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Sotheby’s international realty
Southern Nevada Market Update
Las Vegas 2015
Number of Single Family Homes Sold in 2014
Single Family Home Historical Data
Henderson
SEVEN HILLS • ROMA HILLS • MACDONALD HIGHLANDS FOUNTAINS • ANTHEM COUNTRY CLUB • LAKE LAS VEGAS
Seven Hills Seven Hills has seen its share of troubles these last 12 months. With a large drop in number of transactions the average sale price and median sale price both rose. It may be time to look at
Market Update
2013 2014 ďż˝
Seven Hills again.
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
38
$868,934
$675,000
$2,380,000
$379,000
$175.9
13
$971,681
$870,400
$900,000
$165,000
$140.8
(25)
$102,747
$195,400
($1,480,000)
($214,000)
(35.1)
Roma Hills This enclave of custom estates located in the foothills above Green Valley Ranch saw a sharp decrease in number of transactions, avergae & median sale price and average price per foot. If you are looking for a value Roma Hills may be the place to begin your search.
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
10
$1,020,162
$933,500
$1,600,000
$616,000
$208
5
$759,064
$995,000
$995,000
$490,320
$143
(5)
($261,098)
($61,500)
($605,000)
$125,680
($65)
MacDonald Highlands This distinctive custom home community nestled in the Black Mountains Las Vegas valley is home to some of the most notable custom homes bordering the Dragonridge golf course. While the number of transactions dropped the average sale price and price per foot both rose. overlooking the entire
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
47
$1,332,118
$1,089,000
$3,300,000
$500,000
$108
28
$1,379,689
$902,500
$4,339,570
$540,500
$244
(19)
$47,571
($186,500)
$1,039,570
$125,680
$136
Fountains With tree lined streets, this custom home development is unique with a feel much different from that of the traditional Las Vegas style homes. While there was slightly less activity in this development, pricing was affected.
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
17
$762,489
$750,000
$1,375,000
$464,000
$140
15
$862,053
$815,000
$1,400,000
$510,000
$165
(2)
($99,564)
($65,000)
($25,000)
($46,000)
($25)
Anthem Country Club This exclusive guard gated private golf neighborhood of upper end production homes, custom homes and custom home lots Anthem features a championship golf course, stadium quality tennis courts, clubhouse, lush resort style pools and state of the art fitness center, as well as gourmet dining.
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
120
$754,345
$627,500
$3,500,000
$220,000
$197
86
$783,586
$661,000
$3,910,000
$260,000
$218
(34)
$29,241
$33,500
$410,000
$40,000
$21
Lake Las Vegas Lake Las Vegas has experienced an impressive bounce back from its disasters in the last few years. While the number of transactions dropped in 2014 the average sales price rose and the highest sale nearly doubled.
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
136
$385,423
$270,000
$1,285,000
$60,800
$150
102
$500,916
$366,500
$2,500,000
$70,000
$174
(34)
$115,493
$96,500
$1,215,000
$9,200
$24
11% August had the highest number of sales in 2014 over $500,000. February has the least amount of sales with only 6%.
89135 was the zip code with the most activity. Over 12% of all sales over $500,000 were within 89135. 89031 had the least amount of sales with .08%
89135
SothebysRealty.com had over 6.8 million unique visitors in 2014 38% of which were from outside the United States.
A funny thing happens in real estate. When it comes back, it comes back up like gangbusters. - Barbara Corcoran 99 Hawk Ridge in the Ridges sold for $8,000,000 which was the highest sale in Southern Nevada in 2014.
57 There were 57 homes over $2,000,000 sold in Southen Nevada in 2014. 20 of which were over $3,000,000.
In addition to our market knowledge Synergy Sotheby’s International Realty has the worldwide reach of the brands network of over 720 offices across 52 countries and territories.
With nine out of ten buyers beginning their real estate search
Like No Other
online* the plan to sell your home must utilize proper Internet exposure. Our approach includes websites far beyond sothebysrealty.com in an effort to target buyers on the web. Specifically, we employ ListHub to power the distribution of listings our network represents to all of the leading websites where consumers search for real estate. ListHub also provides comprehensive marketing reports that detail the traffic generated for your home on each of these websites, including sothebysrealty.com.
Las Vegas
THE RIDGES • TOURNAMENT HILLS • MOUNTAIN TRAILS CANYON FAIRWAYS EAGLE HILLS • BELLACERE • WILLOW CREEK • THE PALISADES • THE VINEYARDS RED ROCK COUNTRY CLUB • COUNTRY CLUB HILLS • QUEENSRIDGE SOUTHERN HIGHLANDS
The Ridges Located at the foothills of the Spring Mountains this highly sought-after guard gated community had the highest sale in all of Southern Nevada. While the number of sales dropped slightly the average sale price rose.
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
40
$2,227,272
$2,065,000
$6,500,000
$292,000
$333
30
$2,352,358
$2,284,445
$8,000,000
$515,000
$372
(10)
$125,086
$ 219,445
$1,500,000
$223,000
$39
Tournament Hills This luxury custom home development borders the TPC Summerlin golf course home to the annual PGA Tour event and is one of the most prestigious neighborhoods in Las Vegas. While the number of transactions stayed consistent, the average sale price dropped.
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
7
$2,512,857
$1,900,000
$6,850,000
$875,000
$288
7
$1,975,714
$1,500,000
$3,800,000
$1,250,000
$306
0
($537,143)
($400,000)
($-3,050,000)
$375,000
$18
Mountain Trails
Nestled in the Summerlin master plan, Mountain Trails has seen more transactions this year even while the average sale price rose.
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
4
$1,298,750
$1,272,500
$1,550,000
$1,100,000
$202
6
$1,636,084
$1,507,500
$2,000,000
$1,340,000
$251
2
$337,334
($235,000)
$450,000
$240,000
$49
Canyon Fairways The custom homes of this community serve as a boundary for the TPC Las Vegas golf course and are known to have expansive views of the Las Vegas valley. While the number of transactions dropped, echoing what most of the Valley has seen, the average sale price rose.
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
24
$867,988
$672,500
$1,770,000
$445,000
$197
13
$1,074,538
$775,000
$2,700,000
$545,000
$233
(11)
$206,550
$102,500
$930,000
$100,000
$36
Eagle Hills
Filler Market Update
2013 2014 �
This guard gated community nestled in the heart of Summerlin showed a considerable drop in transactions, while the average sale price rose. Showing a reduction in the number of “distressed” sales and more full time residents.
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
20
$980,475
$957,250
$1,700,000
$600,000
$193
16
$1,084,931
$1,070,000
$1,695,000
$709,000
$224
(11)
$206,550
$102,500
$930,000
$100,000
$36
Bellacere In this guard-gated community of luxury homes, there are some extraordinary views of the Las Vegas Strip. This intimate community is nestled within the Summerlin master plan and is located just outside of the public PGA Tour course. The number of transactions stayed nearly consistent while the average price rose.
Market Update
2013 2014 �
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
5
$1,393,400
$1,480,000
$2,000,000
$787,000
$237
4
$1,629,250
$1,483,500
$2,400,000
$1,150,000
$248
(1)
$206,550
$102,500
$930,000
$100,000
$36
Willow Creek This enclave of luxury homes actually experienced a slight increase in average sales price resulting from two key sales earlier in the year and exceeded their year on year median sale price.
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
9
$1,120,000
$1,075,000
$1,600,000
$875,000
$228
5
$1,197,160
$1,200,000
$1,600,000
$875,000
$176
(4)
$77,160
$125,000
-
-
($52)
The Palisades
Filler
The guard gated development within the Summerlin Master Planned community saw a significant decrease in number of transactions while the average sales price rose.
While the highest sale in 2014 was slightly reduced from 2013 the minimum price rose.
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
17
$888,735
$790,000
$1,325,000
$502,500
$188
8
$948,813
$850,000
$1,285,000
$638,000
$207
(9)
$60,078
$60,000
(-$40,000)
$135,500
$19
The Vineyards
Filler
This private guard gated community within Summerlin remained relatively stable in terms of sales activity despite having an overall pricing increase.
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
9
$639,667
$653,000
$780,000
$475,000
$165
8
$845,375
$792,500
$1,100,000
$684,000
$216
(1)
$205,708
$139,500
$320,000
$209,000
$51
Red Rock Country Club Set against the beautiful backdrop of Red Rock Canyon, this premier Country Club residential development is home to two golf courses and continues to be in demand with luxury buyers. This year showed a significant decrease in number of transactions while the median and average sale price rose.
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
107
$924,018
$820,000
$3,150,000
$159,000
$223
59
$989,561
$900,000
$2,845,125
$148,000
$247
(48)
$65,543
$80,000
($304,875)
($11,000)
$24
Country Club Hills
Filler
Bordering the private Tournament Players Club (TPC) Summerlin golf course, this private community also showed a slight decrease in number of transactions while average and median price rose.
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
48
$828,356
$760,000
$1,700,000
$460,000
$181
44
$885,527
$802,500
$1,695,000
$395,000
$200
(4)
$57,171
$42,500
($5,000)
($65,000)
$19
Queensridge This master planned community is home to the challenging Badlands golf course and provides a variety of landscapes throughout. The luxury segment of this community saw a decrease in sales activity as well as the average and average home sales pricing.
Market Update
2013 2014 ďż˝
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
67
$776,834
$459,000
$6,400,000
$145,000
$177
63
$756,159
$541,000
$3,119,000
$205,000
$191
(4)
($20,675)
$82,000
($3,281,000)
$60,000
$14
Southern Highlands This master planned community anchoring the southern portion of the valley and its world-class golf course serve as one of the most distinctive developments in the Valley. The luxury segments within the community saw a decrease in activity over the year but actually saw an overall improvement in average and median sales pricing.
Market Update
2013 2014 �
# of Transactions
Average Sales Price
Median Sales Price
Max Price
Min Price
Avg $/SF
67
$776,834
$459,000
$6,400,000
$145,000
$177
63
$756,159
$541,000
$3,119,000
$205,000
$191
(4)
($20,675)
$82,000
($3,281,000)
$60,000
$14
“It took me seventeen years to get three thousand hits in baseball. I did it in one afternoon on the golf course.” - Hank Aaron
Gene Northup c 702.497.0300 Gene@CallGene.com www.CallGene.com Kristen Routh Silberman
Gene Northup
c 702.467.7100 kristen@synergysir.com www.VegasLuxuryRealEstate.com
c 702.497.0300 Gene@CallGene.com www.CallGene.com
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