Insight Q1 2020 by LasVegasSIR

#VEGASSTRONGER

INSI GHT Las Vegas | Q1 2020

Green Valley Office

table of contents

globally connected

by the numbers

news + notes

16 communities

MacDonald Highlands Office

Summerlin Office

Lake Las Vegas Office

golf course living

verticals

listings of distinction

TOGETHER. We’re moving forward. Above all else, we hope you and your family are healthy and safe. These are unprecedented times. The guidelines of social distancing are requiring us to make big adjustments to the way we live and work, yet we can continue to stay connected. At Synergy Sotheby’s International Realty, we are meeting this challenge while keeping the health and safety of our friends, family, clients, and colleagues a top priority. With our dedicated and fully operational staff working from home, we are serving you with every means possible in order to navigate through these challenging times. As we move forward, we will continue to work on your behalf, in every way possible, including staying in constant communication with the brokerage community and keeping abreast of market changes that affect anyone purchasing or selling a home. For showing listings, we’ll be using convenient technologies that people are familiar with like FaceTime, Zoom, Skype, Curate, and 3D Virtual Tours in order to mitigate the spread of the virus. For one-on-one in-person property appointments, we are using all of the precautionary methods including shoe covers, hand sanitizers, and asking that everyone keep a healthy physical distance. Currently, we’ve suspended all open houses and broker events because of the potential number of people congregating in one place. We are, however, working with our clients who are in the process of closing on a real estate transaction since both the title companies and the Clark County Recorder’s office are still open for business. We are committed to staying connected on what matters to you and will be available for your preferred form of communication whatever form that may take; email, Facebook, Facetime, Skype, Zoom, Whatsapp or any other platform you might use. We're here for you and want to be of help in any way we can. By supporting one other and working together, we will overcome these difficult times. As we all move forward, we wish you and your loved ones strength and good health.

about us

At Synergy Sotheby’s International Realty we take great pride in presenting you with current trends

PUBLISHER

Gene Northup

and developments affecting luxury communities of Las Vegas and the surrounding areas. This report represents a consolidation of local real estate knowledge and an in-depth analysis of market data to bring you the most useful insights as they emerge

MANAGING BROKER

Thomas Marsaw BROKER MANAGER

Brittany Northup

in the region. MANAGER

In addition to offering general statistics related to the overall market, the report contains valuable information developments

concerning and

Las

Vegas’

neighborhoods.

hottest

Particularly

noteworthy is the large-scale growth in the city with

Kyle Northup DESIGNER

Lindsay Rohlfsen PHOTOGRAPHY

JPM Studios

expansions and new developments, bringing with it many opportunities for clients to capitalize on future investments.

COPYWRITER

Melissa Whitaker

One of the many tools available to agents and brokers of Synergy Sotheby’s International Realty, we sincerely hope that this report will assist our clients in understanding Las Vegas’ expansive luxury real estate market. As an international luxury

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

brand, represented in 72 countries, with over 22,500 associates across 990 offices, we have the capacity to offer our clients a level of talent and marketing

ABOUT THE MAGAZINE

expertise unlike any other. Synergy Sotheby’s International Realty publishes Insight, a market report

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.

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

VIEW MORE PROPERTIES:

www.synergysir.com

WE HAVE

1,000

O F F I C ES 1 OUT OF 3 OFFICES ARE

OUTSIDE OF THE UNITED STATES

AGENTS

WE NOW HAVE

23,000 $114B ANOTHER RECORD YEAR

IN ANNUAL GLOBAL SALES

34MTO

VISITS

SIR.COM 14PERCENT

INCREASEYoY

EXCEEDED

$2.25B IN ANNUAL VALUE FROM

2,115 C LOS E D R E F E R RA LS

OVER 180,000

YOUTUBE SUBSCRIBERS

SILVER CREATOR

AWARD WINNER WE 41 TOP 250 TOP AGENTS IN AMERICA OF THE

HAVE

vegas born | globally connected

1,000

23,000

1/3

34.5M

Offices Worldwide

Associates Worldwide

Offices outside the United States

Monthly Visits in 2019

114B

Total worldwide Sale 2019

63% International Visitors

A Global Connection When a home is represented by the Sotheby’s International Realty brand, it is presented to a highly–qualified global clientele through exclusive channels and relationships. Our proprietary network of residential brokerage companies is located in 72 countries worldwide, making Sotheby’s International Realty a truly global real estate brand.

insight | q1 2020

significant sales

top 10 sales in 2020 Q1 $5.6M

9021 GROVE CREST

$5.5M

9 SKY ARC

$5.5M

9 CLOUD CHASER

$6.3M

15 FLYING CLOUD

$4.4M

1530 VIEWPOINT RIDGE

$4.0M

2909 COAST LINE

$3.9M

64 PROMONTORY RIDGE

$3.7M

615 SCENIC RIM

1530 VIEWPOINT RIDGE | $4,376,850 | MACDONALD HIGHLANDS

615 SCENIC RIM | $3,750,000 | MACDONALD HIGHLANDS

$3.7M

35 MEADOWHAWK

$3.6M

1 MIDNIGHT RIDGE

1530 TERAMO | $2,300,000 | SEVEN HILLS

q1 2020 |

insight

by the numbers Single family homes

Luxury is $750,000 and up

LUXURY SINGLE FAMILY HOMES** Distribution of Sales by Location

Distribution of Sales by Price

East

$750K - $1M

Henderson

$1M - $1.5M

North

$1.5M - $2M

Northwest

$2M - $5M

South

>$5M

Southwest

ALL SINGLE FAMILY HOMES* Distribution of Sales by Location

Distribution of Sales by Sales Price <$100K $100K - $250K $250K - $500K $500K - $750K $750K - $1M $1M - $1.5M $1.5M - $2M $2M - $5M >$5M

East Henderson North Northwest South Southwest

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

DAYS ON MARKET BY PRICE RANGE*

<$100K

$100K - $250K

$250K - $500K

$500K - $750K

$750K - $1M

$1M - $1.5M

$1.5M - $2M

$2M - $5M

>$5M

>$5M 0%

10%

20%

30%

40%

Below

insight | q1 2020

Equal

50%

60%

Above

70%

80%

90%

100%

10%

20%

30%

<30

30 - 90

40% 90 - 120

50%

60%

120 - 180

70% 180+

80%

90%

100%

q1 2020 |

insight

by the numbers | days on market report

DAYS ON MARKET Single Family Homes

Month

<30

30-90

90-120

120-180

180+

Grand Total

<30 (%)

January

1,025

807

146

153

2,197

47%

February

1,211

717

206

163

2,386

51%

March Grand Total

Price Range

1,588

602

3,824

2,126

<30

30 - 90

<$250k

189

194

2,667

60%

541

510

249

7,250

53%

90 - 120

120 - 180

180+

Grand Total

<30%

44%

$250k - $500k

744

418

101

1,388

54%

$500k - $750k

2,734

1,433

342

322

145

4,976

55%

$750k - $1.5M

256

186

599

43%

$1.5M - $2M

149

34%

$2M - $5M

36%

10%

>$5M Grand Total

3,824

2,126

541

510

249

7,250

53%

$5.6M

89135

129

Highest sale in 2020 Q1

offices in southern Nevada

over $750,000

developments

homes over 1M

$5,600,000 was the highest priced home to sell in the first quarter of 2020.

With 4 offices in Southern Nevada, we are able to serve your needs no matter where youâ&#x20AC;&#x2122;re looking to buy or sell!

89135 was the zip code with the most luxury home activity. Over 17% of all sales over $750,000 were within 89135. The runner up was 89052 with 15%.

Synergy Sotheby's International Realty represents 4 developments.

There were 129 homes sold over $1,000,000 in Southern Nevada in 2020 Q1. 28 of which were over $2,000,000.

VINTNER GRILL Vintner Grill is a lively American bistro nestled in Summerlin, Las Vegas’ premier community. From working lunches to formal dinners, casual date night to family celebrations, Vintner Grill’s pleasant and inviting ambiance makes it perfect for a variety of occasions. The menu features American dishes infused with flavors from Spain, France and Italy. The bistro’s compelling architecture combined with the simplicity of its modern décor gives the dining experience a sense of casual elegance. Vintner Grill also offers a beautifully appointed patio featuring two, illuminated cabanas where guests can enjoy their meal in a unique outdoor setting. In short, Vintner Grill is worth taking a brief trip “off the Strip” if you are looking for a neighborhood gem where the locals go.

702.214.5590 • 10100 W CHARLESTON BLVD 150 • LAS VEGAS, NV 89135

LIVE 552 S Stephanie St | Inside DragonRidge Country Club | 702.614.9100 macdonaldhighlands.com | synergysir.com

AT A HIGHER LEVEL We are proud to be the exclusive listing brokerage for MacDonald Highlands. An extraordinary master plan community 2,700 feet above the valley floor. Spectacular strip views and modern architecture are brought together with a five star country club offering the golf, swim, tennis and dining lifestyle you deserve. Luxury Homes | New Modern Customs | Luxury Townhomes Strip View Lots | Design & Build Your Dream Home

news + notes

Suzanne Belperron and Aimée de Heeren: A Friendship, a Necklace, a Rediscovery BY SOTHEBY'S | APR 7, 2020

Never before seen on the international jewelry market, nor offered for sale at auction, a necklace by Suzanne Belperron (1900-1983) will be offered in Sotheby’s Joaillerie Paris sale on 10 June, as international dealers and collectors are all on high alert wondering who will win the bidding war for this piece, emblematic of Belperron's oevre. “It is an exceptional piece from a private European collection, which I had never seen other than in a photograph carefully kept in the personal archives by the designer herself”, explains Olivier Baroin, expert for Suzanne Belperron and keeper of the designer’s own archives. “This necklace is, without a doubt, not a unique piece; it is one of those that was created at the end of the 1930s and then reproduced by the designer over decades”. How many of these necklaces might exist? Difficult to be certain according to Baroin: ”Other pieces will probably resurface onto the market once this one has been revealed to both the press and the public. I cannot imagine that a piece of jewelry such as this would have been taken apart when handed down to any heirs: the aesthetic of this necklace, itself a true work of art, supersedes in this instance its intrinsic value.” Influenced by the growing interest in African art, which was enthusiastically collected by French artists at the start of the 20th century, Suzanne Belperron designed this signature necklace at the end of the 1930s. The below drawing depicts a more slender variation of the necklace to be sold this Spring... read entire story at sothebys.com

A Tale of Two Whiskeys: Charting the History of Bowmore and Buffalo Trace Distilleries Wine & Spirits Apr 7, 2020 In the late 18th century, two particular distilleries on opposing sides of the Atlantic were built. The first, established in 1779, is Bowmore, a coastal distillery from the Scottish Island of Islay, famous for its saline, smoky spirit, that looks across the choppy waters of the Sound to the Mull of Kintyre. The second, is Buffalo Trace, an American whiskey producer from the landlocked state of Kentucky, which has been renowned for its rich, sweet Bourbon since 1792. Sitting pride of place in the center of Islay's biggest town, Bowmore is the oldest distillery on the island. The town of Bowmore was founded by Daniel Campbell, also known as Great Daniel, in 1768. Great Daniel had been a politician in Glasgow in the years following the Act of Union in 1707, sitting for both the Scottish and British parliament. Daniel fell foul of his constituents when he voted in favor of the malt tax in 1713, an imposition which led to the Malt riots, otherwise known as the Shawfield riots, in 1725... read entire story at sothebys.com

insight | q1 2020

news + notes

Four Captivating Works from The Orientalist Sale Cultural Crossroads Apr 6, 2020

T his April, Sotheby’s is offering a series of exceptional works in its online Orientalist sale, four of which are particularly captivating both for their historical value and artistic merits. A long-forgotten Tehran, for example, is brought to life in two sketches by Jules Laurens, a 33-yearold aspiring artist who had trained in Paris under Paul Delaroche. In 1846 he was given the break of a lifetime by being offered the chance to join a geographical expedition to Persia. Led by the renowned geographer and engineer Xavier Hommaire de Hell, the journey was to turn the dream of an expedition to Tehran via Anatolia into a reality. The trip would last three years and involve severe hardships. The two travelled to Constantinople, before embarking by sea for Anatolia in June 1847. By August they reached Trebizond, the first stage on their long journey overland to Tehran by way of Erzeroum, Vann, and Tabriz. The trek was long and arduous: despite spending up to fourteen hours a day in the saddle, overnighting in uncomfortable carevanserais, and battling cholera, fever, and freezing temperatures, Laurens assiduously recorded his impressions in his sketchbook at every stop. His sketches were unidealized... read entire story at sothebys.com

Absence Makes the Heart Grow Fonder: A Double Portrait from the Gallery of Rafael Valls BY CECILIA TREVES | APR 3, 2020 his phrase seems more apt than ever at a time of separation from friends and loved ones. It expresses the feeling of affection between those who are apart. A line from the song The Isle of Beauty by the English poet and songwriter Thomas Haynes Bayly (1797–1839) evokes this idea: "What would not I give to wander Where my old companions dwell, Absence makes the heart grow fonder, Isle of Beauty, fare thee well!" THOMAS HAYNES BAYLY Although the expression is found much earlier in Francis Davison’s Poetical Rhapsody (1602) and in other seventeenth-century writings, its roots go back to the Roman poet Sextus’ Elegies: ‘Always toward absent lovers love's tide stronger flows’. This seventeenth-century double portrait, inventive and unusual in its design, evokes that very idea. An elegantly dressed gentleman stands beside a framed portrait of a lady. Posing confidently, with hand on hip to show off to maximum effect the sheen of his satin sleeve, he draws back a curtain to reveal a portrait of a fine lady in pearls, perhaps his wife... read entire story at sothebys.com q1 2020 |

insight

communities

Only

For Those With a Vision Your home is more than a building or an address. Itâ&#x20AC;&#x2122;s where you experience life, family, connection, growth. Your home should be as exceptional as you are, and as you are going to be. For a lifestyle inspired by your potential, there is only Sothebyâ&#x20AC;&#x2122;s International Realty.

las vegas, summerlin & henderson

702.360.1414

the ridges This private reserve of luxury homes, situated on 800 acres in the masterplanned community of Summerlin, is recognized as one of the most exclusive neighborhoods in the country. The Ridges presents stunning views of the Las Vegas Strip to the east, while on its western border lies the surreal beauty of the Mojave Desertâ&#x20AC;&#x2122;s Red Rock Conservation Area.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 11 $4,000,000 $2,228,318 $1,050,000 $455 96

2020 Q1 Change 10 -1 $3,992,336 $(7,664) $2,643,934 $415,615 $1,415,000 $365,000 $470 $15 95 (1)

red rock country club Set in the master-planned community of Summerlin on the very western edge of Las Vegas, Red Rock Country Club is one of the most exclusive addresses in the valley. Possessing not one but two signature Arnold Palmer golf courses, the private Mountain Course and the public Arroyo Course. The nearby Red Rock State Park provides inspiring natural beauty.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 19 $2,200,000 $1,011,553 $675,000 $286 109

2020 Q1 Change 20 1 $3,250,000 $1,050,000 $1,156,913 $145,360 $650,000 $(25,000) $275 $(11) 106 (2)

tournament hills Tournament Hills remains one of the most sought after addresses in the master-planned community of Summerlin on the western side of the Las Vegas valley. Tournament Hills is built on and around the Tournament Players Club Summerlin, the course famed as the site for Tiger Woods first professional victory. The residences of Tournament Hills are renowned for their luxury and opulence. Exclusively custom by design, Tournament Hills features homes ranging from the classic to the contemporary.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

insight | q1 2020

2019 Q1 2 $1,500,000 $1,350,000 $1,200,000 $220 85

2020 Q1 Change 1 -1 $5,600,000 $4,100,000 $5,600,000 $4,250,000 $5,600,000 $4,400,000 $362 $142 393 309

eagle hills Tree-lined sidewalks and manicured lawns are only some of the pleasant wonders of life inside the guard-gated community of Eagle Hills. Situated in The Trails within the master-planned community of Summerlin on the western edge of Las Vegas. Homes in Eagle Hills let you forget the surrounding desert landscape as few other communities can.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 3 $1,725,000 $1,241,667 $975,000 $257 67

2020 Q1 Change 5 2 $1,660,000 $(65,000) $1,412,000 $170,333 $1,175,000 $200,000 $280 $23 70 2

canyon fairways Appropriately situated for luxury and appropriately named for its convenience as it backs up to Tournament Players Club Las Vegas, a public course Golf Digest described as, â&#x20AC;&#x153;one of the best.â&#x20AC;? Pass through the 24hour guard gated entrance and discover lavish homes set against amazing views of the Las Vegas Valley.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 1 $1,250,000 $1,250,000 $1,250,000 $232 84

2020 Q1 Change 1 0 $1,250,000 $$1,250,000 $$1,250,000 $$318 $86 39 (45)

bellacere Set behind a guard-gated entrance, Bellacere is a truly intimate community filled with a wealth of green spaces, which only fifty-four families can enjoy. Designed in a way so that most of the residences of Bellacere are situated far from the exterior boundaries, gives Bellacere a quiet, small town feel while outside the walls, a host of amenities and conveniences await in the master-planned community of Summerlin.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 - - - - - -

2020 Q1 Change - - - - - - -

q1 2020 |

insight

las vegas, summerlin & henderson

702.360.1414

mountain trails A community within a community, Mountain Trails resides in The Trails section of the master-planned community of Summerlin, long recognized as the pinnacle of Las Vegas living. Life at Mountain Trails begins by passing through the guard-gated entrance and takes residence on a path of unmatched possibilities.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 2020 Q1 Change 3 1 -2 $3,490,000 $1,975,000 $(1,515,000) $2,595,000 $1,975,000 $(620,000) $1,295,000 $1,975,000 $680,000 $289 $(289) 50 446 396

palisades As its name implies, Palisades is a distinctive barrier to the common world. Drive through the guard-gated entrance and youâ&#x20AC;&#x2122;ll leave the world behind. Situated along the Tournament Players Club (TPC) Las Vegas Golf Course, Palisades provides an elevated sense of living and the views of the Las Vegas valley and the Canyon Fairways accentuate that feeling.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 7 $1,575,000 $1,276,429 $865,000 $285 102

2020 Q1 Change 5 -2 $1,700,000 $125,000 $1,335,978 $59,549 $871,000 $6,000 $234 $(51) 123 22

vineyards The residences at Vineyards are for those seeking to elevate their lifestyle. Set amongst gently rising hills in the master-planned community of Summerlin in Las Vegas, The Vineyards represents the best semi-custom living has to offer. The community is highlighted by terraced walkways winding through green spaces and leading to three separate private squares with relaxing water features.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

insight | q1 2020

2019 Q1 3 $1,082,000 $921,000 $806,000 $203 88

2020 Q1 Change 2 -1 $920,000 $(162,000) $897,500 $(23,500) $875,000 $69,000 $238 $35 16 (72)

willow creek When you enter the guard gated community of Willow Creek, there are 3 subdivisions within the gate. They are: Eden Ridge by Pulte homes which is a single story only neighborhood offering a semi custom product; Heritage Glen and Wood Glen both built by Toll Brothers offering larger tract homes; and finally a separate gated custom community within the Willow Creek guard gate known as Willow Falls. Willow Falls is completely custom and offers 80 home sites that are for the most part 1/3 acre. There is access to tennis courts, a basketball court, a play area, park, a beautiful paseo area and all Summerlin facilities.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 1 $725,550 $725,550 $725,550 $220 65

2020 Q1 Change 5 4 $1,615,000 $889,450 $1,277,000 $551,450 $1,050,000 $324,450 $274 $55 40 (25)

country club hills Set along the Tournament Players Club (TPC) Summerlin Golf Course in the master-planned community of Summerlin, Country Club Hills is a collection of 170 semi-custom homes by one of Las Vegasâ&#x20AC;&#x2122; most sought after, high-end builder, Christopher Homes.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 2 $965,000 $907,500 $850,000 $275 35

2020 Q1 Change 3 1 $1,090,000 $125,000 $922,667 $15,167 $653,000 $(197,000) $254 $(21) 55 21

queensridge Queensridge is an upscale development located on the west side of Las Vegas just east of Summerlin. It is comprised of about 800 acres of luxury living. As a part of the Peccole Ranch development it presents a European Countryside theme.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 11 $1,080,000 $631,864 $350,000 $181 91

2020 Q1 Change 9 -2 $1,400,000 $320,000 $721,111 $89,247 $385,000 $35,000 $191 $9 46 (46)

q1 2020 |

insight

las vegas, summerlin & henderson

702.360.1414

canyon gate country club Not far from Las Vegas, Canyon Gate Country Club offers terrific views and challenging play for golfers at every skill level. Well-groomed fairways and greens keep Canyon Gate Country Club difficult yet friendly, and the staff can offer tips and tricks for playing your best round. Canyon Gate Country Club is a terrific choice for your regular rounds of golf or a new destination for you and friends when visiting Las Vegas.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 3 $1,915,000 $1,246,667 $800,000 $222 92

2020 Q1 Change 4 1 $920,000 $(995,000) $793,700 $(452,967) $654,800 $(145,200) $211 $(11) 55 (37)

southern highlands* Living in Southern Highlands means one of the nationâ&#x20AC;&#x2122;s top private golf courses is just steps from your house. Co-designed by the late legendary golf architect Robert Trent Jones Sr. and his son Robert Trent Jones Jr., the Southern Highlands Golf Course takes advantage of the surrounding mountain terrain to set up exciting shots on finely manicured fairways with picturesque water features. The warm, dry climate also makes it possible and enjoyable to spend weekends on the green any time of the year.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 10 $3,200,000 $1,337,650 $485,000 $280 148

2020 Q1 Change 10 0 $3,100,000 $(100,000) $1,394,899 $57,249 $499,000 $14,000 $336 $56 55 (94)

*country club only

spanish trail Since opening in 1984 Spanish Trail offers one of the Southwest's finest Country Clubs and we have focused on what every golfer is striving for - balance, tempo, consistency and relaxation. Featuring a 27-hole championship course has been the home to 5 PGA Tour Las Vegas Invitationals and offers the perfect combination of Country Club tradition and Resort living.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

insight | q1 2020

2019 Q1 7 $1,000,000 $625,429 $390,000 $205 82

2020 Q1 Change 16 9 $1,330,000 $330,000 $698,894 $73,465 $395,000 $5,000 $199 $(5) 102 20

spanish hills The community of Spanish Hills in Las Vegas, is an affluent borough famous for being home to a number of celebrities, business owners, and pro-athletes. Spacious lots and multi-million dollar custom homes offer peace and quiet while providing breathtaking views of Red Rock Canyon National Park and The Strip.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 1 $975,000 $975,000 $975,000 $242 269

2020 Q1 Change 1 0 $3,141,875 $2,166,875 $3,141,875 $2,166,875 $3,141,875 $2,166,875 $329 $88 212 (57)

macdonald highlands As the master listing agents for MacDonald Highlands we are honored to have an office within DragonRidge Country Club giving us unique insight into the MacDonald Highlands market. Shaped from the foothills of the McCollough Mountains, McDonald Highlands blends the organic with the epic. Placed on the southern edge of the Las Vegas valley in a suburb of Henderson, MacDonald Highlands is uniquely luxurious and distinctly lavish and home to the Dragonridge Country Club.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 13 $5,450,000 $2,450,242 $784,900 $394 126

2020 Q1 Change 4 -9 $4,376,850 $(1,073,150) $2,569,213 $118,970 $975,000 $190,100 $555 $161 69 (57)

anthem country club Nestled in the foothills of Black Mountain, Anthem Country Club is the pinnacle of living in the master-planned community of Anthem. Meandering along the golf course, Anthem Country Club is a collection of upscale tract and custom homes amongst almost 5,000 acres of beautifully landscaped homes with a three-mile walking loop. # of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 19 $2,000,000 $773,979 $345,000 $260 63

2020 Q1 Change 32 13 $2,800,000 $800,000 $1,053,966 $279,987 $512,500 $167,500 $272 $12 69 6

q1 2020 |

insight

las vegas, summerlin & henderson

702.360.1414

seven hills As the Roman Empire was built upon its famed rolling hills, so too is the master-planned community Seven Hills, just south of Las Vegas and gloriously nestled against the magnificent McCollough mountain range. Travel along the rolling hills and one discovers a range of architecture from classic Tuscan to the ultimate in modern design. Elevated to afford wonderous views of the entire Las Vegas valley Seven Hills is home to the Rio Secco golf course designed by Rees Jones, as well as, an abundance of outdoor activities and amenities. # of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 34 $5,600,000 $804,600 $286,500 $207 76

2020 Q1 Change 42 8 $2,790,000 $(2,810,000) $670,080 $(134,520) $286,000 $(500) $208 $1 73 (3)

the fountains Known as one of the most prestigious addresses in the master-planned community of Green Valley in the Las Vegas suburb of Henderson, The Fountains community is an unexpected gem in the desert. Enjoying large, open lawns and tree-canopied streets, The Fountains is reminiscent of an east coast neighborhood.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 4 $1,300,000 $954,750 $675,000 $182 49

2020 Q1 Change 5 1 $1,025,000 $(275,000) $829,000 $(125,750) $595,000 $(80,000) $168 $(14) 76 27

lake las vegas If there is one place to be a world away in the desert, that place could only be Lake Las Vegas. Surrounding a 320-acre shimmering lake, the resort community of Lake Las Vegas flawlessly blends luxury residential living with the finer aspects of commercial enticements and golf only minutes from Las Vegas.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

insight | q1 2020

2019 Q1 21 $2,600,000 $650,795 $320,000 $224 87

2020 Q1 Change 34 13 $1,550,000 $(1,050,000) $695,795 $45,000 $385,000 $65,000 $225 $1 66 (22)

The leader in premium real estate, we deploy intuitive technology to deliver a truly personalized, clientdriven experience. With professionals in more than 70 countries and territories worldwide, weâ&#x20AC;&#x2122;re local everywhere, allowing us to walk alongside our clients at every stage of their journey. We know they expect us to be the first and the best in exclusive property. We deliver.

LIVE 2030 Lake Las Vegas Pkwy Henderson, NV 89011 synergysir.com | 702.360.1414

WATERFRONT We all have dreams and they are as vast and varied as the world is wide. But they all start with inspiration, and inspiration starts with your surroundings. That’s what home is. A sense of place. An amazing view. It’s all part of what makes a space a home, because your home is where you truly LIVE. Synergy Sotheby’s International Realty is proud to be the master listing agent for Lake Las Vegas. From waterfront lots to custom homes, our team of experts are here to help you find your dream lifestyle.

Fashion Show Mall

Gold Coast Caesars Palace

Rio

Palms

Monte Carlo NewYork NewYork

Venetian

Bellagio Cosmopolitan

Ballyâ&#x20AC;&#x2122;s Paris

City Center T-Mobile Arena

Planet Hollywood

Mirage / TI

MGM Grand

Excalibur Tropicana Luxor as

eg sV

VD BL

Mandalay Bay

McCarran International Airport

LIVE HIGHRISE

17 18 13 10

Circus Circus Wynn / Encore

14 Stratosphere

Downtown

Sahara

Hilton

Riviera

12 Las Vegas Country Club

Las Vegas Convention Center Wynn Golf Course

Palazzo Sands Convention Center

Harrahs Imperial Palace Flamingo Billâ&#x20AC;&#x2122;s

UNLV

Thomas & Mack Center

LEGEND 1.

ONE Las Vegas

Panorama Towers

11. Metropolis

16.

Turnberry Towers

MGM Signature

The Martin

12.

Newport Lofts

Mandarin Oriental

Palms Place

13. Sky

18. Soho Lofts

Veer Towers

Park Towers

14. Allure

19. The Ogden

15.

20. One Queensridge

5. Vdara

10. Trump

Regency Towers

Turnberry Place

q1 2020 |

insight

verticals

702.360.1414

waldorf-astoria As the most prestigious residential address on the Las Vegas Strip, The Residences at the Waldorf Astoria sets the standard for luxury highrise living. It is the residential jewel of City Center. We continue to see a tremendous amount of activity for this premier luxury tower with pricing more than $1,000/sf for the larger units. There are no signs of it slowing down with all the development in the area.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 3 $3,990,000 $2,680,000 $1,650,000 $1,420 72

2020 Q1 Change 3 0 $2,650,000 $(1,340,000) $1,838,333 $(841,667) $1,015,000 $(635,000) $1,024 $(396) 50 -22

park towers These two towers continue to serve as one of the most distinctive and exclusive highrise addresses, home to many of the most influential Las Vegas residents. This property doesnâ&#x20AC;&#x2122;t traditionally have much in the way of turnover.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 2 $2,800,000 $2,225,000 $1,650,000 $633

2020 Q1 Change 2 0 $2,225,000 $(575,000) $1,925,000 $(300,000) $1,625,000 $(25,000) $506 $(127)

veer towers The iconic architecture and contemporary design of the Veer towers set these towers apart on the Las Vegas Strip. As a part of CityCenter, they enjoy all the benefits of their location and MGMâ&#x20AC;&#x2122;s new development, The Park, along with the T-Mobile Arena.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

insight | q1 2020

2019 Q1 3 $1,835,000 $1,112,500 $415,000 $649 128

2020 Q1 Change 7 4 $1,525,000 $(310,000) $616,270 $(496,230) $298,000 $(117,000) $587 $(62) 145 17

one queensridge place Dedicated to the most discriminating owners, One Queensridge Place serves as one of the very finest luxury residences in Las Vegas.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 3 $2,000,000 $1,358,333 $875,000 $466 97

2020 Q1 Change 4 1 $2,400,000 $400,000 $1,244,250 $(114,083) $615,000 $(260,000) $408 $(58) 287 190

trump tower This classic and luxuriously appointed condotel is now coming into its own and reached stronger sales than in years prior. International buyers continue to show active interest in this property.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 11 $420,000 $291,909 $220,000 $488 72

2020 Q1 Change 6 -5 $1,680,000 $1,260,000 $488,250 $196,341 $200,000 $(20,000) $506 $19 82 11

vdara With direct access to Aria and the Bellagio resorts, Vdara at CityCenter is poised to be one of the most desired condotels in the Las Vegas Strip corridor. Branded as a non-gaming, non-smoking luxury hotel, it is the first choice for visitors seeking a quiet retreat with direct access to some of the finest restaurants, entertainment, and shopping in all of Las Vegas.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 6 $600,000 $480,500 $375,000 $672 118

2020 Q1 Change 3 -3 $900,000 $300,000 $641,667 $161,167 $360,000 $(15,000) $791 $119 48 -70

q1 2020 |

insight

verticals

702.360.1414

mgm signature MGM Signature continues to be a dominant property of interest in the condo hotel market. It is likely we will continue to see more interest with the new developments surrounding T-Mobile Arena and the arrival of the Raiders.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 18 $725,000 $352,694 $237,000 $458 67

2020 Q1 Change 17 -1 $657,500 $(67,500) $300,465 $(52,230) $225,000 $(12,000) $447 $(10) 128 61

palms place Hip and modern is the theme of Palms Place and it continues to garner attention. It is a hot spot for those who want to own a bit of Las Vegas.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 9 $390,000 $264,500 $227,500 $392 67

2020 Q1 Change 12 3 $500,000 $110,000 $323,458 $58,958 $214,000 $(13,500) $403 $11 44 -24

sky las vegas Sky Las Vegas is a 45-story luxury high-rise condominium tower with 409 units. The north end of the Strip received a bit of good news recently with the Fontainebleauâ&#x20AC;&#x2122;s sale announcement, helping Sky, Allure and Turnberry Place.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

insight | q1 2020

2019 Q1 4 $441,500 $358,125 $245,000 $320 28

2020 Q1 Change 6 2 $800,000 $358,500 $561,550 $203,425 $349,900 $104,900 $362 $42 115 87

turnberry place The four towers of this prestigious enclave continue to be one of the premier residences of the Las Vegas Strip.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 14 $1,830,000 $651,883 $328,000 $284 99

2020 Q1 Change 15 1 $3,750,000 $1,920,000 $898,967 $247,084 $340,000 $12,000 $312 $28 174 75

turnberry towers The sister project to Turnberry Place overlooks the Las Vegas Country Club golf course as well as offering some amazing Strip views.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 11 $670,000 $435,091 $265,000 $358 48

2020 Q1 Change 16 5 $675,000 $5,000 $461,188 $26,097 $260,000 $(5,000) $374 $16 101 53

allure This highrise tower benefits from being adjacent to the Sahara on the Las Vegas Strip and MGM Resortsâ&#x20AC;&#x2122; outdoor festival space. One of the most affordable highrise opportunities on the Strip.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 12 $345,000 $229,000 $187,500 $236 51

2020 Q1 Change 6 -6 $360,000 $15,000 $278,417 $49,417 $220,000 $32,500 $223 $(13) 94 43

q1 2020 |

insight

verticals

702.360.1414

panorama towers The twin towers overlooking the world-class architecture of CityCenter is seeing more attention with the advent of the professional hockey team expansion in the T-Mobile arena and its surrounding restaurant/retail complex, The Park. All these new venues are within walking distance.

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

2019 Q1 6 $600,000 $444,583 $269,000 $326 65

2020 Q1 Change 13 7 $1,650,000 $1,050,000 $557,885 $113,301 $280,000 $11,000 $331 $6 93 29

the martin The sister project of Panorama Towers has stayed steady in its sales relative to last year while bolstering its average sales price.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 7 $705,000 $475,000 $365,000 $371 60

2020 Q1 Change 8 1 $1,075,000 $370,000 $610,625 $135,625 $387,500 $22,500 $423 $52 184 124

metropolis Overlooking the prestigious Wynn golf course, these Art Deco inspired lofts have not had much activity as most owners have been holding on to them. These lofts have amazing views of the Las Vegas Strip and the Wynn golf course.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

insight | q1 2020

2019 Q1 2020 Q1 Change 1 -1 $336,000 $(336,000) $336,000 $(336,000) $336,000 $(336,000) $226 $(226) 13 -13

regency

towers

These long-standing Vegas residential towers, located within the Las Vegas Country Club.This high rise tower offers breath taking strip, golf course and mountain views.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 6 $355,000 $261,083 $133,000 $170 52

2020 Q1 Change 7 1 $435,000 $80,000 $308,879 $47,795 $139,000 $6,000 $192 $21 45 -6

one las vegas One Las Vegas is located on the world-famous Las Vegas Boulevard just south of McCarran International Airport. This condo community offers a multi-floor fitness center, ownerâ&#x20AC;&#x2122;s lounge and social area, and an elegant pool and spa complex.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 8 $444,900 $396,788 $314,900 $291 36

2020 Q1 Change 14 6 $574,900 $130,000 $392,779 $(4,009) $299,900 $(15,000) $271 $(19) 29 -7

the ogden Bordering the newly redeveloped Fremont East Entertainment District, this development has been home to many of the people shaping the renaissance of the Las Vegas downtown. As downtown Las Vegas continues to evolve as the new epicenter for high tech businesses, special events and cultural activities.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 4 $744,900 $546,675 $275,000 $348 13

2020 Q1 Change 6 2 $540,000 $(204,900) $436,667 $(110,008) $275,000 $$294 $(54) 74 61

q1 2020 |

insight

verticals

702.360.1414

newport lofts These contemporary lofts are the highlight of the downtown residential scene. Located in the renaissance of the downtown area.Featuring open floor plans owners have a view of the Las Vegas Strip and surrounding city.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

2019 Q1 6 $429,000 $371,500 $330,000 $244 27

2020 Q1 Change 2 -4 $550,000 $121,000 $400,000 $28,500 $250,000 $(80,000) $261 $16 37 10

soho lofts Leading the way in the downtown redevelopment, this loft development continues to play an iconic role in the next phase of the downtown renaissance.

# of Transactions Sales Price (Max) Average Sales Price Sales Price (Min) AVG $/SF AVG Days on Mkt

insight | q1 2020

2019 Q1w 2 $435,000 $387,000 $339,000 $230 65

2020 Q1 Change 3 1 $327,000 $(108,000) $309,667 $(77,333) $295,000 $(44,000) $235 $6 82 18

listings of distinction

702.360.1414

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

2312 pearl crest

$1,695,000 | 5,331 sq ft | 5 beds | 5 baths

q1 2020 |

insight

listings of distinction

702.360.1414

11226 VILLA BELLAGIO

$2,650,000 | 7,422 sq ft | 4 beds | 6 baths

insight | q1 2020

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

LIVEGLOBAL With more than 23,000 associates in 1,000 offices in 72 countries around the world, Sothebyâ&#x20AC;&#x2122;s International Realty offers true international reach and the ability to expose the properties we represent to the most qualified people in the most influential luxury markets around the globe.

PALOS VERDES ESTATES, CA

LLOYD NECK, NY

LONDON, ENGLAND

5 Beds | 4 Baths $6,000,000 | ID: 8H5B3Z

6 Beds | 8 Baths $5,999,000 | ID:VZVG5B

3 Beds | 3 Baths $3,562,577 | ID: SZ8L6W

NEW YORK, NY

ENCINITAS, CA

MOUNT CRESTED BUTTE, CO

8 Beds | 7 Baths $5,950,000 | ID: MKHZBH

4 Beds | 3 Baths $6,000,000 | ID: M447RP

10 Beds | 13 Baths $3,499,999 | ID: 7DNXFV

KIRKLAND, WA

SEATTLE, WA

ALAMO, CA

2 Beds | 3 Baths $3,698,800 | ID: 5R7Z8E

3 Beds | 3 Baths $3,524,950 | ID: RYHRBW

5 Beds | 6 Baths $5,000,000 | ID: H38L76

LEARN MORE AT SYNERGYSIR.COM

q1 2020 |

insight

702.360.1414

SYNERGYSIR.COM

synergysir.com Summerlin • 10100 W Charleston Blvd., Suite 160, Las Vegas, NV 89135 • Next to Vintner Grill MacDonald Highlands • 552 S Stephanie St, Henderson, NV 89012 • Inside DragonRidge Country Club Green Valley • 120 S Green Valley Pkwy., Suite 154, Henderson, NV 89012 • Next to Whole Foods Lake Las Vegas •2030 Lake Las Vegas Pkwy, Henderson, NV 89011 • Next to The Westin

6 CONTINENTS • 72 COUNTRIES • 1,000 OFFICES • LOCAL EXPERTS WORLDWIDE ®,™ and SM are licensed trademarks to Sotheby’s International Realty Affiliates, Inc. An Equal Opportunity Company. Equal Housing Opportunity. Each Office Is Independently Owned And Operated, Except Offices Owned And Operated By NRT Incorporated. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. * All information from sources deemed to be reliable although not warranted or guaranteed by Gene Northup or Sotheby’s International Realty® All information from MLS and Tax Records representing Single Family Homes only in MLS Areas 101-606