2021 Q2 - Las Vegas Highrise Market Report

The Corcoran Report 2Q | 2021 | LAS VEGAS HIGH RISE

2 Q 2 02 1 | L A S V E G A S H I G H R I S E

2 Q 2 02 1 | L A S V E G A S H I G H R I S E

Overview Total Sold

Highest Sale

293

$16.3M

Total properties sold for Las Vegas High Rise rose 313% year-over-year to 293, up from 71 in 2Q2020.

The highest sale price in Las Vegas High Rise rose 306% year-over-year to $16.3M, up from $4M in 2Q2020.

Days on Market

Lowest Sale

86

$180K

Average days on market for Las Vegas High Rise rose 5% year-over-year to 86, up from 82 in 2Q2020.

The lowest sale price in Las Vegas High Rise declined 3% year-over-year to $180K, down from $185K in 2Q2020.

Median Price

Average Price

$420K

$652K

The median sale price in Las Vegas High Rise rose 14% year-over-year to $420K, up from $370K in 2Q2020.

The average sale price in Las Vegas High Rise rose 23% year-over-year to $652K, up from $445K in 2Q2020.

+3 13 % YE AR OVE R YE AR

+5% YE AR OVE R YE AR

+14% YE AR OVE R YE AR

+3 06% YE AR OVE R YE AR

-3 % YE AR OVE R YE AR

+46% YE AR OVE R YE AR

2 Q 2 02 1 | WA L D O R F - A S TO R I A | L A S V E G A S H I G H R I S E

Waldorf-Astoria • Waldorf-Astoria sales rose 1100% year-over-year.

Total Properties Sold

Average Price

Highest Sale

• The highest sale price rose 293% year-over-year, while the lowest sale price decreased by 17%.

12

$2M

$3.9M

• Average days on market for Waldorf-Astoria rose 100% to 73 days, compared to 0 days in 2Q2020.

• Waldorf-Astoria average prices rose 100% year-over-year, and the median price increased 81% year-over-year.

+1100% YE A R OVE R YE A R +100% YE A R OVE R YE A R +293 % YE A R OVE R YE A R

Days on Market

Median Price

Lowest Sale

73

$1.8M

$835K

+100% YE AR OVE R YE AR

+81% YE AR OVE R YE AR

-17% YE AR OVE R YE AR

2 Q 2 02 1 | PA R K TO W E R S | L A S V E G A S H I G H R I S E

Park Towers • There were no homes sold in Park Towers during 2Q2021, same as 2Q2020.

Total Properties Sold

Average Price

Highest Sale

0

$0

$0

+/ - 0% YE AR OVE R YE AR +/ - 0% YE AR OVE R YE AR +/ - 0% YE AR OVE R YE AR

Days on Market

Median Price

Lowest Sale

0

$0

$0

+/ - 0% YE AR OVE R YE AR +/ - 0% YE AR OVE R YE AR +/ - 0% YE AR OVE R YE AR

2 Q 2 02 1 | V E E R TO W E R S | L A S V E G A S H I G H R I S E

Veer Towers • Veer Towers sales rose 180% year-over-year.

Total Properties Sold

Average Price

Highest Sale

• The highest sale price rose 524% year-over-year, while the lowest sale price increased by 47%.

14

$891K

$2.9M

• Average days on market for Veer Towers declined 52% to 41 days, compared to 86 days in 2Q2020.

• Veer Towers average prices rose 148% year-over-year, and the median price increased 105% year-over-year.

+180% YE A R OVE R YE A R +148% YE A R OVE R YE A R +5 24% YE A R OVE R YE A R

Days on Market

Median Price

41

$808K $330K

- 5 2% YE A R OVE R YE A R

+105% YE AR OVE R YE AR +47% YE AR OVE R YE AR

Lowest Sale

2 Q 2 02 1 | O N E Q U E E N S R I D G E | L A S V E G A S H I G H R I S E

One Queensridge • One Queensridge sales rose 1200% year-over-year.

Total Properties Sold

Average Price

Highest Sale

• The highest sale price declined 3% year-over-year, while the lowest sale price decreased by 84%.

13

$1.6M

$3.9M

• Average days on market for One Queensridge rose 217% to 165 days, compared to 52 days in 2Q2020.

• One Queensridge average prices decreased 61% year-over-year, and the median price decreased 69% year-over-year.

+1200% YE A R OVE R YE A R - 61% YE A R OVE R YE A R

-3 % YE AR OVE R YE AR

Days on Market

Median Price

Lowest Sale

165

$1.3M

$625K

+217% YE A R OVE R YE A R

-69% YE AR OVE R YE AR

-84% YE AR OVE R YE AR

2 Q 2 02 1 | T R U M P TO W E R | L A S V E G A S H I G H R I S E

Trump Tower • Trump Tower sales rose 300% year-over-year.

Total Properties Sold

Average Price

• The highest sale price rose 28% year-over-year, while the lowest sale price decreased by 3%.

20

$258K $600K

• Average days on market for Trump Tower declined 41% to 163 days, compared to 277 days in 2Q2020.

• Trump Tower average prices decreased 6% year-over-year, and the median price decreased 11% year-over-year.

Highest Sale

+3 00% YE AR OVE R YE AR -6% YE AR OVE R YE AR

+28% YE A R OVE R YE A R

Days on Market

Median Price

Lowest Sale

163

$204K $185K

-41% YE AR OVE R YE AR

-11% YE AR OVE R YE AR

-3 % YE AR OVE R YE AR

2 Q 2 02 1 | V D A R A | L A S V E G A S H I G H R I S E

Vdara • There was 1 home sold in Vdara during 2Q2021 and no homes sold in 2Q2020.

Total Properties Sold

Average Price

Highest Sale

1

$580K $580K

+100% YE AR OVE R YE AR +100% YE AR OVE R YE AR +100% YE AR OVE R YE AR

Days on Market

Median Price

244

$580K $580K

Lowest Sale

+100% YE AR OVE R YE AR +100% YE AR OVE R YE AR +100% YE AR OVE R YE AR

2 Q 2 02 1 | S I G N AT U R E M G M | L A S V E G A S H I G H R I S E

Signature MGM • Signature MGM sales rose 975% year-over-year.

Total Properties Sold

Average Price

Highest Sale

• The highest sale price rose 72% year-over-year, while the lowest sale price decreased by 10%.

43

$281K

$550K

• Average days on market for Signature MGM declined 51% to 104 days, compared to 213 days in 2Q2020.

• Signature MGM average prices rose 4% year-over-year, and the median price decreased 6% year-over-year.

+975% YE AR OVE R YE AR +4% YE AR OVE R YE AR

+72% YE A R OVE R YE A R

Days on Market

Median Price

Lowest Sale

104

$255K $195K

-51% YE AR OVE R YE AR

-6% YE AR OVE R YE AR

-10% YE AR OVE R YE AR

2 Q 2 02 1 | PA L M S PL A C E | L A S V E G A S H I G H R I S E

Palms Place • Palms Place sales rose 64% year-over-year.

Total Properties Sold

Average Price

Highest Sale

• The highest sale price rose 1% year-over-year, while the lowest sale price decreased by 3%.

23

$257K

$465K

+64% YE AR OVE R YE AR

+10% YE AR OVE R YE AR

+1% YE AR OVE R YE AR

Days on Market

Median Price

Lowest Sale

60

$230K $180K

-3 0% YE AR OVE R YE AR

+18% YE AR OVE R YE AR

• Average days on market for Palms Place declined 30% to 60 days, compared to 86 days in 2Q2020.

• Palms Place average prices rose 10% year-over-year, and the median price increased 18% year-over-year.

-3 % YE AR OVE R YE AR

2 Q 2 02 1 | S K Y L A S V E G A S | L A S V E G A S H I G H R I S E

Sky Las Vegas • Sky Las Vegas sales rose 400% year-over-year.

Total Properties Sold

Average Price

• The highest sale price rose 1454% year-over-year, while the lowest sale price increased by 10%.

10

$796K $4.4M

• Average days on market for Sky Las Vegas rose 558% to 79 days, compared to 12 days in 2Q2020.

• Sky Las Vegas average prices rose 190% year-over-year, and the median price increased 51% year-over-year.

Highest Sale

+400% YE AR OVE R YE AR +190% YE AR OVE R YE AR +1454% YE AR OVE R YE AR

Days on Market

Median Price

Lowest Sale

79

$415K

$295K

+558% YE AR OVE R YE AR +51% YE AR OVE R YE AR

+10% YE AR OVE R YE AR

2 Q 2 02 1 | T U R N B E R R Y PL A C E | L A S V E G A S H I G H R I S E

Turnberry Place • Turnberry Place sales rose 1300% year-over-year.

Total Properties Sold

Average Price

• The highest sale price rose 199% year-over-year, while the lowest sale price decreased by 37%.

28

$699K $2.2M

• Average days on market for Turnberry Place rose 223% to 71 days, compared to 22 days in 2Q2020.

• Turnberry Place average prices rose 15% year-over-year, and the median price decreased 1% year-over-year.

Highest Sale

+13 00% YE AR OVE R YE AR +15% YE AR OVE R YE AR

+199% YE AR OVE R YE AR

Days on Market

Median Price

Lowest Sale

71

$607K $315K

+223 % YE A R OVE R YE A R

-1% YE AR OVE R YE AR

-3 7% YE AR OVE R YE AR

2 Q 2 02 1 | T U R N B E R R Y TO W E R S | L A S V E G A S H I G H R I S E

Turnberry Towers • Turnberry Towers sales rose 575% year-over-year.

Total Properties Sold

Average Price

• The highest sale price rose 40% year-over-year, while the lowest sale price increased by 5%.

27

$509K $843K

• Average days on market for Turnberry Towers rose 61% to 50 days, compared to 31 days in 2Q2020.

• Turnberry Towers average prices rose 11% year-over-year, and the median price increased 7% year-over-year.

Highest Sale

+575% YE AR OVE R YE AR +11% YE AR OVE R YE AR

+40% YE AR OVE R YE AR

Days on Market

Median Price

Lowest Sale

50

$510K

$290K

+61% YE AR OVE R YE AR

+7% YE AR OVE R YE AR

+5% YE AR OVE R YE AR

2 Q 2 02 1 | A L L U R E | L A S V E G A S H I G H R I S E

Allure • Allure sales rose 633% year-over-year.

Total Properties Sold

Average Price

• The highest sale price rose 247% year-over-year, while the lowest sale price decreased by 30%.

22

$338K $920K

• Average days on market for Allure rose 120% to 88 days, compared to 40 days in 2Q2020.

• Allure average prices rose 29% year-over-year, and the median price increased 17% year-over-year.

Highest Sale

+63 3 % YE A R OVE R YE A R +29% YE A R OVE R YE A R

+247% YE A R OVE R YE A R

Days on Market

Median Price

Lowest Sale

88

$311K

$182K

+120% YE A R OVE R YE A R

+17% YE AR OVE R YE AR

-3 0% YE AR OVE R YE AR

2 Q 2 02 1 | PA N O R A M A TO W E R S | L A S V E G A S H I G H R I S E

Panorama Towers • Panorama Towers sales rose 133% year-over-year.

Total Properties Sold

Average Price

• The highest sale price rose 23% year-over-year, while the lowest sale price increased by 8%.

14

$604K $1.3M

• Average days on market for Panorama Towers rose 83% to 84 days, compared to 46 days in 2Q2020.

• Panorama Towers average prices rose 6% year-over-year, and the median price increased 4% year-over-year.

Highest Sale

+13 3 % YE AR OVE R YE AR +6% YE AR OVE R YE AR

+23 % YE A R OVE R YE A R

Days on Market

Median Price

Lowest Sale

84

$505K $400K

+83 % YE AR OVE R YE AR

+4% YE AR OVE R YE AR

+8% YE AR OVE R YE AR

2 Q 2 02 1 | T H E M A R T I N | L A S V E G A S H I G H R I S E

The Martin • The Martin sales rose 100% year-over-year.

Total Properties Sold

Average Price

Highest Sale

• The highest sale price rose by 1377% year-over-year, while the lowest sale price rose by 1%.

16

$2M

$16.3M

• Average days on market for The Martin rose 55% to 90 days, compared to 58 days in 2Q2020.

• The Martin average prices increased 245% year-over-year, and the median price increased 64% year-over-year.

+100% YE A R OVE R YE A R +245 % YE A R OVE R YE A R +13 77% YE A R OVE R YE A R

Days on Market

Median Price

Lowest Sale

90

$763K

$340K

+55% YE AR OVE R YE AR

+64% YE AR OVE R YE AR

+1% YE AR OVE R YE AR

2 Q 2 02 1 | M E T R O PO L I S | L A S V E G A S H I G H R I S E

Metropolis • There were 2 homes sold in Metropolis during 2Q2021 and no homes sold in 2Q2020.

Total Properties Sold

Average Price

Highest Sale

2

$623K $650K

+100% YE AR OVE R YE AR +100% YE AR OVE R YE AR +100% YE AR OVE R YE AR

Days on Market

Median Price

36

$623K $595K

Lowest Sale

+100% YE AR OVE R YE AR +100% YE AR OVE R YE AR +100% YE AR OVE R YE AR

2 Q 2 02 1 | R E G E N C Y TO W E R S | L A S V E G A S H I G H R I S E

Regency Towers • Regency Towers sales rose 800% year-over-year.

Total Properties Sold

Average Price

• The highest sale price rose by 399% year-over-year, while the lowest sale price declined by 2%.

9

$454K $1.1M

• Average days on market for Regency Towers declined 54% to 42 days, compared to 92 days in 2Q2020.

• Regency Towers average prices increased 97% year-over-year, and the median price increased 65% year-over-year.

Highest Sale

+800% YE AR OVE R YE AR +97% YE AR OVE R YE AR

+3 99% YE AR OVE R YE AR

Days on Market

Median Price

Lowest Sale

42

$380K $225K

-54% YE AR OVE R YE AR

+65% YE AR OVE R YE AR

- 2% YE A R OVE R YE A R

2 Q 2 02 1 | O N E L A S V E G A S | L A S V E G A S H I G H R I S E

One Las Vegas • One Las Vegas sales rose 100% year-over-year.

Total Properties Sold

Average Price

• The highest sale price rose by 41% year-over-year, while the lowest sale price increased by 0%.

12

$435K $700K

+100% YE AR OVE R YE AR

+14% YE AR OVE R YE AR

+41% YE AR OVE R YE AR

Days on Market

Median Price

Lowest Sale

103

$397K

$290K

+506% YE AR OVE R YE AR

-1% YE AR OVE R YE AR

+/ -0% YE AR OVE R YE AR

• Average days on market for One Las Vegas rose 506% to 103 days, compared to 17 days in 2Q2020.

• One Las Vegas average prices increased 14% year-over-year, and the median price decreased 1% year-over-year.

Highest Sale

2 Q 2 02 1 | T H E O G D E N | L A S V E G A S H I G H R I S E

The Ogden • The Ogden sales rose 29% year-over-year.

Total Properties Sold

Average Price

• The highest sale price rose by 9% year-over-year, while the lowest sale price decreased by 5%.

9

$423K $640K

+29% YE A R OVE R YE A R

-14% YE AR OVE R YE AR

+9% YE AR OVE R YE AR

Days on Market

Median Price

Lowest Sale

88

$425K $265K

+17% YE AR OVE R YE AR

- 20% YE A R OVE R YE A R

• Average days on market for The Ogden rose 17% to 88 days, compared to 75 days in 2Q2020.

• The Ogden average prices decreased 14% year-over-year, and the median price decreased 20% year-over-year.

Highest Sale

-5% YE AR OVE R YE AR

2 Q 2 02 1 | N E W PO R T L O F T S | L A S V E G A S H I G H R I S E

Newport Lo s • Newport Lofts sales rose 400% year-over-year.

Total Properties Sold

Average Price

• The highest sale price rose by 94% year-over-year, while the lowest sale price decreased by 35%.

10

$399K $775K

• Average days on market for Newport Lofts declined 23% to 54 days, compared to 70 days in 2Q2020.

• Newport Lofts average prices increased 3% year-over-year, and the median price decreased 5% year-over-year.

Highest Sale

+400% YE AR OVE R YE AR +3 % YE AR OVE R YE AR

+94% YE AR OVE R YE AR

Days on Market

Median Price

Lowest Sale

54

$367K

$245K

- 23 % YE A R OVE R YE A R

-5% YE AR OVE R YE AR

-3 5% YE AR OVE R YE AR

2 Q 2 02 1 | S O H O L O F T S | L A S V E G A S H I G H R I S E

Soho Lo s • There were 8 homes sold in Soho Lofts during 2Q2021 and no homes sold in 2Q2020.

Total Properties Sold

Average Price

Highest Sale

8

$386K $457K

+100% YE AR OVE R YE AR +100% YE AR OVE R YE AR +100% YE AR OVE R YE AR

Days on Market

Median Price

68

$394K $330K

Lowest Sale

+100% YE AR OVE R YE AR +100% YE AR OVE R YE AR +100% YE AR OVE R YE AR

2 Q 2 02 1 | L A S V E G A S H I G H R I S E

2 Q 2 02 1 | L A S V E G A S H I G H R I S E

Methodology The Corcoran Report offers current and valuable information regarding the local market. Each region reported on is broken down by neighborhood and contains speci c details and insights related to that market.

M ETR I C S

TOTAL PROPERTIES SOLD is the total number of properties that closed within the quarter reported.

AVERAGE PRICE is the price calculated by dividing the combined prices of properties by the amount of sold properties in that same area.

HIGHEST SALE is the highest priced property that was sold in the area being reported on during the quarter reported.

MEDIAN PRICE is the middle or midpoint price where half of sales fall below and half fall above this number.

LOWEST SALE is the lowest priced property that was sold in the area being reported on during the quarter reported.

DAYS ON MARKET averages how long a unit takes to sell and is calculated from subtracting the list date from the date of close.

SO U R C E

Figures in this report are based on publicly reported closed sales information via the Multiple Listing Service.

D I SC LA I M ER

©2021 Corcoran Global Living. 1980 Festival Plaza Drive, Suite 460, Las Vegas, NV 89135. CA DRE# 02109201; NV B.1000747. All rights reserved.

Corcoran® and the Corcoran Logo are registered service marks owned by Corcoran Group LLC. Corcoran Global Living fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated. Real estate agents af liated with Corcoran Global Living are independent contractors and are not employees of Corcoran Global Living. Each of ce is independently owned and operated. All material presented herein is intended for information purposes only and has been compiled from sources deemed reliable. MLS April 1, 2020 - June 30, 2020 and April 1, 2021 - June 30, 2021. Based on information from Multiple Listing Service as of 7/6/2021 and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, veri ed by broker or MLS. All information should be independently reviewed and veri ed for accuracy. Properties may or may not be listed by the of ce/agent presenting the information. Though information is believed to be correct, it is presented subject to errors, omissions, changes or withdrawal notice.

T H E F O L L OW I N G M E M B E R S M A D E S I G N I F I C A N T C O N T R I B U T I O N S TO T H I S R E P O R T:

Tyle r O'Ne ill I Zu z an a Malo n e | Tylar C h e ste r | A n ge la We lch