Page 1

INSI GHT Las Vegas 2019 | First Quarter


Green Valley Office

table of contents

MacDonald Highlands Office

Summerlin Office

Lake Las Vegas Office

6

globally connected

8

by the numbers

13

news + notes

16

communities

25

golf course living

28

verticals

37

top selections


#VEGASSTRONG


about us

At Synergy Sotheby’s International Realty we take great pride in presenting you with current trends

PUBLISHER

Gene Northup

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 to bring you the most useful insights as they emerge

MANAGING BROKER

Don Kuhl BROKER MANAGER

Brittany Northup

in the region. MANAGER

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

concerning

Las

Vegas’

hottest

developments and neighborhoods. 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


vegas born | globally connected

990

22,500

1/3

48.8M

Offices Worldwide

Associates Worldwide

Offices outside the United States

Property Views in 2018

108B

$

Total worldwide Sale 2017

65% 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.

6

i n s i g h t | first quarter 2019


significant sales

top 10 sales in Q1 2019 $6.0M

8101 OBANNON

$5.6M

1353 DILEVANTE

$5.4M

1210 MACDONALD RANCH

$4.0M

65 MEADOWHAWK

$3.6M

673 FALCON CLIFF

$3.4M

9813 MOON VALLEY

$3.3M

1504 VIEW FILED

$3.2M

20 VINTAGE VALLEY

1353 DILEVANTE | $5,600,000 | SEVEN HILLS

673 FALCON CLIFF | $3,675,000 | MACDONALD HIGHLANDS

$3.0M

15 QUINTESSA

$3.0M

9801 MOON VALLEY

9801 MOON VALLEY | $3,000,000 | MOUNTAIN TRAILS

first quarter 2019 |

insight

7


by the numbers Single family homes

*

Luxury is $750,000 and up

**

LUXURY SINGLE FAMILY HOMES** Distribution of Sales by Location

Distribution of Sales by Price

North

$750K-$1M

North West

$1M-$1.49M

South

$1.5M-$1.99M

South West

$2M-$4.99M

East

>$5M

Henderson

ALL SINGLE FAMILY HOMES* Distribution of Sales by Sales Price

Distribution of Sales by Location

<$100K $100K-$250K

North

$250K-$499K

North West

$500K-$749K

South

$750K-$1M

South West

$1M-$1.49M

East

$1.5M-$1.99M

Henderson

$2M-$4.99M >$5M North

North West

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

South

South West

Henderson

DAYS ON MARKET BY PRICE RANGE*

<$100K

<$100K <$100K

$100K-$250K

$100K-$250K $100K-$250K

$250K-$499K

$250K-$499K $250K-$499K

$500K-$749K

$500K-$749K $500K-$749K

$750K-$1M

$750K-$1M $750K-$1M

$1M-$1.49M

$1M-$1.49M $1M-$1.49M

$1.5M-$1.99M

$1.5M-$1.99M $1.5M-$1.99M $1.5M-$1.99M

$2M-$4.99M

$2M-$4.99M

$2M-$4.99M

>$5M

>$5M

>$5M 0%

10%

20%

30%

40%

Above

8

East

50%

Equal

60%

Below

i n s i g h t | first quarter 2019

70%

80%

90%

100%

0%

0%

10% 10%

20% 20%

30% 30%

40% 40%

<30<30 30-90 30-90

90-120 90-120

50% 50%

60% 60%

120-180 180+ 180+ 120-180

70% 70%

80% 80%

90% 90%

100% 100%


1602 VILLA RICA DR | $3,695,000 | SEVEN HILLS 5 Beds | 8 Baths | 8,166 Sq Ft | .69 Acre

first quarter 2019 |

insight

9


by the numbers | days on market report

DAYS ON MARKET Single Family Homes

Month

<30

30-90

90-120

120-180

180+

Grand Total

<30 (%)

July

3,085

845

105

72

74

4,181

74%

August

2,949

915

133

91

52

4,140

71%

September

2,254

747

99

63

31

3,194

71%

October

2,292

1,009

109

79

41

3,530

65%

November

1,788

1,012

104

76

44

3,024

59%

December

1,516

1,018

144

95

49

2,822

54%

January

1,157

956

182

135

39

2,469

47%

February

1,278

926

217

176

64

2,661

48%

March

1,780

1,025

291

248

104

3,448

52%

Grand Total

Price Range

18,099

<30

8,453

1,384

1,035

498

29,469

61%

30-90

90-120

120-180

180+

Grand Total

<30 (%)

>$5M

1

$2M-$4.99M

3

5

$1.5M-$1.99M

4

4

5

2

3

33%

3

6

22

14%

3

2

13

31%

$1M-$1.49M

16

21

9

5

9

60

27%

$750K-$1M

46

40

16

11

10

123

37%

$500K-$749K

156

164

45

48

31

444

35%

$250K-$499K

1,936

1,439

328

235

77

4,015

48%

$100K-$250K

877

465

74

71

9

1,496

59%

10

80%

<$100K Grand Total

8 3,047

2 2,138

477

378

146

6,186

49%

$6M

4

89135

30.8m

99

sale in Q1 2019

offices in southern Nevada

over $750,000

highest sale

homes

89135 was the zip code with the most luxury home activity. 19% of all sales over $750,000 were within 89135. The runner up was 89144 with 9%.

Sotheby’s Int’l Realty had a $30.8m sale in Singapore, the highest sale in the First Quarter 2019 in the network.

There were 99 homes over $1,000,000 sold in Southern Nevada in Q1 2019. 25 of which were over $2,000,000.

$6,0500,000 is the highest priced home to sell in the First Quarter of 2019.

With 4 offices in Southern Nevada, we are able to serve your needs no matter where you’re looking to buy or sell!


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


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

A Formidable Talent, Lee Krasner Never Stopped Inventing BY JOE TOWNEND | APR 12, 2019 n 1976, while cleaning out her studio, the painter Lee Krasner discovered some charcoal drawings she had made as a student 40 years earlier. By this time, Krasner had already created many of the works that would define her as one of the great Abstract Expressionists, alongside Willem de Kooning and Franz Kline. The drawings she found were figurative – mostly nudes created from life. After putting a few of them aside, she cut the rest up, carving them into strips until they were barely recognisable. The shards of these early, Cubist-inspired works became material for a new series of collages which Krasner exhibited the following year at Pace Gallery in New York. According to John Bernard Myers, an art dealer and writer who chronicled four decades of the New York art scene, Krasner stated at the time: “The first collage of the new work is called Imperative [1976] – meaning I experienced the need not just to examine these drawings, but a peremptory desire to change them, a command as it were, to make them new.” This process was not a new one for Krasner. She had been willfully destroying and recycling her art for decades, which is one of the reasons her surviving body of work is relatively small. Krasner’s destructive impulse was driven in part by her refusal to be known... read entire story at sothebys.com

Sotheby’s Crosses the Pond and Becomes the First International Auction House BY CHRISTIAN HOUSE | APR 12, 2019

A purchase, rather than a sale, changed Sotheby’s fortunes in the mid-20th century. In 1964 the company bought Parke-Bernet, America’s largest auction house. Founded in 1885, it had become a favourite destination for Manhattan’s high society and collectors. In acquiring the firm Sotheby’s became the first international auction house. The company already had a foothold in New York. For some time, Sotheby’s had sourced works in the US to sell in London, a strategy strengthened by the network of connections built by its chairman Peter Wilson during his wartime service in America. In New York, Wilson noted, you could find Impressionist paintings bought by Americans during the 1920s that had become priceless. In 1960, Wilson appointed Peregrine Pollen – an old Etonian, one-time chauffeur and exnightclub organist – as the company’s man in New York. “My first task was to find an office for Sotheby’s,” Pollen recalls. “I took a small one in the Corning Glass Building on 5th Avenue and was lent a room in the Yale Club to live in.” read entire story at sothebys.com

14

i n s i g h t | first quarter 2019


news + notes

Three Magnificent and Historic Jewels Rediscovered BY SOTHEBY’S | APR 12, 2019 S otheby’s Magnificent Jewels auction (17 April, New York) presents three pieces whose exceptional beauty is only second to their rare provenance. Step back in time to visit the origins of these jewels: a circa 1930 tutti frutti bracelet , an Art Deco Cartier brooch and a turnof-the-century demi-parure made by Paulding Farnham for Tiffany & Co. 1. A Tutti Frutti Bracelet from the Collection of Mrs. Cole Porter’s Niece Epitomizing the marriage of Eastern exoticism to Art Deco design, tutti frutti jewels by Cartier are held up as masterpieces of the jeweler’s art. After first being exhibited at the 1925 Exposition Internationale des Arts Décoratifs et Industriels Modernes in Paris, the style rapidly... read entire story at sothebys.com

Mark Rothko: A New Master with a Reverence for History BY ALEXANDER MORRISON | APR 10, 2019 I n the summer of 1959, Mark Rothko had a revelation. He was on the second of three long journeys he would take across Europe over 17 years, and he was enjoying a day trip to the ancient Greco-Roman site of Paestum. As he picnicked inside the ruins of the Temple of Hera II, two young Italian guides of his learned of his profession and asked if he was there to paint the temples. “I have been painting Greek temples all my life without knowing it,” the artist replied. These words may surprise the many who think of Rothko’s large, shimmering blocks of colour that dominated his later career. But as the Mark Rothko exhibition at the Kunsthistorisches Museum in Vienna shows, not only did the artist spend his early years making figurative work, but he drew extensively from the past throughout his career. “The history of art is feeding into his creative imagination right to the end,” says the exhibition’s curator Jasper Sharp, “even in the works that appear to be resolutely modern.” The show, which features 46 pieces created from the 1930s to the years leading up to the artist’s death, places Rothko’s oeuvre in the context of the museum’s extensive collection of antiquities and Old Master paintings... read entire story at sothebys.com

first quarter 2019 |

insight

15


communities


the worth of a home It can all be found in the details that truely define uniqueness. Details as simple as a centuries old fireplace that remains the historic prominance of a time past, or as grand as a rooftop promenade atop a landscape of city lights. So, to us, itâ&#x20AC;&#x2122;s not about the size of the property, the number of bedrooms, or even the price, but more about the distinct character that makes a home noteworthy of being called exceptional.

23 Summer House | $7,500,000 | Lake Las Vegas


las vegas, summerlin & henderson

|

702.360.1414

the ridges This private reserve of luxury homes, situated on 800 acres in the masterplaned community of Summerlin, is recognized as one 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 Desertâ&#x20AC;&#x2122;s Red Rock Conservation Area. 2019 Q1 Sales 11 Sales Price (Max) $4,000,000 Average Sales Price $2,036,955 Sales Price (Min) $1,050,000 AVG $/SF $416 AVG Days on Mkt 96

2018 Q1 Change 10 1 $8,900,000 $(4,900,000) $3,557,000 $(1,520,045) $1,075,000 $(25,000) $481 $(65) 106 (10)

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.

2019 Q1 2018 Q1 Sales 20 21 Sales Price (Max) $2,200,000 $3,780,000 Average Sales Price $1,025,925 $1,325,381 Sales Price (Min) $675,000 $600,000 AVG $/SF $298 $265 AVG Days on Mkt 108 70

Change -1 $(1,580,000) $(299,456) $75,000 $33 38

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. 2019 Q1 2018 Q1 Change Sales 2 2 0 Sales Price (Max) $1,500,000 $2,375,000 $(875,000) Average Sales Price $1,350,000 $2,087,500 $(737,500) Sales Price (Min) $1,200,000 $1,800,000 $(600,000) AVG $/SF $220 $378 $(158) AVG Days on Mkt 85 130 (45)

18

i n s i g h t | first quarter 2019


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. 2019 Q1 2018 Q1 Change Sales 3 2 1 Sales Price (Max) $1,725,000 $1,885,000 $(160,000) Average Sales Price $1,241,667 $1,625,000 $(383,333) Sales Price (Min) $975,000 $1,365,000 $(390,000) AVG $/SF $257 $296 $(39) AVG Days on Mkt 67 21 46

canyon fairways Appropriately situated for luxury and appropriately named for its convenience as it backs Tournament Players Club Las Vegas, a public course Golf Digest describes as, â&#x20AC;&#x153;one of the best.â&#x20AC;? Pass through the 24hour guard gated entrance and discover lavish homes set against amazing views of the Las Vegas Valley. 2019 Q1 2018 Q1 Change Sales 4 4 0 Sales Price (Max) $1,300,000 $1,900,000 $(600,000) Average Sales Price $1,140,000 $1,428,725 $(288,725) Sales Price (Min) $710,000 $1,189,900 $(479,900) AVG $/SF $275 $295 $(20) AVG Days on Mkt 52 53 (1)

bellacere Set behind a guard-gated entrance, Bellacere is a truly an intimate community filled with a wealth of green spaces, which only fifty-four families can enjoy. Designed in a way so 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.

2019 Q1 2018 Q1 Change Sales 0 0 0 Sales Price (Max) $- $- $Average Sales Price $- $- $Sales Price (Min) $- $- $AVG $/SF $- $- $AVG Days on Mkt - - -

first quarter 2019 |

insight

19


las vegas, summerlin & henderson

|

702.360.1414

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 as by passing through the guard-gated entrance and takes residence on a path of unmatched possibilities. 2019 Q1 2018 Q1 Change Sales 3 1 2 Sales Price (Max) $3,490,000 $2,000,000 $1,490,000 Average Sales Price $2,595,000 $2,000,000 $595,000 Sales Price (Min) $1,295,000 $2,000,000 $(705,000) AVG $/SF $409 $228 $181 AVG Days on Mkt 50 3 47

palisades As its name implies, Palisades is a distinctive barrier to the common world. Drive through the guard-gated entrance and youâ&#x20AC;&#x2122;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 Canyons fairways accentuate that feeling.

2019 Q1 2018 Q1 Change Sales 5 3 2 Sales Price (Max) $1,575,000 $1,400,000 $175,000 Average Sales Price $1,267,000 $1,151,667 $115,333 Sales Price (Min) $865,000 $830,000 $35,000 AVG $/SF $290 $220 $70 AVG Days on Mkt 120 26 94

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. 2019 Q1 2018 Q1 Change Sales 3 5 -2 Sales Price (Max) $1,082,000 $945,000 $137,000 Average Sales Price $921,000 $849,000 $72,000 Sales Price (Min) $806,000 $775,000 $31,000 AVG $/SF $213 $231 $(18) AVG Days on Mkt 88 60 28

20

i n s i g h t | first quarter 2019


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 offer 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. 2019 Q1 2018 Q1 Change Sales 1 1 0 Sales Price (Max) $725,550 $1,515,000 $(789,450) Average Sales Price $725,550 $1,515,000 $(789,450) Sales Price (Min) $725,550 $1,515,000 $(789,450) AVG $/SF $220 $288 $(68) AVG Days on Mkt 65 80 (15)

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 Vegasâ&#x20AC;&#x2122; most sought after, high-end builder, Christopher Homes.

2019 Q1 2018 Q1 Change Sales 2 1 1 Sales Price (Max) $965,000 $925,000 $40,000 Average Sales Price $907,500 $925,000 $(17,500) Sales Price (Min) $850,000 $925,000 $(75,000) AVG $/SF $275 $211 $64 AVG Days on Mkt 35 20 15

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. 2019 Q1 2018 Q1 Sales 10 14 Sales Price (Max) $1,080,000 $2,500,000 Average Sales Price $660,050 $848,871 Sales Price (Min) $392,000 $505,000 AVG $/SF $197 $210 AVG Days on Mkt 94 59

Change -4 $(1,420,000) $(188,821) $(113,000) $(13) 35

first quarter 2019 |

insight

21


las vegas, summerlin & henderson

|

702.360.1414

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. 2019 Q1 Sales 6 Sales Price (Max) $1,915,000 Average Sales Price $863,833 Sales Price (Min) $378,000 AVG $/SF $224 AVG Days on Mkt 85

2018 Q1 11 $1,448,800 $821,791 $390,000 $208 133

Change -5 $466,200 $42,042 $(12,000) $16 (48)

southern highlands Living in Southern Highlands means one of the nationâ&#x20AC;&#x2122;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. 2019 Q1 2018 Q1 Change Sales 23 37 -14 Sales Price (Max) $3,200,000 $7,250,000 $(4,050,000) Average Sales Price $1,044,539 $1,148,538 $(103,999) Sales Price (Min) $503,000 $522,500 $(19,500) AVG $/SF $235 $221 $14 AVG Days on Mkt 96 96 -

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 suburb of Henderson, MacDonald Highlands is uniquely luxurious and distinctly lavish and home to the Dragonridge Country Club. 2019 Q1 Sales 14 Sales Price (Max) $5,450,000 Average Sales Price $2,415,164 Sales Price (Min) $899,900 AVG $/SF $407 AVG Days on Mkt 144

22

i n s i g h t | first quarter 2019

2018 Q1 Change 10 4 $3,300,000 $2,150,000 $1,470,299 $944,865 $675,000 $224,900 $283 $124 79 65


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. 2019 Q1 Sales 17 Sales Price (Max) $2,000,000 Average Sales Price $779,800 Sales Price (Min) $345,000 AVG $/SF $267 AVG Days on Mkt 65

2018 Q1 Change 29 -12 $2,000,000 $$851,674 $(71,874) $440,000 $(95,000) $230 $37 74 (9)

seven hills As the Roman Empire was built upon its famed rolling hills, so too is the mater-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 wondrous views of the entire Las Vegas valley Seven Hills is home to the Rio Secco gold course designed by Rees Jones, as well as, an abundance of outdoor activities and amenities. 2019 Q1 Sales 9 Sales Price (Max) $5,600,000 Average Sales Price $1,817,211 Sales Price (Min) $500,000 AVG $/SF $298 AVG Days on Mkt 64

2018 Q1 18 $2,950,000 $1,105,639 $515,000 $195 56

Change -9 $2,650,000 $711,572 $(15,000) $103 8

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. 2019 Q1 2018 Q1 Sales 3 0 Sales Price (Max) $1,300,000 $- Average Sales Price $923,000 $- Sales Price (Min) $675,000 $- AVG $/SF $180 $- AVG Days on Mkt 40 -

Change 3 $1,300,000 $923,000 $675,000 $180 40

first quarter 2019 |

insight

23


las vegas, summerlin & henderson

|

702.360.1414

roma hills Expansive living can sometimes come in an intimate environment and that is the beauty of Roma Hills. Designed as a sanctuary for only 144 homes, Roma Hills is luxuriously unique in Las Vegas. Set against Black Mountain and offering spectacular views of the entire valley, Roma Hills is a guardgated retreat for privacy and unrivaled living.

2019 Q1 2018 Q1 Sales 2 4 Sales Price (Max) $1,250,000 $1,300,000 Average Sales Price $1,083,500 $1,062,500 Sales Price (Min) $917,000 $775,000 AVG $/SF $258 $212 AVG Days on Mkt 27 103

Change -2 $(50,000) $21,000 $142,000 $46 (76)

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. 2019 Q1 Sales 17 Sales Price (Max) $2,600,000 Average Sales Price $669,776 Sales Price (Min) $320,000 AVG $/SF $225 AVG Days on Mkt 73

24

i n s i g h t | first quarter 2019

2018 Q1 13 $1,500,000 $717,954 $510,000 $214 80

Change 4 $1,100,000 $(48,178) $(190,000) $11 (7)


2906 Red Arrow | $2,100,000 4 Beds | 5 Baths | 5,300 Sq Ft | .36 Acre

LIVE GOLF FRONT Average

Sales Price

Golf Course

Sales

Highest

Average

Lowest

$/SF

DOM

Anthem Country Club

2

$770,000

$557,500

$345,000

$278

50

Bear's Best

1

$2,825,000

$2,825,000

$2,825,000

$561

300

Canyon Gate

1

$800,000

$800,000

$800,000

$264

91

Dragonridge

2

$5,450,000

$3,950,000

$2,450,000

$463

148

Lake Las Vegas

2

$620,000

$597,500

$575,000

$217

30

Las Vegas Country Club

2

$465,000

$430,000

$395,000

$166

75

Red Rock Country Club

7

$1,250,000

$888,857

$715,000

$295

97

Rio Secco

1

$2,899,000

$2,899,000

$2,899,000

$493

137

Southern Highlands

2

$3,200,000

$2,300,000

$1,400,000

$331

108

Spanish Trail

1

$900,000

$900,000

$900,000

$176

88

TPC Las Vegas

2

$1,350,000

$1,325,000

$1,300,000

$348

79

TPC Summerlin

1

$850,000

$850,000

$850,000

$266

54

Data through 3/31/19

®, TM 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. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of another 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 The Kuhl Group or Sotheby’s International Realty ®.

first quarter 2019 |

insight

25


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 is here to help you find your dream lifestyle.


20

Fashion Show Mall

8

Gold Coast Caesars Palace

Rio

Palms

7

6

3 Monte Carlo NewYork NewYork

Venetian

Bellagio Cosmopolitan

Ballyâ&#x20AC;&#x2122;s Paris

City Center T-Mobile Arena

4

5

Planet Hollywood

Mirage / TI

2

MGM Grand

Excalibur Tropicana Luxor D LV

sB

a eg sV

La

Mandalay Bay

1

McCarran International Airport

LIVE HIGHRISE


17 18 13 10

Circus Circus

14 Stratosphere

16

15

Sahara

11

Wynn / Encore

Downtown

Hilton

Riviera

12 Las Vegas Country Club

Las Vegas Convention Center Wynn Golf Course

Palazzo Sands Convention Center

9

Harrahs Imperial Palace Flamingo Billâ&#x20AC;&#x2122;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

Turnberry Place

first quarter 2019 |

insight

29


verticals

|

702.360.1414

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 Q1

2018 Q1

Change

Sales

3 2,680,000 3,990,000 1,650,000 1,420 72

30 1,426,417 4,300,000 850,000 925 23

(27) 1,253,583 (310,000) 800,000 495 49

Average Sales Price ($) Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

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, as evidenced by this year’s sales.

2019 Q1

2018 Q1

Change

Sales

2 2,225,000 2,800,000 1,650,000 633 123

2 1,950,000 3,100,000 800,000 504 115

275,000 (300,000) 850,000 129 8

Average Sales Price ($) Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

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, making their appeal that much more in the coming years. Now that much of the developer inventory has been sold, the sales volume is moving towards a more stable number, but the pricing is definitely moving up.

2019 Q1

2018 Q1

Change

Sales

3 1,112,500 1,835,000 415,000 649 128

18 601,278 1,200,000 283,999 571 68

(15) 511,222 635,000 131,001 78 60

Average Sales Price ($) Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

30

i n s i g h t | first quarter 2019


one queensridge place Dedicated to the most discriminating owners, One Queensridge Place serves as one of the very finest luxury residences in Las Vegas. Sales and pricing have remained relatively steady on average, but there are some signature units coming to market that will definitely increase the average.

Sales Average Sales Price ($) Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

2019 Q1

2018 Q1

Change

3 1,358,333 2,000,000 875,000 466 97

6 1,014,167 1,350,000 810,000 396 121

(3) 344,166 650,000 65,000 70 (24)

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. Trump Tower should also benefit long-term from Wynn Resortsâ&#x20AC;&#x2122; recent aquisition of the new Frontier site by eventually placing a major resort casino just a short walk from this opulent property.

Sales Average Sales Price ($) Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

2019 Q1

2018 Q1

Change

11 291,909 420,000 220,000 488 72

11 347,205 1,008,000 225,000 466 114

(55,296) (588,000) (5,000) 22 (42)

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 was 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. With a limited number of units available for sale, this could be a great opportunity.

Sales Average Sales Price ($) Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

2019 Q1

2018 Q1

Change

2 477,000 579,000 375,000 641 73

1 605,000 605,000 605,000 644 90

1 (128,000) (26,000) (230,000) (3) (17)

first quarter 2019 |

insight

31


verticals

|

702.360.1414

mgm signature MGM Signature continues to be a dominant property of interest in the condotel market. While there are still opportunities to make key purchases in the three towers, supply is getting more limited and prices are on the rise. It is likely we will continue to see more interest with the new developments surrounding T-Mobile Arena and the arrival of the Raiders.

2019 Q1

2018 Q1

Change

Sales

18 352,694 725,000 237,000 458 67

22 292,646 510,000 225,000 467 49

(4) 60,048 215,000 12,000 (9) 18

Average Sales Price ($) Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

palms place Hip and modern is the theme of Palms Place and it continues to garner attention. Now that the developer sales are complete, reflected in the higher sales figures from last year, the prices are showing the marketâ&#x20AC;&#x2122;s interest. It is a hot spot for those who want to own a bit of Las Vegas.

2019 Q1

2018 Q1

Change

Sales

9 264,500 390,000 227,500 392 67

14 326,625 710,000 210,000 379 110

(5) (62,125) (320,000) 17,500 13 (43)

Average Sales Price Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

sky las vegas Sales have been brisk for the property as the remaining developer units are being sold off. It has harkened a renewed interest in the tower and it shows in the sales. The north end of the Strip received a bit of good news recently with the Fontainebleauâ&#x20AC;&#x2122;s sale announcement, helping Sky, Allure and Turnberry Place.

2019 Q1

2018 Q1

Change

Sales

4 358,125 441,500 245,000 320 28

10 355,928 632,900 229,500 274 140

(6) 2,197 (191,400) 15,500 46 (112)

Average Sales Price Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

32

i n s i g h t | first quarter 2019


turnberry place The four towers of this prestigious enclave continue to be one of the premier residences of the Las Vegas Strip. Sales volume showed significant improvement over the same time last year. There were two significant sales in the building, but the overall average $/SF has remained steady.

2019 Q1

2018 Q1

Change

Sales

14 651,883 1,830,000 328,000 284 99

15 624,227 1,300,000 325,000 236 305

(1) 27,656 530,000 3,000 48 (206)

Average Sales Price ($) Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

turnberry towers The sister project to Turnberry Place overlooks the Las Vegas Country Club golf course as well as offering some amazing Strip views. Sales volume was significantly higher than last year at this time as there were some great pricing opportunities earlier in the year and prices have adjusted and are now balanced.

2019 Q1

2018 Q1

Change

Sales

11 435,091 670,000 265,000 358 48

6 407,417 680,000 228,000 347 69

5 27,674 (10,000) 37,000 11 (21)

Average Sales Price ($) Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

allure This highrise tower saw an increase in pricing over last year, benefitting from the new SLS Hotel & Casino adjacent to it on the Las Vegas Strip and MGM Resortsâ&#x20AC;&#x2122; outdoor festival complex hosting Rock in Rio. This is still one of the most affordable highrise opportunities on the Strip and people are starting to take notice.

2019 Q1

2018 Q1

Change

Sales

12 229,000 345,000 187,500 236 51

8 230,625 355,000 170,000 209 70

4 (1,625) (10,000) 17,500 27 (19)

Average Sales Price ($) Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

first quarter 2019 |

insight

33


verticals

|

702.360.1414

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 new T-Mobile arena and its surrounding restaurant/retail complex, The Park. All these new venues are within walking distance and makes this property even more attractive at current pricing.

2019 Q1

2018 Q1

Change

Sales

6 444,583 600,000 269,000 326 65

13 382,223 527,000 220,000 295 98

(7) 62,360 73,000 49,000 31 (33)

Average Sales Price ($) Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

the martin The sister project of Panorama Towers has stayed steady in its sales relative to last year while bolstering its average sales price. Interest in the building has been increasing due to the proximity of development activities surrounding CityCenter.

2019 Q1

2018 Q1

Change

Sales

7 475,000 705,000 365,000 371 60

13 517,577 950,000 272,500 367 57

(6) (42,577) (245,000) 92,500 4 3

Average Sales Price ($) Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

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. We do expect an increase in sales as the Wynn begins transformation of the golf course into the 1.5 Billion Paradise Park lagoon theme park.

34

i n s i g h t | first quarter 2019

2019 Q1

2018 Q1

Change

Sales

1

1

-

Average Sales Price

336,000

420,000

(84,000)

Sales Price (Max)

336,000

420,000

(84,000)

Sales Price (Min)

336,000

420,000

(84,000)

Average $/SF

226

187

39

Average Days On Mkt

13

82

(69)


regency

towers

These long-standing Vegas residential towers, located within the Las Vegas Country Club, has seen an increase in sales over the same time last year, some of which can be attributed to the country club and bidders for new ownership. With the renewed interest came increases in the average price. It is still one of the most affordable highrise options.

2019 Q1

2018 Q1

Change

Sales

6 261,083 355,000 133,000 170 52

4 324,750 485,000 205,000 144 109

2 (63,667) (130,000) (72,000) 26 (57)

Average Sales Price ($) Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

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, ownerâ&#x20AC;&#x2122;s lounge and social area, and an elegant pool and spa complex. With the NFL Raiders coming and a new arena going up nearby, this highrise community offers one of the best values in town.

2019 Q1

2018 Q1

Change

Sales

8 396,788 444,900 314,900 291 36

12 327,317 509,900 264,900 251 4

(4) 69,471 (65,000) 50,000 40 32

Average Sales Price ($) Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

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, interest continues to grow and is reflected in the sales and pricing. Sales Average Sales Price Sales Price (Max) Sales Price (Min) Average $/SF Average Days On Mkt

2019 Q1 4 546,675 744,900 275,000 348 13

2018 Q1 15 390,980 629,900 280,000 301 9

Change (11) 155,695 115,000 (5,000) 47 4

first quarter 2019 |

insight

35


verticals

|

702.360.1414

newport lofts These contemporary lofts are the highlight of the downtown residential scene. With initial steps in the renaissance of the downtown area completed successfully, the demand for these units are likely to get better as the redevelopment efforts continue.

2019 Q1

2018 Q1

Sales

6

-

Change 6

Average Sales Price ($)

371,500

-

371,500

Sales Price (Max)

429,000

-

429,000

Sales Price (Min)

330,000

-

330,000

Average $/SF

244

-

244

Average Days On Mkt

27

-

27

soho lofts Leading the way in the downtown redevelopment, this loft development continues to play an iconic role in the next phase of the downtown renaissance. Sales volume is steady, but pricing is on the rise.

36

i n s i g h t | first quarter 2019

2019 Q1

2018 Q1

Sales

2

2

Change -

Average Sales Price ($)

387,000

331,250

55,750

Sales Price (Max)

435,000

345,000

90,000

Sales Price (Min)

339,000

317,500

21,500

Average $/SF

230

208

22

Average Days On Mkt

65

180

(115)


listings of distinction

|

702.360.1414

|

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

591 lairmont

$4,695,000 | 10,018 sq ft | 6 beds | 10 baths

first quarter 2019 |

insight

37


listings of distinction

|

702.360.1414

2 74 7 PA R A D I S E , 3 7 0 3

$6,900,000 | 6,401 sq ft | 2 beds | 5 baths

38

i n s i g h t | first quarter 2019

|

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


LIVEGLOBAL With more than 22,000 associates in 990 offices in 72 countries around the world, Sothebyâ&#x20AC;&#x2122;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.

BEVERLY HILLS, CA

PARIS, FRANCE

ABACO BAHAMAS

3 Beds | 3 Baths $3,999,000 | ID: 9XXXSSR

5 Beds | 2 Baths $4,815,065 | ID: FPNYCM

5 Beds | 5 Baths $4,500,000 | ID: ZQBDV7

DUBAI, UAE

ROLLING HILLS, CA

MOSCOW, RUSSIA

5 Beds | 5 Baths $25,413,206 | ID: KCW4HD

5 Beds | 7 Baths $3,999,000 | ID: QKERHQ

3 Beds | 2 Baths $4,746,600 | ID: SB8EE2

HIGHLAND PARK, TX

LONDON, ENGLAND

RANCHO SANTA FE, CA

5 Beds | 5 Baths $3,990,000 | ID: Q2TJ26

3 Beds | 3 Baths $4,584,152 | ID: YE3L4F

5 Beds | 5 Baths $3,998,000 | ID: MCSH9W

LEARN MORE AT SYNERGYSIR.COM

first quarter 2019 |

insight

39


702.360.1414

synergysir.com

synergysir.com 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 • 990 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

Profile for SynergySIR

Insight Market Report  

Learn more about Lake Las Vegas Insight. First Quarter 2019.

Insight Market Report  

Learn more about Lake Las Vegas Insight. First Quarter 2019.