INSIGHT - 2015 Q1 Market Report
16
2015 Luxury Market Report Q1 INSIGHT
description
Synergy | Sotheby's Las Vegas Luxury Residential Real Estate Market Report
Transcript of INSIGHT - 2015 Q1 Market Report
2015 Luxury Market ReportQ1
I N S I G H T
THE OUTLOOK FOR LAS VEGAS CONTINUES TO BE BRIGHT-As the market continues to stabilize overall, we see the sales volume right on par with 2014
while maintaining the higher median home values. With the advent of potential interest rate
hikes in the latter part of the year we may see increased buyer activity to benefit from the still
historically low rates.
The luxury segment of the market continues to show promise with record sales at the upper end
of the spectrum and maintaining our sales volume overall. However, we are seeing an increase
of homes coming to market bringing about an increase in supply. We are still looking forward to
a strong second quarter.
The data on the following pages will provide insight into select luxury communities of the
Las Vegas valley. You can always access all current listings and information at KuhlGroup.com.
When you are ready to find your dream home or truly showcase your property, we welcome the
opportunity to earn your business.
Note: This report is focused on select luxury communities in Las Vegas and Henderson. Data Sources: MLS, Public Records, and CoreLogic. All information deemed reliable but not guaranteed. If your property is currently listed for sale this is not a solicitation. Copyright 2015 The Kuhl Group
Don Kuhl 702.324.2121
Amy Kuhl [email protected]
Michael Mitchell702.580.2236
Peggy Scimone [email protected]
When you are ready to buy or sell, put our local expertise and Sotheby’s global reach to work for you.
$120
$102
$100
2,000
3,000
4,000
7,000
9,000
8,000
6,000
5,000
Listed
Residential Sold/ListedAVER
AGE
$/SF
SO
LD
AVG $/SF Sold Sold
JAN JAN FEB MARFEB MAR APR MAY JUNE JULY AUG SEPT OCT NOV DEC2014 2015
KuhlGroup.com
1,000
$
$112
$114
$110
$108
$106
$104
$116
$118
Las Vegas Single Family Residence Trend Chart1,000$1$102 1,000
JAMAR APR MAY NOV DEC JAMAR APR MAY JUNE JULY AUG SEPT OCT NOV DEC
$1$100 $
Single Family Residences <$100K
$100K – $249K
$250 – 499K
$500K – $749K
$750K – $999K
$1mm – $4.99mm
$5mm+
Luxury Homes$750K – $999K
$1mm – $1.49mm
$1.5mm – $1.99mm
$2mm – $4.99mm
$5mm+
80
100
120
140
160
180
200
20
0
80
118
124
184
15
70 68
79
90
<$100K $5mm+$100K –$249
$250K –$499
$500K –$749
$750K –$999
$1mm –$1.49mm
$1.5mm –$1.99mm
$2mm –$4.99mm
60
40
80
100
120
140
160
180
200
20
0
60
40
Average Days On Market
Single Family Residences
Single Family Residences Traditional
Short Sale
Bank Owned
82%
S U M M E R L I N
T H E R I D G E SThis private reserve of luxury homes, situated on 800 acres in the master-planed community of Summerlin, is recognized as one 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.
Click here for more information.
RED ROCK COUNTRY CLUBSet 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. It’s the nearby Red Rock State Park provides inspiring natural beauty.
Click here for more information.
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 4 1,616,250 2,855,000 980,000 320 120 2015 Q1 5 3,771,778 8,050,000 1,575,000 444 119 ∆ 1 2,155,528 5,195,000 595,000 124 (1)
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 18 815,861 1,770,000 465,000 239 66 2015 Q1 16 975,588 1,890,000 585,000 267 66 ∆ (2) 159,727 120,000 120,000 28 -
S U M M E R L I N
T O U R N A M E N T H I L L STournament 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.
Click here for more information.
B E L L A C E R ESet behind a guard-gated entrance, Bellacere is a truly an intimate community filled with a wealth of green spaces, which only fifty-four families can enjoy. Designed in a way so 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.
Click here for more information.
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 1 2,300,000 2,300,000 2,300,000 363 305 2015 Q1 1 978,900 978,900 978,900 210 13 ∆ - (1,321,100) (1,321,100) (1,321,100) (153) (292)
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 1 1,190,000 1,190,000 1,190,000 248 148 2015 Q1 1 1,310,000 1,310,000 1,310,000 275 10 ∆ - 120,000 120,000 120,000 27 (138)
S U M M E R L I N
M O U N T A I N T R A I L SSet in 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 as by passing through the guard-gated entrance and takes residence on a path of unmatched possibilities.
Click here for more information.
E A G L E H I L L STree-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.
Click here for more information.
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 1 2,300,000 2,300,000 2,300,000 363 305 2015 Q1 1 978,900 978,900 978,900 210 13 ∆ - (1,321,100) (1,321,100) (1,321,100) (153) (292)
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 1 1,515,000 1,515,000 1,515,000 281 27 2015 Q1 1 1,600,000 1,600,000 1,600,000 332 91 ∆ - 85,000 85,000 85,000 51 64
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 1 1,190,000 1,190,000 1,190,000 248 148 2015 Q1 1 1,310,000 1,310,000 1,310,000 275 10 ∆ - 120,000 120,000 120,000 27 (138)
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 6 1,152,483 1,675,000 750,000 217 94 2015 Q1 2 1,150,000 1,475,000 825,000 182 131 ∆ (4) (2,483) (200,000) 75,000 (35) 37
S U M M E R L I N
C A N Y O N F A I R W A Y SAppropriately situated for luxury and appropriately named for its convenience as it backs Tournament Players Club Las Vegas, a public course Golf Digest describes as, “one of the best.” Pass through the 24-hour guard gated entrance and discover lavish homes set against amazing views of the Las Vegas valley.
Click here for more information.
P A L I S A D E SAs 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 TPC Las Vegas Golf Course, Palisades provides an elevated sense of living and the views of the Las Vegas valley and the Canyons fairways accentuate that feeling.
Click here for more information
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 2 1,192,500 1,325,000 1,060,000 269 67 2015 Q1 5 1,284,800 1,775,000 810,000 231 131 ∆ 3 92,300 450,000 (250,000) (38) 64
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 1 835,000 835,000 835,000 204 105 2015 Q1 2 1,012,500 1,100,000 925,000 200 109 ∆ 1 177,500 265,000 90,000 (4) 4
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 2 1,192,500 1,325,000 1,060,000 269 67 2015 Q1 5 1,284,800 1,775,000 810,000 231 131 ∆ 3 92,300 450,000 (250,000) (38) 64
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 1 835,000 835,000 835,000 204 105 2015 Q1 2 1,012,500 1,100,000 925,000 200 109 ∆ 1 177,500 265,000 90,000 (4) 4
S U M M E R L I N
V I N E Y A R D SThe residences at The 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.
Click here for more information.
C O U N T R Y C L U B H I L L SSet along the Tournament Players Club 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 Vegas’ most sought after, high-end builder, Christopher Homes.
Click here for more information.
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 - - - - - - 2015 Q1 2 939,500 1,000,000 879,000 215 40 ∆ 2 939,500 1,000,000 879,000 215 40
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt2014 QTR1 5 748,360 921,000 685,000 172 59 2015 QTR1 2 1,070,000 1,340,000 800,000 233 62 ∆ (3) 321,640 419,000 115,000 61 3
H E N D E R S O N
MAC DONALD HIGHLANDS*
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 suburb of Henderson, MacDonald Highlands is uniquely luxurious and distinctly lavish and home to the Dragonridge Country Club.
Click here for more information.
L A K E L A S V E G A SIf 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.
Click here for more information.
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 7 950,357 2,000,000 540,500 221 63 2015 Q1 6 1,547,650 2,375,000 800,000 248 122 ∆ (1) 597,293 375,000 259,500 27 59
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 QTR1 17 800,259 2,500,000 260,000 225 95 2015 QTR1 11 614,812 990,000 375,000 201 118 ∆ (6) (185,447) (1,510,000) 115,000 (24) 23
H E N D E R S O N
ANTHEM COUNTRY CLUBNestled 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.
Click here for more information.
T H E F O U N T A I N SKnown 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.
Click here for more information.
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 7 950,357 2,000,000 540,500 221 63 2015 Q1 6 1,547,650 2,375,000 800,000 248 122 ∆ (1) 597,293 375,000 259,500 27 59
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 17 669,399 1,600,777 342,500 217 109 2015 Q1 18 672,694 995,000 268,000 208 69 ∆ 1 3,295 (605,777) (74,500) (9) (40)
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 QTR1 17 800,259 2,500,000 260,000 225 95 2015 QTR1 11 614,812 990,000 375,000 201 118 ∆ (6) (185,447) (1,510,000) 115,000 (24) 23
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 2 764,950 815,000 714,900 177 67 2015 Q1 1 760,000 760,000 760,000 202 80 ∆ (1) (4,950) (55,000) 45,100 25 13
H E N D E R S O N
R O M A H I L L SExpansive living can sometimes come in an intimate environment and that is the beauty of Roma Hills. Designed as a sanctuary for only 144 homes, Roma Hills is luxuriously unique in Las Vegas. Set against Black Mountain and offering spectacular views of the entire valley, Roma Hills is a guard-gated retreat for privacy and unrivaled living.
Click here for more information.
S E V E N H I L L S *
As the Roman Empire was built upon its famed rolling hills, so too is the mater-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 wondrous views of the entire Las Vegas valley Seven Hills is home to the Rio Secco gold course designed by Rees Jones, as well as, an abundance of outdoor activities and amenities.
Click here for more information.
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 - - - - - - 2015 Q1 2 1,425,000 1,600,000 1,250,000 214 71 ∆ 2 1,425,000 1,600,000 1,250,000 214 71
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 7 1,181,508 2,250,000 525,555 230 99 2015 Q1 8 1,115,188 2,300,000 529,000 218 100 ∆ 1 (66,320) 50,000 3,445 (12) 1
GO
LF C
OU
RSE
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 - - - - - - 2015 Q1 2 1,425,000 1,600,000 1,250,000 214 71 ∆ 2 1,425,000 1,600,000 1,250,000 214 71
# of Average Sales Price Sales Price Avg Sales Avg Days Transactions Sales Price (Max) (Min) Sales $/SF on Mkt 2014 Q1 7 1,181,508 2,250,000 525,555 230 99 2015 Q1 8 1,115,188 2,300,000 529,000 218 100 ∆ 1 (66,320) 50,000 3,445 (12) 1
The Worth of a HomeIt can all be found in the details that truely define uniqueness. Details as simple as a centuries old fireplace that remains the historic prominance of a time past, or as grand as a rooftop promenade atop a landscape of city lights. So, to us, it’s not about the size of the property, the number of bedrooms, or even the price, but more about the distinct character that makes a home noteworthy of being called exceptional.
A TEE AWAY
Sales through 3/31/15
Golf Course Sales Highest Average Lowest $/SF Days on MktSouthern Highlands 1 $1,300,000 $1,300,000 $1,300,000 $239 297
Dragonridge 1 $1,750,000 $1,750,000 $1,750,000 $260 110
Red Rock Country Club 11 $1,890,000 $1,065,591 $599,000 $276 76
Badlands 1 $1,075,000 $1,075,000 $1,075,000 $238 251
Rio Secco 4 $1,450,000 $935,625 $572,500 $237 94
TPC Summerlin 1 $1,340,000 $1,340,000 $1,340,000 $295 18
TPC Las Vegas 2 $925,000 $867,500 $810,000 $219 43
Anthem Country Club 3 $835,000 $711,667 $560,000 $230 74
Spanish Trail Country Club 2 $765,000 $683,500 $602,00 $145 59
Canyon Gate Country Club 1 $825,000 $825,000 $825,000 $204 27
Rhodes Ranch 1 $620,000 $620,000 $620,000 $180 52
Las Vegas Country Club 2 $346,000 $336,750 $327,500 $183 18
Sales Price Average
®, TM 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. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of another 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 The Kuhl Group or Sotheby’s International Realty ®.
LIKE NO OTHER
Your listing could have COUNTLESS visitors this month, without you ever needing to
open the door. To showcase your listing on SothersbyRealty.com, is to gain additional
exposure on over 14 highly regarded websites around the globe. From the online digital
network that is wsj.com, to the international search giant, Yahoo.com. Introduce your home
to those near and those far. Because the more introductions, the more possibilities.
This is our world.Global Media Partner U.S. Focus Only Powered by PropGoLuxury
®, TM 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. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of another 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 The Kuhl Group or Sotheby’s International Realty®.
8330 West Sahara #110 • Las Vegas, NV 89117 • 702.324.2121 • KuhlGroup.com
