THIRD QUARTER
2 0 1 3
VEGAS
LUXURYSKYRISE
Perspective 2013
As we move forward into the second half of the year, we continue to see an increase in demand for the highrise segment of the market. Our available inventory continues to be more limited, thus 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 quarters, coupled with our low inventory levels and no new developments on the horizon, 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 VegasLuxurySkyRise.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.
Isaac Moore 702.306.5866 Ike@SynergySIR.com
* All information from sources deemed to be reliable although not warranted or guaranteed by Isaac Moore or Sotheby’s International RealtyŽ
VegasLuxurySkyRise.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. 14. 15. 16.
Turnberry Place Newport Lofts Soho Lofts 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 QTR3
126
$201,485
6%
23%
$545,000
$95,159
$808
$183
2013 QTR3 Δ
74 -52
$223,091 $21,606
3%
22%
$625,000 $80,000
$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)
36 30 -6
$177,964 $259,213 $81,249
11% 3%
25% 13%
$380,000 $1,650,000 $1,270,000
$113,000 $120,000 $7,000
$341 $423 $82
$184 $195 $11
# of Transactions
Average Sales Price ($)
% REO
% Short Sales
Sales Price (Max)
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
2012 QTR3 2013 QTR3
45 38
$246,757 $345,225
0% 0%
31% 11%
$480,000 $1,605,000
$150,000 $186,900
$563 $925
$271 $350
Δ
-7
$98,468
$1,125,000
$36,900
$362
$79
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
2012 QTR3 2013 QTR3 Δ
sridge Place # of Transactions
Average Sales Price ($)
% REO
% Short Sales
Sales Price (Max)
2012 QTR3
40
$218,620
28%
10%
$700,000
$89,000
$278
$89
2013 QTR3 Δ
22 -18
$248,915 $30,295
18%
14%
$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)
1 7 6
$375,000 $429,286 $54,286
0% 0%
100% 43%
$375,000 $525,000 $150,000
$375,000 $335,000 -$40,000
$119 $180 $61
$119 $119 $0
# of Transactions
Average Sales Price ($)
% REO
% Short Sales
Sales Price (Max)
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
2012 QTR3
10
$1,086,800
10%
40%
$2,700,000
$650,000
$543
$246
2013 QTR3 Δ
54 44
$1,451,778 $364,978
0%
2%
$4,500,000 $1,800,000
$600,000 -$50,000
$958 $415
$264 $18
# of Transactions
Average Sales Price ($)
% REO
% Short Sales
Sales Price (Max)
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
2012 QTR3 2013 QTR3
39 47
$268,030 $467,908
23% 2%
44% 23%
$700,000 $3,900,000
$110,000 $169,000
$286 $470
$129 $162
Δ
8
$199,878
$3,200,000
$59,000 $184 $33 VegasLuxurySkyRise.com
# of Transactions
Average Sales Price ($)
% REO
% Short Sales
Sales Price (Max)
Sales Price (Min)
61
$350,616
0%
2%
$1,040,000
$200,000
2012 QTR3 2013 QTR3 Δ
2012 QTR3
Sales $/SF Sales $/SF LLC 2013 - TIME Nevada, (Max) (Min) $383
$193
Condotels
This segment of the market has shown resurgence in the last two years as the prices have dropped dramatically and have provided an excellent opportunity for people looking for a luxury vacation property while getting a financial offset through various rental programs.
MGM SIGNATURE The popularity of this condotel property over the past few years is now reflected in the more limited amount of inventory available for sale. Sales volume is down over 40% from the same time last year and is primarily due to the reduced inventory resulting in higher average sales price. The balance has shifted somewhat giving Sellers more leverage than before, but pricing is still far off from the peak and is still considered a good deal. # of Transactions
Average Sales Price ($)
REO
%Short Sales
Sales Price (Max)
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
2012 QTR3
126
$201,485
6%
23%
$545,000
$95,159
$808
$183
2013 QTR3 Δ
74 -52
$223,091 $21,606
3%
22%
$625,000 $80,000
$125,000 $29,841
$549 -$259
$224 $41
# of
Average Sales
% Short
Sales Price
Sales Price
Sales $/SF
Sales $/SF
PALMS PLACE Hip and modern is definitely the theme of Palms Place and continues to get a lot of attention from buyers. Sales volume is down slightly from the same time last year due to a lack of inventory. Prices are still offering great value and will likely continue to be in demand for the remainder of this year and into 2014.
# of Transactions
Average Sales Price ($)
REO
%Short Sales
Sales Price (Max)
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
2012 QTR3
126
$201,485
6%
23%
$545,000
$95,159
$808
$183
2013 QTR3 Δ
74 -52
$223,091 $21,606
3%
22%
$625,000 $80,000
$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 QTR3
36
$177,964
11%
25%
$380,000
$113,000
$341
$184
2013 QTR3 Δ
30 -6
$259,213 $81,249
3%
13%
$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 QTR3 2013 QTR3
45 38
$246,757 $345,225
0% 0%
31% 11%
$480,000 $1,605,000
$150,000 $186,900
$563 $925
$271 $350
Δ
-7
$98,468
T $1,125,000 R U M P$36,900 T O W$362E R
$79
This classic and luxuriously appointed condotel is now # of Transactions 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3
# 40 of Transactions 22 -18 126 74 # of -52 Transactions
Average Sales Price ($)
% REO
% Short Sales
$218,620 Average Sales Price ($) $248,915
28% REO 18%
10% %Short Sales 14%
$30,295 $201,485
6%
23%
$223,091 Average Sales $21,606 Price ($)
3% % REO
22% % Short Sales
1 # of 7 Transactions
$375,000 Average Sales $429,286 Price ($)
0% % REO 0%
% 100% Short 43% Sales
Δ 2012 QTR3
366
$54,286 $177,964
11%
25%
2013 QTR3 Δ
30 # of -6 Transactions
$259,213 Average Sales $81,249 Price ($)
2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3
# 10 of 54 Transactions 44 45
$1,086,800 Average Sales $1,451,778 Price ($) $364,978 $246,757
38 # of -7 Transactions
$345,225 Average Sales $98,468 Price ($)
39
$268,030
3% % REO 10% % REO 0%
13% % Short Sales 40% % Short 2% Sales
seeing significantly more attention, primarily from Sales Price
Sales Price
Sales $/SF
Sales $/SF
international buyers. has gone (Max) (Min) The number (Max) of sales (Min)
down slightly Sales from same Sales time last year, but $700,000 $89,000 $278 Sales Price Price $/SF Sales$89 $/SFwe are (Max) (Min) (Max) (Min) $845,000 $343 $104 There definitely seeing$129,900 some upward pricing pressure. $145,000 $545,000
$40,900 $95,159
$65 $808
$15 $183
$625,000
$125,000
$549
$224
(Max)
(Min)
are still great opportunities on developer inventory for Saleswho Priceare still Saleslooking Price Sales $/SF on Sales $/SF with those for luxury the Strip $80,000 $29,841 -$259 $41 (Max)
(Min)
opportunistic pricing. $375,000 Sales Price $525,000 (Max)
$375,000 Sales Price $335,000 (Min)
$119 Sales $/SF $180 (Max)
$119 Sales $/SF $119 (Min)
$150,000 $380,000
-$40,000 $113,000
$61 $341
$0 $184
$1,650,000 Sales Price $1,270,000 (Max)
$120,000 Sales Price $7,000 (Min)
$423 Sales $/SF $82 (Max)
$2,700,000 Sales Price $4,500,000 (Max) $1,800,000 $480,000
$650,000 Sales Price $600,000 (Min) -$50,000 $150,000
$543 Sales $/SF $958 (Max) $415 $563
$195 Sales $/SF $11 (Min) $246 Sales $/SF $264 (Min) $18 $271
0% 0% % REO
31% 11% % Short Sales
$1,605,000 Sales Price $1,125,000 (Max)
$186,900 Sales Price $36,900 (Min)
$925 Sales $/SF $362 (Max)
$350 Sales $/SF $79 (Min)
23%
44%
$700,000
$110,000
$286
$129
# of -18 Transactions
Average Sales $30,295 Price ($)
% Short Sales
Sales Price $145,000 (Max)
Sales Price $40,900 (Min)
Sales $/SF $65 (Max)
Sales $/SF $15 (Min)
2012 QTR3 2013 QTR3 2012 ΔQTR3
#10of 54 Transactions 44 1
$1,086,800 Average Sales $1,451,778 Price ($) $364,978 $375,000
10% % REO 0%
%40% Short 2% Sales
0% 0% % REO
100% 43% % Short Sales
$2,700,000 Sales Price $4,500,000 (Max) $1,800,000 $375,000
$650,000 Sales Price $600,000 (Min) -$50,000 $375,000
$543 Sales $/SF $958 (Max) $415 $119
$246 Sales $/SF $264 (Min) $18 $119
2013 QTR3 Δ
7 # of 6 Transactions
$429,286 Average Sales $54,286 Price ($)
$525,000 Sales Price $150,000 (Max)
$335,000 Sales Price -$40,000 (Min)
$180 Sales $/SF $61 (Max)
$119 Sales $/SF $0 (Min)
2012 QTR3 2013 QTR3
#39of 47 Transactions 8 10
$268,030 Average Sales $467,908 Price ($) $199,878 $1,086,800
23% % REO 2%
%44% Short 23% Sales
$129 Sales $/SF $162 (Min)
40% 2% % Short Sales
$110,000 Sales Price $169,000 (Min) $59,000 $650,000
$286 Sales $/SF $470 (Max)
10% 0% % REO
$700,000 Sales Price $3,900,000 (Max) $3,200,000 $2,700,000
54 # of 44 Transactions
$1,451,778 Average Sales $364,978 Price ($)
2012 QTR3 2013 QTR3 2012 ΔQTR3
#61of 85 Transactions 24 39
$350,616 Average Sales $446,942 Price ($) $96,326 $268,030
0% % REO 0%
% 2% Short 0% Sales
2013 QTR3 Δ
47 # of 8 Transactions
$467,908 Average Sales $199,878 Price ($)
23% 2% % REO
44% 23% % Short Sales
2012 QTR3 2013 QTR3
#4of 6 Transactions 2 61
$1,996,250 Average Sales $2,618,333 Price ($) $622,083 $350,616
0% % REO 0%
2013 QTR3 Δ
85 # of 24 Transactions
2012 QTR3 2013 QTR3 2012 ΔQTR3
Δ
% REO
R E S I D E N C E S 2012 ΔQTR3 2013 QTR3 Δ
P A R K T O W E$184 RS $543
$33 $246 $4,500,000 $600,000 These two towers continue to$958 serve as one$264 of the most Sales Price Sales Price Sales $/SF Sales $/SF $1,800,000 -$50,000 $415 $18 (Max) and exclusive (Min) (Max) addresses, (Min)home to distinctive highrise $1,040,000 $200,000 $383 $193 Sales of Price Sales Price Sales $/SF Sales $/SF This many the most influential Las Vegas residents. $1,307,500 (Max) $267,500 $700,000
$199,000 (Min) -$1,000 $110,000
$509 (Max) $126 $286
$179 (Min) -$14 $129
(Max)
(Min)
(Max)
(Min)
% 0% Short 17% Sales
$2,750,000 Sales Price $8,000,000 (Max)
0%
2%
$5,250,000 $1,040,000
$785,000 Sales Price $960,000 (Min) $175,000 $200,000
$561 Sales $/SF $769 (Max) $208 $383
$269 Sales $/SF $360 (Min) $91 $193
$446,942 Average Sales $96,326 Price ($)
0% % REO
0% % Short Sales
$1,307,500 Sales Price $267,500 (Max)
$199,000 Sales Price -$1,000 (Min)
$509 Sales $/SF $126 (Max)
$179 Sales $/SF -$14 (Min)
#19of 17 Transactions -2 4
$142,153 Average Sales $254,735 Price ($) $112,582 $1,996,250
26% % REO 12%
%21% Short 0% Sales
0%
0%
$425,000 Sales Price $885,000 (Max) $460,000 $2,750,000
$59,900 Sales Price $100,000 (Min) $40,100 $785,000
$192 Sales $/SF $283 (Max) $91 $561
$38 Sales $/SF $65 (Min) $27 $269
2013 QTR3 Δ
6 # of 2 Transactions
$2,618,333 Average Sales $622,083 Price ($)
0% % REO
17% % Short Sales
$8,000,000 Sales Price $5,250,000 (Max)
$960,000 Sales Price $175,000 (Min)
$769 Sales $/SF $208 (Max)
$360 Sales $/SF $91 (Min)
2012 QTR3 2013 QTR3 2012 ΔQTR3
#3of 78 Transactions 75 19
$2,033,000 Average Sales $2,143,612 Price ($) $110,612 $142,153
0% % 0% REO
% 0% Short 0% Sales
$959 Sales $/SF $790 (Max) -$169 $192
$787 Sales $/SF $265 (Min) -$522 $38
17 # of -2 Transactions
$254,735 Average Sales $112,582 Price ($)
21% 0% % Short Sales
$1,300,000 Sales Price $325,000 (Min) -$975,000 $59,900
2013 QTR3 Δ
26% 12% % REO
$2,874,000 Sales Price $3,100,000 (Max) $226,000 $425,000 $885,000 Sales Price $460,000 (Max)
$100,000 Sales Price $40,100 (Min)
$283 Sales $/SF $91 (Max)
$65 Sales $/SF $27 (Min)
2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ
5 # of 85 Transactions 80 3 78 # of 75 Transactions
$404,333 Average Sales $494,309 Price ($) $89,976 $2,033,000 $2,143,612 Average Sales $110,612 Price ($)
0% % 0% REO
0% % Short 0% Sales
0% 0% % REO
0% 0% % Short Sales
2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ
28 # of 29 Transactions 1 5 85 # of 80 Transactions
$319,082 Average Sales $304,760 Price ($) -$14,322 $404,333 $494,309 Average Sales $89,976 Price ($)
14% % 3% REO
18% % Short 28% Sales
0% 0% % REO
0% 0% % Short Sales
2012 QTR3 2013 QTR3 2012 ΔQTR3
43 # of 39 Transactions -4 28
$218,340 Average Sales $263,057 Price ($) $44,717 $319,082
35% %26% REO
33% % Short 21% Sales
2013 QTR3 Δ
29 # of 1 Transactions
$304,760 Average Sales -$14,322 Price ($)
14% 3% % REO
2012 QTR3 2013 QTR3
#40of 38 Transactions
2012 ΔQTR3
-2 43
$480,789 Average Sales $510,574 Price ($) $29,785 $218,340
2013 QTR3 Δ
39 -4
$263,057 $44,717
2012 ΔQTR3
property doesn’t traditionally have much in the way of$3,900,000 turnover, but$169,000 we did see a $470 slight increase in activity $162 Sales Price Sales Price Sales $/SF Sales $/SF from this time last year. $3,200,000 $59,000 $184 $33
TSales U Price RNB E R R YSales$488P$/SFL ASales C$413$/SF E $419,900 $386,100 Sales Price
$1,630,000 $201,388 $665 $270 $1,210,100 -$184,712 $177 -$143 $1,300,000 $959 $787 to$2,874,000 be one of the premier residences of the Las Vegas $3,100,000 $325,000 $790 $265 Sales Sales Price volume Sales Price Sales $/SF from Sales Strip. remained steady this$/SF time last $226,000 -$975,000 -$169 -$522 (Max) (Min) (Max) (Min) (Max) compound (Min)continue The(Max) four towers (Min) of this prestigious
year but overall$155,000 pricing is on the $700,000 $422rise. Sales Price $655,000 (Max) -$45,000 $419,900 $1,630,000 Sales Price $1,210,100 (Max)
Sales Price $128,000 (Min) -$27,000 $386,100 $201,388 Sales Price -$184,712 (Min)
Sales $/SF $452 (Max) $30 $488 $665 Sales $/SF $177 (Max)
$149 Sales $/SF $174 (Min) $25 $413 $270 Sales $/SF -$143 (Min)
18% 28% % Short Sales
$485,000 Sales Price $435,000 (Max) -$50,000 $700,000
$119,000 Sales Price $125,000 (Min) $6,000 $155,000
$256 Sales $/SF $297 (Max) $41 $422
$136 Sales $/SF $141 (Min) $5 $149
$655,000 Sales Price -$45,000 (Max)
$128,000 Sales Price -$27,000 (Min)
$452 Sales $/SF $30 (Max)
$174 Sales $/SF $25 (Min)
25% % REO 3%
%25% Short 16% Sales
$1,526,067 Sales Price $1,300,000 (Max)
$381 Sales $/SF $357 (Max)
$96 Sales $/SF $152 (Min)
35%
33%
-$226,067 $485,000
$175,000 Sales Price $264,000 (Min) $89,000 $119,000
-$24 $256
$56 $136
26%
21%
$435,000 -$50,000
$125,000 $6,000
$297 $41
$141 $5
# of Transactions
Average Sales Price ($)
1 7 6
$375,000 $429,286 $54,286
# of Transactions
Average Sales Price ($)
10 126 54 74 44 -52
$1,086,800 $201,485 $1,451,778 $223,091 $364,978 $21,606
# of Transactions
Average Sales Price ($)
39 36 47 30 8 -6
$268,030 $177,964 $467,908 $259,213 $199,878 $81,249
# of Transactions
Average Sales Price ($)
61 45 85 38 24 -7
$350,616 $246,757 $446,942 $345,225 $96,326 $98,468
# of Transactions
Average Sales Price ($)
4 # of 6 Transactions 2 40 #22 of
$1,996,250 Average Sales $2,618,333 Price ($) $622,083 $218,620 $248,915 Average Sales
2012 QTR3 2013 QTR3 Δ 2012 QTR3
19 # of 17 Transactions -2 1
2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3
% Short Sales
Sales Price (Max)
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
0% 0%
100% 43%
$375,000 $525,000 $150,000
$375,000 $335,000 -$40,000
$119 $180 $61
$119 $119 $0
%REO REO
%Short % Short Sales
Sales Price (Max)
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
10% 6% 0% 3%
40% 23% 2% 22%
$2,700,000 $545,000 $4,500,000 $625,000 $1,800,000 $80,000
$650,000 $95,159 $600,000 $125,000 -$50,000 $29,841
$543 $808 $958 $549 $415 -$259
$246 $183 $264 $224 $18 $41
% REO
% Short Sales
23% 11% 2% 3%
44% 25% 23% 13%
% REO
% Short Sales
0% 0%
% REO
R E S I D E N C E S 2012 QTR3 2013 QTR3 Δ
2012 QTR3 2013 QTR3 Δ
2012 QTR3 2013 QTR3 Δ
2012 QTR3 2013 QTR3 Δ
2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ
Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3
ALLURE
Now building been completely sold out Salesthat Price the Sales Price hasSales $/SF Sales $/SF (Max) (Min) from the developer, inventory(Max) is now only (Min) coming from $700,000 $110,000 $286 $129 $380,000 $113,000 $184 resales which has limited the $341 sales. The average price $3,900,000 $1,650,000
$169,000 $120,000
$470 $423
$162 $195
increase reflects$59,000 these limitations on inventory. This is $3,200,000 $184 $33 $1,270,000 $7,000 $82 $11 still one of the most affordable highrise opportunities on the Strip. (Max)
Sales Price
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
2% 31% 0% 11%
$1,040,000 $480,000 $1,307,500 $1,605,000 $267,500 $1,125,000
$200,000 $150,000 $199,000 $186,900 -$1,000 $36,900
$383 $563 $509 $925 $126 $362
$193 $271 $179 $350 -$14 $79
% REO
% Short Sales
Sales Price (Max)
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
0% % 0% REO
0% % Short 17% Sales
$2,750,000 Sales Price $8,000,000 (Max)
28% 18% % REO
10% %14% Short
$5,250,000 $700,000 $845,000 Sales Price
$785,000 Sales Price $960,000 (Min) $175,000 $89,000 $129,900 Sales Price
$561 Sales $/SF $769 (Max) $208 $278 $343 Sales $/SF
$269 Sales $/SF $360 (Min) $91 $89 $104 Sales $/SF
$142,153 Average Sales $254,735 Price ($) $112,582 $375,000
26% %12% REO
21% % Short 0% Sales
0%
100%
$425,000 Sales Price $885,000 (Max) $460,000 $375,000
$59,900 Sales Price $100,000 (Min) $40,100 $375,000
$192 Sales $/SF $283 (Max) $91 $119
$38 Sales $/SF $65 (Min) $27 $119
# 7of 6 Transactions
$429,286 Average Sales $54,286 Price ($)
0% % REO
%43% Short Sales
$525,000 Sales Price $150,000 (Max)
$335,000 Sales Price -$40,000 (Min)
$180 Sales $/SF $61 (Max)
$119 Sales $/SF $0 (Min)
3 # of 78 Transactions 75 10 #54 of Transactions 44
$2,033,000 Average Sales $2,143,612 Price ($) $110,612 $1,086,800 $1,451,778 Average Sales Price ($) $364,978
0% % 0% REO
0% % Short 0% Sales
10% 0% % REO
40% % 2% Short Sales
5 #85 of Transactions 80 39 #47 of Transactions 8
$404,333 Average Sales $494,309 Price ($) $89,976 $268,030 Average Sales $467,908 Price ($) $199,878
0% % 0% REO
0% % 0% Short Sales
23% % 2% REO
44% %23% Short Sales
$319,082 $304,760 Average Sales Price ($) -$14,322 $350,616 Average Sales $446,942 Price ($) $96,326 $218,340
14% 3% % REO
18% %28% Short Sales
0% % 0% REO
2% % 0% Short Sales
35%
$263,057 Average Sales Price ($) $44,717 $1,996,250 Average Sales $2,618,333 Price ($)
-18 Transactions
28 #29 of Transactions 1 61 #85 of Transactions 24 43 #39 of Transactions -4 4 # 6of Transactions
$30,295 Price ($)
Sales
$145,000 (Max)
$40,900 (Min)
$65 (Max)
$15 (Min)
S$2,874,000 K Y L$1,300,000 A S V E$959 G A S $787
Sales Price Sales Price Sales $/SF Sales $/SF $3,100,000 $325,000 $790 $265 $226,000 -$975,000 -$169 -$522 to$2,700,000 be one of the$650,000 most sought $543 after highrise$246 properties. $4,500,000 $600,000 $958 $264 Salesthe Pricedevelopment Sales Priceefforts Sales $/SF now With on$/SF the SLSSales property (Max) (Min) (Max) (Min) $1,800,000 -$50,000 $415 $18 (Max) right on (Min) (Max) Strip, Sky (Min) Situated the Las Vegas continues
underway, sales price $488 is on the rise. Sellers are $419,900 average $386,100 $413 Sales Price position Sales Price $/SF Sales $/SFstaying $201,388 $665 $270 in$1,630,000 a strong at this Sales time with units not (Max) $1,210,100
(Min) -$184,712
Sales Price $3,900,000 (Max) $3,200,000
33%
$700,000 $655,000 Sales Price (Max) -$45,000 $1,040,000 Sales Price $1,307,500 (Max) $267,500 $485,000
Sales Price $169,000 (Min) $59,000
26% % REO
%21% Short Sales
$435,000 Sales Price (Max) -$50,000
$125,000 Sales Price (Min) $6,000
0% % 0% REO
0% %17% Short Sales
$2,750,000 Sales Price $8,000,000 (Max)
$785,000 Sales Price $960,000 (Min)
on$700,000 the market for long. $110,000 $155,000 $128,000 Sales Price (Min) -$27,000 $200,000 Sales Price $199,000 (Min) -$1,000 $119,000
(Max) $177 $286 Sales $/SF $470 (Max) $184
(Min) -$143 $129 Sales $/SF $162 (Min) $33
$297 Sales $/SF (Max) $41 $561 Sales $/SF $769 (Max)
$141 Sales $/SF (Min) $5 $269 Sales $/SF $360 (Min)
$422 $452 Sales $/SF (Max) $30 $383 Sales $/SF $509 (Max) $126 $256
$149 $174 Sales $/SF (Min) $25 $193 Sales $/SF $179 (Min) -$14 $136
# of Transactions
Average Sales Price ($)
% REO
% Short Sales
Sales Price (Max)
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
2012 QTR3 2013 QTR3
45 38
$246,757 $345,225
0% 0%
31% 11%
$480,000 $1,605,000
$150,000 $186,900
$563 $925
$271 $350
Δ
-7
$98,468
$1,125,000
$36,900
$362
$79
##of of Transactions Transactions
Average AverageSales Sales Price Price($) ($)
REO % REO
%Short % Short Sales Sales
Sales Price
Sales Price
Sales $/SF
Sales Sales$/SF $/SF (Min) (Min)
2012 2012QTR3 QTR3
126 40
$201,485 $218,620
6% 28%
23% 10%
2013QTR3 QTR3 2013 ΔΔ
22 74 -18 -52
$248,915 $223,091 $30,295 $21,606
18% 3%
14% 22%
of ##of Transactions Transactions
AverageSales Sales Average Price($) ($) Price
%REO REO %
%Short Short % Sales Sales
361 307 -66
$375,000 $177,964 $429,286 $259,213 $54,286 $81,249
0% 11% 0% 3%
100% 25% 43% 13%
of ##of Transactions Transactions
AverageSales Sales Average Price($) ($) Price
10 45 54 38 44 -7
$1,086,800 $246,757 $1,451,778 $345,225 $364,978 $98,468
# of Transactions
Average Sales Price ($)
39 # of 47 Transactions 8 40 22 # of -18 Transactions
R E S I D E N C E S
2012QTR3 QTR3 2012 2013QTR3 QTR3 2013 Δ Δ
Price Price Sales $/SF PSales A N OSales R(Min) A MA (Max) (Max) (Max) (Min) (Max)
$545,000 $95,159 $808 $700,000 $89,000 $278 $89 The two towers overlooking the world-class$183 architecture $845,000 $625,000 $80,000
$129,900 $125,000 $29,841
$343 $549 -$259
$104 $224 $41
SalesPrice Price Sales
SalesPrice Price Sales
Sales$/SF $/SF Sales
Sales$/SF $/SF Sales
of CityCenter saw an increase $65 in sales volume over the $145,000 $40,900 $15 same time last year. Sellers are starting to take notice
of the demand and have provided inventory, (Max) (Min) (Max)additional (Min) (Max) (Min) (Max) (Min) but$380,000 at a higher price. The pricing has shown$184 an increase $375,000 $375,000 $119 $119 $113,000 $341
$525,000 $335,000 $180 for the$195 $119 $423 on$1,650,000 average and$120,000 is likely to continue foreseeable $150,000
-$40,000 $7,000
$61 $82
$0 $11
$1,270,000 future. %REO REO %
%Short Short % Sales Sales
SalesPrice Price Sales (Max) (Max)
SalesPrice Price Sales (Min) (Min)
Sales$/SF $/SF Sales (Max) (Max)
Sales$/SF $/SF Sales (Min) (Min)
10% 0% 0% 0%
40% 31% 2% 11%
$2,700,000 $480,000 $4,500,000 $1,605,000 $1,800,000 $1,125,000
$650,000 $150,000 $600,000 $186,900 -$50,000 $36,900
$543 $563 $958 $925 $415 $362
$246 $271 $264 $350 $18 $79
% REO
% Short Sales
Sales Price (Max)
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
$268,030 Average Sales $467,908 Price ($) $199,878 $218,620 $248,915 Average Sales $30,295 Price ($)
23% % REO 2%
44% % Short 23% Sales
28% 18% % REO
10% 14% % Short Sales
$700,000 Sales Price $3,900,000 (Max) $3,200,000 $700,000 $845,000 Sales Price $145,000 (Max)
$110,000 Sales Price $169,000 (Min) $59,000 $89,000 $129,900 Sales Price $40,900 (Min)
$286 Sales $/SF $470 (Max) $184 $278 $343 Sales $/SF $65 (Max)
$129 Sales $/SF $162 (Min) $33 $89 $104 Sales $/SF $15 (Min)
$350,616 Average Sales $446,942 Price ($) $96,326 $375,000 $429,286 Average Sales $54,286 Price ($)
0% % REO 0%
2% % Short 0% Sales
Δ
61 # of 85 Transactions 24 1 7 # of 6 Transactions
0% 0% % REO
100% 43% % Short Sales
$1,040,000 $200,000 $383 $193 Sales Price Sales Price Sales $/SF Sales $/SF $1,307,500 $199,000 $509 $179 (Max) (Min) (Max) (Min) $267,500 -$1,000 $126 -$14 $375,000 $375,000 $119 $119 $525,000 $335,000 $180 $119 Sales Price Salesfrom $/SF its Sales $/SFproject AsSales an Price independent property sister $150,000 -$40,000 $61 $0 (Max) (Min) (Max) (Min)
2012 QTR3 2013 QTR3
4 # of 6 Transactions
$1,996,250 Average Sales $2,618,333 Price ($)
0% % REO 0%
0% % Short 17% Sales
Sales Price inventory. Sales PriceOn the Salesresale $/SF side, Sales sales $/SF have developer $8,000,000 $960,000 $769 $360
10% 0% % REO
40% 2% % Short Sales
2012QTR3 QTR3 2012 2013QTR3 QTR3 2013 ΔΔ
2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3
Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3
2 10 54 # of 44 Transactions
$622,083 $1,086,800 $1,451,778 Average Sales $364,978 Price ($)
THE MARTIN
Panorama Towers, The Martin continues to sell its $2,750,000
$785,000
$561
$269
(Max)
(Min)
(Max)
(Min)
$5,250,000 $175,000 $208 $91 increased while maintaining a slight $2,700,000over 2010 $650,000 $543 $246 increase
in$4,500,000 the median sales price. $600,000 Sales Price $1,800,000 (Max)
Sales Price -$50,000 (Min)
$958 Sales $/SF $415 (Max)
$264 Sales $/SF $18 (Min)
$425,000 Sales Price $885,000 (Max) $460,000 $700,000 $3,900,000 Sales Price $3,200,000 (Max)
$59,900 Sales Price $100,000 (Min) $40,100 $110,000 $169,000 Sales Price $59,000 (Min)
$192 Sales $/SF $283 (Max) $91 $286 $470 Sales $/SF $184 (Max)
$38 Sales $/SF $65 (Min) $27 $129 $162 Sales $/SF $33 (Min)
$1,300,000 Sales Price $325,000 (Min) -$975,000 $200,000 $199,000 Sales Price (Min) -$1,000 $386,100 Sales Price $201,388
$959 Sales $/SF $790 (Max) -$169 $383 $509 Sales $/SF (Max) $126 $488 Sales $/SF $665
$787 Sales $/SF $265 (Min) -$522 $193 $179 Sales $/SF (Min) -$14 $413 Sales $/SF $270
$142,153 Average Sales $254,735 Price ($) $112,582 $268,030 $467,908 Average Sales $199,878 Price ($)
26% % 12% REO
21% % Short 0% Sales
Δ
19 # of 17 Transactions -2 39 47 # of 8 Transactions
23% 2% % REO
44% 23% % Short Sales
2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3
3 # of 78 Transactions 75 61 #85of Transactions 24 5 # 85 of
$2,033,000 Average Sales $2,143,612 Price ($) $110,612 $350,616 $446,942 Average Sales Price ($) $96,326
0% % REO 0%
0% % Short 0% Sales
0% 0% % REO
2% %0% Short Sales
$2,874,000 Sales Price $3,100,000 (Max) $226,000 $1,040,000 $1,307,500 Sales Price (Max) $267,500
$404,333 Average Sales $494,309
0% 0% % REO
0% % Short 0%
$419,900 Sales Price $1,630,000
2013 QTR3 Δ 2012 QTR3 2013 QTR3
2013 QTR3 Δ
#30 of -6 Transactions
$259,213 Average Sales $81,249 Price ($)
3% REO
13% %Short Sales
$1,650,000 Sales Price $1,270,000 (Max)
$120,000 Sales Price $7,000 (Min)
$423 Sales $/SF $82 (Max)
$195 Sales $/SF $11 (Min)
2012 QTR3
126 # of 74 Transactions -52 45
$201,485 Average Sales $223,091 Price ($) $21,606 $246,757
6% % 3% REO
23% % Short 22% Sales
$808 Sales $/SF $549 (Max) -$259 $563
$183 Sales $/SF $224 (Min) $41 $271
38 # of -7 Transactions
$345,225 Average Sales $98,468 Price ($)
31% 11% % Short Sales
$95,159 Sales Price $125,000 (Min) $29,841 $150,000
Δ
0% 0% % REO
$545,000 Sales Price $625,000 (Max) $80,000 $480,000
$1,605,000 Sales Price $1,125,000 (Max)
$186,900 Sales Price $36,900 (Min)
$925 Sales $/SF $362 (Max)
$350 Sales $/SF $79 (Min)
2012 QTR3 2013 QTR3
36 30
$177,964 $259,213
11% 3%
25% 13%
$380,000
$113,000
$341
$184 $195
Δ
-6 # of Transactions # of
$81,249 Average Sales Price ($) Average Sales
$1,270,000
$7,000
$82
$11
% REO
% Short %Sales Short
(Max) $700,000
(Min) $89,000
(Max) $278
(Min) $89
2011 levels. $145,000 $1,605,000
$845,000 $480,000
$129,900 $150,000 $40,900 $186,900
$343 $563 $65 $925
$104 $271 $15 $350
R E S I D E N C E S 2013 QTR3 2012 ΔQTR3 2013 QTR3
2012 QTR3
Transactions 40
Price ($) $218,620
% REO 28%
Sales 10%
M ETRO P O L I$423 S $1,650,000 $120,000
Overlooking the Wynn Sales Resort Course, the Sales Price Sales Price $/SF GolfSales $/SF (Max) (Min) (Max) (Min) Sales Price sawSales Sales $/SF Sales $/SF than Metropolis lessPrice significantly less sales activity in 2011, showing some pressure on average pricing from
2013 2012 QTR3 2013 ΔQTR3
22 45 -18 38
$248,915 $246,757 $30,295 $345,225
18% 0% 0%
14% 31% 11%
Δ
-7 # of Transactions
$98,468 Average Sales Price ($)
% REO
% Short Sales
$1,125,000 Sales Price (Max)
$36,900 Sales Price (Min)
$362 Sales $/SF (Max)
$79 Sales $/SF (Min)
Δ
1 7 # of 6 Transactions
$375,000 $429,286 Average Sales $54,286 Price ($)
0% 0% % REO
100% 43% % Short Sales
$375,000 $525,000 Sales Price $150,000 (Max)
$375,000 $335,000 Sales Price -$40,000 (Min)
$119 $180 Sales $/SF $61 (Max)
$119 $119 Sales $/SF $0 (Min)
2012 QTR3 2013 QTR3
40 # of 22 Transactions
$218,620 Average Sales $248,915 Price ($) $30,295 $1,086,800
28% %18% REO
10% % Short 14% Sales
$89 Sales $/SF $104 (Min)
40% 2% % Short Sales
$89,000 Sales Price $129,900 (Min) $40,900 $650,000
$278 Sales $/SF $343 (Max)
10% 0% % REO
$700,000 Sales Price $845,000 (Max) $145,000 $2,700,000 $4,500,000 Sales Price $1,800,000 (Max)
$600,000 Sales Price -$50,000 (Min)
0% % 0% REO
100% % Short 43% Sales
$119 Sales $/SF $119 (Min)
44%
$375,000 Sales Price $335,000 (Min) -$40,000 $110,000
$119 Sales $/SF $180 (Max)
23%
$375,000 Sales Price $525,000 (Max) $150,000 $700,000
2012 QTR3 2013 QTR3
2012 ΔQTR3 2013 QTR3 Δ
-18 10 54 # of 44 Transactions
2012 QTR3 2013 QTR3
1 # of 7 Transactions
$1,451,778 Average Sales $364,978 Price ($)
$65 $543 $958 Sales $/SF $415 (Max)
$15 $246 $264 Sales $/SF $18 (Min)
2012 ΔQTR3
6 39
$375,000 Average Sales $429,286 Price ($) $54,286 $268,030
2013 QTR3 Δ
47 # of 8 Transactions
$467,908 Average Sales $199,878 Price ($)
2% % REO
23% % Short Sales
$3,900,000 Sales Price $3,200,000 (Max)
$169,000 Sales Price $59,000 (Min)
$470 Sales $/SF $184 (Max)
$162 Sales $/SF $33 (Min)
2012 QTR3 2013 QTR3
10 # of 54 Transactions 44 61
$1,086,800 Average Sales $1,451,778 Price ($) $364,978 $350,616
10% % 0% REO
40% % Short 2% Sales
$2,700,000 Sales Price $4,500,000 (Max)
$246 Sales $/SF $264 (Min) $18 $193
$446,942 Average Sales $96,326 Price ($)
2% 0% % Short Sales
$543 Sales $/SF $958 (Max) $415 $383
85 # of 24 Transactions
0% 0% % REO
$650,000 Sales Price $600,000 (Min) -$50,000 $200,000
$1,307,500 $267,500 (Max)
$199,000 -$1,000 (Min)
$509 $126 (Max)
$179 -$14 (Min)
$268,030 Average Sales $467,908 Price ($) $199,878 $1,996,250
23% % 2% REO
44% % Short 23% Sales
$700,000
$110,000
$286
$129
2013 QTR3 2012 ΔQTR3
39 # of 47 Transactions 84
(Max)
(Min)
(Max)
(Min)
0%
0%
2013 QTR3 Δ
6 # of 2 Transactions
$2,618,333 Average Sales $622,083 Price ($)
0% % REO
17% % Short Sales
2012 QTR3 2013 QTR3
61 # of 85 Transactions
$350,616 Average Sales $446,942 Price ($) $96,326 $142,153
0% % 0% REO
2% % Short 0% Sales
26% 12% % REO
21% 0% % Short Sales
$267,500 $425,000 $885,000 Sales Price $460,000 (Max)
0% % 0% REO
0% % Short 17% Sales
0% 0% % REO
0% 0% % Short Sales
26% % REO
%21% Short
2012 ΔQTR3 2013 QTR3 Δ 2012 QTR3
2012 ΔQTR3 2013 QTR3 Δ
24 19 17 # of -2 Transactions
2012 QTR3
4 # of 6 Transactions 23
$1,996,250 Average Sales $2,618,333 Price ($) $622,083 $2,033,000
2013 QTR3 Δ
78 # of 75 Transactions
$2,143,612 Average Sales $110,612 Price ($)
2012 QTR3
#19 of
$142,153 Average Sales
2013 QTR3 2012 ΔQTR3
$254,735 Average Sales $112,582 Price ($)
$61 $286
$0 $129
R$1,800,000 EGENCY TOWERS $1,040,000 These long-standing Vegas Sales residential towers, Sales Price Sales Price $/SF Sales $/SFlocated within the Las Vegas Country Club, has remained steady Sales Price SalesSales Price prices Sales $/SF Sales $/SF in$3,900,000 sales volume. are up across the board. $169,000 $470 $162
Many are looking to these towers $3,200,000 $59,000 $184 as a great $33value and $2,750,000 $785,000 $561 $269
their location to$960,000 the Las Vegas$769 Strip makes$360 them a very $8,000,000 Sales Price
Sales Price
Sales $/SF $208 (Max)
Sales $/SF $91 (Min)
$1,040,000 Sales Price $1,307,500 (Max)
$200,000 Sales Price $199,000 (Min) -$1,000 $59,900
$383 Sales $/SF $509 (Max)
$100,000 Sales Price $40,100 (Min)
$126 $192 $283 Sales $/SF $91 (Max)
$193 Sales $/SF $179 (Min)
$2,750,000 Sales Price $8,000,000 (Max) $5,250,000 $2,874,000
$785,000 Sales Price $960,000 (Min) $175,000 $1,300,000
$561 Sales $/SF $769 (Max) $208 $959
$269 Sales $/SF $360 (Min) $91 $787
$3,100,000 Sales Price $226,000 (Max)
$325,000 Sales Price -$975,000 (Min)
$790 Sales $/SF -$169 (Max)
$265 Sales $/SF -$522 (Min)
$425,000 Sales Price
$59,900 Sales Price
$192 Sales $/SF
$38 Sales $/SF
$5,250,000 $175,000 attractive (Max) option. (Min)
-$14 $38 $65 Sales $/SF $27 (Min)
2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ
2012 QTR3 2012 QTR3 2013 2013 ΔQTR3 Δ
2012 QTR3 2012 QTR3 QTR3 2013 2013 ΔQTR3 Δ
61 #85 of Transactions 24
5 #85of Transactions 80 4 # 6of Transactions 2 28 #29of 1 Transactions
$350,616 Average Sales $446,942 Price ($) $96,326
$404,333 $494,309 Average Sales Price ($) $89,976 $1,996,250 Average Sales $2,618,333 Price ($) $622,083 $319,082 $304,760 Average Sales -$14,322 Price ($)
0% 0% % REO
0% % 0% Short Sales
14% 3% % REO 26% %12% REO
3 #78 of Transactions 75 40 #38of Transactions -2
$2,033,000 Average Sales $2,143,612 Price ($) $110,612 $480,789 $510,574 Average Sales Price ($) $29,785
-4 Transactions
5 85 80 # of Transactions # of Transactions 10 28 8 29 -2 1 # of # of Transactions Transactions 7 43 2 39 -5 -4
$44,717 Price ($)
$404,333 $494,309 $89,976 Average Sales Price ($) Average Sales Price ($) $182,630 $319,082 $296,625 $304,760 $113,995 -$14,322 Average Sales Average Sales Price ($) Price ($) $228,571 $218,340 $285,500 $263,057 $56,929 $44,717
40 38 -2
$480,789 $510,574 $29,785
# of Transactions
Average Sales Price ($)
10 8 -2
$182,630 $296,625 $113,995
# of Transactions 2012 QTR3 2013 QTR3 Δ
$1,040,000 Sales Price $1,307,500 (Max) $267,500
$200,000 Sales Price $199,000 (Min) -$1,000
$383 Sales $/SF $509 (Max) $126
$193 Sales $/SF $179 (Min) -$14
Downtown
0% % 0% REO
$142,153 Average Sales $254,735 Price ($) $112,582 $218,340 $263,057 Average Sales
Average Sales Price ($)
2012 QTR3 2013 QTR3 Δ
% 0% REO
2% % Short 0% Sales
19 # of 17 Transactions -2 43 #39of
# of Transactions 2012 QTR3 2013 QTR3 Δ
0%
35% 26% % REO
$419,900 $386,100 $488 $413 $1,630,000 $201,388 $665 $270 Sales Price Sales Price Sales $/SF Sales $/SF (Max) (Min) (Max) (Min) $1,210,100 -$184,712 $177 -$143 0% $2,750,000 $785,000 $561 $269 %17% Short Sales Price Sales Price Sales $/SF Sales $/SF $8,000,000 $960,000 $769 $360 Sales (Max) (Min) (Max) (Min) $5,250,000 $175,000 $208 $91 18% $700,000 $155,000 $422 $149 $655,000 $128,000 $452 $174 %28% Short Sales Price Sales Price Sales $/SF Sales $/SF -$45,000 -$27,000 $30 $25 Sales (Max) (Min) (Max) (Min) These contemporary lofts are the highlight of the downtown 21% $425,000 $59,900 $192 $38 residential scene. With the advent downtown redevelopment % Short Sales Price Sales Price of the Sales $/SF Sales $/SF 0% $885,000 $100,000 $283 $65 Sales (Max) (Min) (Max) (Min) efforts, sponsored by Tony$40,100 Hsieh of Zappos.com, these$27 units are in $460,000 $91 33% $485,000 $119,000 $256 $136 demand and pricing continues to go up. $435,000 $125,000 $297 $141 %21% Short Sales Price Sales Price Sales $/SF Sales $/SF
NEWPORT LOFTS
Sales
-$50,000 (Max)
$6,000 (Min)
$41 (Max)
$5 (Min)
0% % 0% REO
0% % Short 0% Sales
25% 3% % REO
25% %16% Short Sales
0% 0%
0% 0%
$2,874,000 Sales Price $3,100,000 (Max) $226,000 $1,526,067 $1,300,000 Sales Price (Max) -$226,067
$1,300,000 Sales Price $325,000 (Min) -$975,000 $175,000 $264,000 Sales Price (Min) $89,000
$959 Sales $/SF $790 (Max) -$169 $381 $357 Sales $/SF (Max) -$24
$787 Sales $/SF $265 (Min) -$522 $96 $152 Sales $/SF (Min) $56
% REO % REO 0% 14% 0% 3%
% Short %Sales Short Sales 10% 18% 13% 28%
% REO % REO 0% 35% 0%
% Short %Sales Short Sales 86% 33% 0%
$297 $51 $41
$141 $86 $5
% REO
% Short Sales Price Sales Price Sales $/SF Sales $/SF Sales (Min) (Max) There(Min) Art Deco flair(Max) and proximity to the arts district. has not been
26%
25% 3%
$419,900 $1,630,000 $1,210,100 Sales Price (Max) Sales Price (Max) $330,000 $700,000 $500,000 $655,000 $170,000 -$45,000 Sales Price Sales Price (Max) (Max) $625,000 $485,000 $295,000
$386,100 $201,388 -$184,712 Sales Price (Min) Sales Price (Min) $110,000 $155,000 $175,000 $128,000 $65,000 -$27,000 Sales Price Sales Price (Min) (Min) $130,000 $119,000 $276,000
$435,000 $125,000 S O H -$330,000 O L O$146,000 FTS -$50,000 $6,000
21%
$488 $665 $177 Sales $/SF (Max) Sales $/SF (Max) $200 $422 $248 $452 $48 $30 Sales $/SF Sales $/SF (Max) (Max) $135 $256 $186
$413 $270 -$143 Sales $/SF (Min) Sales $/SF (Min) $104 $149 $150 $174 $46 $25 Sales $/SF Sales $/SF (Min) (Min) $88 $136 $174
The first of our downtown residential lofts is still a favorite with its
25% $175,000 $381 much in the$1,526,067 way of inventory available as of late, but $96 there is still 16% $1,300,000 $264,000 $357 $152 demand as they become available at higher prices. -$226,067 $89,000 -$24 $56
% REO
% Short Sales
Sales Price (Max)
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
0% 0%
10% 13%
$330,000 $500,000 $170,000
$110,000 $175,000 $65,000
$200 $248 $48
$104 $150 $46
Average Sales Price ($)
% REO
% Short Sales
Sales Price (Max)
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
7 2
$228,571 $285,500
0% 0%
86% 0%
$625,000 $295,000
$130,000 $276,000
$135 $186
$88 $174
-5
$56,929
-$330,000
$146,000
$51
$86
2013 QTR3 2013 QTR3 Δ Δ
2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ 2012 QTR3
54 38 44 -7
$1,451,778 $345,225 $364,978 $98,468
0% 0%
2% 11%
$4,500,000 $1,605,000 $1,800,000 $1,125,000
$600,000 $186,900 -$50,000 $36,900
$958 $925 $415 $362
$264 $350 $18 $79
# of Transactions
Average Sales Price ($)
% REO
% Short Sales
Sales Price (Max)
Sales Price (Min)
Sales $/SF (Max)
Sales $/SF (Min)
39 #47 of Transactions 8 40 #22of Transactions -18
$268,030 Average Sales $467,908 Price ($) $199,878 $218,620 $248,915 Average Sales Price ($) $30,295
23% % 2% REO
44% %23% Short Sales
28% 18% % REO
10% %14% Short Sales
$700,000 Sales Price $3,900,000 (Max) $3,200,000 $700,000 $845,000 Sales Price (Max) $145,000
$110,000 Sales Price $169,000 (Min) $59,000 $89,000 $129,900 Sales Price (Min) $40,900
$286 Sales $/SF $470 (Max) $184 $278 $343 Sales $/SF (Max) $65
$129 Sales $/SF $162 (Min) $33 $89 $104 Sales $/SF (Min) $15
61 #85 of Transactions 24 1
$350,616 Average Sales $446,942 Price ($) $96,326 $375,000
0% % 0% REO
2% $1,040,000 $200,000 $383 $193 the mostSales prestigious residential address on the Las Vegas % As Short Price Sales Price Sales $/SF Sales $/SF Strip, 0% $1,307,500 $199,000 $509 $179 Sales (Max) (Min) (Max) (Min) living Mandarin Oriental standard for $267,500 sets the -$1,000 $126luxury highrise -$14 100% $375,000 $375,000 $119 $119
#7of Transactions 6 4 # 6of Transactions 2 10 #54of Transactions 44
$429,286 Average Sales Price ($) $54,286 $1,996,250 Average Sales $2,618,333 Price ($) $622,083 $1,086,800 $1,451,778 Average Sales Price ($) $364,978
0% % REO
19 #17 of Transactions -2 39
$142,153 Average Sales $254,735 Price ($) $112,582 $268,030
26% %12% REO
#47of Transactions 8 3 #78 of Transactions 75
$467,908 Average Sales Price ($) $199,878 $2,033,000 Average Sales $2,143,612 Price ($) $110,612
2% % REO
%23% Short Sales
0% % 0% REO
0% % Short 0% Sales
0% % 0% REO
2% % 0% Short Sales
0% 0% % REO
0% 0% % Short Sales
61 #85of Transactions 24 5 85 # of Transactions 80
$350,616 Average Sales $446,942 Price ($) $96,326 $404,333 $494,309 Average Sales Price ($) $89,976
2013 QTR3 Δ 2012 QTR3 2013 QTR3 Δ
4 #6of Transactions 2 28 #29 of 1 Transactions
$1,996,250 Average Sales $2,618,333 Price ($) $622,083 $319,082 $304,760 Average Sales -$14,322 Price ($)
2012 QTR3 2013 QTR3
19 # of 17 Transactions
$142,153 Average Sales $254,735 Price ($)
Δ 2012 QTR3
-2 43
0%
0% % 0% REO 10% 0% % REO
23%
0% % 0% REO 14% 3% % REO 26% %12% REO
$112,582 $218,340
35%
CityCenter MANDARIN ORIENTAL
with its unparalleled service. They have received an overwhelming
$525,000 $335,000 $180 $119 %43% Short Sales Price Sales Price Sales $/SF Sales $/SF response to $150,000 their pricing and (Max) some great opportunities Sales (Max)lowered-$40,000 (Min) (Min) $61 $0 0% exist. Now $2,750,000 $785,000 $561 of these$269 still is the time to take advantage remarkable %17% Short Sales Price Sales Price Sales $/SF Sales $/SF $8,000,000 $960,000 $769 $360 residences. (Max) Sales (Min) (Max) (Min) $5,250,000 $175,000 $208 $91 40% $2,700,000 $650,000 $543 $246 $4,500,000 $600,000 $958 $264 % 2% Short Sales Price Sales Price Sales $/SF Sales $/SF Sales (Max) (Min) (Max) (Min) $1,800,000 -$50,000 $415 $18 21% $425,000 $59,900 $192 $38 % Short Sales Price Sales Price Sales $/SF Sales $/SF 0% $885,000 $100,000 $283 $65 Sales (Max) (Min) (Max) (Min) $460,000 $40,100 $91 $27 44% $700,000 $110,000 $286 $129 $3,900,000 Sales Price (Max) $3,200,000 $2,874,000 Sales Price $3,100,000 (Max) $226,000 $1,040,000 Sales Price $1,307,500 (Max) $267,500 $419,900 $1,630,000 Sales Price (Max) $1,210,100
$169,000 Sales Price (Min) $59,000 $1,300,000 Sales Price $325,000 (Min) -$975,000 $200,000 Sales Price $199,000 (Min) -$1,000 $386,100 $201,388 Sales Price (Min) -$184,712
V E E R$2,750,000 T O W$785,000 ERS 0%
$470 Sales $/SF (Max) $184 $959 Sales $/SF $790 (Max) -$169 $383 Sales $/SF $509 (Max) $126 $488 $665 Sales $/SF (Max) $177
$162 Sales $/SF (Min) $33 $787 Sales $/SF $265 (Min) -$522 $193 Sales $/SF $179 (Min) -$14 $413 $270 Sales $/SF (Min) -$143
$561 $269 %17% Short Sales Price Sales Price Sales $/SF Sales $/SF $960,000 $769 $360 The iconic $8,000,000 architecture and contemporary of the Veer Sales (Max) (Min) (Max) design(Min) $5,250,000 $175,000 $208 $91 18% $700,000 $155,000 $422 $149 towers sets them apart from all other buildings on the Las Vegas 28% $655,000 $128,000 $452 $174 % Strip. Short As part Salesof Price Salesinvestment, Price Sales $/SF Sales $/SF a recent the remaining inventory -$45,000 -$27,000 $30 $25 Sales (Max) (Min) (Max) (Min)
was purchased from the developer and has continued to come to
21% $425,000 $59,900 $192 % market Short at new Sales Price Sales pricing. Price Sales $/SF and favorable 0% $885,000 $100,000 $283 Sales (Max) (Min) (Max) $460,000 $40,100 $91 33% $485,000 $119,000 $256
$38 Sales $/SF $65 (Min) $27 $136
2013 QTR3 Δ
#39 of -4 Transactions
$263,057 Average Sales $44,717 Price ($)
26% % REO
%21% Short Sales
$435,000 Sales Price -$50,000 (Max)
$125,000 Sales Price $6,000 (Min)
$297 Sales $/SF $41 (Max)
$141 Sales $/SF $5 (Min)
2012 QTR3 2013 QTR3 Δ 2012 QTR3 2013 QTR3
3 # of 78 Transactions 75 40 #38 of Transactions -2
$2,033,000 Average Sales $2,143,612 Price ($) $110,612 $480,789 $510,574 Average Sales Price ($) $29,785
0% % 0% REO
0% % Short 0% Sales
25% 3% % REO
25% %16% Short Sales
$2,874,000 Sales Price $3,100,000 (Max) $226,000 $1,526,067 $1,300,000 Sales Price (Max) -$226,067
$1,300,000 Sales Price $325,000 (Min) -$975,000 $175,000 $264,000 Sales Price (Min) $89,000
$959 Sales $/SF $790 (Max) -$169 $381 $357 Sales $/SF (Max) -$24
$787 Sales $/SF $265 (Min) -$522 $96 $152 Sales $/SF (Min) $56
5 85 80 # of Transactions # of
$404,333 $494,309 $89,976 Average Sales Price ($) Average Sales
0% 0%
0% 0%
% REO
% Short %Sales Short
$419,900 $1,630,000 $1,210,100 Sales Price (Max) Sales Price
$386,100 $201,388 -$184,712 Sales Price (Min) Sales Price
$488 $665 $177 Sales $/SF (Max) Sales $/SF
$413 $270 -$143 Sales $/SF (Min) Sales $/SF
Δ 2012 QTR3 2013 QTR3 Δ
% REO
Isaac Moore 702.306.5866 • VegasLuxurySkyRise.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 Isaac Moore or Synergy Sotheby’s International Realty®