Insight Report | Q2 2019

INSI GHT Las Vegas 2019 | Second Quarter

Green Valley Office

table of contents

MacDonald Highlands Office

Summerlin Office

Lake Las Vegas Office

6

globally connected

8

by the numbers

14

news + notes

16

communities

25

golf course living

28

verticals

37

listings of distinction

#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

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VIEW MORE PROPERTIES:

www.synergysir.com

vegas born | globally connected

990

22,500

1/3

23.9M

Offices Worldwide

Associates Worldwide

Offices outside the United States

Property Views in Q1 2019

112B

$

Total worldwide Sale 2018

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

insight | second quarter 2019

significant sales

top 10 sales in Q2 2019 $4.6M

2720 PINTO

$4.1M

44 SUN GLOW

$3.9M

661 FALCON CLIFF

$3.5M

2909 COASTLINE

$3.5M

62 MEADOWHAWK

$3.5M

582 LAIRMONT

$3.4M

3375 E MAULE

$3.3M

661 DRAGON PEAK

661 FALCON CLIFF | $3,995,000 | MACDONALD HIGHLANDS

661 DRAGON PEAK | $3,350,000 | MACDONALD HIGHLANDS

$3.1M

659 PALISADE RIM

$2.9M

24 LOOKOUT RIDGE

659 PALISADE RIM | $3,100,000 | MACDONALD HIGHLANDS

second 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 North West South

$750K-$1M $1M-$1.49M $1.5M-$1.99M $2M-$4.99M

South West East

>$5M

Henderson

ALL SINGLE FAMILY HOMES* Distribution of Sales by Sales Price

Distribution of Sales by Location

<$100K $100K-$250K $250K-$499K $500K-$749K $750K-$1M $1M-$1.49M $1.5M-$1.99M $2M-$4.99M >$5M

North North West South South West East Henderson

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

DAYS ON MARKET BY PRICE RANGE*

<$100K

<$100K

$100K-$250K

$100K-$250K

$250K-$499K

$250K-$499K

$500K-$749K

$500K-$749K

$750K-$1M

$750K-$1M

$1M-$1.49M

$1M-$1.49M

$1.5M-$1.99M

$1.5M-$1.99M

$2M-$4.99M

$2M-$4.99M

>$5M

>$5M

0%

20%

40% Above

8

Equal

60% Below

insight | second quarter 2019

80%

100%

0%

20% <30

40% 30-90

90-120

60% 120-180

180+

80%

100%

597 ST CROIX | $6,955,000 | MACDONALD HIGHLANDS 3 Beds | 5 Baths | 10,005 Sq Ft | 2.4 Acre

second quarter 2019 |

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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 (%)

January

832

694

119

89

26

1,760

47%

February

914

673

146

119

44

1,896

48%

March

1,298

771

212

172

76

2,529

51%

April

1,525

823

166

187

76

2,777

55%

May

1,740

990

167

184

92

3,173

55%

June Grand Total

Price Range <$100K

1,603

888

7,912

4,839

<30

30-90

133

103

66

2,793

57%

943

854

380

14,928

53%

90-120

120-180

180+

Grand Total

<30 (%)

37

43%

$100K-$249K

1953

16 979

156

145

37

5,109

38%

$250K-$499K

5279

3331

671

566

223

9,606

55%

$500K-$749K

474

368

70

89

56

1,077

44%

$750K-$999K

111

85

22

25

20

229

48%

$1mm-$1.49mm

41

56

18

17

29

139

29%

$1.5mm-$1.99mm

25

8

4

4

35

71%

$2mm-$4.99mm

12

12

6

9

41

29%

2

6

17%

>$5mm Grand Total

2

6

1 11,353

3,494

564

535

333

16,279

70%

$4.6M

4

89135

32m

154

sale in Q2 2019

offices in southern Nevada

over $750,000

highest sale

homes

89135 was the zip code with the most luxury home activity.

15% of all sales over $750,000 were within 89135. The runner up was 89052 with 13%.

Sotheby’s Int’l Realty sold a $32m estate in Singapore, the highest sale in the Second Quarter 2019 in the network.

There were 154 homes over $1,000,000 sold in Southern Nevada in Q2 2019.

23 of which were over $2,000,000.

$4,600,000 is the highest priced home to sell in the Second 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

Letters from Tudor Monarchs to the Man Who Survived Them

BY SOTHEBY’S | JUL 9, 2019 It is a question many of us must have asked ourselves when watching Sunday night costume dramas on television, or visiting evocative historic palaces: could I have survived life at the Tudor court? Part of the public fascination with the Tudors is undoubtedly the fact that it was a time when politics was a game played for the highest possible stakes.

Sotheby’s is fortunate to offer for sale six letters by three Tudor monarchs – Edward VI, Mary I (and her husband Philip of Spain), and Elizabeth I – written to one of the great survivors of the Tudor period, in July’s English Literature, History, Children’s Books and Illustrations sale.

William Paget (1505-63) was a Londoner from a family of small fortune, but his formidable abilities as an administrator and diplomat led to a rapid rise through the royal bureaucracy not unlike that of his near-contemporary Thomas Cromwell. By the 1540s he was one of the men closest to the ailing, short-tempered and often malevolent King Henry VIII: physical proximity is a key to power in a personal monarchy and Paget became the key conduit to an increasingly reclusive monarch.

Such positions bring wealth and power, and Paget soon accumulated vast estates from the recently-dissolved monasteries, but they also bring enemies. When Henry was on his deathbed, Paget struck a deal with Edward Seymour, the young Prince of Wales’s uncle, that would preserve his position. Thus, when the Prince became Edward VI, Seymour duly became Duke of Somerset and Lord Protector, with Paget as his principal advisor.

The first lot in the sale is a letter from the early days of Edward VI’s regime, signed by Somerset and with a woodcut signature of the King. read entire story at sothebys.com

These Models Chart the Evolution of the Space Race

BY HALINA LOFT | JUL 12, 2019 The Space Exploration auction features several rare, out-of-this-world models from the biggest moments in the space race. Tune into the auction on 20 July, 11:00 AM and 2:00 PM EDT in New York, or place your bid online now .

This fantastic, rare modernist style contractor’s advertising model for the Altair rocket stage has it all: the starry sky, pictured on a metal plate behind the rocket, rotates, and the stars light up. A second window reveals a series of rocket features, and rotates on a metal plate. Starting in 1956, NASA & the US military commissioned the Hercules Powder Co. to develop solid-fuel rocket motors; this contract included Altair rocket stages for Vanguard rockets.

This very rare, large cut-away model depicts the Apollo capsule, complete with three seated astronaut figures. Looking closely, you can see the highly-detailed silver Mercury-era spacesuits, complete with NASA meatball patches, name tags and other fine details. Models such as this, complete with highly detailed figures, are few and far between. This is an excellent model manufactured and used by NASA for educational purposes. read entire story at sothebys.com

14

insight | second quarter 2019

news + notes

The Enigmatic Allure of Liangzhu Jades

BY SOTHEBY’S | JUL 19, 2019 Located in China’s lower Yangtze River Basin, the Liangzhu archaeological site shares its name with the Neolithic culture of the greater area, and was the location of the first documented findings of distinctive artefacts now considered characteristic of these communities.

These man-made mounds were discovered in 1936, and subsequent excavations over the decades have led to the unearthing of more burial complexes and impressive ritual objects of jades, stones, pottery and other ceremonial tools. While this trove evokes the presence of a bygone culture, some objects still remain shrouded in mystery.

Liangzhu is considered one of the two most important Neolithic jade cultures in China, marked by the development of principal jade forms. Cong tubes, bi discs, yue axes and other ornaments were discovered close to the entombed dead, which suggests a special function in burial rites. Many of the ornaments, utensils, vessels and tools point to the importance of farming, fishing and hunting as a way of life, while the works of sophisticated jade craftsmanship are remnants of highly stratified social structures and religious practices. read entire story at sothebys.com

Rocking Wimbledon: History of the Tennis Bracelet

BY ASHLEY FLIGHT | JUL 19, 2019 As Wimbledon, the most exclusive sporting event of the summer, quickly approaches Sotheby’s Diamonds takes a look at the chicest way to accessorise your centre court attire: the tennis bracelet. Its history is one immortalised by world-ranked tennis star Chris Evert in 1987 during the U.S. Open Tennis Championships. An accomplished athlete, Evert won eighteen Grand Slam single tournaments in her career, including three Wimbledon Championships.

Known for her chic on-court attire of delicate lace dresses and elegant accessories, “The Ice Maiden” was one of the most talked about style stars. Her signature accessory was an eternity bracelet: a flexible, serpentine design of diamonds that provided flexibility even while landing her opponent a perfectly placed backhand shot. Popular in the 1920s, this elegant bracelet was worn by fashionable women at the time, who would stack them in multiples on their wrists.

During an exceptionally long rally in the 1987 Grand Slam, Chris’s diamond eternity bracelet snapped mid-game. Refusing to continue playing until her bracelet was recovered, officials halted the game till, at last, it was found. The elegant bracelet immediately gained notoriety; jewellers everywhere began receiving requests for diamond “tennis bracelets.”

Despite the bracelet’s name throughout history, its timeless and classic design are sure to been seen from the grandstands of Wimbledon this year. read entire story at sothebys.com

second quarter 2019 |

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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.

1199 MACDONALD RANCH| $6,750,000 | MACDONALD HIGHLANDS 4 Beds | 5 Baths | 7,887 Sq Ft | .78 Acre

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.

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

YTD 2019 YTD 2018 Change 27 23 4 $4,100,000 $8,900,000 $(4,800,000) $2,065,056 $2,903,459 $(838,403) $1,050,000 $1,075,000 $(25,000) $441 $453 $(12) 88 84 4

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.

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

YTD 2019 YTD 2018 Change 40 49 -9 $2,300,300 $3,780,000 $(1,479,700) $1,066,944 $1,126,182 $(59,238) $595,000 $540,000 $55,000 $304 $270 $34 93 65 28

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.

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

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insight | second quarter 2019

YTD 2019 YTD 2018 Change 4 3 1 $1,725,000 $2,375,000 $(650,000) $1,506,250 $2,158,333 $(652,083) $1,200,000 $1,800,000 $(600,000) $229 $344 $(115) 49 89 (40)

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.

YTD 2019 Sales 6 Sales Price (Max) $1,725,000 AVG Sales Price $1,355,833 Sales Price (Min) $975,000 AVG $/SF $251 AVG Days on Mkt 112

YTD 2018 Change 5 1 $1,885,000 $(160,000) $1,314,600 $41,233 $950,000 $25,000 $257 $(6) 80 32

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.

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

YTD 2019 YTD 2018 Change 6 8 -2 $1,995,000 $2,200,000 $(205,000) $1,451,250 $1,421,625 $29,625 $1,200,000 $850,000 $350,000 $305 $278 $27 75 152 (77)

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.

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

YTD 2019 YTD 2018 Change 0 3 -3 $- $4,100,000 $(4,100,000) $- $2,466,667 $(2,466,667) $- $1,500,000 $(1,500,000) $- $281 $(281) - 86 (86)

second quarter 2019 |

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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 by passing through the guard-gated entrance and takes residence on a path of unmatched possibilities.

YTD 2019 YTD 2018 Change Sales 3 1 2 Sales Price (Max) $3,490,000 $2,000,000 $1,490,000 AVG 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.

YTD 2019 YTD 2018 Change Sales 6 4 2 Sales Price (Max) $1,575,000 $1,565,000 $10,000 AVG Sales Price $1,228,333 $1,255,000 $(26,667) Sales Price (Min) $865,000 $830,000 $35,000 AVG $/SF $278 $231 $47 AVG Days on Mkt 152 25 127

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.

YTD 2019 YTD 2018 Sales 5 6 Sales Price (Max) $1,212,450 $945,000 AVG Sales Price $955,090 $849,167 Sales Price (Min) $800,000 $775,000 AVG $/SF $224 $229 AVG Days on Mkt 69 69

20

insight | second quarter 2019

Change -1 $267,450 $105,923 $25,000 $(5) -

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.

YTD 2019 YTD 2018 Change Sales 3 3 0 Sales Price (Max) $1,800,000 $1,515,000 $285,000 AVG Sales Price $1,325,183 $1,441,667 $(116,484) Sales Price (Min) $725,550 $1,360,000 $(634,450) AVG $/SF $254 $308 $(54) AVG Days on Mkt 79 58 21

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.

YTD 2019 YTD 2018 Sales 2 4 Sales Price (Max) $965,000 $1,015,000 AVG Sales Price $907,500 $919,250 Sales Price (Min) $850,000 $839,998 AVG $/SF $275 $211 AVG Days on Mkt 35 75

Change -2 $(50,000) $(11,750) $10,002 $64 (40)

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.

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

YTD 2019 10 $1,080,000 $660,050 $392,000 $197 94

YTD 2018 26 $2,500,000 $814,123 $505,000 $216 45

Change -16 $(1,420,000) $(154,073) $(113,000) $(19) 49

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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.

YTD 2019 Sales 16 Sales Price (Max) $1,915,000 AVG Sales Price $846,000 Sales Price (Min) $378,000 AVG $/SF $237 AVG Days on Mkt 73

YTD 2018 21 $1,448,800 $791,295 $366,000 $215 106

Change -5 $466,200 $54,705 $12,000 $22 (33)

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.

YTD 2019 YTD 2018 Change Sales 53 50 3 Sales Price (Max) $3,200,000 $3,600,000 $(400,000) AVG Sales Price $948,623 $947,141 $1,482 Sales Price (Min) $503,000 $515,000 $(12,000) AVG $/SF $220 $206 $14 AVG Days on Mkt 82 116 (34)

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.

YTD 2019 YTD 2018 Change Sales 27 26 1 Sales Price (Max) $5,450,000 $7,750,000 $(2,300,000) AVG Sales Price $2,194,580 $1,617,081 $577,499 Sales Price (Min) $784,900 $525,000 $259,900 AVG $/SF $395 $298 $97 AVG Days on Mkt 109 92 17

22

insight | second quarter 2019

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.

YTD 2019 YTD 2018 Change Sales 52 52 0 Sales Price (Max) $2,730,000 $2,255,000 $475,000 AVG Sales Price $935,152 $999,693 $(64,541) Sales Price (Min) $345,000 $535,000 $(190,000) AVG $/SF $271 $246 $25 AVG Days on Mkt 64 58 6

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 golf course designed by Rees Jones, as well as, an abundance of outdoor activities and amenities.

YTD 2019 YTD 2018 Change Sales 32 23 9 Sales Price (Max) $5,600,000 $2,950,000 $2,650,000 AVG Sales Price $1,158,950 $1,049,874 $109,076 Sales Price (Min) $500,000 $515,000 $(15,000) AVG $/SF $247 $192 $55 AVG Days on Mkt 42 87 (45)

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.

YTD 2019 YTD 2018 Change Sales 6 6 0 Sales Price (Max) $1,300,000 $1,800,000 $(500,000) AVG Sales Price $897,333 $1,090,250 $(192,917) Sales Price (Min) $675,000 $645,000 $30,000 AVG $/SF $180 $178 $2 AVG Days on Mkt 91 78 13

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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.

YTD 2019 YTD 2018 Change Sales 4 4 0 Sales Price (Max) $1,290,000 $1,300,000 $(10,000) AVG Sales Price $1,145,500 $1,062,500 $83,000 Sales Price (Min) $917,000 $775,000 $142,000 AVG $/SF $243 $212 $31 AVG Days on Mkt 127 103 24

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.

YTD 2019 YTD 2018 Change Sales 42 32 10 Sales Price (Max) $2,600,000 $1,500,000 $1,100,000 AVG Sales Price $670,912 $707,385 $(36,473) Sales Price (Min) $320,000 $500,000 $(180,000) AVG $/SF $231 $217 $14 AVG Days on Mkt 69 104 (35)

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insight | second quarter 2019

9 CORRAL DE TIERRA | $3,250,000 6 Beds | 8 Baths | 5,192 Sq Ft | .50 Acre

LIVE GOLF FRONT Average

Sales Price

Golf Course

Sales

Highest

Average

Lowest

$/SF

DOM

Anthem Country Club

4

$1,900,000

$1,242,500

$770,000

$286

89

Bear's Best

3

$4,100,000

$3,475,000

$2,825,000

$597

129

Canyon Gate

5

$1,125,000

$953,800

$769,000

$257

50

Dragonridge

4

$5,450,000

$3,162,500

$1,250,000

$409

89

Lake Las Vegas

1

$1,315,000

$1,315,000

$1,315,000

$251

270

Red Rock Country Club

15

$2,300,300

$1,122,417

$809,000

$320

88

Rio Secco

4

$2,899,000

$1,893,500

$1,425,000

$349

56

Southern Highlands

3

$3,200,000

$1,950,000

$1,249,999

$302

96

Spanish Trail

2

$1,250,000

$1,075,000

$900,000

$207

110

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 6/30/19

®, 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 ®.

second 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 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 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

second 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.

YTD 2019

YTD 2018

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.

YTD 2019

YTD 2018

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.

YTD 2019

YTD 2018

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

insight | second 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

YTD 2019

YTD 2018

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

YTD 2019

YTD 2018

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 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. With a limited number of units available for sale, this is a great opportunity.

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

YTD 2019

YTD 2018

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)

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verticals

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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.

YTD 2019

YTD 2018

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.

YTD 2019

YTD 2018

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.

YTD 2019

YTD 2018

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

insight | second 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.

YTD 2019

YTD 2018

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.

YTD 2019

YTD 2018

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; outdoorfestival 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.

YTD 2019

YTD 2018

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

second quarter 2019 |

insight

33

verticals

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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.

YTD 2019

YTD 2018

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.

YTD 2019

YTD 2018

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

insight | second quarter 2019

YTD 2019

YTD 2018

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.

YTD 2019

YTD 2018

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.

YTD 2019

YTD 2018

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

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

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

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

second quarter 2019 |

insight

35

verticals

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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.

YTD 2019

YTD 2018

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

insight | second quarter 2019

YTD 2019

YTD 2018

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

667 palisade rim dr

$2,875,000 | 4,999 sq ft | 3 beds | 4 baths

second quarter 2019 |

insight

37

listings of distinction

|

702.360.1414

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

$6,399,900 | 6,401 sq ft | 2 beds | 5 baths

38

insight | second quarter 2019

|

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

LIVEGLOBAL With more than 22,500 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.

LOS ANGELES, CA

AUSTIN, TX

PALM BEACH, FL

5 Beds | 8 Baths $6,000,000 | ID: 8NE42W

5 Beds | 6 Baths $5,975,000 | ID: 336Y9Q

4 Beds | 3 Baths $5,950,000 | ID: 73NES7

AUSTIN, TX

ABACO, BAHAMAS

DUBAI, UAE

3 Beds | 2 Baths $4,500,000 | ID: 3Y5MML

6 Beds | 5 Baths $5,700,000 | ID: JBYQJT

4 Beds | 5 Baths $5,037,440 | ID: S6MT96

BATH, ENGLAND

NAPLES, ITALY

SAN DIEGO, CA

6 Beds | 6 Baths $4,363,723 | ID: 363G2L

3 Beds | 3 Baths $4,262,957 | ID: Q5MGHX

7 Beds | 10 Baths $5,998,000 | ID: NPXXKZ

LEARN MORE AT SYNERGYSIR.COM

second 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