2022Q1 Las Vegas High Rise Report - Corcoran Global Living

Page 1

The Corcoran Report 1Q | 2 0 2 2 | L A S V EG A S H I G H R I S E


L A S V EG A S HI GH R I SE


1Q 2 02 2 | L A S V EG A S HI GH R I SE

Overview Total Sold

Highest Sale

4 .9 % Y E A R OV E R Y E A R

1. 0 % Y E A R OV E R Y E A R

322

$4.4M

Total properties sold for Las Vegas High Rise changed 4.9% year-over-year to 322.

The highest sale price in Las Vegas High Rise changed 1.0% year-over-year to $4.4M.

Days on Market

Lowest Sale

50

$140K

- 4 3 . 8 % Y E A R OV E R Y E A R

2 2 . 8 % Y E A R OV E R Y E A R

Average days on market for Las Vegas High Rise changed -43.8% to 50 days.

The lowest sale price in Las Vegas High Rise changed 22.8% year-over-year to $140K.

Median Price

Average Price

$391K

$564K

Median price in Las Vegas High Rise changed 13.4% year-over-year to $391K.

Average price in Las Vegas High Rise changed 5.7% year-over-year to $564K.

13 . 4% Y E A R OV E R Y E A R

5 .7 % Y E A R OV E R Y E A R


1Q 2 02 2 | WA L D O R F - A S TO R I A | L A S V EG A S HI GH R I SE

Waldorf-Astoria • Waldorf-Astoria sales changed by -16.7% year-over-year. • The highest sale price changed by -2.4% year-over-year, while the lowest sale price changed 22.2% year-over-year. • Average days on market for Waldorf-Astoria changed -55.3% to 34 days. • Waldorf-Astoria average price changed -2.2% year-over-year, and the median price changed 7.2% year-over-year.

Total Properties Sold

Average Price

Highest Sale

10

$2.2M

$4.1M

-16.7% Y E AR OV ER Y E AR

-2 . 2 % Y E AR OV ER Y E AR

-2 .4% Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

34

$2.1M

$1.1M

- 55. 3% Y E AR OV ER Y E AR

7. 2 % Y E AR OV ER Y E AR

22 . 2 % Y E AR OV ER Y E AR


1Q 2 02 2 | PA R K TOW ER S | L A S V EG A S HI GH R I SE

Park Towers • Park Towers sales changed by -66.7% year-over-year. • The highest sale price changed by -24.0% year-over-year, while the lowest sale price changed 5.6% year-over-year. • Average days on market for Park Towers changed -45.6% to 104 days. • Park Towers average price changed -10.5% year-over-year, and the median price changed -10.5% year-over-year.

Total Properties Sold

Average Price

1

$950K $950K

- 6 6.7% Y E AR OV ER Y E AR

-10. 5% Y E AR OV ER Y E AR

-24.0 % Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

104

$950K $950K

- 4 5.6% Y E AR OV ER Y E AR

-10. 5% Y E AR OV ER Y E AR

Highest Sale

5.6% Y E AR OV ER Y E AR


1Q 2 02 2 | V EER TOW ER S | L A S V EG A S HI GH R I SE

Veer Towers • Veer Towers sales changed by 53.9% year-over-year. • The highest sale price changed by 110.2% year-over-year, while the lowest sale price changed 3.4% year-over-year. • Average days on market for Veer Towers changed -36.7% to 76 days. • Veer Towers average price changed 22.0% year-over-year, and the median price changed 8.6% year-over-year.

Total Properties Sold

Average Price

Highest Sale

20

$815K

$3.0M

53.9 % Y E AR OV ER Y E AR

22 .0 % Y E AR OV ER Y E AR

110. 2 % Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

76

$586K $290K

- 3 6.7% Y E AR OV ER Y E AR

8.6% Y E AR OV ER Y E AR

3.4% Y E AR OV ER Y E AR


1Q 2 02 2 | O NE Q U EENSR I D GE | L A S V EG A S HI GH R I SE

One Queensridge • One Queensridge sales changed by -22.2% year-over-year. • The highest sale price changed by -14.5% year-over-year, while the lowest sale price changed 25.6% year-over-year. • Average days on market for One Queensridge changed -7.9% to 70 days. • One Queensridge average price changed 18.7% year-over-year, and the median price changed -5.1% year-over-year.

Total Properties Sold

Average Price

Highest Sale

7

$1.7M

$3.3M

-22 . 2 % Y E AR OV ER Y E AR

18.7% Y E AR OV ER Y E AR

-14. 5% Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

70

$1.1M

$785K

-7.9 % Y E AR OV ER Y E AR

- 5.1% Y E AR OV ER Y E AR

25.6% Y E AR OV ER Y E AR


1Q 2 02 2 | TR U M P TOW ER | L A S V EG A S HI GH R I SE

Trump Tower • Trump Tower sales changed by 0.0% year-over-year. • The highest sale price changed by 45.8% year-over-year, while the lowest sale price changed 46.3% year-over-year. • Average days on market for Trump Tower changed -38.4% to 69 days. • Trump Tower average price changed 52.5% year-over-year, and the median price changed 43.0% year-over-year.

Total Properties Sold

Average Price

24

$360K $875K

0.0 % Y E AR OV ER Y E AR

52 . 5% Y E AR OV ER Y E AR

4 5.8% Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

69

$283K $234K

- 3 8.4% Y E AR OV ER Y E AR

4 3.0 % Y E AR OV ER Y E AR

Highest Sale

4 6. 3% Y E AR OV ER Y E AR


1Q 2 02 2 | V DA R A | L A S V EG A S HI GH R I SE

Vdara • Vdara sales changed by 100.0% year-over-year. • The highest sale price changed by 119.3% year-over-year, while the lowest sale price changed 13.8% year-over-year. • Average days on market for Vdara changed -80.7% to 36 days. • Vdara average price changed 57.2% year-over-year, and the median price changed 39.9% year-over-year.

Total Properties Sold

Average Price

Highest Sale

4

$778K

$1.3M

10 0.0 % Y E AR OV ER Y E AR

57. 2 % Y E AR OV ER Y E AR

119. 3% Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

36

$693K $478K

- 8 0.7% Y E AR OV ER Y E AR

39.9 % Y E AR OV ER Y E AR

13.8% Y E AR OV ER Y E AR


1Q 2 02 2 | SI GN AT U R E M G M | L A S V EG A S HI GH R I SE

Signature MGM • Signature MGM sales changed by 25.8% year-over-year. • The highest sale price changed by 147.8% year-over-year, while the lowest sale price changed 42.0% year-over-year. • Average days on market for Signature MGM changed -73.1% to 36 days. • Signature MGM average price changed 56.2% year-over-year, and the median price changed 31.4% year-over-year.

Total Properties Sold

Average Price

Highest Sale

39

$387K

$800K

25.8% Y E AR OV ER Y E AR

56. 2 % Y E AR OV ER Y E AR

147.8% Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

36

$335K $261K

-73.1% Y E AR OV ER Y E AR

31.4% Y E AR OV ER Y E AR

42 .0 % Y E AR OV ER Y E AR


1Q 2 02 2 | PA L M S PL ACE | L A S V EG A S HI GH R I SE

Palms Place • Palms Place sales changed by 66.7% year-over-year. • The highest sale price changed by 13.1% year-over-year, while the lowest sale price changed 4.9% year-over-year. • Average days on market for Palms Place changed 49.2% to 91 days. • Palms Place average price changed 27.2% year-over-year, and the median price changed 26.1% year-over-year.

Total Properties Sold

Average Price

25

$333K $526K

6 6.7% Y E AR OV ER Y E AR

27. 2 % Y E AR OV ER Y E AR

13.1% Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

91

$285K $215K

49. 2 % Y E AR OV ER Y E AR

26.1% Y E AR OV ER Y E AR

Highest Sale

4.9 % Y E AR OV ER Y E AR


1Q 2 02 2 | SK Y L A S V EG A S | L A S V EG A S HI GH R I SE

Sky Las Vegas • Sky Las Vegas sales changed by -50.0% year-over-year. • The highest sale price changed by -78.2% year-over-year, while the lowest sale price changed 63.4% year-over-year. • Average days on market for Sky Las Vegas changed -38.2% to 42 days. • Sky Las Vegas average price changed -26.7% year-over-year, and the median price changed 28.9% year-over-year.

Total Properties Sold

Average Price

6

$596K $950K

- 50.0 % Y E AR OV ER Y E AR

-26.7% Y E AR OV ER Y E AR

-78. 2 % Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

42

$503K $415K

- 3 8. 2 % Y E AR OV ER Y E AR

28.9 % Y E AR OV ER Y E AR

Highest Sale

6 3.4% Y E AR OV ER Y E AR


1Q 2 02 2 | T U R NB ER RY PL ACE | L A S V EG A S HI GH R I SE

Turnberry Place • Turnberry Place sales changed by -33.3% year-over-year. • The highest sale price changed by 102.1% year-over-year, while the lowest sale price changed -1.8% year-over-year. • Average days on market for Turnberry Place changed -65.8% to 39 days. • Turnberry Place average price changed 26.8% year-over-year, and the median price changed 16.0% year-over-year.

Total Properties Sold

Average Price

Highest Sale

18

$1.0M

$4.4M

- 33. 3% Y E AR OV ER Y E AR

26.8% Y E AR OV ER Y E AR

102 .1% Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

39

$663K $390K

- 6 5.8% Y E AR OV ER Y E AR

16.0 % Y E AR OV ER Y E AR

-1.8% Y E AR OV ER Y E AR


1Q 2 02 2 | T U R NB ER RY TOW ER S | L A S V EG A S HI GH R I SE

Turnberry Towers • Turnberry Towers sales changed by -29.2% year-over-year. • The highest sale price changed by 52.2% year-over-year, while the lowest sale price changed 24.6% year-over-year. • Average days on market for Turnberry Towers changed -55.2% to 30 days. • Turnberry Towers average price changed 23.2% year-over-year, and the median price changed 27.4% year-over-year.

Total Properties Sold

Average Price

17

$556K $1.1M

-2 9. 2 % Y E AR OV ER Y E AR

23. 2 % Y E AR OV ER Y E AR

52 . 2 % Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

30

$570K $319K

- 55. 2 % Y E AR OV ER Y E AR

27.4% Y E AR OV ER Y E AR

Highest Sale

24.6% Y E AR OV ER Y E AR


1Q 2 02 2 | A L LU R E | L A S V EG A S HI GH R I SE

Allure • Allure sales changed by -88.9% year-over-year. • The highest sale price changed by -51.3% year-over-year, while the lowest sale price changed 66.7% year-over-year. • Average days on market for Allure changed -48.6% to 36 days. • Allure average price changed 11.4% year-over-year, and the median price changed 26.6% year-over-year.

Total Properties Sold

Average Price

Highest Sale

2

$358K

$365K

- 8 8.9 % Y E AR OV ER Y E AR

11.4% Y E AR OV ER Y E AR

- 51. 3% Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

36

$358K $350K

- 4 8.6% Y E AR OV ER Y E AR

26.6% Y E AR OV ER Y E AR

6 6.7% Y E AR OV ER Y E AR


1Q 2 02 2 | PA N O R A M A TOW ER S | L A S V EG A S HI GH R I SE

Panorama Towers • Panorama Towers sales changed by -5.6% year-over-year. • The highest sale price changed by -56.3% year-over-year, while the lowest sale price changed 10.6% year-over-year. • Average days on market for Panorama Towers changed -55.8% to 34 days. • Panorama Towers average price changed -10.4% year-over-year, and the median price changed 14.9% year-over-year.

Total Properties Sold

Average Price

17

$635K $1.3M

- 5.6% Y E AR OV ER Y E AR

-10.4% Y E AR OV ER Y E AR

- 56. 3% Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

34

$515K

$365K

- 55.8% Y E AR OV ER Y E AR

14.9 % Y E AR OV ER Y E AR

Highest Sale

10.6% Y E AR OV ER Y E AR


1Q 2 02 2 | THE M A R TIN | L A S V EG A S HI GH R I SE

The Martin • The Martin sales changed by -52.9% year-over-year. • The highest sale price changed by -36.9% year-over-year, while the lowest sale price changed 57.4% year-over-year. • Average days on market for The Martin changed -87.9% to 8 days. • The Martin average price changed 18.8% year-over-year, and the median price changed 23.7% year-over-year.

Total Properties Sold

Average Price

8

$660K $1.2M

- 52 .9 % Y E AR OV ER Y E AR

18.8% Y E AR OV ER Y E AR

- 3 6.9 % Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

8

$551K

$465K

- 87.9 % Y E AR OV ER Y E AR

23.7% Y E AR OV ER Y E AR

Highest Sale

57.4% Y E AR OV ER Y E AR


1Q 2 02 2 | M E TRO P O L I S | L A S V EG A S HI GH R I SE

Metropolis • Metropolis sales changed by 0.0% year-over-year. • The highest sale price changed by 52.9% year-over-year, while the lowest sale price changed 191.8% year-over-year. • Average days on market for Metropolis changed 230.0% to 264 days. • Metropolis average price changed 93.5% year-over-year, and the median price changed 93.5% year-over-year.

Total Properties Sold

Average Price

Highest Sale

2

$813K

$910K

0.0 % Y E AR OV ER Y E AR

93. 5% Y E AR OV ER Y E AR

52 .9 % Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

264

$813K

$715K

23 0.0 % Y E AR OV ER Y E AR

93. 5% Y E AR OV ER Y E AR

191.8% Y E AR OV ER Y E AR


1Q 2 02 2 | R EGEN C Y TOW ER S | L A S V EG A S HI GH R I SE

Regency Towers • Regency Towers sales changed by -41.7% year-over-year. • The highest sale price changed by 438.9% year-over-year, while the lowest sale price changed 206.4% year-over-year. • Average days on market for Regency Towers changed 34.0% to 130 days. • Regency Towers average price changed 202.7% year-over-year, and the median price changed 101.3% year-over-year.

Total Properties Sold

Average Price

7

$780K $1.9M

- 41.7% Y E AR OV ER Y E AR

202 .7% Y E AR OV ER Y E AR

4 3 8.9 % Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

130

$550K $360K

3 4.0 % Y E AR OV ER Y E AR

101. 3% Y E AR OV ER Y E AR

Highest Sale

20 6.4% Y E AR OV ER Y E AR


1Q 2 02 2 | O NE L A S V EG A S | L A S V EG A S HI GH R I SE

One Las Vegas • One Las Vegas sales changed by -18.2% year-over-year. • The highest sale price changed by -14.3% year-over-year, while the lowest sale price changed 3.3% year-over-year. • Average days on market for One Las Vegas changed -50.9% to 52 days. • One Las Vegas average price changed -12.6% year-over-year, and the median price changed -9.1% year-over-year.

Total Properties Sold

Average Price

9

$422K $600K

-18. 2 % Y E AR OV ER Y E AR

-12 .6% Y E AR OV ER Y E AR

-14. 3% Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

52

$400K $342K

- 50.9 % Y E AR OV ER Y E AR

-9.1% Y E AR OV ER Y E AR

Highest Sale

3. 3% Y E AR OV ER Y E AR


1Q 2 02 2 | THE O G DEN | L A S V EG A S HI GH R I SE

The Ogden • The Ogden sales changed by 71.4% year-over-year. • The highest sale price changed by 75.0% year-over-year, while the lowest sale price changed 16.9% year-over-year. • Average days on market for The Ogden changed -21.6% to 98 days. • The Ogden average price changed 58.0% year-over-year, and the median price changed 74.5% year-over-year.

Total Properties Sold

Average Price

Highest Sale

12

$515K

$770K

71.4% Y E AR OV ER Y E AR

58.0 % Y E AR OV ER Y E AR

75.0 % Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

98

$510K

$290K

-21.6% Y E AR OV ER Y E AR

74. 5% Y E AR OV ER Y E AR

16.9 % Y E AR OV ER Y E AR


1Q 2 02 2 | NE W P O R T LO F T S | L A S V EG A S HI GH R I SE

Newport Lofts • Newport Lofts sales changed by 66.7% year-over-year. • The highest sale price changed by -14.3% year-over-year, while the lowest sale price changed 7.1% year-over-year. • Average days on market for Newport Lofts changed -70.6% to 10 days. • Newport Lofts average price changed -8.4% year-over-year, and the median price changed -18.4% year-over-year.

Total Properties Sold

Average Price

5

$402K $525K

6 6.7% Y E AR OV ER Y E AR

- 8.4% Y E AR OV ER Y E AR

-14. 3% Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

10

$347K $300K

-70.6% Y E AR OV ER Y E AR

-18.4% Y E AR OV ER Y E AR

Highest Sale

7.1% Y E AR OV ER Y E AR


1Q 2 02 2 | SO H O LO F T S | L A S V EG A S HI GH R I SE

Soho Lofts • Soho Lofts sales changed by -16.7% year-over-year. • The highest sale price changed by 16.1% year-over-year, while the lowest sale price changed 16.8% year-over-year. • Average days on market for Soho Lofts changed -54.7% to 29 days. • Soho Lofts average price changed 18.5% year-over-year, and the median price changed 17.7% year-over-year.

Total Properties Sold

Average Price

5

$442K $540K

-16.7% Y E AR OV ER Y E AR

18. 5% Y E AR OV ER Y E AR

16.1% Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

29

$399K $382K

- 54.7% Y E AR OV ER Y E AR

17.7% Y E AR OV ER Y E AR

Highest Sale

16.8% Y E AR OV ER Y E AR


1Q 2 02 2 | J U HL | L A S V EG A S HI GH R I SE

Juhl • Juhl sales changed by 433.3% year-over-year. • The highest sale price changed by 112.3% year-over-year, while the lowest sale price changed 14.7% year-over-year. • Average days on market for Juhl changed 100.0% to 16 days. • Juhl average price changed -6.9% year-over-year, and the median price changed -23.0% year-over-year.

Total Properties Sold

Average Price

32

$382K $1.1M

4 33. 3% Y E AR OV ER Y E AR

- 6.9 % Y E AR OV ER Y E AR

112 . 3% Y E AR OV ER Y E AR

Days on Market

Median Price

Lowest Sale

16

$317K

$226K

10 0.0 % Y E AR OV ER Y E AR

-23.0 % Y E AR OV ER Y E AR

Highest Sale

14.7% Y E AR OV ER Y E AR


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

TOTAL PROPERTIES SOLD is the total number of properties

MEDIAN PRICE is the middle or midpoint price where half of

that closed within the quarter reported.

sales fall below and half fall above this number.

HIGHEST SALE is the highest priced property that was sold in

DAYS ON MARKET averages how long a unit takes to sell and is

the area being reported on during the quarter reported.

calculated from subtracting the list date from the date of close.

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

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

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

D I SCL AI MER ©2022 Corcoran Global Living. 1980 Festival Plaza Drive, Suite 460, Las Vegas, NV 89135. CA DRE# 02109201; NV B.1000747; OH REC.2021004219. 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 affiliated with Corcoran Global Living are independent contractors and are not employees of Corcoran Global Living. Each office is independently owned and operated. All material presented herein is intended for information purposes only and has been compiled from sources deemed reliable. Based on information from Multiple Listing Servic. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Though information is believed to be correct, it is presented subject to errors, omissions, changes or withdrawal notice.


Don Kuhl Partner / Managing Broker Lic. #BS.0059797 702.324.2121 | Don.Kuhl@CorcoranGL.com 1980 Festival Drive, Suite 460 Las Vegas, NV 89135 VegasLuxuryHomes.com


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