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2 0 1 3

VERTICALS sec o n d Q u arter


Perspective 2013


As we look back at the first half of the year, we continue to see demand in the highrise segment of the market. As our available inventory becomes more limited, it is providing challenges for Buyers and creating more opportunities for Sellers. Foreign investors continue to be a large part of the market, looking to capitalize on current market pricing, which in many cases is far below the pricing of similar caliber products in other markets. With reduced pricing in some of our premier towers, the response has been significant as evidenced by the tremendous activity at Mandarin Oriental, One Queensridge Place, Veer Towers, and The Martin. Given the levels of activity over the past three years, coupled with our low inventory levels, it is very likely we will see continued pricing increases across the board in the next six to nine months. This means that the best buying opportunities are most likely going to occur in the near term. The data on the following pages will provide insight into select highrise developments in the Las Vegas Valley. Visit VegasVerticals. com for all current listings and information. When you are ready to buy or sell, put our local expertise and global reach to work for you.

Don Kuhl 702.234.2121 don.kuhl@sothebysrealty.com

* All information from sources deemed to be reliable although not warranted or guaranteed by The Kuhl Group or Sotheby’s International RealtyŽ

VegasVerticals.com


16

6

Fash Mirage / TI Caesars Palace

Gold Coast Rio

Palms

5

P

Bellagio

3

4

2

Cosmopolitan

Bally’s Paris

City Center

Monti Carlo NewYork NewYork

1

Planet Hollywood MGM Grand

Excalibur Tropicana Luxor

D

LV

eg

sV

La

B as

Mandalay Bay

McCarran International Airport


14

Downtown

12

11 8

15

13

Stratosphere

Sahara

Circus Circus

9

Wynn / Encore

Fontainebleau Riviera

Hilton

hion Show Mall

Las Vegas Country Club

10

Las Vegas Convention Center

Venetian Palazzo Sands Convention Center

Wynn Golf Course

7

Harrahs Imperial Palace Flamingo Bill’s

UNLV Thomas & Mack Center

1. 2. 3. 4.

MGM Signature Mandarin Oriental Veer Towers Panorama Towers

5. 6. 7. 8.

The Martin Palms Place Park Towers Trump

9. 10. 11. 12.

Metropolis Regency Towers Sky Allure

13. Turnberry Place 14. Newport Lofts 15. Soho Lofts 16. One Queensridge


One Queens

Dedicated to the most discriminating owners, One Queensridge Place serves as one of the very finest luxury residences in Las Vegas. With unparalleled amenities and finishes, this lifestyle is for those who genuinely appreciate the finer things in life. The last of the developer units have now been released and sales have increased dramatically. Now is the time to take advantage of current market pricing for this one-of-a-kind residence.


# of Transactions

Average Sales Price ($)

REO

Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012 MidYear

89

$203,613

9%

18%

$545,000

$95,159

$808

$183

2013 MidYear Δ

52 -37

$220,658 $17,045

4%

23%

$549,988 $4,988

$125,000 $29,841

$549 -$259

$224 $41

# of Transactions

Average Sales Price ($)

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012 MidYear 2013 MidYear

26 24

$175,550 $258,550

8% 4%

19% 21%

$380,000 $1,650,000

$113,000 $120,000

$341 $423

$184 $195

Δ

-2

$83,000

$1,270,000

$7,000

$82

$11

# of Transactions

Average Sales Price ($)

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012 MidYear

26

$256,067

0%

35%

$480,000

$155,000

$563

$271

2013 MidYear Δ

30 4

$341,553 $85,486

0%

10%

$1,605,000 $1,125,000

$186,900 $31,900

$925 $362

$350 $79

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

sridge Place # of Transactions

Average Sales Price ($)

2012 MidYear

» click for more $222,159 information« 27

26%

11%

$700,000

$89,000

$278

$89

2013 MidYear Δ

16 -11

$263,140 $40,981

0%

13%

$845,000 $145,000

$129,900 $40,900

$343 $65

$104 $15

# of Transactions

Average Sales Price ($)

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012 MidYear

1

$375,000

0%

100%

$375,000

$375,000

$119

$119

2013 MidYear Δ

5 4

$393,000 $18,000

0%

60%

$510,000 $135,000

$335,000 -$40,000

$155 $36

$119 $0

# of Transactions

Average Sales Price ($)

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

7 35 28

$1,132,571 $1,334,629 $202,058

14% 0%

57% 3%

$2,700,000 $3,300,000 $600,000

$684,000 $600,000 -$84,000

$543 $958 $415

$254 $264 $10

# of Transactions

Average Sales Price ($)

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012 MidYear 2013 MidYear

26 33

$271,353 $512,618

27% 0%

38% 27%

$700,000 $3,900,000

$110,000 $169,000

$271 $470

$129 $162

Δ

7

$241,265

$3,200,000

$59,000

# of Transactions

Average Sales Price ($)

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012 MidYear 2013 MidYear Δ

% REO

% Short Sales

$199 $33 VegasVerticals.com


Condotels

This segment of the market has shown resurgence in the last two years as the prices have dropped dramatically and have provided an excellent opportunity for people looking for a luxury vacation property while getting a financial offset through various rental programs.

MGM SIGNATURE

» click for more information«

The popularity of this condotel property over the past few years is now reflected in the more limited amount of inventory available for sale. Sales volume is down over 40% from the same time last year and is primarily due to the reduced inventory resulting in higher average sales price. The balance has shifted somewhat giving Sellers more leverage than before, but pricing is still far off from the peak and is still a good deal. # of Transactions

Average Sales Price ($)

REO

Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012 MidYear

89

$203,613

9%

18%

$545,000

$95,159

$808

$183

2013 MidYear Δ

52 -37

$220,658 $17,045

4%

23%

$549,988 $4,988

$125,000 $29,841

$549 -$259

$224 $41

# of

Average Sales

% Short

Sales Price

Sales Price

Sales $/SF

Sales $/SF


PALMS PLACE Hip and modern is definitely the theme of Palms Place and continues to get a lot of attention from buyers. Sales volume is down slightly from the same time last year due to a lack of inventory. Prices are still offering great value and will likely continue to be in demand for the remainder of the year. » click for more information«

# of Transactions

Average Sales Price ($)

REO

Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012 MidYear

89

$203,613

9%

18%

$545,000

$95,159

$808

$183

2013 MidYear Δ

52 -37

$220,658 $17,045

4%

23%

$549,988 $4,988

$125,000 $29,841

$549 -$259

$224 $41

# of Transactions

Average Sales Price ($)

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012 MidYear

26

$175,550

8%

19%

$380,000

$113,000

$341

$184

2013 MidYear Δ

24 -2

$258,550 $83,000

4%

21%

$1,650,000 $1,270,000

$120,000 $7,000

$423 $82

$195 $11

# of Transactions

Average Sales Price ($)

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012 MidYear

26

$256,067

0%

35%

$480,000

$155,000

$563

$271

2013 MidYear

30

$341,553

0%

10%

$1,605,000

$186,900

$925

$350

Δ

4

$85,486

T$1,125,000 R U M P$31,900 T O W$362 ER

$79

This classic and luxuriously appointed condotel is now seeing significantly more attention, primarily from

2012MidYear MidYear 2012 2013 MidYear 2013 MidYear Δ Δ

##ofof Transactions Transactions 27 89 16 52 -11 -37

AverageSales Sales Average Price ($) Price ($) $222,159 $203,613 $263,140 $220,658 $40,981 $17,045

2012 MidYear 2012 MidYear 2013 MidYear 2013 MidYear Δ Δ

# of # of Transactions Transactions 1 26 5 24 4 -2

Average Sales Average Sales Price ($) Price ($) $375,000 $175,550 $393,000 $258,550 $18,000 $83,000

% Short % REO % Short % REO Sales Sales 0% 100% 8% 19% 0% 60% 4% 21%

2012 MidYear 2012 MidYear 2013 MidYear 2013 MidYear Δ Δ

# of # of Transactions Transactions 7 26 35 30 28 4

Average Sales Average Sales Price ($) Price ($) $1,132,571 $256,067 $1,334,629 $341,553 $202,058 $85,486

# of

Average Sales

% REO REO 26% 9% 0% 4%

% Short Short Sales Sales 11% 18% 13% 23%

international buyers. The Sales number sales $/SF has held SalesPrice Price SalesPrice Price $/SF of Sales Sales Sales Sales Sales $/SF $/SF (Max) (Min) (Max) (Min) steady from same time last year, but we (Min) are definitely (Max) (Min) (Max) $700,000 $89,000 $278 $89 are still seeing some upward pricing pressure. There $545,000 $95,159 $808 $183 $845,000

$129,900

$343

$104

$145,000

$40,900

$65

$15

Sales Price Sales Price opportunistic pricing. Sales Price Sales Price (Max) (Min) (Max) (Min) » click for more information« $375,000 $375,000 $380,000 $113,000 $510,000 $335,000 $1,650,000 $120,000 $135,000 -$40,000 $1,270,000 $7,000

Sales $/SF Sales $/SF (Max) (Max) $119 $341 $155 $423 $36 $82

Sales $/SF Sales $/SF (Min) (Min) $119 $184 $119 $195 $0 $11

% Short % REO % Short % REO Sales Sales 14% 57% 0% 35% 0% 3% 0% 10%

Sales Price Sales Price (Max) (Max) $2,700,000 $480,000 $3,300,000 $1,605,000 $600,000 $1,125,000

Sales Price Sales Price (Min) (Min) $684,000 $155,000 $600,000 $186,900 -$84,000 $31,900

Sales $/SF Sales $/SF (Max) (Max) $543 $563 $958 $925 $415 $362

Sales $/SF Sales $/SF (Min) (Min) $254 $271 $264 $350 $10 $79

% Short

Sales Price

Sales Price

Sales $/SF

Sales $/SF

$549,988 $125,000 $549 inventory $224for those great opportunities on developer $4,988 $29,841 for luxury -$259 on the$41 who are still looking Strip with

% REO


# of Transactions # of 1 Transactions 5 27 4 16

Average Sales Price ($) Average Sales $375,000 Price ($) $393,000 $222,159 $18,000 $263,140

#-11 of Transactions # of 7 Transactions 35 1 28 5 #4of

$40,981 Average Sales Price ($) Average Sales $1,132,571 Price ($) $1,334,629 $375,000 $202,058 $393,000 $18,000 Average Sales

0% 26%

% Short Sales % Short 100% Sales 60% 11%

0%

13%

% REO

Sales Price (Max) Sales Price $375,000 (Max) $510,000 $700,000 $135,000 $845,000

Sales Price (Min) Sales Price $375,000 (Min) $335,000 $89,000 -$40,000 $129,900

Sales $/SF (Max) Sales $/SF $119 (Max) $155 $278 $36 $343

Sales $/SF (Min) Sales $/SF $119 (Min) $119 $89 $0 $104

R E S I D E N C E S 2012 MidYear

2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ

Transactions # of 26 Transactions 33 7 7 35

Price ($) Average Sales $271,353 Price ($) $512,618 $1,132,571 $241,265 $1,334,629

#28of Transactions # of 34 Transactions 61 26 27 33

$202,058 Average Sales Price ($) Average Sales $330,147 Price ($) $429,821 $271,353 $99,674 $512,618

#7of Transactions # of 3 Transactions 4 34 1 61

$241,265 Average Sales Price ($) Average Sales $1,761,667 Price ($) $1,687,500 $330,147 -$74,167 $429,821

#27of Transactions # of 14 Transactions 12 3 -2 4 #1of

$99,674 Average Sales Price ($) Average Sales $156,207 Price ($) $293,750 $1,761,667 $137,543 $1,687,500 -$74,167 Average Sales

Transactions # of 33 Transactions 30 14 -3 12 #-2of Transactions # of 24 Transactions 29 33 5 30 #-3of

Transactions # of 2 Transactions 43 24 41 29 #5of Transactions

Price ($) Average Sales $211,739 Price ($) $257,697 $156,207 $45,958 $293,750

$137,543 Average Sales Price ($) Average Sales $497,556 Price ($) $508,983 $211,739 $11,427 $257,697 $45,958 Average Sales Price ($) Average Sales $396,550 Price ($) $507,361 $497,556 $110,811 $508,983

$11,427 Average Sales Price ($)

% 0% REO

%14% REO 0% 0%

% Short Sales % Short 57% Sales 3% 100%

0%

60%

% REO

%27% REO 0% 14%

% Short Sales % Short 38% Sales 27% 57%

0%

3%

% REO

$145,000 $40,900 $65 $15 Sales Price Sales Price Sales $/SF Sales $/SF (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF $2,700,000 $684,000 $543 $254 (Max) (Min) (Max) (Min) $3,300,000 $600,000 $958 $264 $375,000 $375,000 $119 $119 These two towers continue to serve as one of the most $600,000 -$84,000 $415 $10 $510,000 $335,000 $155 $119 distinctive and exclusive highrise addresses, home to $135,000 -$40,000 $36 Sales Price Sales Price Sales $/SF Sales$0$/SF many of the most influential Las Vegas residents. This (Max) (Min) (Max) (Min) Sales Pricedoesn’t Salestraditionally Price Saleshave $/SF Salesin $/SF property the way $700,000 $110,000 $271 much$129 (Max) (Min) (Max) (Min) $3,900,000 $470 increase $162 of turnover, but$169,000 we did see a slight in activity $2,700,000 $684,000 $543 $254 $3,200,000 $59,000 $199 $33 from this time last year. $3,300,000 $600,000 $958 $264

PARK TOWERS

»$600,000 click for more information« -$84,000

Sales Price (Min) Sales Price $217,500 (Min) $199,000 $110,000 -$18,500 $169,000

$415 Sales $/SF (Max) Sales $/SF $355 (Max) $509 $271 $154 $470

$10 Sales $/SF (Min) Sales $/SF $196 (Min) $179 $129 -$17 $162

$59,000 Sales Price (Min) Sales Price $785,000 (Min) $1,050,000 $217,500 $265,000 $199,000

$199 Sales $/SF (Max) Sales $/SF $561 (Max) $569 $355 $8 $509

$33 Sales $/SF (Min) Sales $/SF $269 (Min) $360 $196 $91 $179

0% 27%

% Short Sales % Short 0% Sales 0% 38%

0%

27%

Sales Price (Max) Sales Price $1,040,000 (Max) $1,307,500 $700,000 $267,500 $3,900,000

% Short Sales % Short 0% Sales 0% 0% 0%

$3,200,000 Sales Price (Max) Sales Price $2,750,000 (Max) $2,200,000 $1,040,000 -$550,000 $1,307,500

%36% REO 17% 0%

% Short Sales % Short 7% Sales 0% 0%

25%

0%

$267,500 -$18,500 $154 -$17 Sales Price Sales Price Sales $/SF Sales $/SF (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF $425,000 $59,900 $192 $38 (Max) (Min) (Max) (Min) $885,000 $100,000 $283 $65 $2,750,000 $785,000 $561 $269 $460,000 $40,100 $91 $27 $2,200,000 $1,050,000 $569 $360 -$550,000 $265,000 $91 The four of this compound continue Sales Pricetowers Sales Priceprestigious Sales$8$/SF Sales $/SF

% REO % 0% REO

% REO % 0% REO 25% 0% 0% % REO

27% 36%

% Short Sales % Short 30% Sales 23% 7%

17%

0%

% REO %39% REO

$125,000 $6,000 $100,000

$263 $7 $283

$141 $38 $5 $65

% Short Sales % Short 0% Sales 0% 25% 17%

$460,000 Sales Price (Max) Sales Price $1,526,067 (Max) $1,300,000 $485,000 -$226,067 $428,000 -$57,000 Sales Price

(Max) Sales Price $407,000 (Max) $1,630,000 $1,526,067 $1,223,000 $1,300,000

$40,100 Sales Price (Min) Sales Price $175,000 (Min) $264,000 $119,000 $89,000 $125,000 $6,000 Sales Price

$91 Sales $/SF (Max) Sales $/SF $381 (Max) $324 $256 -$57 $263 Sales$7$/SF

$27 Sales $/SF (Min) Sales $/SF $96 (Min) $152 $136 $56 $141 Sales$5$/SF

% Short Sales

-$226,067 Sales Price (Max)

$89,000 Sales Price (Min)

-$57 Sales $/SF (Max)

$56 Sales $/SF (Min)

%17% REO 3% 39% 27%

23%

% REO % 0% REO 0% 17% 3% % REO

(Max) (Min) (Max) of the (Min) to be one of the premier residences Las Vegas Sales Price Sales Price Sales $/SF Sales $/SF $485,000 $119,000 $256 $136 (Max) (Min) Strip. Sales volume remained (Max) steady from (Min) this time last $428,000 -$57,000 $885,000

% Short Sales % Short 25% Sales 17% 30%

% REO

TURNBERRY PLACE

$425,000 year but pricing$59,900 is on the rise. $192 » click for more information«

(Min) Sales Price $386,100 (Min) $201,388 $175,000 -$184,712 $264,000

(Max) Sales $/SF $488 (Max) $681 $381 $193 $324

(Min) Sales $/SF $461 (Min) $279 $96 -$182 $152


# of Transactions

Average Sales Price ($)

2012 MidYear 2013 MidYear Δ

26 30 # 4of Transactions

$256,067 $341,553 $85,486 Average Sales Price ($)

2012 MidYear

89

2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

$480,000

$155,000 $186,900 $31,900 Sales Price (Min)

$563 $925 $362 Sales $/SF (Max)

$271 $350 $79 Sales $/SF (Min)

R E S I D E N C E S

2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ

0% 0%

35% 10%

REO

Short Sales

$1,605,000 $1,125,000 Sales Price (Max)

$203,613

9%

18%

$545,000

$95,159

$808

$183

52 #-37 of Transactions

$220,658 Average Sales $17,045 Price ($)

4%

23% % Short Sales

$549,988 Sales Price $4,988 (Max)

$125,000 Sales Price $29,841 (Min)

$549 Sales $/SF -$259 (Max)

$224 Sales $/SF $41 (Min)

#27 of Transactions 16 26 -11

Average Sales $222,159 Price ($) $263,140

Sales Price $700,000

Sales Price $89,000

Sales $/SF $278

Sales $/SF $89

24 #-2of Transactions # 1of Transactions 5 26 4

$175,550 $40,981 $258,550 Average Sales $83,000 Price ($) Average Sales $375,000 Price ($) $393,000

30 # 4of Transactions

$256,067 $18,000 $341,553 Average Sales $85,486 Price ($)

7 35 #28 of

$1,132,571 $1,334,629 $202,058 Average Sales

Transactions # of 27 Transactions 16 26 -11 33 # 7of Transactions # of 1 Transactions 5 34 4 61 #27 of Transactions # of 7 Transactions 35 3 28 4 # 1of Transactions # of 26 Transactions 33 14 7 12 #-2of Transactions # of 34 Transactions 61 33 27 30 #-3of Transactions # of

Price ($) Average Sales $222,159 Price ($) $263,140 $271,353 $40,981 $512,618 $241,265 Average Sales Price ($) Average Sales $375,000 Price ($) $393,000 $330,147 $18,000 $429,821 $99,674 Average Sales Price ($) Average Sales $1,132,571 Price ($) $1,334,629 $1,761,667 $202,058 $1,687,500 -$74,167 Average Sales Price ($) Average Sales $271,353 Price ($) $512,618 $156,207 $241,265 $293,750 $137,543 Average Sales Price ($) Average Sales $330,147 Price ($) $429,821 $211,739 $99,674 $257,697 $45,958 Average Sales Price ($) Average Sales

% REO %26% REO 0% 8%

%11% Short Sales 13%

4%

21% % Short Sales

% REO

19%

% 0% REO 0% 0%

%100% Short Sales 60%

0%

10% % Short Sales

% REO 14% 0%

35%

57% 3%

0% 27%

% Short Sales % Short 11% Sales 13% 38%

0%

27%

% REO %26% REO

% REO % 0% REO 0% 0% 0%

% Short Sales % Short 100% Sales 60% 0% 0%

0% 0%

% Short Sales % Short 57% Sales 3% 0%

25%

0%

% REO %14% REO

% REO %27% REO 0% 36% 17% % REO % 0% REO 0% 39% 27% % REO

% Short Sales % Short 38% Sales 27% 7% 0% % Short Sales % Short 0% Sales 0% 30% 23% % Short Sales % Short

ALLURE

Now that the building completely sold out (Max) (Min) has been (Max) (Min) $845,000 $129,900 $343 $104 from the developer, inventory is now only coming $380,000 $113,000 $341 $184 $145,000 $40,900 $65 $15 $1,650,000 $120,000 $423 increase$195 from resales. The average price reflects the

Sales Price Price Sales Sales $1,270,000 $7,000 $82 $11 limitations on Sales inventory. This is$/SF still one of$/SF the most (Max)

(Min)

(Max)

(Min)

(Max) $155 $563 $36

(Min) $119 $271 $0

affordable opportunities on theSales Strip. Sales Price highrise Sales Price Sales $/SF $/SF $375,000 $375,000 $119 $119 (Max) (Min) » $510,000 click for more information« $335,000 $480,000 $135,000 $1,605,000 Sales Price $1,125,000 (Max)

$155,000 -$40,000 $186,900 Sales Price $31,900 (Min)

$925 Sales $/SF $362 (Max)

$350 Sales $/SF $79 (Min)

$2,700,000 $3,300,000 $600,000 Sales Price

$684,000 $600,000 -$84,000 Sales Price

$543 $958 $415 Sales $/SF

$254 $264 $10 Sales $/SF

(Max) Sales Price $375,000 (Max) $510,000 $1,040,000 $135,000 $1,307,500

(Min) Sales Price $375,000 (Min) $335,000 $217,500 -$40,000 $199,000

(Max) Sales $/SF $119 (Max) $155 $355 $36 $509

(Min) Sales $/SF $119 (Min) $119 $196 $0 $179

(Max) Sales Price $700,000 (Max) $845,000 $700,000 $145,000 $3,900,000 $3,200,000 Sales Price

(Min) Sales Price $89,000 (Min) $129,900 $110,000 $40,900 $169,000 $59,000 Sales Price

(Max) Sales $/SF $278 (Max) $343 $271 $65 $470 $199 Sales $/SF

(Min) Sales $/SF $89 (Min) $104 $129 $15 $162 $33 Sales $/SF

SKY LAS VEGAS

$267,500 -$18,500 $154 -$17 Sales Price Sales Sales $/SFSky Sales $/SF to be Situated right on thePrice Las Vegas Strip, continues (Max)

(Min)

(Max)

(Min)

one the mostSales sought highrise SalesofPrice PriceafterSales $/SF properties. Sales $/SF With $2,700,000 $684,000 $543 $254 (Max) (Min) the(Max) development(Min) efforts on the Sahara property now $3,300,000

$600,000

$958

$264

$2,200,000 -$550,000 Sales Price

$1,050,000 $265,000 Sales Price

$569 Sales$8$/SF

$360 $91 Sales $/SF

(Max) Sales $/SF $355 (Max) $509 $256 $154 $263

(Min) Sales $/SF $196 (Min) $179 $136 -$17 $141

$2,750,000 average $785,000 $269 underway, sales price $561 is on the rise. $600,000 -$84,000 $415 $10Sellers are

in a strong position at this time with units not staying on(Max) the market for(Min) long. $700,000 (Max) $3,900,000 $425,000 $3,200,000 $885,000 $460,000 Sales Price

$110,000 (Min) $169,000 $59,900 $59,000 $100,000 $40,100 Sales Price

(Max) Sales $/SF $271 (Max) $470 $192 $199 $283 $91 Sales $/SF

-$57,000 Sales Price (Max) Sales Price

$6,000 Sales Price (Min) Sales Price

Sales$7$/SF (Max) Sales $/SF

»Sales click Price for more information« Sales Price

(Max) Sales Price $1,040,000 (Max) $1,307,500 $485,000 $267,500 $428,000

(Min) Sales Price $217,500 (Min) $199,000 $119,000 -$18,500 $125,000

(Min) Sales $/SF $129 (Min) $162 $38 $33 $65 $27 Sales $/SF

Sales$5$/SF (Min) Sales $/SF


2012 MidYear

26

$256,067

0%

35%

$480,000

$155,000

$563

$271

2013 MidYear Δ

30 4

$341,553 $85,486

0%

10%

$1,605,000 $1,125,000

$186,900 $31,900

$925 $362

$350 $79

2012 MidYear

# of Transactions # of 89 Transactions

Sales Price (Max) Sales Price $545,000 (Max) $549,988 $700,000 $4,988 $845,000

Sales Price (Min) Sales Price $95,159 (Min) $125,000 $89,000 $29,841 $129,900

Sales $/SF (Min) Sales $/SF $183 (Min)

52 27 -37 16

Short Sales % Short 18% Sales 23% 11%

Sales $/SF (Max) Sales $/SF $808 (Max)

2013 2012MidYear MidYear Δ 2013 MidYear

Average Sales Price ($) Average Sales $203,613 Price ($) $220,658 $222,159 $17,045 $263,140

-$259 $343

$224 $89 $41 $104

Δ

-11 # of Transactions # of 26 Transactions 241 -25

$40,981 Average Sales Price ($) Average Sales $175,550 Price ($) $258,550 $375,000 $83,000 $393,000

$145,000

$40,900

$65

$15

(Max)

(Min)

(Max)

(Min)

2012 MidYear

4 # of Transactions # of 26 Transactions

2013 2012MidYear MidYear Δ 2013 MidYear

307 4 35

$18,000 Average Sales Price ($) Average Sales $256,067 Price ($) $341,553 $1,132,571

Δ

28

$85,486 $1,334,629 $202,058

# of Transactions # of 26 Transactions 33 27

Average Sales Price ($) Average Sales $271,353 Price ($) $512,618 $222,159

R E S I D E N C E S

2012 MidYear 2013 2012MidYear MidYear Δ 2013 MidYear Δ

2012 MidYear 2013MidYear MidYear 2012 Δ 2013 MidYear Δ 2012 MidYear 2013MidYear MidYear 2012 Δ 2013 MidYear Δ 2012 MidYear 2013MidYear MidYear 2012 Δ 2013 MidYear Δ 2012 MidYear 2013MidYear MidYear 2012 Δ 2013 MidYear Δ 2012 MidYear 2013MidYear MidYear 2012 Δ 2013 MidYear Δ

167

-11 # of Transactions # of 34 Transactions 61 1 27 5 4 # of Transactions # of 3 Transactions 74 351 28 # of Transactions # of 14 Transactions 12 26

-2 33 7 # of Transactions # of 33 Transactions 30 34 -3 61 27 # of Transactions

$241,265 $263,140

$40,981 Average Sales Price ($) Average Sales $330,147 Price ($) $429,821 $375,000 $99,674 $393,000 $18,000 Average Sales Price ($) Average Sales $1,761,667 Price ($) $1,687,500 $1,132,571 -$74,167 $1,334,629 $202,058 Average Sales Price ($) Average Sales $156,207 Price ($) $293,750 $271,353 $137,543 $512,618 $241,265 Average Sales Price ($) Average Sales $211,739 Price ($) $257,697 $330,147 $45,958 $429,821 $99,674 Average Sales Price ($)

REO %9% REO 4% 26% 0%

13%

% Short Sales % Short % REO 8% 19% Sales 4% 21% 0% 100%

% REO

0%

60%

% Short % REO Sales % Short % REO 0% 35% Sales 0% 10% 14% 57% 0% 3%

0% 26%

% Short Sales % Short 38% Sales 27% 11%

0%

13%

% REO % REO 27%

% Short % REO Sales % Short % REO 0% 0% Sales 0% 0% 0% 100% 0% 60% % REO % REO 0% 25% 14% 0%

% Short Sales % Short 0% Sales 0% 57% 3%

% Short % REO Sales % Short % REO 36% 7% Sales 17% 0% 27% 38% 0% % REO % REO 39% 27% 0% 0% % REO

P A NO R A M A$549 $278

The two towers overlooking the world-class architecture Sales Price Salesan Price Sales Sales $/SF of CityCenter saw increase in$/SF sales volume over the Sales Price $/SF Sales $/SFnotice same time last Sales year.Price Sellers Sales are starting to take $380,000 $113,000 $341 $184 (Max) (Min) (Max) (Min) $1,650,000 $120,000 $423 $195 $375,000 $375,000 $119 $119 but at a higher price. The pricing has shown an increase $1,270,000 $7,000 $82 $11 $510,000 $335,000 $155 $119

of the demand and have provided additional inventory, on$135,000 average and -$40,000 is likely to continue foreseeable $36 for the $0 Sales Price Sales Price Sales $/SF Sales $/SF future. (Max) (Min) (Max) (Min) Sales Price

Sales Price

Sales $/SF $563 (Max)

Sales $/SF $271 (Min)

$1,605,000 $2,700,000 $1,125,000 $3,300,000 $600,000

$186,900 $684,000 $31,900 $600,000

$350 $254 $79 $264

-$84,000

$925 $543 $362 $958 $415

Sales Price (Max) Sales Price $700,000 (Max) $3,900,000 $700,000

Sales Price (Min) Sales Price $110,000 (Min) $169,000 $89,000

Sales $/SF (Max) Sales $/SF $271 (Max) $470 $278

Sales $/SF (Min) Sales $/SF $129 (Min) $162 $89

$145,000 Sales Price (Max) Sales Price $1,040,000 (Max) $1,307,500 $375,000

$40,900 Sales Price (Min) Sales Price $217,500 (Min) $199,000 $375,000

$65 Sales $/SF (Max) Sales $/SF $355 (Max) $509 $119

$15 Sales $/SF (Min) Sales $/SF $196 (Min) $179 $119

$415 Sales $/SF (Max) Sales $/SF $192 (Max) $283 $271

$10 Sales $/SF (Min) Sales $/SF $38 (Min) $65 $129

$154 Sales $/SF (Max)

-$17 Sales $/SF (Min)

»$480,000 click for more information« $155,000 (Max) (Min)

$3,200,000 $845,000

$59,000 $129,900

T$510,000 H E M$335,000 A R T I N$155 $267,500 -$18,500 $154

in the median sales price. $600,000 -$84,000 Sales Price Sales Price » click for more information« (Max) (Min) Sales Price Sales Price $425,000 $59,900 (Max) (Min) $885,000 $100,000 $700,000 $110,000

0%

$40,100 $169,000 $59,000 Sales Price (Min) Sales Price $119,000 (Min) $125,000 $217,500 $6,000 $199,000

% Short Sales

$267,500 Sales Price (Max)

-$18,500 Sales Price (Min)

% Short Sales % Short 30% Sales 23% 0%

$33 $104

-$17 $119 $135,000 -$40,000 $0 project As an independent property $36 from its sister Sales Price Sales Price Sales $/SF Sales $/SF Panorama The Martin continues to sell its (Max) Towers, (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF $2,750,000 $785,000 $561 $269 (Max) inventory. (Min) On the(Max) (Min) developer resale side, sales have $2,200,000 $1,050,000 $569 $360 $2,700,000 over 2010 $684,000 $543 $254 increase increased while maintaining a slight -$550,000 $265,000 $8 $91 $3,300,000 $600,000 $958 $264

$460,000 $3,900,000 $3,200,000 Sales Price (Max) Sales Price $485,000 (Max) $428,000 $1,040,000 -$57,000 $1,307,500

27%

$199 $343

$10

$91 $470 $199 Sales $/SF (Max) Sales $/SF $256 (Max) $263 $355 $7 $509

$27 $162 $33 Sales $/SF (Min) Sales $/SF $136 (Min) $141 $196 $5 $179


# of 89 Transactions 52 26 -37 24

Average Sales $203,613 Price ($) $220,658 $175,550 $17,045 $258,550

-2 # of Transactions # of 26 Transactions 24 26 -2 30

$83,000 Average Sales Price ($) Average Sales $175,550 Price ($) $258,550 $256,067 $83,000 $341,553

4 # of Transactions

2012 MidYear 2013 MidYear Δ

2012 MidYear

% 9% REO

% Short 18% Sales 23% 19%

Sales Price $545,000 (Max) $549,988 $380,000 $4,988 $1,650,000

Sales Price $95,159 (Min) $125,000 $113,000 $29,841 $120,000

Sales $/SF $808 (Max) $549 $341 -$259 $423

Sales $/SF $183 (Min) $224 $184 $41 $195

$1,270,000 Sales Price (Max) Sales Price $380,000 (Max) $1,650,000 $480,000 $1,270,000 $1,605,000

$7,000 Sales Price (Min) Sales Price $113,000 (Min) $120,000 $155,000 $7,000 $186,900

$82 Sales $/SF (Max) Sales $/SF $341 (Max) $423 $563 $82 $925

$11 Sales $/SF (Min) Sales $/SF $184 (Min) $195 $271 $11 $350

$1,125,000

$31,900

$362

$79

(Max)

(Min)

(Max)

(Min)

$480,000

$155,000

$563

$271

Sales levels. Price 2011 $1,125,000

Sales Price $31,900 (Min)

Sales $/SF $362 (Max)

Sales $/SF $79 (Min)

R E S I D E N C E S 2013 2012 MidYear MidYear Δ 2013 MidYear Δ

4% 8% 4%

21%

4% 0%

% Short Sales % Short 19% Sales 21% 35%

0%

10%

$85,486 Average Sales Price ($)

% REO

% Short Sales

26

$256,067

0%

35%

30 # of 4 Transactions

$341,553 Average Sales $85,486 Price ($)

0% % REO

10% % Short Sales

2012 MidYear

27

$222,159

26%

11%

2013 MidYear

16

$263,140

0%

13%

Δ

-11 # of Transactions # of 27 Transactions 16 1

$40,981 Average Sales Price ($) Average Sales $222,159 Price ($) $263,140 $375,000

2012 MidYear 2013 2012 MidYear MidYear Δ 2013 MidYear Δ

2012 MidYear 2013 2012 MidYear MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 2012 MidYear MidYear

-11 5 4 # of Transactions # of 1 Transactions 57

$40,981 $393,000 $18,000 Average Sales Price ($) Average Sales $375,000 Price ($) $393,000 $1,132,571

Δ 2013 MidYear

4 35

Δ

28 # of Transactions # of 7 Transactions 35 26 28 33

$202,058 Average Sales Price ($) Average Sales $1,132,571 Price ($) $1,334,629 $271,353 $202,058 $512,618

7 # of Transactions # of 26 Transactions 33 34 7 61

$241,265 Average Sales Price ($) Average Sales $271,353 Price ($) $512,618 $330,147 $241,265 $429,821

27 # of Transactions # of 34 Transactions 61 3

$99,674 Average Sales Price ($) Average Sales $330,147 Price ($) $429,821 $1,761,667

2012 MidYear 2013 2012 MidYear MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 2012 MidYear MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 2012 MidYear MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 2012 MidYear MidYear Δ 2013 MidYear Δ

27 4 1 # of Transactions # of 3 Transactions

$18,000 $1,334,629

4 14 1 12

$99,674 $1,687,500 -$74,167 Average Sales Price ($) Average Sales $1,761,667 Price ($) $1,687,500 $156,207 -$74,167 $293,750

-2 # of Transactions # of

$137,543 Average Sales Price ($) Average Sales

% REO % 8% REO

METROPOLIS

Sales Price Sales Price Sales $/SFGolfSales $/SF the Overlooking the Wynn Resort Course,

Metropolis saw less significantly less sales activity than in 2011, showing some pressure$925 on average $350 pricing from $1,605,000 $186,900 (Max)

$278

$89

$845,000

$129,900

$343

$104

$145,000 Sales Price (Max) Sales Price $700,000 (Max) $845,000 $375,000

$40,900 Sales Price (Min) Sales Price $89,000 (Min) $129,900 $375,000

$65 Sales $/SF (Max) Sales $/SF $278 (Max) $343 $119

$15 Sales $/SF (Min) Sales $/SF $89 (Min) $104 $119

3%

$135,000 $3,300,000

-$40,000 $600,000

$36 $958

$0 $264

0% 27%

% Short Sales % Short 57% Sales 3% 38%

0%

27%

$600,000 Sales Price (Max) Sales Price $2,700,000 (Max) $3,300,000 $700,000 $600,000 $3,900,000

%26% REO 0% 0%

% Short Sales % Short 11% Sales 13% 100%

0%

60%

% REO

% REO % 0% REO 0% 14% 0% % REO %14% REO

% REO %27% REO 0% 0% 0%

% Short Sales % Short 100% Sales 60% 57%

% Short Sales % Short 38% Sales 27% 0% 0%

0% 0%

% Short Sales % Short 0% Sales 0% 0%

25%

0%

% REO % 0% REO

% REO % 0% REO 25% 36% 17% % REO

$89,000 » $700,000 click for more information«

$145,000 $510,000 $135,000 Sales Price (Max) Sales Price $375,000 (Max) $510,000 $2,700,000

$40,900 $335,000 -$40,000 Sales Price (Min) Sales Price $375,000 (Min) $335,000 $684,000 -$84,000 Sales Price (Min) Sales Price $684,000 (Min) $600,000 $110,000 -$84,000 $169,000

$65 $155 $36 Sales $/SF (Max) Sales $/SF $119 (Max) $155 $543 $415 Sales $/SF (Max) Sales $/SF $543 (Max) $958 $271 $415 $470

$15 $119 $0 Sales $/SF (Min) Sales $/SF $119 (Min) $119 $254 $10 Sales $/SF (Min) Sales $/SF $254 (Min) $264 $129 $10 $162

REGENCY TOWERS $3,200,000 $59,000 $199 $33 located These long-standing Vegas Sales residential towers, Sales Price Sales Price $/SF Sales $/SF

(Max)the Las Vegas (Min) Country (Max) within Club, has (Min) seen a slight Sales Price Sales Price Sales $/SF Sales $/SF $700,000 $110,000 $271 due (Min) $129 (Max) in sales (Min) (Max) decrease volume primarily to a limited $3,900,000 $169,000 $1,040,000 $217,500 $355 $196 amount of present inventory. $470 The average $162 sales price is $3,200,000

$59,000

$199

$33

$267,500

-$18,500

$154

-$17

(Max)

(Min)

(Max)

(Min)

$1,040,000 (Max) $1,307,500 $2,750,000

$217,500 (Min) $199,000 $785,000

$355 (Max) $509 $561

$196 (Min) $179 $269

$1,307,500 $509 up, but primarily$199,000 due to a specific sale, which$179 brought the Sales Price Salesare Price Sales Sales $/SF average up. Many looking to $/SF these towers as a great Sales Price Price to Sales $/SFVegas SalesStrip $/SF makes value and theirSales location the Las

them a very attractive option.

% Short Sales % Short 0% Sales 0% 7% 0%

$267,500 $2,200,000 -$550,000 Sales Price (Max) Sales Price $2,750,000 (Max) $2,200,000 $425,000 -$550,000 $885,000

-$18,500 $1,050,000 $265,000 Sales Price (Min) Sales Price $785,000 (Min) $1,050,000 $59,900 $265,000 $100,000

$154 $569 $8 Sales $/SF (Max) Sales $/SF $561 (Max)

-$17 $360 $91 Sales $/SF (Min) Sales $/SF $269 (Min)

% Short Sales % Short

$460,000 Sales Price (Max) Sales Price

$40,100 Sales Price (Min) Sales Price

$91 Sales $/SF (Max) Sales $/SF

$27 Sales $/SF (Min) Sales $/SF

$569 $192 $8 $283

$360 $38 $91 $65


2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ 2012 MidYear 2013 MidYear 2012 MidYear Δ 2013 MidYear Δ

2012 MidYear 2013 MidYear Δ

2012 MidYear 2013 MidYear Δ

2012 MidYear 2013 MidYear Δ

2012 MidYear 2013 MidYear Δ

2012 MidYear 2013 MidYear Δ

Transactions #33of Transactions 30 34 -3 61 #27 of Transactions #24of Transactions 29 3 5 4 # 1of Transactions #2of Transactions 43 14 41 12 #-2of Transactions #2of Transactions 45

Price ($) Average Sales $211,739 Price ($) $257,697 $330,147 $45,958 $429,821 $99,674 Average Sales Price ($) Average Sales $497,556 Price ($) $508,983 $1,761,667 $11,427 $1,687,500 -$74,167 Average Sales Price ($) Average Sales $396,550 Price ($) $507,361 $156,207 $110,811 $293,750 $137,543 Average Sales Price ($) Average Sales $2,399,500 Price ($) $1,120,357

-3

$45,958

of ## of Transactions Transactions 24 7

Average Sales Sales Average Price ($) Price ($) $497,556 $165,286

# of Transactions

Average Sales Price ($)

52 1 43 -4 41

$251,000 $396,550 $276,000 $507,361 $25,000 $110,811

# of Transactions

Average Sales Price ($)

2 45 43

$2,399,500 $1,120,357 -$1,279,143

# of Transactions

Average Sales Price ($)

7 6 -1

$165,286 $280,833 $115,547

# of Transactions

Average Sales Price ($)

5 1 -4

$251,000 $276,000 $25,000

33 43 30

29 6 -1 5

$211,739 -$1,279,143 $257,697

$508,983 $280,833 $115,547 $11,427

% REO %39% REO 27% 0% 0%

Sales %30% Short Sales 23% 0% 0%

(Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF $485,000 $119,000 $256 $136 (Max) (Min) (Max) (Min) $428,000 $125,000 $263 $141 $1,040,000 $217,500 $355 $196 -$57,000 $6,000 $7 $5 $1,307,500 $199,000 $509 $179 $267,500 -$18,500 $154 -$17 % Short Sales Price Sales Price Sales $/SF Sales $/SF Sales (Max) (Min) (Max) (Min) %25% Short Sales Price Sales Price Sales $/SF Sales $/SF $1,526,067 $175,000 $381 $96 Sales (Max) (Min) (Max) (Min) 17% $1,300,000 $264,000 $324 $152 0% $2,750,000 $785,000 $561 $269 -$226,067 $89,000 -$57 $56 0% $2,200,000 $1,050,000 $569 $360 These contemporary lofts are the highlight of the downtown -$550,000 $265,000 $91 % Short Sales Price Sales Price Sales$8$/SF Sales $/SF residential scene. advent of the (Max) downtown redevelopment Sales (Max)With the (Min) (Min) % 0% Short Sales Price Sales Price Sales $/SF these Sales $/SF are in efforts, sponsored by Tony Hsieh of Zappos.com, units $407,000 $386,100 $488 $461 Sales (Max) (Min) (Max) (Min) 0%demand and $1,630,000 $201,388 $279 pricing continues to go up. $681 7% $425,000 $59,900 $192 $38 $1,223,000 -$184,712 $193 -$182 » click for more information« 0% $885,000 $100,000 $283 $65 $460,000 $40,100 $91 $27 % Short Sales Price Sales Price Sales $/SF Sales $/SF Sales (Max) (Min) (Max) (Min) % 0% Short Sales Price Sales Price Sales $/SF Sales $/SF $2,874,000 $1,925,000 $959 $919 Sales (Max) (Min) (Max) (Min) 0% $3,100,000 $325,000 $779 $250

Downtown

% REO

%17% REO 3% 0% 25% % REO % 0% REO 0% 36% 17% % REO % 0% REO 0% 39% 27%

NEWPORT LOFTS

$485,000 $226,000 $428,000

$119,000 -$1,600,000 $125,000

$256 -$180 $263

$136 -$669 $141

-$57,000

$6,000

$7

$5

% Short Short % Sales Sales 25% 14%

Sales Price Price Sales (Max) (Max) $1,526,067 $330,000

Sales Price Price Sales (Min) (Min) $175,000 $110,000

Sales $/SF $/SF Sales (Max) (Max) $381 $200

Sales $/SF $/SF Sales (Min) (Min) $96 $104

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

0% 0%

100% 0% 0%

$625,000 $407,000 $276,000 $1,630,000 -$349,000 $1,223,000

$140,000 $386,100 $276,000 $201,388 $136,000 -$184,712

$135 $488 $174 $681 $39 $193

$88 $461 $174 $279 $86 -$182

% REO REO % 17% 0% 3% 0%

% REO 0% 0%

30% 23%

17%

$1,300,000 $410,000 $80,000 -$226,067

$264,000 $175,000 $65,000 $89,000

$324 $205 $5 -$57

SOHO LOFTS

$152 $150 $46 $56

The first ofSales our Price downtown residential still a favorite % Short Sales Price lofts Salesis$/SF Sales $/SFwith its Sales (Max) There(Min) Art Deco flair(Max) and proximity(Min) to the arts district. has not been 0% $2,874,000 $1,925,000 much in the way of inventory available 0% $3,100,000 $325,000 demand as they become available. $226,000 -$1,600,000 » click for more information«

$959 as of late, but$919 there is still $779 -$180

$250 -$669

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

0% 0%

14% 17%

$330,000 $410,000 $80,000

$110,000 $175,000 $65,000

$200 $205 $5

$104 $150 $46

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

0% 0%

100% 0%

$625,000 $276,000 -$349,000

$140,000 $276,000 $136,000

$135 $174 $39

$88 $174 $86


2012 MidYear

-11 # of Transactions # of

Transactions 14

$40,981 Average Sales Price ($) Average Sales

2013 MidYear 2012 Δ 2013 MidYear

12 1 -2 5

$293,750 $375,000 $137,543 $393,000

Δ 2012 MidYear

4 # of Transactions # of

Transactions 33

$18,000 Average Sales Price ($) Average Sales

2013 MidYear 2012 Δ 2013 MidYear

30 7 -3 35

$257,697 $1,132,571 $45,958 $1,334,629

Δ

28 # of Transactions # of

$202,058 Average Sales Price ($) Average Sales

Δ

Price ($) $156,207

Price ($) $211,739

% REO % REO 36%

$100,000 $375,000 $40,100 $335,000

$283 $119 $91 $155

$65 $119 $27 $119

-$40,000 Sales Price (Min) Sales Price

$36 Sales $/SF (Max) Sales $/SF

$0 Sales $/SF (Min) Sales $/SF

CityCenter

Sales 7%

(Max) $425,000

60%

% REO

% Short %Sales Short

$135,000 Sales Price (Max) Sales Price

% REO 39% 27% 14% 0% % REO 3% 27% 0%

7 # of Transactions # of

$241,265 Average Sales Price ($) Average Sales

% REO % REO 0% 0% 0%

(Max) $1,526,067

(Min) $175,000

(Max) $381

(Min) $96

17% $1,300,000 38% $700,000 residences. -$226,067 27% $3,900,000

$264,000 $110,000 $89,000 $169,000

$324 $271 -$57 $470

$152 $129 $56 $162

Sales Price (Max) Sales Price

$59,000 Sales Price (Min) Sales Price

$199 Sales $/SF (Max) Sales $/SF

$33 Sales $/SF (Min) Sales $/SF

$267,500 Sales Price (Max) Sales Price $2,874,000 (Max) $3,100,000 $2,750,000 $226,000 $2,200,000

-$18,500 Sales Price (Min) Sales Price $1,925,000 (Min) $325,000 $785,000 -$1,600,000 $1,050,000

$154 Sales $/SF (Max) Sales $/SF $959 (Max) $779 $561 -$180 $569

-$17 Sales $/SF (Min) Sales $/SF $919 (Min) $250 $269 -$669 $360

-$550,000

$265,000

$8

$91

» click for more information« $3,200,000

% Short %Sales Short

2012 MidYear 2013 MidYear MidYear 2012 Δ 2013 MidYear

$99,674 Average Sales Price ($) Average Sales $2,399,500 Price ($) $1,120,357 $1,761,667 -$1,279,143 $1,687,500

Δ

1

-$74,167

2012 MidYear 2012 MidYear 2013 MidYear 2013 MidYear Δ Δ

# of # of Transactions Transactions 14 7 12 6 -2 -1

Average Sales Average Sales Price ($) Price ($) $156,207 $165,286 $293,750 $280,833 $137,543 $115,547

2012 MidYear 2012 MidYear 2013 MidYear 2013 MidYear Δ Δ

# of # of Transactions Transactions 33 5 30 1 -3 -4

Average Sales Average Sales Price ($) Price ($) $211,739 $251,000 $257,697 $276,000 $45,958 $25,000

# of Transactions

Average Sales Price ($)

% REO

2012 MidYear

24

$497,556

17%

25%

$1,526,067

2013 MidYear Δ

29 5

$508,983 $11,427

3%

17%

# of Transactions

Average Sales Price ($)

% REO

2 43 41

$396,550 $507,361 $110,811

0% 0%

# of

Average Sales

0% 0% 25%

% REO % REO 36% 0% 17% 0% % REO % REO 39% 0% 27% 0%

(Min) $136

still exist. Now is the time to take advantage of these remarkable

27 # of Transactions # of 2 Transactions 45 3 43 4

% 0% REO

(Min) $38

response to their lowered pricing and some great opportunities

Sales 25%

Δ

% REO

(Max) $192

23% $428,000 $125,000 address $263 $141 57% $2,700,000 $684,000 $543 As the most prestigious residential on the Las$254 Vegas Strip, -$57,000 $6,000 $7 $5 3% $3,300,000 $600,000 $958 $264 Mandarin Oriental sets the standard for luxury highrise living $600,000 -$84,000 $415 $10 with its unparalleled received overwhelming % Short Sales Price service. SalesThey Price haveSales $/SF anSales $/SF Sales (Max) (Min) (Max) (Min) % Short Sales Price Sales Price Sales $/SF Sales $/SF

2 Transactions 43 34 41 61

0%

(Min) $59,900

MANDARIN ORIENTAL (Max) (Min) (Max) $485,000 $119,000 $256

Sales 30%

2012 MidYear 2013 MidYear MidYear 2012 Δ 2013 MidYear

2012 MidYear 2013 MidYear Δ

$396,550 Price ($) $507,361 $330,147 $110,811 $429,821

$15 Sales $/SF (Min) Sales $/SF

0%

$508,983 $271,353 $11,427 $512,618

Δ

$65 Sales $/SF (Max) Sales $/SF

$885,000 $375,000 $460,000 $510,000

29 26 5 33

2013 MidYear 2012 Δ 2013 MidYear

$40,900 Sales Price (Min) Sales Price

0% 100%

% REO 17%

Transactions 24

$145,000 Sales Price (Max) Sales Price

17% 0%

Price ($) $497,556

2012 MidYear

% Short %Sales Short

0% Sales 0% 0% 0%

% Short Sales % Short 0% Sales 0% 0% 0%

$407,000 (Max) $1,630,000 $1,040,000 $1,223,000 $1,307,500

$386,100 (Min) $201,388 $217,500 -$184,712 $199,000

$488 (Max) $681 $355 $193 $509

$461 (Min) $279 $196 -$182 $179

% Short %Sales Short Sales 7% 14% 0% 17%

Sales Price Sales Price Sales $/SF Sales $/SF Sales Price Sales Price Sales $/SF Sales $/SF (Max) (Min) (Max) (Min) (Max) (Min) (Max) (Min) $425,000 $59,900 $192 $38 $330,000 $110,000 $200 $104 $885,000 $100,000 $283 $65 $410,000 $175,000 $205 $150 $40,100 $91 design $27 The iconic $460,000 architecture and contemporary of the Veer $80,000 $65,000 $5 $46

VEER TOWERS

towers sets them apart from all other buildings on the Las Vegas

% Short Sales Price Sales Price Sales $/SF Sales $/SF %Sales Short Sales Price the Sales $/SF Sales $/SF was Strip. As part ofPrice a recent Sales investment, remaining inventory (Max) (Min) (Max) (Min) Sales (Max) (Min) (Max) (Min) 30% $485,000 $119,000 $256 coming$136 purchased from the Developer and has begun to market at 100% $625,000 $140,000 $135 $88 23% $428,000pricing. $125,000 $141 new and favorable Call us now $263 for details on their latest 0% $276,000 $276,000 $174 $174 -$57,000 $6,000 $7 $5 -$349,000 $136,000 $39 $86 investor programs. » click for more information« % Short Sales Price Sales Price Sales (Max) (Min)

Sales $/SF (Max)

Sales $/SF (Min)

$175,000

$381

$96

$1,300,000 -$226,067

$264,000 $89,000

$324 -$57

$152 $56

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

0% 0%

$407,000 $1,630,000 $1,223,000

$386,100 $201,388 -$184,712

$488 $681 $193

$461 $279 -$182

% Short

Sales Price

Sales Price

Sales $/SF

Sales $/SF


Don Kuhl 800.925.0451 • VegasVerticals.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 The Kuhl Group or Sotheby’s International Realty®


VegasVerticals.com 2013 Second Qtr Market Report