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Foster Market Movements

9 Vintage Ridge Drive

9 Vintage Ridge Drive

9 Vintage Ridge Drive Las Vegas, Nevada 89141. MLS# 2469853. Listed by Gretchen Wills licensed sales associate with IS Luxury. Sold by Angela Tina licensed sales associate of Urban Nest Realty. 1 of photographs at the top of the post.

9 Vintage Ridge Drive Las Vegas, Nevada 89141

9 Vintage Ridge Drive Las Vegas, Nevada 89141

9 Vintage Ridge Drive Las Vegas, Nevada 89141

9 Vintage Ridge Drive Las Vegas, Nevada 89141


MARKET MOVES

Updated as of Tuesday May 2nd, 2023

In the last 7 days 160 homes priced from 1million dollars and up had movement.

Of the lot, 40 were sold at an average p/sqft of $411 with 50 days on market. This brought the average price sold to $1.65m and the sales volume to $63m. The list to sale price ratio was 95.39%.

Homes falling under contract in the last 7 days totaled 39 with $421 p/sqft and $2.15m being the average price per square foot and average contract price. These homes feature on average about 5000 square feet, 4 beds, 5 baths and a three car garage on an oversized lot.

Off marke sellers totaled 16 properties. Average price here was $2.2m with $486 p/sqft. The off market homes average 114 days on the market before being cancelled. The split was even with 50/50 Summerlin to Henderson.

The inventory increased by 40 new active listing last week. The averages were $466 and $2.379m. Summerlin took the lead on most new listings, Henderson and the Valley follow in that order.

Coming soon properties are popping up in the West Valley first followed by Summerlin second. There 11 new listings coming on the market which featuring on average 4 bd, 5 bth, 3.5 car, 13,000 lot. $419 is the price per square foot with $2,200,000 being the average price.


STANDOUTS

Highest priced sales at $4,095,000 / $P/SQFT $676 was Gavin Ernstone. It was in an unmarked neighborhood on a half acre lot not too far from Allegiant stadium. World renown art photographer Peter Lik’s JEWEL Homes. It was a contract to build back in August of last year. This was brand new construction. Photos sourced from the MLS property listing can be seen below. Price per square foot came in at $682. Shows zero days sold but actually it was 9 months. And it really wasn’t a resale but a new construction. The exact address is 6985 Stargazer Ridge Court, Las Vegas, Nevada 89118.

Second highest priced sale at $4,000,000 / $P/SQFT $692 was Gretchen Wills. Gretchen’s listing took 76 days to sell. It is inside the master planned community of Southern Highlands Country Club behind a gates and more gates. Gretchen‘s property is exceptional. Photos sourced from the MLS property listing can be seen scattered above as the feature of this post. The property address is 9 Vintage Ridge Drive, Las Vegas, Nevada 89141. Her home caught a higher price per square at $692. It was a Resale. Vintage Ridge is the neighborhood within Southern Highlands.

Third highest priced sale at $3,380,000 / $P/SQFT $732 was Gary Anter. He carried the listing for 218 days before it sold. And Anter captured the highest price per square foot with $732. It is exceptional as well, and this time it is in the Ridges. Photos sourced from the MLS property listing can be seen in the middle of this post. Although finished extremely well, essentially it’s track home built by William Lyons a home builder who is no more. This speaks to the power of the Ridges and to Summerlin. 11464 Opal Springs Way, Las Vegas, Nevada 89135 is its address and it’s sitting on little less than 1/3 acre.

The sales professionals above are my colleagues and fellow members of the Las Vegas REALTOR Assocation. I’ve worked alongside Gretchen at IS Luxury with Ivan Sher. She is remarkably kind and meticulous about details. Gavin is one the brokers I respect most. He has answered 100% of the calls I have made to him over the years. Tha’s a lot of calls and a lot of years. He’s always on and always available. And he still throws really good broker open parties. Gary is a Lone Ranger. I’ve long admired his independence, so much so I pursued a similar path.


INTEREST RATES

Bottomed 4/27 and bounced back up by the same it dropped on 4/28. Stayed the same since. FED hiked yesterday and signal hikes might be over but are taking it month by month.


SOLD $1,249,000

Below is a feature past sale. I represented the buyer. It was my third transaction with my client. We were referred to one another back in 2018. Sales price was $1,249,000. The home was on the market for 2 days. Sales price was $454 per square foot.

1929 Canyon Highlands Drive


1929 Canyon Highlands Drive Henderson Nevada 89052. MLS #2449435. Listed by Ryan Crighton of Rothwell Gornt. Sold by Jimmy Foster owner and broker FOSTER 1:1 Real Estate. A single story home located inside Midnight Ridge the gated community by TriPointe homes on the hillside of MacDonald Ranch. 2737 square feet with 3 bds, 4 baths, 3 car. 1/4 photographs below.

1929 Canyon Highlands Drive

1929 Canyon Highlands Drive

1929 Canyon Highlands Drive


This is MARKET MOVEMENTS.

I track and analyze every 7 days the movement of single family residential properties with a million dollar minimum price. It’s a quick piece to consume with what I hope is entertaining commentary. The report will keep you informed on the market activity in the million dollar and up residential real estate market in a week by week digestible format you can read, listen to or watch me present.

I personally research, analyze, interpret, write, present, record and edit the report.

I link to my favorite personally previewed properties on market today.

I write a draft on Monday mornings. Then I edit and revise on Tuesday. Wednesday morning I publish it to my website and YouTube and send an email alert to my list of email subscribers.

MARKET MOVEMENTS is set in the now with the most recent and relevant market sales activity shown through the eyes of an experienced real estate broker with 8 years full-time as real estate licensee and 33 years as a Southern Nevada.


11464 Opal Springs Way Las Vegas, Nevada 89135. MLS # 2414933. Listed by Gary Anter Broker and Owner of Presenting Vegas Realty. Sold by Christina Vojth licensed sales associate of North American Realty. 1/3 photos below.

11464 Opal Springs Way Las Vegas

11464 Opal Springs Way Las Vegas

11464 Opal Springs Way Las Vegas

FOSTER

MARKET MOVEMENTS

Wednesdays


Get your arms around the market million dollar residential real estate market fast, and keep it there!


6985 Stargazer Ridge Court Las Vegas,


6985 Stargazer Ridge Court Las Vegas, Nevada 89118, MLS# 2431007 Listed by Gavin Ernstone owner and broker of Simply Vegas. Sold by Broker-salesperson Jeannette Martinez with Realty One. 1/7 photos at the bottom of this post.

6985 Stargazer Ridge Court Las Vegas,

6985 Stargazer Ridge Court Las Vegas,

6985 Stargazer Ridge Court Las Vegas,

6985 Stargazer Ridge Court Las Vegas,

6985 Stargazer Ridge Court Las Vegas,

6985 Stargazer Ridge Court Las Vegas,


Hope this message finds you well.

Best,
Jimmy Foster
Real Estate Broker
REALTOR
jimmy(at)jimmyfoster(dotted)com
702.274.8872
Nevada Real Estate Division License #146172
Multiple Listing Service Public ID #235623

The real estate market remains active. I’m in the field everyday previewing property, studying prices and reading the reports. Text, call or email any questions you have about the market, your home value and or what it means to sell or buy in today’s market. I have answers. 702.274.8872 Mobile Number

Jimmy Foster

P.S. This is a developing idea. I plan to improve it week over week and I invite your feedback to help me make it better. Please send me your feedback with a call, text or email. Thank you for taking the time to get to the bottom of my new and developing weekly newsletter. I hope to have the video version in place by next week’s edition! And here’s to progress over perfection!

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