A’s enter binding agreement for Tropicana site. Knights move forward on pursuit of the Stanley Cup. Raider’s looking forward to a new season featuring #7 all around NFL draft pick and Super Bowl 2024 hosted by Las Vegas.
Builder confidence is up. Interest rates are remaining relatively flat although the economy headlines rule the day. Another metric showing stability is the median home price delivering 5 months of consistency with a slight uptick in the most recent month. Seller’s are making concessions 46% of the time. Most homes are selling below asking price however not more than 5% in most cases. The very best homes are still selling the fastest and with multiple offers and great terms for the sellers including above list price, no appraisal contingency and no repairs being requested a good deal of the time.
The last 7 days saw 136 single family residential resale properties moved in Southern Nevada.
Quick Stats on All
4 Beds 5 Baths 3 Car Garage 17,800 sqft lot and 4,375 sqft living space for $2m
Homes coming on the market featured an average price of $1,940,000 and $453 p/sqft for 4300 sqft on a 16,000 square foot lot. My favorite new listing is MLS#2493882 9 Yorkshire Ridge Court with an asking price of $4,950,000. This is Landon Boeckle’s listing B.100182. He is the broker and co-owner of The Boeckle Group. You will see photos featured throughout this post.
Approximately 52 new listings hit the market last week. The most expensive home to come on the market was MLS#2494235 32 Vintage Canyon Street with an asking price of $4,998,000. Below please find a list of the top three prices.
- List Price $4,998,000 Address 32 Vintage Canyon Street
- List Price $4,950,000 Address 9 Yorkridge Court
- List Price $4,285,000 Address 9328 Tournament Canyon Drive
Approximately 20 homes sold. The most expense sale was MLS#2476880 6064 Cliff View Court with a sale price of $2,750,000. Cliff View was sold by Mark D Wiley BS.01455407 with Keller Williams Market Place. The listing was with Ying Liu S.0174982 and Jason’s Realty. Below find a list of the top three prices.
- Sale Price $2,750,000 Address 6064 Cliff View Court
- Sale Price $2,150,000 Address 5255 West Agate Avenue
- Sale Price $2,000,000 Address 9517 Tournament Canyon Drive
The fastest mover was MLS#2490177 115 Siddall Avenue Las Vegas, Nevada selling for $1,200,0000 after just 1 day on the market. Sold by Brandon Gilbert S.0172776 with Red Rock Realty. It was listed by Geoffrey W. Lavell B.1002004 of The Brokerage. Brandon’s buyer brought cash. Average days on market for sold homes las week was 58.
Approximately 25 homes moved to the pending column. The highest priced home to fall under contact was MLS# 2397478 3 Heavens Edge Court with an asking price of $14,999,000. Ivan Sher BS.0046822 of IS Luxury brought the buyer. Daniel S. Coletti B.0036474 listed his own Sun West Custom Home with his own brokerage Sun West Luxury Realty. Below find a list of the top three prices.
- Pending Price $14,999,000 Address 3 Heavens Edge Court
- Pending Price $10,000,000 Address 20 Soaring Bird Court
- Pending Price $5,400,000 Address 38 Ravenswood Avenue
It looks like 36 properties came off the market without a successful sale last week.
For Sale $4,950,000. 9 Yorkridge Court Henderson Nevada 89052 Anthem Country Club MLS #2493882 listed by Landon Boeckle broker of Boeckle Group Real Estate license number B.1001882.
be the change
Affordable housing is needed. I know too much not to take a stab and trying to deliver. Something I’m working on. Icebox Canyon, diamondcake development and construction. Dessert dwellings. 2 acre parces around the valley x7 covering all ares and offering secure affordable housing delivered in 9-12 months. Start taking orders soon. Planned pricing is $199,000 each. CC&R’s will allow for long and short term rentals.
Today’s median home price is approximatley $440,000. Not really affordable. Now $199,000 with FHA is affordable when requiring $7,000 down and carrying a mortgage of about $1,750. That’s affordable. Idea. Be the broker between buyer, manufacturer and land owner bringing to market my own design, model and process for land development specifically related to an affordable housing product.
If this sounds remotely interesting to you for yourself or someone you know please send me a note and forward them my email. I’d ilke to start forming an interest list. Inspirational sketch of a preliminary site plan below.
MLS #2331662 N. Eula Street Las Vegas Nevada 89149. The is one of my past sales. It is a single story home on half acre lot. The area was Northwest Valley near Lone Mountain. The home sold for $1,440,000. I represented the buyer. This was the 7 transaction with the same client.
It was listed by licensed sales-person Robin I. Smith #S.0021625 of Keller Williams Realty Las Vegas. The area was Northwest Valley near Lone Mountain. The home sold for $1,440,000.
MLS #2331662 N. Eula Street Las Vegas Nevada 89149
Get your arms around the million dollar real estate market fast, and keep it there! It’s a quick piece to consume with what I hope is entertaining commentary.
The report will keep you informed on the market activity on a week by week in a digestible and fun format you can read, listen to or watch me present. Listening and watching coming soon.
Set in the now featuring the most recent and relevant market making transactions. A unique view through the eyes of an experienced real estate broker who has been a full time licensed real estate professional for the last 8 consecutive years. And I’ve lived here for more than 33 years.
I personally research, analyze, interpret, write, present, record and edit this report. It keeps me fresh and focused. Every 7 days I track and analyze the movement of single family residential properties featuring a million dollar minimum price.
I write a draft on Sunday mornings, write more, revise and edit again on Monday too. Tuesday I continue to copy edit while fact checking and adding in details like captions, credits and license numbers and names. I also begin to source property photos. Tuesday is also the day to begin sending test emails with subject line versions, opening and viewing email newsletter experiences and overall tinkering and toying trying to make it better and easier to publish week over week. Wednesday I publish it to my website and YouTube and send an alert to my list of email subscribers.
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.
Hope this message finds you well.
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Contact points, credentials, clickable links and a recent photo below.
Real Estate Broker
Nevada Real Estate Division License #B.0146172
Multiple Listing Service Public ID #235623
8275 S. Eastern Avenue Ste 200
Las Vegas, NV 89123
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Jimmy Foster sells, buys and builds property representing—above all else—the best interest of his clients. He specializes in luxury residential real estate, raw undeveloped land and buyer representation.
Photos sourced from MLS property listings with watermark shown. Permission provided from listing agent prior to publication.
Notice: This message is not intended as a solicitation to any person or persons currently in an agency relationship with a Nevada Real Estate Division licensee.
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. And here’s to progress over perfection, again.