overview

The Las Vegas real estate market is still moving forward at a strong and steady pace. The highest demand continues to be in the $249K-$500K segment comprising close to 60% of the total sales volume.

Sales volume for single family homes in the luxury segment ($750K+) has been very strong, up almost 30% YTD through the 3rd quarter as compared to the same time last year.

The influx of residents from California, along with those who share higher state tax rates, continues as they seek out our favorable tax climate, cost of living, and quality of life. We also are still seeing lots of interest in second homes and vacation property tied to our professional sports locations by the Las Vegas Strip.

With the three interest rate increases so far this year and another slated for the 4th quarter, we are seeing a slow-down in the velocity of sales in the market, especially in the under $500K segment. This, along with future increases will ultimately have an effect on the leverage Sellers have enjoyed over the past several years. As buyer’s purchasing power diminishes the increase in pricing will slow down and begin to flatten out over time.

The master planned community of Summerlin is having great success with their newest villages Stonebridge and Reverence. The new stadium complex for our semi-pro baseball team in the heart of Downtown Summerlin is now well underway. The quality of life in this community just keeps getting better.

On the east side of the Valley, MacDonald Highlands is having tremendous success in the luxury custom home market with an expansion providing additional custom lot opportunity with magnificent Strip Views. Lake Las Vegas is poised to make a big splash in the coming months with custom home lots and development in this world-class resort community.

As always, if you are looking to buy or sell, please let one of our experience agents assist yo in navigating our real estate market and help you make the best deal possible. We looking forward to being of service.

about us

At Synergy Sotheby’s International Realty we take great pride in presenting you with current trends and developments affecting luxury communities of Las Vegas and the surrounding areas. This report represents a consolidation of local real estate knowledge and an in-depth analysis of market data to bring you the most useful insights as they emerge in the region.

In addition to offering general statistics related to the overall market, the report contains valuable information concerning Las Vegas’ hottest developments and neighborhoods. Particularly noteworthy is the large-scale growth in the city with expansions and new developments, bringing with it many opportunities for clients to capitalize on future investments.

One of the many tools available to agents and brokers of Synergy Sotheby’s International Realty, we sincerely hope that this report will assist our clients in understanding Las Vegas’ expansive luxury real estate market. As an international luxury brand, represented in 70 countries, with over 21,000 associates across 930 offices, we have the capacity to offer our clients a level of talent and marketing expertise unlike any other.

Whether you are interested in learning more about current market conditions, or are considering representation in the sale of your home, please give us a call and we can discuss how Synergy Sotheby’s International Realty may be of service to you.

PUBLISHER Gene Northup

MANAGING BROKER Don Kuhl

BROKER MANAGER Brittany Olsson

MANAGER Kyle Northup

DESIGNER Lindsay Rohlfsen

PHOTOGRAPHY JPM Studios

COPYWRITER Melissa Whitaker

FEATURE YOUR HOME IN THE NEXT ISSUE

All listings and data are presented by Synergy Sotheby’s International Realty. To be featured by the only truly international real estate brand in Southern Nevada contact Kyle Northup | 702.360.1414 | kyle@synergysir.com.

ABOUT THE MAGAZINE

Synergy Sotheby’s International Realty publishes Insight, a market report magazine each quarter. All materials are copyrighted and can not be reprinted or duplicated without permission, including photographs, artwork, designs and text. The publication is distributed without charge to readership throughout Southern Nevada. Additional copies and advertising information can be requested by contacting Synergy Sotheby’s International Realty. Address: 10100 W Charleston Blvd., 160, Las Vegas, NV 89135.

702.360.1414 | insight@synergysir.com

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