Rob's Report - May 2020

ROB'S REPORT

SUMMERLIN, L AS VEGAS, & HENDERSON M AY 2 0 2 0

8 GARDEN RAIN DRIVE

#8GardenRain

THE RIDGES | $1,278,000

4,172 Square Feet | 4 Bedrooms | 5 Bathrooms | 3-Car Garage A rare lifestyle awaits at this modern two-story home in The Ridges, which is currently vacant and easy to show. An ultra-chic guard gated community, The Ridges houses the city’s elite and is situated within minutes of Summerlin’s best schools, shopping, and dining. Outfitted with over $150,000 in upgrades, this home is as spacious as it is stylish. All four bedrooms enjoy en suite bathrooms and walk-in closets, including the lower level guest suite which could double as an office. From the master bedroom, master balcony, and second bedroom, you can take in spectacular, panoramic views of the Strip, the city lights, and the mountains beyond.

Dear Friends, As Las Vegas moves into Phase One on the path to reopening, the luxury real estate market is following suit and is seeing movement. At the start of the pandemic, our phones were quiet; our team went days without a showing. Since the announcement of Phase One, however, we’ve put three homes into contract. Buyers are settling into a different way of shopping for a new home, just as they have for groceries and other essentials. Our team has worked diligently to create a safe home shopping experience that still includes the same level of service our buyers and sellers appreciate.

April’s number in the guard-gated sector fell by 62% from March to 60% from 2019.

Given the unprecedented nature of the pandemic, even this type of decline is not surprising. It is important to remember that April was a time of adjustment for people in all aspects of life.

Buyers are still shopping, but their numbers have declined. There has also been a small bump in home listings, though it’s still down from last year. These two factors mean it’s a more competitive market for sellers. Fortunately, our team can work with you to price and stage your home, so it remains a top option for buyers.

As we move forward, I expect home shopping activity to increase. Like most areas of life, buying and selling real estate will look a little different than before. As the Federal Reserve works to keep the economy and stock market afloat, my team is developing ways to ease a new set of concerns for sellers and buyers. I believe that in times of crisis, there are opportunities for positive change.

If you have questions, please do not hesitate to reach me on my cell 702-521-8832.

Wishing you and your family good health.

Sincerely, Rob Jensen Broker / President B.0143770.LLC

FOR THE MONTH OF| APRIL 2017 SOLD PROPERTIES GUARD GATED FOR THE MONTH OF APRIL 2020

SUMMERLIN ADDRESS

SF

HENDERSON PRICE

P/SF

ADDRESS Anthem Country Club 15 Braelinn Drive 31 Chalet Hills Terrace 1 Fallows Fire Court 11 Sankaty Circle The Fountains* Hillsboro Heights 1875 FairďŹ eld Terrace Legacy Estates* MacDonald Highlands* Roma Hills 1761 Harpsichord Way Seven Hills - Rapallo* Seven Hills - Terracina/Venezia 1383 Ruby Sky Court

Aventura* Bellacere* Canyon Fairways* Corta Bella* Country Club Hills* Country Rose Estates* Eagle Hills 9201 Golden Eagle Drive Eagle Rock 432 Proud Eagle Lane Mountain Trails* The Palisades* Red Rock Country Club 11433 Glowing Sunset Lane The Ridges 4154 Bronze Ridge Street 20 Cross Ridge Street 43 Morning Glow Lane

5,291

$1,225,000

$232

3,666

$690,000

$188

4,080

$1,200,000

$294

5,047 4,404 7,048

$2,350,000 $1,325,000 $4,500,000

$466 $301 $638

3,888

$1,349,000

$347

Tournament Hills* The Vineyards 10725 Beringer Drive Willow Creek*

LAS VEGAS ADDRESS Canyon Gate* Queensridge 304 Covent Garden Court 9728 Foxtrap Avenue 9421 Garnet Crown Avenue 9940 Orient Express Court Regency at the Lakes* Southern Highlands 27 Greenside Drive 11747 Oakland Hills Drive 19 Park Meadow Court Spanish Hills* Spanish Trail 48 Innisbrook Avenue (REO) Ten Oaks*

SF

PRICE

P/SF

3,932 2,733 3,798 9,982

$870,000 $550,375 $750,000 $4,100,000

$221 $201 $197 $411

6,144 5,083 6,107

$1,900,000 $2,527,378 $1,550,000

$309 $497 $254

6,897

$977,550

$142

*No closed sales for the month of April

REO - Bank Owned Foreclosure

SF

PRICE

P/SF

2,339 4,025 2,072 4,812

$650,000 $1,080,000 $525,000 $1,520,000

$278 $268 $253 $316

3,135

$625,000

$199

4,897

$1,560,000

$319

4,612

$1,300,000

$282

HOW’S THE MARKET? | GUARD GATED SALES STATISTICS - APRIL PRICE RANGE

FOR SALE

UNDER CONTRACT

SOLD

EXPIRED

ABS* RATE (MONTHS)

$500K-$750K

117

23

9

2

7.4

$750K-$1M

107

18

6

2

11.9

$1M-$1.5M

77

14

7

6

6.7

$1.5M-$2M

64

7

4

1

23.7

$2M-$2.5M

37

2

1

1

13

$2.5M-$3M

33

5

1

2

25.3

$3M-$4M

26

8

0

1

17

$4M+

60

3

2

3

42

*ABS(orption) rate is the length of time (in months) that it takes to sell current inventory. This is calculated by adding homes FOR SALE and homes UNDER CONTRACT and dividing the total by the average number of monthly sales for the last 2 months. Source: Multiple Listing Service (MLS), 5/1/20. We add pending and contingent sales to the active listings; otherwise, they'd be counted twice as sales or might even fall out of escrow.

MARKET TRENDS |

MONTHLY & YEARLY

ACTIVE LISTINGS

CLOSED SALES

601

+3.4% -5.2%

Mar '20

over last year

Apr '19

over last month over last year

Month over Month 601 581

Year over Year Apr '20

-62% -60%

over last month

Month over Month Apr '20

30

Apr '20

30 78

Mar '20 Year over Year

601 634

Apr '20 Apr '19

30 75

#9805Highridge

9805 HIGHRIDGE DRIVE MOUNTAIN TRAILS | $1,287,080 5,027 Square Feet | 5 Bedrooms | 6 Bathrooms | Two-Story This custom two-story estate with casita boasts adobe-inspired architecture and a tranquil setting within Mountain Trails—a 24-hour guard gated community in The Trails Village of Summerlin. Situated on a half-acre lot. Multiple doors open to both the serene desert garden out front and the generous patio overlooking the pool, spa, and putting green out back. Additional highlights include a main level master suite, an upgraded kitchen with stainless GE Monogram appliances, and a living room with a wet bar and built-in sound.

#12115KiteHill

12115 KITE HILL LANE THE PASEOS | $788,888 3,413 Square Feet | 4 Bedrooms | 4 Bathrooms | Two-Story An incredible lifestyle awaits at this two-story home in Andalusia, a gated community in The Paseos. Nestled between the Red Rock Canyon National Conservation Area and the 215 freeway, this Summerlin Village provides easy access to nature without sacriďŹ cing the convenience of suburban living. Highlights of this home include a private backyard with a solar-heated pool and spa, a mountain view master suite, and easy access to a trail system connecting multiple schools and parks.

TEAM SPOTLIGHT!

Karen Kinney REALTOR, GRI, CRS

With a strong background in sales, Karen Kinney is a Certified Residential Specialist (CRS), a Graduate of the National Real Estate Institute (GRI), and brings over 30 years of real estate expertise to the team.

She prides herself on having strong interpersonal communication skills and an innate desire to achieve whatever goals are set before her.

A native of New York, Karen started her real estate career on the East Coast after studying at the NY State Realtors Institute and the Gallinger Better Homes and Gardens Real Estate Institute. She also earned an Associate of Social Sciences from the Powelson College of Business. Before moving to Las Vegas in 1993, she worked with Gallinger Real Estate as a top producing agent and class instructor for new agents.

Karen built her home in Red Rock Country Club 17 years ago but has lived in Summerlin for over 26 years. As a longtime resident, she knows Summerlin’s neighborhoods, homes, parks, schools, and other amenities like the back of her hand. Her experience in the area is an invaluable resource for our clients.

Above all else, Karen values time with her family and friends. When she’s not working, she likes to volunteer in the community and attend dinners and musicals with her family. Karen also has a passion for decorating and strives to follow the Golden Rule at all times.

When asked what clients can expect of her, Karen said, “When someone tells me that they want something, I listen closely to what they say and try my best to satisfy their needs.”

10785 W. Twain Avenue, Suite 110 Las Vegas, NV 89135

SOLD!

1383 RUBY SKY COURT

SOLD IN SEVEN HILLS VENEZIA - $1,300,000

SOLD!

10725 RIVENDELL AVENUE SOLD IN WILLOW CREEK - $740,000

robjensenco

robjensen.com

702.605.7480