Realty One Group led the way in 2019 as the top real estate brokerages in Las Vegas for market share, and Berkshire Hathaway HomeServices Properties did the same when it came to luxury sales.
The report taken from the Multiple Listing Service of the Las Vegas Realtors association and compiled by BrokerMetrics shows Realty One Group had an 8.2 percent market share compared with 8 percent for Berkshire Hathaway when it comes to the overall residential real estate market. Berkshire Hathaway closed the gap from 2018 when it had 7 percent market share compared with 9.6 percent for Realty One Group.
In 2019, Berkshire Hathaway outdistanced the rest of the market by having 20.3 percent market share of luxury transactions of $1 million or more.
By the numbers in the overall market, Realty One Group had 6,666 transactions totaling $2.19 billion. Berkshire Hathaway was second with 5,393 transactions worth $2.15 billion. Berkshire Hathaway closed the gap despite fewer sales because it averaged $399,688 per deal compared with $329,032 per transaction by Realty One.
Berkshire Hathaway was boosted by its 217 luxury transactions of $1 million or more totaling $428 million. Its average transaction was $1.97 million.
By contrast, Realty One was third in luxury transactions with 74 totaling $118 million. Its average luxury transaction was $1.78 million.
Simply Vegas ranked just ahead of Realty One in luxury transactions with 82 for an average of $1.81 million per transaction. It ranked second in the overall market with 3,074 transactions totaling $1.1 billion. It had a 4.2 percent market share.
The report showed there were 82,988 transactions, which includes sales and buyer agents on the Multiple Listing Service in 2019. They totaled $13.7 billion or $324,077 per sale. There were 85,856 transactions in 2018 with $13.1 billion in sales with an average price of $307,291. The sales volume was only $5.8 billion in 2010 after the Great Recession and reached $9 billion in 2015 and reached $10.2 billion in 2016 and $12.2 billion in 2017.
On the luxury side, there were 587 sales of $1 million or more in 2019 compared to 493 sales in 2018 as transacted on the MLS. The sales price of $1.79 million in 2019 was down from $1.81 million in 2018.
The top 10 firms in luxury transactions in 2019 controlled 55 percent of the transactions and had an average price of $1.94 million.
The others in the top 10 luxury firms included No. 4 Synergy Sotheby’s International Realty followed by Luxury Estates International, Award Realty, Luxury Homes of Las Vegas, Urban Nest Realty, Rob Jenson Co. and Coldwell Banker Premier.
In the overall market transactions beyond the top 3 of Realty One, Berkshire Hathaway and Simply Vegas is Urban Nest Realty, Coldwell Banker Premier, Signature Real Estate Group, Platinum Real Estate Professionals, Keller Williams Realty Las Vegas, eXp Realty and Keller Williams MarketPlace.