Real Estate Investing

Where are the most homes selling in Las Vegas?

According to “Where are the most homes selling in Clark County?”Las Vegas Review-Journal

ZIP code 89135 led the way with most homes sold. This area is located in Summerlin South Las Vegas, Nevada with $45.9 million sold as of early 2024.

The area encompasses Summerlin South, below state Route 159, and is home to ultra-affluent communities such as The Ridges, a guard-gated community with a current average list price of $7.4M and a max list price of $21,5M, and The Summit Club, with prices starting at $7,9M and up to $30M.

The Las Vegas housing market exhibits resilience and adaptability, and prices have continued to rise in the face of the ever-evolving economic landscapes. Specific segments, particularly single-family homes, have experienced substantial growth in median prices, while the luxury market has remained relatively stable.

Las Vegas has about a two-month supply of available homes for sale, indicating relatively low inventory. This low inventory can lead to increased competition among buyers and potentially result in higher returns for sellers.

Market stats also show a 12-month change in months of inventory is down 20.7%, which means the market is tightening because the supply of homes for sale has decreased significantly over the past year. This trend suggests that it is a seller’s market.

This decrease in inventory can further drive up prices and ultimately create a seller’s market as more and more out-of-state buyers from high-priced markets such as CA are still relocating for the generous tax benefits and still reasonable real estate price points.

The median number of days homes are on the market in Clark County is 18 and 15 days for Las Vegas. In Summerlin South, 89135, the median days on the market is 15, which has increased 6.7% Month Over Month.

The Median Sold Price in this area is $740,000, indicating that homes are selling quickly. This quick turnover time can be attributed to the low inventory and high buyer demand.

The list-to-sold price percentage is 99%, showing that homes typically sell very close to their list price. This high percentage indicates strong buyer interest and competition, leading to sellers receiving offers close to their asking price.

The Median Sold Price in Las Vegas is $473k, reflecting a strong demand for homes in the current market. With homes selling quickly and close to the list, sellers can expect a good return on their investment.

This correlation between these real estate metrics paints a picture of a market with limited inventory, high demand, quick sales, and firm prices.

Buyers should be prepared to act fast and potentially pay close to the asking price. Sellers expect to see strong offers and a quick sale.

Contact me directly if you are ready to sell or buy real estate. All my information is in the description of this video. As always, thanks for watching. I hope you enjoyed this video, which provides more Las Vegas real estate updates and home tours. Be sure to subscribe to my channel.

Sources:

Las Vegas Review-Journal – By Patrick Blennerhassett Las Vegas Review-Journal February 13, 2024 GLVAR Las Vegas REALTORS, 2024

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Discover Unparalleled Luxury in Henderson’s Tresor Community

Introducing an exceptional opportunity to own a brand-new residence in the prestigious, gated Tresor community in Henderson, NV. Located at 566 Warhol Ct, this property is a testament to modern luxury and sophisticated design, offering breathtaking views of the Las Vegas Strip from its elevated position.

Property Overview

With an asking price of $1,999,999, this expansive home spans 4,583 square feet and features five bedrooms, four baths, and a versatile loft area. Designed by Lennar, one of the most respected builders in the industry, this house is the largest plan in the Tresor collection, crafted with meticulous attention to detail and an emphasis on luxury living.

Interior Highlights

The heart of this home is its open-concept living space, which combines elegance with functionality. The kitchen stands out with its striking white cabinetry, central island with a stylish waterfall edge, and a state-of-the-art stainless steel appliance package. Adjacent to the kitchen, the dining area is perfect for intimate meals or entertaining guests.

The loft area adds an extra layer of versatility to this already impressive home. It features a built-in wet bar with quartz countertops, making it an ideal space for hosting gatherings or enjoying quiet evenings at home.

Luxurious Main Suite

The primary suite of this residence is a haven of tranquility, boasting access to a private deck that offers unparalleled views of the valley below. The en-suite bath is a masterpiece of design, equipped with dual vanities, a soaking tub, and a walk-in shower, creating a spa-like atmosphere that promises relaxation and comfort.

Location Advantages

Tresor by Lennar Homes is nestled in a serene area of Henderson, renowned for its peaceful ambiance yet close to many amenities. Residents will enjoy easy access to exceptional shopping, dining, hiking trails, and various recreational opportunities, ensuring a lifestyle of convenience and luxury.

Model Home Tour

This property represents a unique opportunity to secure a never-lived-in home that combines luxury, comfort, and an exclusive location. Whether seeking a family residence or a sophisticated retreat, 566 Warhol Ct in the Tresor community is poised to exceed expectations and define luxury living in Henderson.

Click here to visit Susan Marques’ YouTube Channel. Please subscribe and hit the bell icon to get notified about the latest videos. Join our growing community today!

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ARCHITECTURALLY SIGNIFICANT HOMES ON THE MARKET NOW

Susan Marques, October 21, 2023

Showcasing those most captivating architectural homes currently available for purchase, spanning from The Summit Club in Summerlin to Lake Las Vegas.

Las Vegas has served as an inspiring backdrop for renowned architects worldwide. The diverse landscape features a range of desert modern designs, including expansive contemporary estates and minimalist gems that seamlessly blend indoor and outdoor living.

What is an A.S.H. Homes?

An A.S.H. Home refers to an Architecturally Significant Home that must meet a specific set of requirements to be categorized as such. These requirements typically involve technical challenges, constraints, or alignment with the system’s purpose.

The Summit Club Summerlin Las Vegas, NV (23.5M)

Discover this extraordinary Architecturally Significant Home by Blue Heron Elite custom home division. A true architectural marvel, located in the exclusive Summit Club. Situated on a premium corner lot over an acre, this $23,500,000 residence offers breathtaking views of mountains, a golf course, and the vibrant cityscape.

11051 Witchcraft Ct Las Vegas, NV 89135 Listing Presented By: Lillie M. Shines S.0077182 | Coldwell Banker Premier | Source: GLVAR,MLS#: 2507786

Experience the ultimate indoor-outdoor living with expansive pocket sliders. Indulge in the gourmet chef’s kitchen equipped with top-of-the-line appliances and a temperature-controlled wine wall. Unwind in the flex room, stay active in the gym, and enjoy the two spacious secondary bedrooms with ensuite baths.

The primary bedroom presents a private sitting area with direct access to its own spa-like sanctuary. Delight in the luxurious outdoor oasis of the primary bathroom, featuring dual showers.

Adjacent to the primary closets, you’ll find your own private office, providing a tranquil workspace. Step into the resort-style backyard and be captivated by the two zero-edge pools with a spa, as well as the outdoor kitchen complete with a pizza oven and bar. Revel in the panoramic views from the roof deck with a fully equipped bar, offering an unparalleled

perspective of the iconic Strip and dazzling city lights. For additional accommodations, the private attached 5-bedroom, 4-bathroom casita provides limitless options to suit your lifestyle.

The Estates at Lone Mountain ($6M)

Indulge in the unrivaled luxury of 4180 North Jensen Street. This contemporary masterpiece boasts 8 bedrooms and 9 bathrooms, nestled on a private 0.97-acre lot within the Estates at Lone Mountain.

Prepare to be enchanted by the grandeur of this home, featuring 8926 square feet of living space with soaring 20+ foot ceilings. Enthusiasts will appreciate the 6-car garage and RV hookup, while outdoor amenities such as a saltwater pool, spa, shower, and casita create an oasis of relaxation.

4180 N Jensen St Northwest Las Vegas, 89129 | Listing Presented By Ivan G. Sher | BS.0046822 | IS Luxury

Enjoy the convenience of home automation, security cameras, and water filtration, as well as a flourishing fruit orchard and close proximity to Lone Mountain and parks. Delight in the seamless blend of indoor-outdoor living as you soak in the breathtaking sunset over the tranquil landscape. This listing is not simply a property; it’s a rare opportunity to embrace innovation, elegance, and allure.

Caliza Show By Blue Heron Nexus ($3.9M)

Situated on the North Shore of Lake Las Vegas, the Caliza Show Home by Blue Heron offers an exceptional lakefront lifestyle.

5 Falling Ridge Lane, Henderson, Nevada 89011 | Listing Prsented By Darin Marques | B.0145227 | Virtue Real Estate Group

With 6,114 square feet of desert modern design, this two-story home showcases dynamic elevated lake views. It features voluminous ceilings, a striking linear gas fireplace, seamless indoor/outdoor living, 4 bedrooms, 4 baths, a 4-car garage, and an upper-level loft/game room with a bar. The sophisticated kitchen boasts a central waterfall island, custom cabinetry, a walk-in pantry, and a temperature-controlled wine cellar. The main-level primary bedroom showcases a stunning bath with double sinks, a walk-in shower, and a bath, as well as private access to the exterior. The property includes intimate conversation areas, an elevated infinity-edge heated pool, a spa, and breathtaking views of the lake and surrounding landscape. Close to incredible hiking and biking trails, championship golf, and outdoor dining, this gated property offers a private sanctuary.

MARKET UPDATE (NEW CONSTRUCTION BOOM, BUYER & SELLER MARKET STATS)

Susan Marques October 21, 2023

Let’s begin by discussing the current supply of inventory in our market. Presently, we have a 2.12 months supply of inventory. This figure represents the estimated time it would take for all available homes on the market to be sold, based on the current rate of sales. It’s worth noting that this is a tight market!

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Months Supply of Inventory: -39.6%

Now, here’s the fascinating part – over the last 12 months, we’ve observed a significant decline of 39.6% in the month’s supply of inventory. This indicates a high demand for homes in Las Vegas, contributing to a more competitive market. As a seller, this is fantastic news for you!

List to Sold Price: 98.5%

Speaking of sellers, let’s discuss the list of sold price percentages. Currently, we’re looking at a list to sold price ratio of 98.5%. This means that, on average, sellers are achieving close to their initial asking price. If you’re considering selling your home, now may be an excellent time to capitalize on this robust market and potentially maximize your profits.

Median Days on Market

Now, let’s examine the median days on market. Presently, homes in Las Vegas are spending just 19 days on the market before being sold. That’s less than three weeks! This clearly demonstrates the high demand and competitiveness of our market. As a buyer, it’s crucial to be prepared and act swiftly when you come across a home you love.

Median Sold Price: $404,995

Lastly, let’s delve into the median sold price. As of September 2023, the median sold price for homes in Las Vegas stands at $404,995. Remember, this is purely an average figure, and prices can vary based on factors like location, size, and condition. However, it does provide an overall understanding of the market trend.

Are There Actually More Homes for Sale Right Now?

Are you in the market to buy or sell a house? If so, you must stay informed about the current supply of homes in your area. In this article, we’ll provide an update on the current inventory of homes for sale and its implications for buyers and sellers.

Historically, there has been a shortage of houses for sale, making it challenging for buyers to find suitable properties. However, recent national data from Realtor.com suggests that there has been a slight increase in housing supply in many parts of the country. Last month, the country’s housing supply rose by 5%.

While this news might seem promising for potential buyers, it’s important to note that the current inventory remains significantly lower than typical levels. The graph below illustrates the present active listing counts in comparison to the most recent “normal” years in the housing market (2017-2019). As you can see, there is still a long way to go before inventory levels return to normal.

It’s crucial to remember that the housing market is highly local, and therefore, a trusted real estate agent is vital to get an accurate assessment of your specific market. If you’re looking to buy a home, your agent can provide a more comprehensive understanding of the inventory situation and offer essential strategies that other buyers have successfully used to navigate the low housing supply.

📊 Here’s a Market Snapshot:
📅 Date: October 2023
📍 Location: Las Vegas, Nevada

📈 Housing market is on the move! Here’s a snapshot of the latest market trends:

✅ Currently, we have a low 2.25 Months Supply of Inventory, indicating a competitive market for buyers. It’s crucial to act swiftly to secure your dream home in this fast-paced market.

📉 Over the last 12 months, the Months Supply of Inventory has decreased by 39.35%. This reduction shows a trend towards limited inventory, leading to increased demand and potentially higher home prices.

💲 Looking at the numbers, the List to Sold Price percentage stands at an impressive 98.6%. This indicates that sellers are receiving strong offers close to their asking prices, making it an advantageous time to sell your property.

⏰ Homes are not staying on the market for long! The median days on market is just 18 days. If you’re considering selling, this statistic highlights the desirability of Las Vegas properties and the potential for a quick sale.

📈The median Sold Price for homes in Las Vegas currently stands at $405,000. This figure showcases the value and growth potential of properties in our vibrant city.

For sellers, the rise in housing inventory should not discourage you. Despite the slight increase in the national inventory, available homes on the market remain significantly lower than usual, and some areas may have an even lower supply. A skilled agent can offer essential tactics to help you sell your property effectively in this competitive market.

Keeping up to date on the latest real estate market trends is essential whether you’re looking to purchase or sell a home. Don’t hesitate to reach out to our experts for guidance in navigating the continuously evolving world of real estate.

As your trusted REALTOR® I am here to guide you through the ever-changing market conditions and help you make informed decisions. Whether you’re buying or selling, don’t hesitate to reach out for personalized advice tailored to your unique situation! 🤝

Email me directly at: [email protected]

The Truth Behind Home Prices: What You Need to Know Before Investing in Real Estate” (Las Vegas, NV)

Buying a home is, for many, the biggest investment they’ll ever make. It’s not just a place to live, but an asset that can appreciate over time and generate wealth. Tt’s not surprising that homebuyers have become increasingly cautious when it comes to making this decision, especially in times of uncertainty.

Unfortunately, much of the media has contributed to this insecurity by spreading rumors and speculation about the housing market. These alarming headlines and clickbait articles may harm the industry by driving potential buyers away and prolonging the recovery process. But before giving in to fear and panic, it’s essential to take a closer look at the facts and listen to the people who know the market best: real estate professionals.

According to Fannie Mae’s latest report, more than one in five Americans still believe that home prices will decline over the next year. This perception is not necessarily based on reality but rather on misleading information that has been circulating in the media for months. Experts agree that the slight dip in housing prices last year was temporary and that the market has already rebounded in 2023.

In fact, the latest forecasts from various organizations confirm that home prices are expected to increase this year, instead of falling as some sources have suggested. The Fannie Mae forecast, for instance, has been revised from 3.9% to 6.7% appreciation for the year, highlighting the confidence experts have in the market.

While some may still feel skeptical about the housing market’s recovery, it’s crucial to keep in mind that the real estate industry operates differently from other markets. Unlike stocks, for example, which can plummet overnight, the housing market is relatively stable and follows predictable patterns.

Moreover, buying a home is not always about timing the market to get the best price. It’s about finding the right property that fits your lifestyle, meets your needs, and aligns with your long-term financial goals. In other words, while it’s essential to stay informed about the market trends, it’s even more crucial to focus on your personal situation and what you hope to achieve by purchasing a home.

If you’re feeling unsure or worried about the housing market, the best thing you can do is to talk to a real estate professional who can provide you with accurate and up-to-date information. An expert can also help you navigate the complex process of buying a home, from finding the right property to securing financing and closing the deal.

In conclusion, don’t believe everything you read or hear about home prices. Instead, rely on trusted sources, consult with professionals, and focus on your personal goals. Rest assured that the housing market is on a positive trajectory, and many opportunities await those who are ready to take advantage of them.

August Market Report & Metrics Explained

Whether you are a buyer or a seller, understanding real estate metrics is crucial in making informed decisions in the housing market. So, let’s dive right in and explore the correlation between these real estate indicators.

Months Supply of Inventory

Did you know that currently there are only 1.9 Months Supply of Inventory? This means that demand is high, and the market is favoring sellers. Over the last 12 months, we’ve seen a -16.3% decrease in Months Supply of Inventory, indicating a tightening market.

Months Supply of Inventory metric represents the number of months it would take to sell all the available homes on the market if no new listings were added. A lower value indicates a seller’s market, where demand exceeds supply, resulting in potentially higher prices. With a months supply of inventory of 1.97, we can conclude that the market leans towards a seller’s market, indicating a high level of demand.

12-Month Change in Months of Inventory

Next, we have the 12-Month Change in Months of Inventory, which is at -16.88%. This metric showcases the percentage change in the months of inventory over the past year. In this case, the negative value indicates a decrease in the number of months it would take to sell all the available homes. This further supports the notion of a seller’s market, as the decrease suggests a tightening supply and increased competition among buyers.

Median Days Homes are On the Market

Median Days Homes are On the Market, stands at a mere 20 days as of August, 1st 2023. This metric represents the average number of days it takes for a home to be sold after being listed. A lower value suggests a faster-paced market where properties are in high demand and attract eager buyers. With a median of only 20 days, we can infer that the real estate market is highly active, with properties being snatched off the market relatively quickly.

List to Sold Price Percentage

List to Sold Price Percentage, currently stands at an impressive 98.6%. This metric illustrates the percentage of the listing price that a property ultimately sells for. A higher percentage indicates that sellers are receiving offers close to their asking prices, reflecting a strong market where buyers are willing to meet sellers’ expectations. With a list to sold price percentage of 98.6%, we can conclude that sellers in this market have been successful in negotiating deals close to their asking prices.

Median Sold Price

Median Sold Price, which is at a substantial $443,250. This metric represents the midpoint of all the sold prices in a given area, providing insight into the overall pricing trends. With a median sold price of $443,250, we can deduce that the market is experiencing healthy price levels, reflecting strong demand and value in the housing market.

In summary, the correlation between these real estate metrics paints a promising picture for both buyers and sellers. The low months supply of inventory, coupled with a decrease in the months of inventory over the past year, suggests a seller’s market with high demand and potential for increased prices. The short median days homes are on the market further reinforces this notion, indicating a fast-paced market where properties are selling swiftly. Additionally, the high list to sold price percentage signifies that sellers are achieving their desired prices, while the substantial median sold price suggests a healthy and valuable market.

With these metrics in mind, buyers can approach the market with a sense of urgency and be prepared to make competitive offers, while sellers can expect strong demand and potentially favorable selling conditions. As always, it is crucial to consult with a trusted real estate professional to navigate this dynamic market successfully.

👉 Whether you’re looking to buy or sell, Susan Marques, your dedicated REALTOR®, is here to guide you through the dynamic Las Vegas real estate market.

Contact her today to discuss your goals and make the most of these favorable market conditions.

📞 702.816.1002

🌟 [email protected]

Why You May Want To Cash in on Your Second Home

When stay-at-home mandates were enforced last year, many households realized their homes didn’t really fulfill their new lifestyle needs. An office (in some cases two), a media room, space for children to learn, a gym, and a large yard are all examples of amenities that became highly desirable almost overnight. Zelman & Associates recently reported that sales of primary residences grew by 9% in 2020. That increase in demand was met by the lowest supply of homes for sale in history. High demand and low supply caused prices to skyrocket over the past twelve months. Here are three home price indexes released most recently that show how home values have risen:

FHFA Agency House Price Index shows a 13.9% increase
CoreLogic Home Price Insights Report shows an 11.3% increase
S&P Case-Shiller U.S. National Home Price Index shows a 13.2% increase

Prices increased by double digits in every region of the country and in 19 of 20 major metros. Chicago was the only exception, where prices still rose by 9%.

What does this mean to those who purchased a second home during the pandemic?

Many people didn’t want to give up a home in the city or close to their office. Instead, they purchased a larger second home farther away and moved there to stay safe and have more space. According to the same Zelman report, sales for second homes rose an astonishing 27% in 2020. That large second-home retreat on a lake or in the mountains would demand a higher price than the average house. Let’s assume a buyer purchased such a home for $500,000. Assuming the middle 13.2% appreciation shown above, that home would now be worth about $566,000. Those who bought second homes to improve their lifestyle during the height of the pandemic, or those who just wanted to be in a safer environment, also made a great investment.

What should these homeowners do now as the pandemic is receding, and the economy is reopening?

The buyers of those second homes now have a decision to make. Many will move back to the original home they still own (the one that’s closer to work, friends, and family). Should they keep the second home? That could depend on answers to questions like these:

Now that you may have to go back to the office (at least a few days a week) and students are required to physically attend school, would you still use the second house enough to warrant the expenses of an additional home?
Would you go to the second home on most weekends, or would you return to the movie theater, attend sporting events, eat out at fine restaurants, or spend your time traveling again?

Bottom Line

If you purchased a larger second home during the pandemic, you were able to make day-to-day life much easier for those important to you. You also made it much safer. However, with those goals already accomplished, you now need to decide whether to continue paying the extra expenses or sell the house and cash in your profit. If you decide selling makes sense, let’s connect today to discuss the value of your second home.

Bottom Line

Susan Marques

Susan Marques is a real estate broker-salesperson, CMO, and founder of Virtue Real Estate Group. With a family lineage in real estate entrepreneur and a background in video production, broadcast journalism, and content marketing, Susan Marques has carved a niche as a listing & new construction home specialist.

She brings a personal touch to the real estate experience, making it enjoyable and seamless by providing a wealth of information and resources in a fun and approachable manner throughout the greater Las Vegas area.

REALTOR® | BS.0146408
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In Henderson, NV
3 Unique ASCAYA Facts That Shaped the Luxury Community
May 14, 2016

Where are the most homes selling in Las Vegas?

Discover Unparalleled Luxury in Henderson’s Tresor Community