insight SUMMERLIN
Q1 2022
about insight At Las Vegas 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
PRESIDENT & BROKER Randy Char
ART DIRECTION Renee Ladores
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 Las Vegas 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 79 countries, with over 25,000 associates across 1,000 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, visit lasvegassir.com for more.
table of contents 4
southern nevada overview
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globally connected
7
the difference is
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summerlin communities
Las Vegas 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 Las Vegas Sotheby’s International Realty. Address: 10100 W Charleston Blvd., 160, Las Vegas, NV 89135
702.360.1414
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insight@lasvegassir.com
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®,™ 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 or Sotheby’s International Realty® All information from MLS and Tax Records representing Single Family Homes only in MLS Areas 101-606
INSIGHT Q1 2022: SUMMERLIN
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2019
2020
2021
735
January
2,353
2,296
3,030
2,839
2,909
2,959
3,765
3,568
3,759
2021
March
December
3,040
3,543
3,683
3,759
2021
613
729
606
Novermber
2,850
4,132 3,910
846 900 1,058 1,132 1,128 1,105 955 748
May June July August September October Novermber December
3,224
2,872 2,484 March 577
2022
3,061
3,484
3,598
5,949 5,760
4,821 4,655
5,013
5,942
4,058
5,837
5,301
4,401
4,810
5,188
4,779
5,042 4,342
5,341 4,964
2,948
6,856 5,963
4,243
4,532
3,972
5,703 4,998
4,183
February 612
January 650
781 799
February
April
809
January
March
1,153 965
December
8,853 8,654
7,197 7,072
7,951
8,892
7,240
6,546
9,024 8,944
9,788
8,116
7,341
9,674
8,028
7,445
9,472
7,856
2021
February
719
October
2,952
731
693
September
3,003
756
August
3,286
3,119
846
3,760
2020
791
3,038
4,315 4,223
2020
July
722
May
3,440
3,438
3,674
1,405
1,652
August
Novermber
1,603
July
1,656
1,579
June
1,582
1,672
May
October
1,646
April
September
1,616
March
8,259
6,908
10,448
11,127
11,412
11,717
11,715
11,896
11,687
11,222
2020
June
875
785
3,181
2,901
# SOLD - HENDERSON
April
2,869
# SOLD - LAS VEGAS
March
2,565
2,267
3,376
JANUARY 2019 - MARCH 2022
616
805
December
2,663
3,557 3,535
properties sold
February
713
Novermber
3,136
3,524
1,351
February
9,019 8,474
7,103
7,552
8,747
9,290
9,525
9,829
9,597
9,279
JANUARY 2019 - MARCH 2022
634
736
October
2,578
1,467 1,371
January
1,701
Novermber December
1,887
August
1,837
1,961
July
October
9,756
2,067 2,043
June
September
2,090
May
all available inventory
January
2,829
2,799
728
September
2,498
638
2,800
3,100
2019
August
2,019
2,084
1,802
2,495
2,910
2,773
2,535
2,644
2019
724
559
June
1,402
1,686
2,216
2,051
2,333
2,109
3,206
3,073
3,471
9,672
1,943
April
2019
July
400
May
605
398
March
April
557
535
Novermber
February
609
October
577
2,597
602
September
484
2,471
629
August
3,432
4,500
3,188
5,000
2,549
SOUTHERN NEVADA |
January
2,842
646
July
4,000 3,603
SOUTHERN NEVADA |
December
2,786
639
June
3,500 3,256
10,948
13,000
2,932
2,936
3,000
9,114
1,834
-0 March
2,000
1,810
3,000
1,799
5,000
January
4,000
February 10,637
8,000 10,609
9,000
8,827
10,000
8,810
7,000
2,602
2,265
2,064
671
00
654
500
May
1,000
April
2,366
2,000
570
1,500
1,841
2,500
March
1,626
1,000
438
6,000
424
11,000
January
12,000
February
southern nevada by the numbers
At Las Vegas Sotheby’s International Realty, we take great pride in presenting you with up-to-date statistics concerning Las Vegas and the
surrounding areas. This in-depth analysis of past and current data trends helps our agents stay on top of what's going on in the Southern
Nevada housing market and pass these insights on to you.
This metric gives us a glance of the total amount of properties for sale in Southern Nevada by month, from 2019 to present.
DEFINING ALL AVAILABLE INVENTORY
2022
# FOR SALE - LAS VEGAS
# FOR SALE - HENDERSON
2022
DEFINING PROPERTIES SOLD
This metric calculates the number of properties sold, by month, broken down by Las Vegas and Henderson.
2022
$0 $0 240.0M 240.0M 232.1M 232.1M 242.2M 242.2M 207.9M 207.9M 224.1M 224.1M
August August
2019 2019 September September October October Novermber Novermber December December
241.0M 241.0M
March March
2020 2020 2021 2021
393.4M 393.4M 359.9M 359.9M
Novermber Novermber December December January January
March March
441.6M 441.6M
337.1M 337.1M
372.5M 372.5M
October October
1.1B 1.1B
1.1B 1.1B
1.3B 1.3B
1.4B 1.4B
1.2B 1.2B
1.3B 1.3B
1.3B 1.3B
1.4B 1.4B
1.5B 1.5B
1.4B 1.4B
1.4B 1.4B
1.4B 1.4B
2.0B 2.0B
1.9B 1.9B
1.8B 1.8B
1.8B 1.8B
1.7B 1.7B 1.7B 1.7B
1.6B 1.6B
1.7B 1.7B
1.7B 1.7B
1.7B 1.7B
1.8B 1.8B
2021
February February
379.8M 379.8M 364.3M 364.3M
September September
379.3M 379.3M
August August
438.7M 438.7M
1.3B 1.3B
1.5B 1.5B
TOTAL VOLUME - HENDERSON
JulJul yy
1.3B 1.3B
1.4B 1.4B
1.4B 1.4B
1.1B 1.1B
1.3B 1.3B
1.4B 1.4B
1.4B 1.4B
1.3B 1.3B
$2.0B $2.0B
487.9M 487.9M
383.8M 383.8M
May May
1.1B 1.1B
1.2B 1.2B
2020
June June
432.0M 432.0M 416.0M 416.0M
1.0B 1.0B
840.1M 840.1M
1.0B 1.0B
924.2M 924.2M
TOTAL VOLUME - LAS VEGAS
Apri Apri ll
299.5M 299.5M
February February
1.0B 1.0B 1.0B 1.0B
899.9M 899.9M
998.9M 998.9M
JANUARY 2019 - MARCH 2022
March March
303.5M 303.5M
January January
405.8M 405.8M
320.3M 320.3M
Novermber Novermber
696.5M 696.5M
1.1B 1.1B
$1.6B $1.6B
December December
339.3M 339.3M 331.4M 331.4M
October October
292.8M 292.8M
August August September September
292.5M 292.5M
227.7M 227.7M
635.4M 635.4M
706.1M 706.1M
834.4M 834.4M
959.8M 959.8M
1.0B 1.0B
1.1B 1.1B
1.2B 1.2B
1.2B 1.2B
$1.4B $1.4B
JulJul yy
476.1M 476.1M
554.6M 554.6M
730.4M 730.4M
841.3M 841.3M
919.0M 919.0M
1.0B 1.0B
1.1B 1.1B
1.2B 1.2B
2019
June June
May 159.3M May 159.3M
Apri Apri l l 151.5M 151.5M
229.4M 229.4M
February February
654.1M 654.1M
794.8M 794.8M
711.1M 711.1M
841.5M 841.5M
776.6M 776.6M
923.6M 923.6M
919.0M 919.0M
809.6M 809.6M
1.1B 1.1B
SOUTHERN NEVADA |
January 187.2M January 187.2M
240.5M 240.5M 235.0M 235.0M
931.4M 931.4M
961.4M 961.4M
$1.2B $1.2B
JulJul yy
277.3M 277.3M
May May
811.7M 811.7M
743.6M 743.6M
$1.8B $1.8B
June June
239.5M 239.5M
$200M $200M
217.8M 217.8M
$600M $600M
Apri Apri ll
732.9M 732.9M
675.0M 675.0M
$1.0B $1.0B
March March
573.4M 573.4M
509.3M 509.3M
$400M $400M
January January 165.7M 165.7M
$800M $800M
February 159.5M February 159.5M
total volume sold DEFINING TOTAL SOLD VOLUME
This metric defines the total dollar volume of real estate sales in Las Vegas and Henderson.
2022
2022 2022
At Las Vegas Sotheby’s International Realty, our responsibility
goes beyond assisting our clients in the purchasing and selling
of real estate. We’re ambassadors of our community. We look at
each moment as an opportunity to bring irreplaceable value to
our clients, and in the process, redefine the real estate industry.
Luxury isn’t tangible. It isn’t price tag. Luxury is an experience
and a commitment going beyond the status quo.
INSIGHT Q1 2022: SUMMERLIN
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LOCAL EXPERTS
globally connected
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 countries all across the world, making Sotheby’s International Realty a truly global real estate brand.
25,000 1,000 79 46M $204B
S A L E S A S S O C I AT E S
OFFICES WORLDWIDE
COUNTRIES & TERRITORIES
V I S I T S T O S O T H E B Y S R E A LT Y C O M
T O TA L W O R L D W I D E S A L E S V O L U M E
Y O U T U B E S I LV E R C R E AT O R A W A R D 350,000+ SUBSCRIBERS
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2021
–
2021
THE DIFFERENCE IS
sotheby's international realty
SothebysRealty.com Sotheby’s International Realty’s website, sothebysrealty.com, is the #1 most trafficked website in the world for luxury properties.
Property Syndication Sotheby’s International Realty’s proprietary listing distribution program ensures that properties in all areas are seen by more affluent buyers online than any other real estate brand. This program places properties up front and center on over 10,000+ websites, a feat that cannot be imitated or duplicated by other real estate brands.
The Network Sotheby’s International Realty’s network of top producing agents across 1,000 offices in 79 countries produced over 204 billion in total sales volume in 2021. This network of agents consistently work together to refer clients to one another, meaning that properties listed with Sotheby’s International Realty benefit from the entire network working together to drive awareness and buyers.
Marketing Sotheby’s International Realty’s hand-selected global marketing plan provides clients the most comprehensive, targeted marketing in real estate touching connected TV, earned press, print, digital, social and experiential marketing.
Innovation Sotheby’s International Realty’s digital innovations consistently attract buyer loyalty. Buyers interact with first-to-market innovations such as virtual reality property tours, embedded video showings and area lifestyle immersion. The result? Sotheby’s International Realty has more video and VR interaction than Zillow, Coldwell Banker, Compass, Berkshire Hathaway, Engel and Volkers and Realtor.com combined.
Noteworthy Clientele A clientele base including: 71 of Forbes 100 Wealthiest People, 253 of Forbes 400 Wealthiest Americans, 60 of Worth Magazine’s Benefactor 100 List, and 78 of Forbes 100 Wealthiest Americans.
Proven Track Record 278 Year Brand Heritage, 204 Billion Annual Sales Volume in 2021, 79% Increase in Annual Referrals, 46 Million Website Views Annually, 90M+ Property Video Views, 47,600 Press Placements
Media Domination Sotheby’s International Realty receives more press mentions and media collaborations than any other real estate brand. Due to the quality and consistency of Sotheby’s International Realty’s inspirational properties, brands such as Apple, Vogue, The New York Times, Wall Street Journal, Dwell, Financial Times, Dow Jones and beyond drive their viewers, readers and brand loyalists to Sotheby’s International Realty properties daily.
Brand Recognition The powerful Sotheby’s International Realty blue sign and classic branding immediately differentiate every Sotheby’s International Realty property. Sotheby’s International Realty’s brand is aspirational, placing it in a league with brands like Tiffany and Co., Porsche and Gucci. This brand power attracts the attention of qualified buyers worldwide.
INSIGHT Q1 2022: SUMMERLIN
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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, “one of the best.” Pass through the guard gated entrance and discover lavish homes set against amazing views of the Las Vegas Valley.
total properties sold
average sales price
80% YEAR OVER YEAR
17% YEAR OVER YEAR
2
average days on market
89
133% YEAR OVER YEAR
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$2,605,000 average price per square foot
$383
NO CHANGE YEAR OVER YEAR
country club hills Set along the Tournament Players Club Summerlin, Country Club Hills is a collection of 170 semi-custom homes by one of Las Vegas’ most sought after, high-end builders, Christopher Homes.
total properties sold
3
NO CHANGE YEAR OVER YEAR
average days on market
86
709% YEAR OVER YEAR
average sales price
$1,233,333 7% YEAR OVER YEAR
average price per square foot
$348 4% YEAR OVER YEAR
INSIGHT Q1 2022: SUMMERLIN
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mesa ridge Mesa Ridge is nestled against the Spring Mountain ridgeline, providing a pristine, unobstructed backdrop and radiant views. With 3 collections of uniquely modern one- and two-story homes, this sleek, exclusive community offers more than a luxurious sanctuary—it offers an authentically modern lifestyle.
total properties sold
1
NO CHANGE YEAR OVER YEAR
average days on market
73
9% YEAR OVER YEAR
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| LASVEGASSIR.COM
average sales price
$2,875,000 153% YEAR OVER YEAR
average price per square foot
$608 84% YEAR OVER YEAR
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 guardgated entrance and takes residence on a path of unmatched possibilities.
total properties sold
1
NO CHANGE YEAR OVER YEAR
average days on market
7
90% YEAR OVER YEAR
average sales price
$2,900,000 53% YEAR OVER YEAR
average price per square foot
$398 20% YEAR OVER YEAR
INSIGHT Q1 2022: SUMMERLIN
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palisades As its name implies, Palisades is a distinctive barrier to the common world. Drive through the guard-gated entrance and you’ll leave the world behind. Situated along the Tournament Players Club 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.
total properties sold
average sales price
50% YEAR OVER YEAR
22% YEAR OVER YEAR
1
average days on market
61
22% YEAR OVER YEAR
12
| LASVEGASSIR.COM
$1,375,000 average price per square foot
$280 15% YEAR OVER YEAR
red rock country club 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 guardgated entrance and takes residence on a path of unmatched possibilities.
3080 RED SPRINGS DRIVE — LISTED BY ELAINE CHERNINE | S.0015245
total properties sold
19
57% YEAR OVER YEAR
average days on market
26
58% YEAR OVER YEAR
average sales price
$2,031,210 58% YEAR OVER YEAR
average price per square foot
$509 51% YEAR OVER YEAR
INSIGHT Q1 2022: SUMMERLIN
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regency Experience life at its finest at Regency at Summerlin by Toll Brothers. This fun-filled, 55+ active adult, staffgated community offers the best of everything: from luxurious homes with majestic city views to spectacular amenities including an onsite lifestyle director. This fabulous master-planned community features exciting resortstyle amenities.
6843 MOJAVE SAGE COURT — LISTED BY SHERI HOLTHAUS | S.0168873.LLC
total properties sold
average sales price
25% YEAR OVER YEAR
81% YEAR OVER YEAR
6
average days on market
55
65% YEAR OVER YEAR
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$1,200,498 average price per square foot
$577 68% YEAR OVER YEAR
reverence Reverence is an esteemed multipleaward winning Summerlin community. Meticulously designed for the ultimate in contemporary living, Reverence offers a diverse collection of new homes and world-class Clubhouse behind the security of a 24-hour guarded gate, all in an unparalleled, elevated setting along the border of famed Red Rock Canyon.
total properties sold
average sales price
11% YEAR OVER YEAR
61% YEAR OVER YEAR
20
average days on market
15
47% YEAR OVER YEAR
$1,432,124 average price per square foot
$464 48% YEAR OVER YEAR
INSIGHT Q1 2022: SUMMERLIN
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siena A premier 55+ community where the Spring Mountain range provides the backdrop and stately palms line a pathway to our door. Surrounded by beautiful lakes, the Schmidt-Curley designed 18-hole championship Siena Golf Course features an ideal blend of doglegs and straightaway holes, a mix of slender and ample fairways, and a balance between benign and rugged green complexes.
total properties sold
24
33% YEAR OVER YEAR
average days on market
19
67% YEAR OVER YEAR
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| LASVEGASSIR.COM
average sales price
$965,746 20% YEAR OVER YEAR
average price per square foot
$340 20% YEAR OVER YEAR
sun city summerlin Sun City Summerlin is a 55+ community by Del Webb. It is one of the nation’s premiere adult communities with magnificent views of the surrounding mountains and the Las Vegas Strip. Sun City Summerlin features more amenities than any other active adult community in Las Vegas: extensive recreation facilities, 4 fitness centers, an Olympic-sized pool, three 18-hole golf courses, and green belt areas.
total properties sold
122
6% YEAR OVER YEAR
average days on market
32
8% YEAR OVER YEAR
average sales price
$561,863 32% YEAR OVER YEAR
average price per square foot
$314 24% YEAR OVER YEAR
INSIGHT Q1 2022: SUMMERLIN
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the ridges This private reserve of luxury homes, situated on 800 acres, 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 Desert’s Red Rock Conservation Area.
68 WILDWING COURT — LISTED BY RANDY CHAR | B.0143566.LLC
total properties sold
16
36% YEAR OVER YEAR
average days on market
71
51% YEAR OVER YEAR
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| LASVEGASSIR.COM
average sales price
$4,933,563 86% YEAR OVER YEAR
average price per square foot
$748 58% YEAR OVER YEAR
vineyards The residences at Vineyards are for those seeking to elevate their lifestyle. Set amongst gently rising hills, The Vineyards represents the best semicustom 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.
total properties sold
average sales price
50% YEAR OVER YEAR
14% YEAR OVER YEAR
3
average days on market
28
36% YEAR OVER YEAR
$1,330,000 average price per square foot
$354 14% YEAR OVER YEAR
INSIGHT Q1 2022: SUMMERLIN
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SUMMERLIN 10100 W Charleston Boulevard, 160 Las Vegas, NV 89135
TIVOLI VILLAGE 410 Rampart #170 Las Vegas, NV 89145
lasvegassir.com | 702.360.1414
LAKE LAS VEGAS 2030 Lake Las Vegas Pkwy Henderson, NV 89011