 $313 74

2020 Change 10 -9% $1,200,000 0% $1,833,500 16% $2,795,000 1% $307 -2% 92 25%

bellacere Set behind a guard-gated entrance, Bellacere is a truly intimate community filled with a wealth of green spaces, which only fifty-four families can enjoy. Designed in a way so that most of the residences of Bellacere are situated far from the exterior boundaries, gives Bellacere a quiet, small town feel while outside the walls, a host of amenities and conveniences await in the master-planned community of Summerlin.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 4 $1,225,000 $1,645,188 $2,000,000 $315 112

2020 Change 6 50% $1,550,000 27% $2,370,833 44% $3,200,000 60% $358 13% 192 71%

19


mountain trails A community within a community, Mountain Trails resides in The Trails section of the master-planned community of Summerlin, long recognized as the pinnacle of Las Vegas living. Life at Mountain Trails begins by passing through the guard-gated entrance and takes residence on a path of unmatched possibilities.

las vegas, summerlin & henderson

|

702.360.1414

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 7 $980,000 $1,937,857 $3,490,000 $322 77

2020 Change 8 14% $1,183,700 21% $1,868,463 -4% $2,500,000 -28% $288 -11% 169 119%

palisades As its name implies, Palisades is a distinctive barrier to the common world. Drive through the guard-gated entrance and you’ll leave the world behind. Situated along the Tournament Players Club (TPC) Las Vegas Golf Course, Palisades provides an elevated sense of living and the views of the Las Vegas valley and the Canyon Fairways accentuate that feeling.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 18 $610,000 $980,556 $1,575,000 $242 70

2020 Change 13 -28% $615,000 1% $1,086,445 11% $1,999,999 27% $251 4% 35 -50%

vineyards The residences at Vineyards are for those seeking to elevate their lifestyle. Set amongst gently rising hills in the master-planned community of Summerlin in Las Vegas, The Vineyards represents the best semi-custom living has to offer. The community is highlighted by terraced walkways winding through green spaces and leading to three separate private squares with relaxing water features.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 10 $650,000 $1,070,430 $1,475,000 $260 60

i n s i g h t – 2 0 – Ye a r E n d 2 0 2 0

2020 Change 11 10% $780,000 20% $995,364 -7% $1,349,000 -9% $256 -2% 62 2%


willow creek When you enter the guard gated community of Willow Creek, there are 3 subdivisions within the gate. They are: Eden Ridge by Pulte homes which is a single story only neighborhood offering a semi custom product; Heritage Glen and Wood Glen both built by Toll Brothers offering larger tract homes; and finally a separate gated custom community within the Willow Creek guard gate known as Willow Falls. Willow Falls is completely custom and offers 80 home sites that are for the most part 1/3 acre. There is access to tennis courts, a basketball court, a play area, park, a beautiful paseo area and all Summerlin facilities.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 4 $524,950 $541,738 $584,000 $171 8

2020 Change 7 75% $470,000 -10% $559,571 3% $629,000 8% $176 3% 53 584%

country club hills Set along the Tournament Players Club (TPC) Summerlin Golf Course in the master-planned community of Summerlin, Country Club Hills is a collection of 170 semi-custom homes by one of Las Vegas’ most sought after, high-end builder, Christopher Homes.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 9 $710,000 $948,944 $1,365,000 $244 71

2020 Change 13 44% $811,800 14% $1,029,978 9% $1,415,000 4% $270 11% 67 -6%

queensridge Queensridge is an upscale development located on the west side of Las Vegas just east of Summerlin. It is comprised of about 800 acres of luxury living. As a part of the Peccole Ranch development it presents a European Countryside theme.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 41 $350,000 $781,241 $2,400,000 $208 73

2020 Change 57 39% $365,000 4% $984,421 26% $5,888,000 145% $222 7% 59 -19%

21


canyon gate country club Not far from Las Vegas, Canyon Gate Country Club offers terrific views and challenging play for golfers at every skill level. Well-groomed fairways and greens keep Canyon Gate Country Club difficult yet friendly, and the staff can offer tips and tricks for playing your best round. Canyon Gate Country Club is a terrific choice for your regular rounds of golf or a new destination for you and friends when visiting Las Vegas.

las vegas, summerlin & henderson

|

702.360.1414

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 22 $519,000 $1,029,468 $2,285,000 $218 97

2020 Change 27 23% $355,000 -32% $848,651 -18% $1,952,888 -15% $233 7% 72 -25%

southern highlands* Living in Southern Highlands means one of the nation’s top private golf courses is just steps from your house. Co-designed by the late legendary golf architect Robert Trent Jones Sr. and his son Robert Trent Jones Jr., the Southern Highlands Golf Course takes advantage of the surrounding mountain terrain to set up exciting shots on finely manicured fairways with picturesque water features. The warm, dry climate also makes it possible and enjoyable to spend weekends on the green any time of the year.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 45 $441,000 $1,396,924 $5,000,000 $281 96

2020 Change 83 84% $475,000 8% $1,724,221 23% $6,350,000 27% $311 11% 76 -20%

*country club only

spanish trail Since opening in 1984 Spanish Trail offers one of the Southwest's finest Country Clubs and we have focused on what every golfer is striving for - balance, tempo, consistency and relaxation. Featuring a 27-hole championship course has been the home to 5 PGA Tour Las Vegas Invitationals and offers the perfect combination of Country Club tradition and Resort living.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 38 $390,000 $685,666 $1,495,000 $203 74

i n s i g h t – 2 2 – Ye a r E n d 2 0 2 0

2020 Change 68 79% $277,000 -29% $723,990 6% $2,300,000 54% $205 1% 77 3%


spanish hills The community of Spanish Hills in Las Vegas, is an affluent borough famous for being home to a number of celebrities, business owners, and pro-athletes. Spacious lots and multi-million dollar custom homes offer peace and quiet while providing breathtaking views of Red Rock Canyon National Park and The Strip.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 15 $390,000 $2,419,667 $16,000,000 $284 121

2020 Change 4 -73% $402,888 3% $3,004,941 24% $7,300,000 -54% $297 5% 123 1%

macdonald highlands As the master listing agents for MacDonald Highlands we are honored to have an office within DragonRidge Country Club giving us unique insight into the MacDonald Highlands market. Shaped from the foothills of the McCollough Mountains, McDonald Highlands blends the organic with the epic. Placed on the southern edge of the Las Vegas valley in a suburb of Henderson, MacDonald Highlands is uniquely luxurious and distinctly lavish and home to the Dragonridge Country Club.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 42 $780,000 $2,234,334 $7,000,000 $379 120

2020 Change 49 17% $750,000 -4% $2,958,720 32% $11,250,001 61% $441 16% 149 23%

anthem country club Nestled in the foothills of Black Mountain, Anthem Country Club is the pinnacle of living in the master-planned community of Anthem. Meandering along the golf course, Anthem Country Club is a collection of upscale tract and custom homes amongst almost 5,000 acres of beautifully landscaped homes with a three-mile walking loop. # of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 100 $345,000 $941,407 $3,500,000 $274 62

2020 Change 123 23% $427,900 24% $1,131,108 20% $4,200,000 20% $287 4% 64 4%

23


seven hills

las vegas, summerlin & henderson

|

702.360.1414

As the Roman Empire was built upon its famed rolling hills, so too is the master-planned community Seven Hills, just south of Las Vegas and gloriously nestled against the magnificent McCollough mountain range. Travel along the rolling hills and one discovers a range of architecture from classic Tuscan to the ultimate in modern design. Elevated to afford wonderous views of the entire Las Vegas valley Seven Hills is home to the Rio Secco golf course designed by Rees Jones, as well as, an abundance of outdoor activities and amenities. # of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 182 $281,000 $709,670 $5,600,000 $209 54

2020 Change 229 26% $275,000 -2% $690,045 -3% $6,000,000 7% $218 4% 44 -17%

the fountains Known as one of the most prestigious addresses in the master-planned community of Green Valley in the Las Vegas suburb of Henderson, The Fountains community is an unexpected gem in the desert. Enjoying large, open lawns and tree-canopied streets, The Fountains is reminiscent of an east coast neighborhood.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 20 $675,000 $934,690 $1,300,000 $194 76

2020 Change 11 -45% $595,000 -12% $981,461 5% $2,025,000 56% $196 1% 86 14%

lake las vegas If there is one place to be a world away in the desert, that place could only be Lake Las Vegas. Surrounding a 320-acre shimmering lake, the resort community of Lake Las Vegas flawlessly blends luxury residential living with the finer aspects of commercial enticements and golf only minutes from Las Vegas.

# of Transactions Sales Price (Min) Average Sales Price Sales Price (Max) AVG $/SF AVG Days on Mkt

2019 103 $287,500 $692,953 $3,350,000 $233 71

i n s i g h t – 2 4 – Ye a r E n d 2 0 2 0

2020 Change 185 80% $300,000 4% $804,551 16% $6,500,000 94% $252 8% 71 1%


The leader in premium real estate, we deploy intuitive technology to deliver a truly personalized, clientdriven experience. With professionals in more than 70 countries and territories worldwide, we’re local everywhere, allowing us to walk alongside our clients at every stage of their journey. We know they expect us to be the first and the best in exclusive property. We deliver.


LIVE 2030 Lake Las Vegas Pkwy Henderson, NV 89011 synergysir.com | 702.360.1414


WATERFRONT We all have dreams and they are as vast and varied as the world is wide. But they all start with inspiration, and inspiration starts with your surroundings. That’s what home is. A sense of place. An amazing view. It’s all part of what makes a space a home, because your home is where you truly LIVE. Synergy Sotheby’s International Realty is proud to be the master listing agent for Lake Las Vegas. From waterfront lots to custom homes, our team of experts are here to help you find your dream lifestyle.


20

Fashion Show Mall

8

Gold Coast Caesars Palace

Rio

Palms

7

6

3

5

Monte Carlo NewYork NewYork

Venetian

Bellagio Cosmopolitan

Bally’s Paris

City Center T-Mobile Arena

4

Planet Hollywood

Mirage / TI

2

MGM Grand

Excalibur Tropicana Luxor as

eg sV

VD BL

La

Mandalay Bay

1

McCarran International Airport

LIVE HIGHRISE


17 18 13 10

Circus Circus Wynn / Encore

14 Stratosphere

Downtown

16

15

Sahara

11

Hilton

Riviera

12 Las Vegas Country Club

Las Vegas Convention Center Wynn Golf Course

Palazzo Sands Convention Center

9

Harrahs Imperial Palace Flamingo Bill’s

UNLV

Thomas & Mack Center

LEGEND 1.

ONE Las Vegas

6. Panorama Towers

11. Metropolis

16.

Turnberry Towers

2.

MGM Signature

7.

The Martin

12.

17

Newport Lofts

3.

Mandarin Oriental

8.

Palms Place

13. Sky

18. Soho Lofts

Regency Towers

4. Veer Towers

9. Park Towers

14. Allure

19. The Ogden

5. Vdara

10. Trump

15.

20. One Queensridge

29

Turnberry Place


waldorf-astoria As the most prestigious residential address on the Las Vegas Strip, The Residences at the Waldorf Astoria sets the standard for luxury highrise living. It is the residential jewel of City Center. We continue to see a tremendous amount of activity for this premier luxury tower with pricing more than $1,000/sf for the larger units. There are no signs of it slowing down with all the development in the area.

2019 18 $985,000 $2,556,049 $5,750,000 $1,206 78

2020 Change 16 -11% $950,000 -4% $2,306,875 -10% $4,500,000 -22% $1,157 -4% 61 -21%

park towers These two towers continue to serve as one of the most distinctive and exclusive highrise addresses, home to many of the most influential Las Vegas residents. This property doesn’t traditionally have much in the way of turnover.

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# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 6 $880,000 $2,088,333 $2,900,000 $585 258

2020 Change 2 -67% $1,625,000 85% $1,925,000 -8% $2,225,000 -23% $506 -14% 166 -36%

veer towers The iconic architecture and contemporary design of the Veer towers set these towers apart on the Las Vegas Strip. As a part of CityCenter, they enjoy all the benefits of their location and MGM’s new development, The Park, along with the T-Mobile Arena.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 35 $277,000 $673,758 $1,835,000 $575 104

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2020 Change 36 3% $225,000 -19% $616,233 -9% $1,950,000 6% $595 3% 109 4%


one queensridge place Dedicated to the most discriminating owners, One Queensridge Place serves as one of the very finest luxury residences in Las Vegas.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 20 $750,000 $1,899,375 $8,005,000 $468 73

2020 Change 10 -50% $615,000 -18% $1,555,500 -18% $4,000,000 -50% $459 -2% 154 110%

trump tower This classic and luxuriously appointed condotel is now coming into its own and reached stronger sales than in years prior. International buyers continue to show active interest in this property.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 25 $208,000 $381,912 $2,900,000 $471 86

2020 Change 27 8% $166,666 -20% $380,699 0% $1,680,000 -42% $438 -7% 131 52%

vdara With direct access to Aria and the Bellagio resorts, Vdara at CityCenter is poised to be one of the most desired condotels in the Las Vegas Strip corridor. Branded as a non-gaming, non-smoking luxury hotel, it is the first choice for visitors seeking a quiet retreat with direct access to some of the finest restaurants, entertainment, and shopping in all of Las Vegas.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 15 $360,000 $451,233 $600,000 $698 141

2020 Change 3 -80% $360,000 0% $641,667 42% $900,000 50% $791 13% 48 -66%

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mgm signature MGM Signature continues to be a dominant property of interest in the condo hotel market. It is likely we will continue to see more interest with the new developments surrounding T-Mobile Arena and the arrival of the Raiders.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 71 $230,000 $331,569 $737,500 $433 73

2020 Change 47 -34% $185,000 -20% $268,125 -19% $657,500 -11% $404 -7% 106 45%

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palms place Hip and modern is the theme of Palms Place and it continues to garner attention. It is a hot spot for those who want to own a bit of Las Vegas.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 44 $213,000 $618,251 $12,475,000 $439 65

2020 Change 50 14% $165,000 -23% $278,750 -55% $1,225,000 -90% $351 -20% 74 14%

sky las vegas Sky Las Vegas is a 45-story luxury high-rise condominium tower with 409 units. The north end of the Strip received a bit of good news recently with the Fontainebleau’s sale announcement, helping Sky, Allure and Turnberry Place.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 24 $232,500 $427,348 $1,850,000 $294 71

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2020 Change 18 -25% $243,888 5% $403,727 -6% $800,000 -57% $311 6% 91 27%


turnberry place The four towers of this prestigious enclave continue to be one of the premier residences of the Las Vegas Strip.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 61 $267,500 $743,669 $4,150,000 $294 73

2020 Change 41 -33% $335,000 25% $952,671 28% $3,750,000 -10% $317 8% 135 86%

turnberry towers The sister project to Turnberry Place overlooks the Las Vegas Country Club golf course as well as offering some amazing Strip views.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 46 $245,000 $459,860 $719,000 $365 66

2020 Change 45 -2% $250,000 2% $484,878 5% $715,888 0% $362 -1% 87 32%

allure This highrise tower benefits from being adjacent to the Sahara on the Las Vegas Strip and MGM Resorts’ outdoor festival space. One of the most affordable highrise opportunities on the Strip.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 38 $187,500 $275,142 $525,000 $239 72

2020 Change 22 -42% $195,000 4% $272,568 -1% $435,000 -17% $240 0% 69 -4%

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panorama towers The twin towers overlooking the world-class architecture of CityCenter is seeing more attention with the advent of the professional hockey team expansion in the T-Mobile arena and its surrounding restaurant/retail complex, The Park. All these new venues are within walking distance.

# of Transactions Sales Price (Max) Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 35 $254,000 $595,125 $2,400,000 $346 80

2020 Change 31 -11% $280,000 10% $526,319 -12% $1,650,000 -31% $337 -3% 89 12%

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the martin The sister project of Panorama Towers has stayed steady in its sales relative to last year while bolstering its average sales price.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 31 $320,000 $509,034 $1,100,000 $384 79

2020 Change 35 13% $300,000 -6% $507,094 0% $1,100,000 0% $392 2% 89 13%

metropolis Overlooking the prestigious Wynn golf course, these Art Deco inspired lofts have not had much activity as most owners have been holding on to them. These lofts have amazing views of the Las Vegas Strip and the Wynn golf course.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 4 $336,000 $499,625 $725,000 $241 71

i n s i g h t – 3 4 – Ye a r E n d 2 0 2 0

2020 Change 1 -75% $555,000 65% $555,000 11% $555,000 -23% $220 -9% 130 82%


regency

towers

These long-standing Vegas residential towers, located within the Las Vegas Country Club.This high rise tower offers breath taking strip, golf course and mountain views.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 29 $130,000 $314,056 $440,000 $181 83

2020 Change 14 -52% $139,000 7% $285,639 -9% $435,000 -1% $170 -6% 71 -15%

one las vegas One Las Vegas is located on the world-famous Las Vegas Boulevard just south of McCarran International Airport. This condo community offers a multi-floor fitness center, owner’s lounge and social area, and an elegant pool and spa complex.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 45 $282,000 $437,982 $1,175,900 $288 23

2020 Change 46 2% $190,000 -33% $407,113 -7% $800,000 -32% $272 -6% 58 154%

the ogden Bordering the newly redeveloped Fremont East Entertainment District, this development has been home to many of the people shaping the renaissance of the Las Vegas downtown. As downtown Las Vegas continues to evolve as the new epicenter for high tech businesses, special events and cultural activities.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 27 $260,000 $475,207 $780,000 $323 48

2020 Change 28 4% $260,000 0% $407,321 -14% $589,000 -24% $317 -2% 77 58%

35


newport lofts These contemporary lofts are the highlight of the downtown residential scene. Located in the renaissance of the downtown area.Featuring open floor plans owners have a view of the Las Vegas Strip and surrounding city.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 18 $250,000 $342,494 $550,000 $246 48

2020 Change 13 -28% $235,000 -6% $349,262 2% $550,000 0% $255 3% 46 -4%

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# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

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Leading the way in the downtown redevelopment, this loft development continues to play an iconic role in the next phase of the downtown renaissance.

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soho lofts

2019 6 $303,000 $341,167 $435,000 $234 55

i n s i g h t – 3 6 – Ye a r E n d 2 0 2 0

2020 Change 4 -33% $295,000 -3% $317,250 -7% $340,000 -22% $239 2% 68 22%


listings of distinction. 604 st croix $4,450,000 | 10,067 sq ft | 5 beds | 8 baths

702.360.1414 | s y n e r g y s i r. c o m

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listings of distinction. 8920 players club

702.360.1414

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s y n e r g y s i r. c o m

$11,375,000 | 21,835 sq ft | 11 beds | 16 baths

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With more than 23,000 associates in 1,000 offices in 72 countries around the world, Sotheby’s International Realty offers true international reach and the ability to expose the properties we represent to the most qualified people in the most influential luxury markets around the globe.

live global.

PALOS VERDES ESTATES, CA

NEW YORK, NY

LONDON, ENGLAND

2 Beds | 3 Baths $3,999,900 | ID: VREZ8N

2 Beds | 2 Baths $1,695,000 | ID:42QRR2

2 Beds | 2 Baths $2,419,246 | ID: S5QX4V

CHICAGO, IL

YORKVILLE, CA

EDWARDS, CO

3 Beds | 3 Baths $2,300,000 | ID: V3WNYQ

3 Beds | 3 Baths $4,998,000 | ID: J4PM2K

5 Beds | 6 Baths $4,693,245 | ID: YD8336

TONASKET, WA

SUGAR LAND, TX

ALAMO, CA

5 Beds | 5 Baths $4,990,000 | ID: 94FNQC

6 Beds | 7 Baths $4,900,000 | ID: JJPKHT

3 Beds | 3 Baths $5,000,000 | ID: FED2ZD

LEARN MORE AT SYNERGYSIR.COM 39


Summerlin • 10100 W Charleston Blvd., Suite 160, Las Vegas, NV 89135 • Next to Vintner Grill MacDonald Highlands • 552 S Stephanie St, Henderson, NV 89012 • Inside DragonRidge Country Club Green Valley • 120 S Green Valley Pkwy., Suite 154, Henderson, NV 89012 • Next to Whole Foods Lake Las Vegas •2030 Lake Las Vegas Pkwy, Henderson, NV 89011 • Next to The Westin

6 CONTINENTS • 72 COUNTRIES • 1,000 OFFICES • 702.360.1414 • SYNERGYSIR.COM ®,™ and SM are licensed trademarks to Sotheby’s International Realty Affiliates, Inc. An Equal Opportunity Company. Equal Housing Opportunity. Each Office Is Independently Owned And Operated, Except Offices Owned And Operated By NRT Incorporated. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. * All information from sources deemed to be reliable although not warranted or guaranteed by or Sotheby’s International Realty® All information from MLS and Tax Records representing Single Family Homes only in MLS Areas 101-606


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