Trending the Las Vegas Real Estate Market

BY BRIAN G. THORNTON

Photography courtesy of AVIA Media Group

If you follow trends, then much of what you’re about to read may be familiar to you. If you are a homeowner looking to relocate, trade up or downsize in the next few months to a year, it may make sense to refresh what you thought you knew about design trends.

Trends are significant because they change by the minute in most markets. Trends matter because they are a barometer of progress. They allow us to connect with people in real time. Imagine reviewing a trendless history, as it would be nearly impossible with no visible progress. We would be mired in sameness. Images of older homes with wood paneling, Formica countertops or sheet vinyl flooring in the kitchen, formal living, dining, and family rooms, pastel-colored ceramic tile in the bathrooms, and twin closets with bi-pass doors in the Master Bedroom. These are all design trends that speak to an era long passed.

Some common elements homebuyers are looking for in small, medium, and large home price segments are driving trends and the topic of this story. For this article, single-family homes only are considered. To further define the segments, we looked at lower-priced homes less than the $350,000 range, $350,000 – $500,000 mid-range, and the upper-end luxury market. We focused on three trends: Kitchens, open concept plans, and because we are in Las Vegas and our outdoor space is an extension of our interiors, we looked at discussions regarding outdoor spaces, too. We visit these issues in the first series of articles, stories, and conversations and find some interesting trends.

ISLAND LOVE

In an unscientific survey of real design professionals, local and national homebuyers lead and influence home buying, renovation, and design trends. Kitchens remain the geographic centroid and focus of any home. Kitchen islands are a comment and ubiquitous element that organize most food prep areas. The design and relationship to the entire house are key to how most modern families function at any price point.

The homemaker wanted to be a part of the conversations during meal prep. Where feasible, walls were removed, and a pass-thru from the kitchen to the dining room was installed. As formal dining rooms and living rooms evaporated, the open plan concept or open concept became very popular. Architects, designers, and builders began with a clean sheet of paper and combined living-dining and family rooms. The result was the GREAT ROOM. That pulling back of the curtain meant that kitchens, usually hidden away, were now front and center. The ugly appliances and workhorse utilitarian equipment needed also to be pretty and not just functional. Gone are the casual wood cabinets and premium woods, often replaced by European lacquered flat panel or Shaker style doors for a “cleaner” less fussy look. Pressure then focused on lighting, storage, and the backsplash material. The kitchen functions as a gathering place, and the food prep and entertaining space needs to breathe.

BREATHING ROOM

Having enough interior space to function as a family or an individual is a luxury in and of itself. Years ago, inventive home buyers began deconstructing houses. The open concept not only applied to interiors but extending the interior into the outdoors and private yards has catapulted trends toward ultimate indoor-outdoor living.

Why stop here? As the technology evolved and we wanted more than visual access to outdoor space, the smaller sliding glass and French doors became obsolete. Now with updated HVAC systems and efficient climate control “smart” systems, homeowners want the line between the interior and exterior to blur, if not disappear altogether. When properly planned, sliding glass doors now means sliding and stacking into the wall or a pocket. Branded accordion and folding doors mean you can connect seamlessly with your outdoors. Outdoor dining, cooking, and, if space allows, a pool and activity-laden rear yards are the design trends owners seek.

ZEN SANCTUARY

“My home is my sanctuary” is an old adage that still rings true. With changing family structures in working and schooling habits following the pandemic, just being home is not enough. Many people are seeking a retreat and are making the Owner’s Suite their sanctuary. Isolated from other bedrooms, they sometimes are even on a separate level of multi-story homes. Behind the bedroom door, owners are recreating their favorite hotel suite experiences and rooms upwards of 300 SF. A separate sleeping chamber includes fireplaces, a breakfast bar, lounging, and TV areas. The adjoining ensuite luxury five-piece bath, lots of natural light, a steam spa, soaking tubs, and a large multi-spray shower. Those with even more square footage and budgets have separate toilet compartments, too.

TRENDING

Our design article was thought to take a first-quarter 2023 snapshot of real estate design trends ahead of the April to October buying market. Why should we only care about what the industry thinks when we have real-time experts in and around the industry to help us navigate trends? I thought our readers might find it more interesting if I offered more than my professional design opinion but invited others to discuss a few design trends that we see continuing in 2023. I recently contacted a few realtors and industry professionals to discuss the common thread that drives industry trends for home buyers.

Clea Jones-Burpee is a business owner and savvy realtor with Paradigm Realty in Las Vegas. Sina Harris, of Macken Realty, lives in Fort Lauderdale, along with her builder husband Mike of Good News Development, a frequent Vegas visitor planning to buy here. We also spoke with Stacie Young, ASID, Owner of Innovative Kitchens, LLC, a custom cabinet company. For someone who sees it all, Aeon Jones is a professional photographer and owner of AVIA Media Group, a real estate design and Photography Company.

What we found was no matter what the price range, Kitchens and Baths, Master Bedrooms, or Owner’s Suites, and particularly in the Las Vegas market, outdoor amenities ranked high up on the list of home trends at every price point.

ZEN SANCTUARY

“My home is my sanctuary” is an old adage that still rings true. With changing family structures in working and schooling habits following the pandemic, just being home is not enough. Many people are seeking a retreat and are making the Owner’s Suite their sanctuary. Isolated from other bedrooms, they sometimes are even on a separate level of multi-story homes. Behind the bedroom door, owners are recreating their favorite hotel suite experiences and rooms upwards of 300 SF. A separate sleeping chamber includes fireplaces, a breakfast bar, lounging, and TV areas. The adjoining ensuite luxury five-piece bath, lots of natural light, a steam spa, soaking tubs, and a large multi-spray shower. Those with even more square footage and budgets have separate toilet compartments, too.

TRENDING

Our design article was thought to take a first-quarter 2023 snapshot of real estate design trends ahead of the April to October buying market. Why should we only care about what the industry thinks when we have real-time experts in and around the industry to help us navigate trends? I thought our readers might find it more interesting if I offered more than my professional design opinion but invited others to discuss a few design trends that we see continuing in 2023. I recently contacted a few realtors and industry professionals to discuss the common thread that drives industry trends for home buyers.

Clea Jones-Burpee is a business owner and savvy realtor with Paradigm Realty in Las Vegas. Sina Harris, of Macken Realty, lives in Fort Lauderdale, along with her builder husband Mike of Good News Development, a frequent Vegas visitor planning to buy here. We also spoke with Stacie Young, ASID, Owner of Innovative Kitchens, LLC, a custom cabinet company. For someone who sees it all, Aeon Jones is a professional photographer and owner of AVIA Media Group, a real estate design and Photography Company.

What we found was no matter what the price range, Kitchens and Baths, Master Bedrooms, or Owner’s Suites, and particularly in the Las Vegas market, outdoor amenities ranked high up on the list of home trends at every price point.

LOWER-PRICED RANGE HOMES

Stacie Young ”Currently, in the Las Vegas market, there is very little available for $250,000 and less; nationwide, there may be more inventory in this budget. As a starter home, my clients want the most “Bang for their buck.” Although an open-concept floor plan may be desirable, homeowners can seldom invest in removing walls at this budget. This puts the focus front & center with the designer as they are now challenged to create an open feel by incorporating smaller-scale appliances and furnishings so that the smaller footprint is not overtaken by huge items. Sometimes, just by eliminating a peninsula and incorporating an island on wheels, we can make the space feel more open without breaking the budget.”

Sina Harris “I just recently read an article from NAR that stated first-time home buyers are vanishing due to high-interest rates and inflation with home prices. The first-time home buyer’s market dropped to 26% over the past year. In the past first-time home buyers made up 40% of the home-buying market. For the past 2 to 3 years, this has impacted first-time home buyers and buyers who want to upgrade or relocate. Las Vegas is still one of the more affordable cities in the country that many buyers from all over the country are moving to. I think due to the state of the economy and real estate market, buyers’ expectations have lowered.”

Clea Jones-Burpee “Buyers searching for homes priced at $250,000 or below are typically first-time homeowners prioritizing affordability above all else. In the price range, it is also common for investors to purchase these homes and renovate them by replacing features such as flooring and appliances with popular options like light gray or neutral painted walls, laminate, grey (imitation plank wood) flooring, and stainless-steel appliances. These renovated homes are then sold at a higher price point for a profit. This practice is frequently observed in homes within this price range.”

When asked why she commented on the starter-priced homes, Jones-Burpee responded, “I answered the first paragraph because I get this price point request all day long! Typically, from investors looking to flip.”

MID-PRICED RANGE HOMES

Sina Harris “Home buyers in the range of $250k to $500K, currently in the Las Vegas area, can still find homes with 2 or 3 garages, some with pools, and decent square footage (SF) ranging between 1500 SF. to 2100 SF. and sometimes larger. The buyers in this price range are looking for homes with a laundry room, adequate storage space, updated lighting, modern kitchens, Energy Savers windows, and outdoor space.”

Stacie Young “This budget is probably where the vast majority of homes are in the Las Vegas Market. In the $350,000 – $500,000 budget, homeowners sometimes have extra budget to allocate some of the following items: Custom cabinetry, Built-in appliances, Open concept floor plans which may include removing non-load bearing walls, pools, water smart turf, and even outdoor kitchens. Typically, these homes range from 3-5 bedrooms and are sometimes even suited with an ensuite bath for each bedroom. Almost always, these homes will boast a beautiful powder bath where we will typically install a wall-mounted vanity or floating countertop with mood lighting and luxurious finishes to make the guests feel pampered.”

LUXURY AND UPPER-END MARKET

Sina Harris “Luxury home buyers still can find properties with more options. Luxury buyers are seeking open floor plans, large, spacious kitchens, finished outdoor spaces, water features (pools, spas, fountains, etc…), and technically updated or smart homes for properties priced in the $750K plus range.”

Stacie Young commented this is where most of her clientele falls. “The luxury market of $500,000 plus is where most of my clients fit. In this budget, homeowners have the ability to remove walls making their space open concept even if the walls are load-bearing. We also find these homeowners removing existing doors and windows and upgrading to folding or retractable window walls. High-end Custom cabinetry, built-in appliances, and luxurious shower and bath spaces are a must at this price point. These homeowners even renovate their homes to be smart homes, including but not limited to solar power, lightscapes, sound systems, security, smart controlled thermostats, and even smart controlled plumbing & tankless water heaters. Typically, these homes have 5+ bedrooms, almost always have ensuite baths, and of course, their own walk-in closets.”

In summary, these trends and more will likely continue, especially as green and streamlined living is also gaining momentum. Informed home buyers will be rewarded for doing their homework and learning trends.

Brian Thornton holds a Bachelor of Architecture and has practiced architecture, interior design, and luxury design for over four decades. He also taught Architectural Styles to Real Estate Agents as a CEU course in Maryland.