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December 2017 | Las Vegas Real Estate Market Report


CRITICAL POINTS DECEMBER 2017

-31%

There are 31% less homes on the market then this time last year. This decrease in supply with consistent demand equates to rising prices.

10.2%

-46.4%

THE TOTAL MARKET

The increased demand coupled with the shortage of supply continues to move the median price up to $265,000 up 10.2% from the same time last year.

The months supply of inventory has dropped almost in half from this same time last year to 1.6 months.

“Consumers were even more optimistic in October than economists polled by Reuters expected. Consumer confidence rose to 125.9 in October, according to the Conference Board. The index ‘increased to its highest level in almost 17 years,’ Lynn Franco, Director of Economic Indicators at The Conference Board, said in a statement.” Michael Sheets CNBC

THE HIGH RISE MARKET

26.5%

The median sale price for high rises is up 26.5% to $369,900.

10.3%

6.5%

Demand in this segment has grown significantly with sales increasing 10.3% over this time last year.

82 units went under contract in November 6.5% more than this time last year.


THE LUXURY MARKET -4.2%

The number of homes available fell 4.2% compared to this time last year.

WE ARE.

THE VOICE OF LUXURY REAL ESTATE

94.4%

There were 70 homes under contract for an increase that is 94.4% over the same time last year.

41.3%

65 homes were sold over $750,000 which is 41.3% more than the same time last year.


DEFINITIONS WHY SUPPLY AND DEMAND? The supply and demand chart is crucial to see where the market is trending. If number of homes for sale is down, and number of homes sold is up, then pricing will increase as there is lower supply. If the number of homes listed is up and number of homes sold is down then pricing will decrease as there is limited demand.

WHY MEDIAN PRICE? If the median price is going up and supply is going down then you can expect the prices to rise even more. If the median price is going down, and supply is going down, then you can expect there to be an inventory shortage and pricing to increase.


STATE OF THE MARKET SINGLE FAMILY HOMES | TOTAL MARKET Market Dynamics

SUPPLY & DEMAND

Synergy Sotheby's International Realty

Supply & Demand - # Units (FS, UC, Sold) Nov-16 through Nov-17

KEY INFORMATION Nov-16

Nov-17

# Units Change

Percent Change

For Sale

11,787.0

8,131.0

-3,656.0

-31.0

Under Contract

2,238.0

2,578.0

340.0

15.2

Sold

2,478.0

2,472.0

-6.0

-0.2

MLS: GLVAR

Period:

Property Types:

Single Family Res: (Single Family Residential)

2 Years (Monthly)

Price:

All

Construction Type:

MLS Areas:

405, 504, 603, 404, 503, 602, 403, 502, 601, 204, 303, 402, 501, 203, 302, 401, 103, 202, 301, 102, 201, 101, 606, 605, 505, 604

Bedrooms:

All

Bathrooms:

All

Lot Size: All Sq Ft:

BrokerMetrics®

MEDIAN PRICE

All

1 of 2

All

12/05/17

Market Dynamics

Synergy Sotheby's International Realty

Information not guaranteed. © 2006 - 2017 Terradatum and its suppliers and licensors (http://www.terradatum.com/metrics/licensors).

Median Price (FS, UC, Sold) Nov-16 through Nov-17

KEY INFORMATION Nov-16

Nov-17

Median Price Change

Percent Change

For Sale

279,900

319,900

40,000

14.3

Under Contract

240,000

269,900

29,900

12.5

Sold

240,472

265,000

24,528

10.2

MLS: GLVAR

Period:

Property Types:

Single Family Res: (Single Family Residential)

2 Years (Monthly)

MLS Areas:

405, 504, 603, 404, 503, 602, 403, 502, 601, 204, 303, 402, 501, 203, 302, 401, 103, 202, 301, 102, 201, 101, 606, 605, 505, 604

Price:

All

Construction Type:

All

Bedrooms:

All

Bathrooms:

All

Lot Size: All Sq Ft:

All


STATE OF THE MARKET LUXURY SINGLE FAMILY HOMES | $750K AND UP Market Dynamics

SUPPLY & DEMAND

Synergy Sotheby's International Realty

Supply & Demand - # Units (FS, UC, Sold) Nov-16 through Nov-17

KEY INFORMATION Nov-16

Nov-17

# Units Change

For Sale

826.0

791.0

-35.0

-4.2

Under Contract

36.0

70.0

34.0

94.4

Sold

46.0

65.0

19.0

41.3

2 Years (Monthly)

Price:

Percent Change

MLS: GLVAR

Period:

Property Types:

Single Family Res: (Single Family Residential)

MLS Areas:

405, 504, 603, 404, 503, 602, 403, 502, 601, 204, 303, 402, 501, 203, 302, 401, 103, 202, 301, 102, 201, 101, 606, 605, 505, 604

$750,000 - $10,000,000

All

Bedrooms:

All

All

Bathrooms:

Lot Size: All Sq Ft:

BrokerMetrics®

MEDIAN PRICE

Construction Type:

1 of 2

All

12/05/17

Market Dynamics

Synergy Sotheby's International Realty

Information not guaranteed. © 2006 - 2017 Terradatum and its suppliers and licensors (http://www.terradatum.com/metrics/licensors).

Median Price (FS, UC, Sold) Nov-16 through Nov-17

KEY INFORMATION

For Sale Under Contract Sold

Nov-16

Nov-17

Median Price Change

Percent Change

1,150,000

1,190,000

40,000

3.5

942,450

1,016,500

74,050

7.9

1,092,500

975,000

-117,500

-10.8

MLS: GLVAR

Period:

Property Types:

Single Family Res: (Single Family Residential)

2 Years (Monthly)

MLS Areas:

405, 504, 603, 404, 503, 602, 403, 502, 601, 204, 303, 402, 501, 203, 302, 401, 103, 202, 301, 102, 201, 101, 606, 605, 505, 604

Price:

$750,000 - $10,000,000

Construction Type:

All

Bedrooms:

All

Bathrooms:

All

Lot Size: All Sq Ft:

All


STATE OF THE MARKET HIGH RISE | TOTAL MARKET

Market Dynamics

SUPPLY & DEMAND

Synergy Sotheby's International Realty

Supply & Demand - # Units (FS, UC, Sold) Nov-16 through Nov-17

KEY INFORMATION Nov-16

Nov-17

# Units Change

Percent Change

For Sale

752.0

567.0

-185.0

-24.6

Under Contract

77.0

82.0

5.0

6.5

Sold

68.0

75.0

7.0

10.3

MLS: GLVAR

Period:

Property Types:

High Rise: (High Rise)

2 Years (Monthly)

Price:

All

Construction Type:

MLS Areas:

405, 504, 404, 503, 403, 502, 204, 303, 402, 501, 203, 302, 401, 103, 202, 301, 102, 201, 101, 505

Bedrooms:

All

Bathrooms:

All

Lot Size: All Sq Ft:

BrokerMetrics®

MEDIAN PRICE

All

1 of 2

All

12/05/17

Market Dynamics

Synergy Sotheby's International Realty

Information not guaranteed. © 2006 - 2017 Terradatum and its suppliers and licensors (http://www.terradatum.com/metrics/licensors).

Median Price (FS, UC, Sold) Nov-16 through Nov-17

KEY INFORMATION Nov-16

Nov-17

Median Price Change

For Sale

389,900

419,900

30,000

7.7

Under Contract

329,888

379,450

49,562

15.0

Sold

292,500

369,900

77,400

26.5

2 Years (Monthly)

Percent Change

MLS: GLVAR

Period:

Property Types:

High Rise: (High Rise)

MLS Areas:

405, 504, 404, 503, 403, 502, 204, 303, 402, 501, 203, 302, 401, 103, 202, 301, 102, 201, 101, 505

Price:

All

Construction Type:

All

Bedrooms:

All

Bathrooms:

All

Lot Size: All Sq Ft:

All


NATIONAL NOTES DECEMBER 2017

Case Shiller

Year-Over-Year

PRICE CHANGES Case Shiller | Year Over Year Price Changes 5.9%

20 City Composite

5.9%

5.9% 5.8%

5.7%

5.8% 5.7% 5.6%

Jan 2017

Feb

Mar

Apr

May

Jun

Jul

Aug

S&P Case Shiller 11/2017

* 20 City Composite S&P Case Shiller 11/2017

ACTUAL YEAR-OVER-YEAR % CHANGE IN PRICE Actual Year-Over-Year % Change in Price By State

CoreLogic

CoreLogic


Forecasted % Change in Price FORECASTED YEARYear-Over-Year OVER YEAR % CHANGE IN PRICE By State

CoreLogic

CoreLogic

“Housing is not repeating the bubble period of 2000-2006.”

“...price increases vary unlike the earlier period when rising prices were almost universal; the number of homes sold annually is 20% less today than in the earlier period and the months’ supply is declining, not surging.”

David M. Blitzer Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices.


LIVE Lake Las Vegas, Nevada Gene Northup | 702.497.0300 Property ID: Q8LZZJ | 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 Sotheby’s International Realty®


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synergysir.com Green Valley • 120 S Green Valley Pkwy., Suite 154, Henderson, NV 89012 • Next to Whole Foods 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

6 CONTINENTS • 70 COUNTRIES • 880 OFFICES • LOCAL EXPERTS WORLDWIDE ®,™ 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 Gene Northup or Sotheby’s International Realty® All information from MLS and Tax Records representing Single Family Homes only in MLS Areas 101-606

Insight 12-2017  
Insight 12-2017