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2004 Annual Housing ReviewSAMPLELas Vegas NVSalesTraq 702/255-7891Marketing Solutions 702/341-8355
EXECUTIVE SUMMARYCORE MARKET DATA: The following statistics are drawn from the core Las Vegas market. They do notEinclude outlying areas such as Mesquite, Boulder City, Laughlin and similar areas that currently have no bearing on theStandard Metropolitan Statistical Area of Clark County. Only closings which reflect an “arms length” transaction arecounted, which means trustee sales, deeds in lieu, partial interest conveyance, quit claims, foreclosures, multiple parcelsales and reconveyances are not included. The source of the data includes both the offices of the Clark CountyAssessor and the Clark County Recorder.SAMPLSALES: During 2004, the new home market registered an 14.5% increase in sales volume over 2003. Theexisting (re-sale) market registered a 28.6% increase in sales over the same time frame. In May 2004, the average“days on market” for a re-sale home was at a record low of just 19 days, but by year’s end had risen to 47.Similarly, the number of MLS listings hit an all time low of 1,455 in February but has since recovered to 11,266 atyears end, representing approximately a four month supply of resale homes. Gone are the waiting lists for newhome communities prevalent earlier in the year, and the multiple, above-list offers on existing homes. In anutshell, “Things have returned to normal.”PRICE: The median price for new homes hit an all time high in December of just over 300,000. For the entireyear, it increased from 207,615 in January to 300,780 in December – a gain of 45%. The median price of anexisting home began the year at 183,750 and by July had zoomed to 250,000 – a gain of 36% in just six months!However, it then plateaued at 250,000 where it ended the year in December.PERMIT ACTIVITY: There were 32,658 residential permits issued during 2004, and increase of 39% from theprior year. Not included in the permit figures are upwards of 10,000 apartments units, which have been mapped forcondo conversion. The average number of subdivisions increased from 305 in January and ended with 348 inDecember. The next “big wave” in Las Vegas appears to be mid and hi rise condos with nearly 70 projects invarious stages of planning and marketing. We should begin to see closings in some of these projects by late 2005.
2004 Housing Summary Las Vegas NVTABLE OF CONTENTSEXECUTIVE SUMMARYBy Steve Bottfeld, Vice President, Marketing SolutionsCHARTS AND GRAPHSSATABLESMPLENew Home Closings by VolumeNew Home Closings by Median PriceExisting Home Closings by VolumeExisting Home Closings by Median PriceTop Ten Best Selling SubdivisionsTop Ten BuildersTop Ten Most Expensive SubdivisionsTop Ten Least Expensive SubdivisionsTop Ten Planned CommunitiesNew Home Closings by MonthExisting Home Closings by MonthClosings by Builder (Ranked by # Closings)Closings by Builder (Alphabetical)Closings by Builder (Ranked by Avg Closing Price)Closings by Subdivision (Ranked by # Closings)Closings by Subdivision (Alphabetical)Closings by Subdivision (Ranked by Avg Closing Price)New Home Closings by Zip CodeExisting Home Closings by Zip CodeAUDIT SHEETS BY SUBDIVISION (ALPHABETICAL)
01/19/05Closings by MonthNew Homes 667,994PL6,870SAMSUMEMonth-YearA SalesTraq ReportPage 1
01/19/05Median Price by MonthNew Homes 12)Month-YearJAN-04All Areas 207,664East 144,600HNNorthNWSouthSW 269,725 186,946 228,279 204,030 206,110FEB-04 212,966 152,896 256,610 190,938 229,118 231,540 213,764MAR-04 228,634 154,454 275,000 202,876 240,471 249,932 231,562APR-04 235,480 165,935 285,554 205,422 254,322 232,308 231,877MAY-04 239,096 170,338 310,954 207,996 272,701 241,021 242,163JUN-04 244,787 173,834 338,116 222,824 276,200 229,900 242,020JUL-04 243,647 170,225 339,484 225,525 269,010 235,712 250,265 262,920 199,911 366,751 238,738 302,205 260,556 259,380 281,838 211,843 356,025 255,850 317,393 298,980 257,230OCT-04 282,050 205,000 342,711 257,989 325,826 311,813 277,462 292,507 212,488 337,120 281,527 359,060 300,780 246,292 343,770 292,054 358,613 252,558 186,100 322,288 232,219 268,103 277,689 282,746 252,421 246,381SAMMEDIAN 305,790 311,699PLNOV-04DEC-04EAUG-04SEP-04A SalesTraq ReportPage 1
01/19/05Closings by ZipcodeNew Homes 6 632,163 314,385 164,990 241,146 161,795 218,776 228,785 346,725 273,950 230,595 122,900 230,000 161,137 139,100 677,500 316,371 272,800 159,900 153,539 331,452 134,900 192,228 192,283 249,829 295,304 213,561 500,840 349,163 425,000 399,990 229,958 275,750 192,039 253,726 923,277 336,847 229,156 229,198 231,319 774,448 350,325 258,433 256,266 160,429 227,247 234,505 374,498 285,127 243,180 124,665 207,500 161,362 164,195 892,520 265,808 296,972 162,232 125,891 373,596 147,075 197,042 192,642 251,460 364,826 236,863 506,397 374,097 493,654 420,537 240,155 338,609 198,385 260,260 982,147 347,801 231,460 247,596 265,889Average Priceper SQFT 439.74 138.78 93.73 127.71 98.20 122.57 128.84 177.07 150.95 120.79 149.08 106.19 105.80 114.77 370.13 109.36 137.86 111.21 140.19 105.65 114.34 170.53 124.38 136.69 155.83 130.10 152.17 148.53 194.93 177.69 139.11 132.14 132.81 126.96 227.05 162.53 121.09 145.58 ,9211,7062,014 81,317,080 68,663,866 775,300 221,670,668 7,540,202 485,173,707 53,701,752 987,553,728 529,482,035 204,757,754 8,726,600 415,000 31,949,846 12,314,699 159,761,150 23,922,761 144,031,584 45,425,093 7,049,915 2,988,770 12,795,542 6,896,487 158,159,759 356,822,392 90,841,854 294,421,056 38,486,216 536,082,190 329,267,770 459,646,992 527,862,103 420,891,541 84,710,739 225,125,038 3,928,591 4,869,221 29,395,518 511,039,724 edate,200401,200412)SASearchCriteria:Page 1
01/19/05Closings by SubdivisionNew Homes Reportbetween(fsaledate,200401,200412)ACACIAALISO AT VISTA VERDEALLEN MANORALTERRAAMBER HILLS IIAMBER HILLS IIIAMBER RIDGEAMBER RIDGEAMBER RIDGEANDOVERANNENDALEANSEDONIAANTELOPEANTHEM COUNTRY CLUBANTHEM COUNTRY CLUBANTHEM COUNTRY CLUBANTHEM COUNTRY CLUB SERIES IANTHEM COUNTRY CLUB SERIES IIANTHEM COUNTRY CLUB SERIES IIIANTHEM COUNTRY CLUB SERIES IVANTHEM HEIGHTSANTHEM HIGHLANDS SERIES 1ANTHEM HIGHLANDS SERIES 2ANTHEM HIGHLANDS SERIES 3ANTHEM HIGHLANDS SERIES 4ANTHEM HIGHLANDS SERIES 5APACHE HILLSARBOR GLENARLINGTON ESTATESARLINGTON MANORARROWHEADARROWHEADARROWHEAD ACRESARROYO GRANDEASBURY PARKASCENTEASHLEY RIDGEASPEN ESTATESAURORAPARDEEPARDEED R HORTONRICHMOND AMERICANDAYSIDEDAYSIDEPULTERICHMOND AMERICANWESTMARKRICHMOND AMERICANWILLIAM LYONSOUTHWEST HOMESLENNARCUSTOMCUSTOM LOTDEL WEBBDEL WEBBDEL WEBBDEL WEBBDEL WEBBD R HORTONPULTEPULTEPULTEPULTEPULTEDAYSIDECONCORDIAD R HORTOND R HORTONCUSTOMCUSTOM LOTEOB CLARK COCELEBRATERICHMOND AMERICANRICHMOND AMERICANRICHMOND AMERICANCUSTOMRICHMOND AMERICANA SalesTraq ADA TRAILSNONEALIANTESPRING MOUNTAIN RANCHNONENONENONENONESUMMERLINNONENONESOUTHERN RLINGTON RANCHARLINGTON NENONESAAverageLot ,0984,3564,7922,27722,65110,019Clos- Avg ClosAvg Closingings .22.01.0Page 1 513,712 263,613 419,428 200,020 140,918 124,419 443,128 277,740 230,000 290,610 203,520 219,710 212,394 1,247,191 568,072 479,773 356,889 481,169 690,655 943,500 518,626 297,162 358,297 410,090 423,107 597,005 143,280 195,293 426,912 342,961 929,000 640,057 97,000 207,000 230,044 399,000 283,767 430,000 259,990
01/19/05Closings ReportNew Homes ReportSearch Criteria: between(fsaledate,200401,200412)PORTICO EASTPORTICO EASTPORTICO EASTTotal for SubdivisionBEAZERBEAZERBEAZERBEAZERAverageLot SizeSq FtPORTELLOCAMINOFINESTRONNN196624872612 212,481 241,501 244,8214,5014,5544,59031113PORTICO WESTPORTICO WESTPORTICO WESTPORTICO 2 214,298 238,958 247,353 248,2844,7124,6824,7044,760411142014Total for HNHNHN1491151718181878 183,312 172,678 183,634 183,2853,6304,0654,2184,039496151933Total for SubdivisionBEAZERBEAZERBEAZERSILVERLYN HEIGHTSSILVERLYN HEIGHTSSILVERLYN HEIGHTSPLAN 1517PLAN 1818PLAN 1878EEE151718181878 200,272 218,262 227,8963,6903,6603,68473366294Total for 65819661973198424872612 194,525 161,766 176,270 184,030 212,667 197,109 222,866 11618251642641Total for ZERBEAZERSUMMIT AT CINNAMON RIDGESUMMIT AT CINNAMON RIDGESUMMIT AT CINNAMON RIDGESUMMIT AT CINNAMON RIDGESUMMIT AT CINNAMON RIDGESUMMIT AT CINNAMON RIDGESUMMIT AT CINNAMON RIDGESUMMIT AT CINNAMON RIDGEVISTABLUFFSPINNACLETERRACEZENITHPOINTEPOINTE 43255 224,691 240,950 314,845 267,599 289,410 257,930 429,000 131821316121Total for RISE CANYONSUNRISE CANYONSUNRISE CANYONSUNRISE CANYONSUNRISE CANYONSUNRISE 5431873192019821985 208,873 209,972 233,068 236,801 244,005 otal for ZERBEAZERTOSCANA VINEYARDS VALLTOSCANA VINEYARDS VALLTOSCANA VINEYARDS VALLTOSCANA VINEYARDS VALLTOSCANA VINEYARDS VALLTOSCANA VINEYARDS VALLTOSCANA VINEYARDS VALLTOSCANA VINEYARDS 9031933472 195,929 210,506 216,032 228,466 340,111 350,372 428,207 1461104163526Total for SubdivisionBEAZERBEAZERBEAZERBEAZERVIEW AT BLACK MOUNTAINVIEW AT BLACK MOUNTAINVIEW AT BLACK MOUNTAINVIEW AT BLACK MOUNTAINPLAN 1PLAN 2BPLAN 3APLAN 3BHNHNHNHN1032137014291628 155,488 181,666 184,471 191,2782,3952,3522,4122,415476151311A SalesTraq ubdivisionSABuilderCountPage 6
01/19/05Closings by BuilderNew Homes Reportbetween(fsaledate,200401,200412)A SalesTraq ReportAvg 22.2150.51.13.72.06.59.54.719.72.21.01.015.6 436,538 538,265 211,505 309,506 197,891 275,745 131,181 218,713 272,553 228,227 270,919 151,665 140,924 246,640 149,853 224,624 150,764 775,633 159,997 247,112 199,156 366,041 676,181 562,053 306,127 141,599 377,888 564,944 483,408 698,676 155,102 274,275 345,977 317,446 167,641 97,000 230,000 146,095EAvg ClosingsPer MonthPLALLWEST HOMESAMERICA NEVADAAMERICAN PREMIEREAMERICAN SSIC DEVCONCORDIACONDOSLV.COMCRESTDALECUSTOMCUSTOM LOTD R HORTONDAYSIDEDEL WEBBDEMPSEYDESERT COVEDESERT OAKDESERT SKYDESERT WINDDEVELOPERS OF NEVADADISTINCTIVEENVIRONMENT FOR LIVINGEOB CLARK COFIESTAFREY DEVClosingsMBuilderSASearchCriteria:Page 1
New Home Median Prices 300,000PLE 250,000 200,000 50,000SA 100,000M 150,000 01Q2Q20033Q20044Q
NEW HOME PRICE SEGMENTATION15,00010,00012% 300- 250K22%33%5,00015%0 250 200K 200 150K 150K200335% 300K 16% 300 250K 250 200KPL 300K M20,00018%SA25,000E30,00022%20%7% 200 150K 150K2004
New Home vs. Existing Home Closing PricesE 350,000MPL 300,000SA 250,000 200,000 150,000Jan03FebMarApr May JunJulAug SepOctNov DecNew HomesJan04FebMarApr May JunExisting HomesJulAug SepOctNov Dec
15 Year New Home Median Price History 300,000EPL 200,0008.6%M 250,00030.1% 150,000 100,000SA3.6%1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
HOMEBUYER PROFILESAMPLE FEMALE: 55.8% MARRIED: 56.2% ONE PERSONHOUSEHOLDS: 20.7% 3 ADULTS: 9.8%
HOMEBUYER PROFILESAMPLE FROM OUTSIDE LASVEGAS: 22.3% CAUCASIAN: 67.5% MEDIAN AGE: 39.4 MEDIAN INCOME: 74,867
EPLMSA
DEMOGRAPHICSSAMPLE Every 7 secondsanother BabyBoomer turns 50.
anthem country club del webb hn anthem 10,280 5 1.0 479,773 anthem country club series i del webb hn anthem 7,841 21 4.2 356,889 anthem country club series ii del webb hn anthem 9,002 12 2.4 481,169 anthem country club series iii del webb hn anthem 14,776 51 7.2 690,655 anthem country club series iv
