Rob's Report - January 2021

ROB'S REPORT

SUMMERLIN, L AS VEGAS, & HENDERSON JANUARY 2021

46 MOONFIRE DRIVE

#46Moonfire

THE RIDGES | $2,399,000

4,618 Square Feet | 4 Bedrooms | 5 Bathrooms | Semi-Custom Two-Story Discover exceptional mountain views, superior privacy, and unparalleled amenities at this highly upgraded semi-custom two-story in The Ridges—an ultra-chic guard gated community on the west side of Las Vegas.

Decked out in the finest desert contemporary/modern finishes, this William Lyon estate boasts smart home integration, an expansive great room with a 378-bottle wine wall, a gourmet kitchen with Thermador appliances, and a zero-edge pool, spa, and wet deck like no other.

Dear Friends, Happy New Year! Despite the pandemic, the Las Vegas valley’s luxury real estate market was on fire throughout the last half of 2020. For homes priced between $1 million and $2 million, there were 597 sales in 2020 compared to 450 in 2019. This is an increase of 32.7%. However, the impressive numbers don’t stop there. Sales were up 60.5% year over year for homes priced between $2 million and $3 million. Homes priced over $4 million saw over twice as many sales as there were in 2019!

46 MOONFIRE DRIVE | THE RIDGES

Compared to high-rise, mid-rise, and townhome sales in 2020, single-family homes had the biggest surge, particularly in the $4 million+ range. This makes sense considering that buyers relocating from California and other states with rising income tax had the most to gain by moving here. Now more than ever, people are realizing the importance of home—and the amenities needed to teach their children there, to stay fit while gyms are closed, to work from home, and to unwind without traveling for vacation.

The recent influx of out-of-state buyers has been beneficial to sellers in our market of expertise: guard gated single-family real estate in Summerlin, Las Vegas, and Henderson. Usually, the holidays are much slower, but like much of 2020, December was quite robust. Closed sales in the guard gated market were up 9% over November and 119% year over year. The number of homes under contract as of 12/31 was down 22.6% from November, reflecting a seasonal slowdown, but pending sales were still up 52.5% year over year.

Our real estate brokerage sold 10 homes in just the 10 days leading up to Christmas!

As more and more luxury buyers across the country realize the value of moving to Las Vegas, the demand for homes with high-end amenities and world-class views is likely to increase. Paired with the continued decline in inventory (down 17.3% over November), this will make the market even more competitive in 2021.

In times like these, sellers often make the mistake of thinking that any agent will do. However, despite 2020’s hot market, many luxury listings either expired or achieved lackluster results. To avoid the same fate, you need a team of real estate professionals with a proven track record. If you’re looking to sell your home—or if you have any friends or family relocating to Las Vegas—give us a call today. We’d be happy to provide our expertise to you.

Sincerely, Rob Jensen Broker / President 702.605.7480 B.0143770.LLC

SOLD PROPERTIES | GUARD GATED | DECEMBER 2020 ADDRESS

SF

PRICE

ADDRESS

P/SF

10332 Summit Canyon Drive

9,953

$2,650,000

708 Sir James Bridge Way (SS)

2,737

$620,000

$227

4,468

$1,000,000

$224

1013 Windfair Village Street

3,417

$547,000

$160

5,188

$787,500

$152

5,303

$1,575,000

$297

305 Windfair Court

3,150

$925,000

$294

Regency at the Lakes

3,217

$960,000

$298

Southern Highlands 3 Augusta Canyon Way

8,037

$4,100,888

$510

30 Augusta Canyon Way

10,768

$4,373,000

$406

19 Eagles Landing Lane

18,787

$5,450,000

$290

9,245

$2,900,000

$314

9921 Fox Springs Drive

Country Club Hills 9012 Thornbury Lane 9600 Coral Rose Court

2,417

$560,000

$232

2017 Scarlet Rose Drive

3,128

$704,000

$225

The Palisades 4,839

$1,875,000

$387

Red Rock Country Club

LAS VEGAS

Country Rose Estates

116 Royal Ascot Drive

16 Olympia Summit Drive

6,262

$2,900,000

$463

20 Shadow Canyon Court

10,516

$5,800,000

$552

11828 Waterford Castle Court

3,381

$662,500

$196

11998 Whitehills Street

3,220

$745,000

$231

1978 Alcova Ridge Drive (REO)

3,999

$810,000

$203

5,122

$1,565,000

$306

11590 Evergreen Creek Lane

4,121

$1,600,000

$388

Tuscan Cliffs

11291 La Madre Ridge Drive

2,160

$675,000

$313

11298 San Arezzo Place

4,811

$980,000

$204

4007 Villa Rafael Drive

4,893

$1,023,676

$209

11570 Morning Grove Drive

5,555

$1,900,000

$342

11594 Morning Grove Drive

5,555

$1,733,500

$312

2168 Orchard Mist Street

5,224

$1,650,000

$316

53 Gulf Stream Court

4,492

$818,000

$182

82 Innisbrook Avenue

9,603

$2,025,000

$211

81 Princeville Lane

5,115

$1,280,000

$250

4,794

$1,120,000

$234

Spanish Trail

11415 Sandstone Ridge Drive

2,724

$855,000

$314

2490 Turtle Head Peak Drive

3,658

$1,265,000

$346

3181 Turtle Head Peak Drive

3,085

$1,150,000

$373

11358 Winter Cottage Place

3,496

$1,550,000

$443

2,292

$840,000

$366

12 Anthem Pointe Court

7,728

$2,500,000

$323

4 Ayden Drive

7,291

$2,295,000

$315

Ten Oaks 1704 Silver Oaks Street Anthem Country Club

3012 Dusky Willow Lane 11270 Emory Oak Drive

5,230

$1,500,000

$287

3020 Raywood Ash Drive

3,869

$1,300,000

$336

The Ridges

20 Brays Island Drive

3,225

$915,000

$284

28 Club Vista Drive

3,942

$1,200,000

$304 $259

46 Crested Cloud Way

9,740

$6,500,000

$667

3 Desert Highlands Drive

3,062

$793,000

10 Drifting Shadow Way

6,579

$2,700,000

$410

56 Fountainhead Circle

2,513

$725,000

$288

51 Drifting Shadow Way

9,153

$4,325,000

$473

12 Isleworth Drive

3,952

$1,250,000

$316

14,464

$14,500,000

$1,002

7 Falcon View Court 4221 Garnet Hills Court

3,798

$2,350,000

$619

5 Gemstar Lane

3,562

$1,300,000

$365

8 Pine Hollow Drive

3,374

$990,000

$293

4 Starbrook Drive

3,863

$1,625,000

$421

33 Stonemark Drive

3,848

$775,000

$201

3,412

$785,000

$230

16 Hawk Ridge Drive

8,150

$4,700,000

$577

The Fountains

44 Hawk Ridge Drive

11,113

$5,700,000

$513

2317 Prometheus Court

14 Midnight Ridge Drive

4,405

$1,850,000

$420

Hillsboro Heights

14 Night Song Way

6,329

$3,200,000

$506

185 Harvard Court

3,567

$600,000

$168

37 Owl Ridge Court

4,888

$2,150,000

$440

1880 Woodhaven Drive

3,912

$800,000

$204

48 Pristine Glen Street

4,172

$1,257,000

$301

7 Sable Ridge Court

13,255

$7,320,000

$552

5,965

$1,315,000

$220

4 Soaring Bird Court

11,211

$10,000,000

$892

47 Soaring Bird Court

7,824

$3,600,000

$460

14,486

$11,250,001

$777

9,508

$5,950,000

$626

76 Sun Glow Lane

5,032

$3,275,000

$651

9017 Grove Crest Lane

9,105

$3,500,000

$384

1425 Iron Hills Lane (REO)

7,857

$2,150,000

$274

Tournament Hills

189 Inveraray Court MacDonald Highlands 750 Dragon Ridge Drive 1485 Foothills Village Drive 1505 Foothills Village Drive

8,715

$2,100,000

$241

569 Lairmont Place

7,820

$3,400,000

$435

1187 Macdonald Ranch Drive 1359 Quiet River Avenue

The Vineyards 1225 Muscato Court

Legacy Estates

HENDERSON

SUMMERLIN

30 Greenside Drive

11565 Evergreen Creek Lane

Reverence

4,610

$1,175,000

$255

Willow Creek 2994 Kedleston Street

4,612

$1,250,000

$271

10715 Rivendell Avenue

3,425

$739,000

$216

Canyon Gate

LAS VEGAS

P/SF $262

$266

Corta Bella 1817 Dolce Drive

PRICE $710,000

2,711

Bellacere 10000 Summit Canyon Drive

SF

813 Sir James Bridge Way

18,082

$5,000,000

$277

5,037

$1,200,000

$238

659 Scenic Rim Drive

8,645

$6,050,000

$700

426 Stone Lair Court

5,575

$1,250,000

$224

783 Bolle Way

5,524

$1,500,000

$272

794 Bolle Way

3,865

$915,000

$237

Roma Hills

8705 Canyon View Drive

3,591

$1,258,000

$350

769 Latina Court

5,375

$1,400,000

$260

2104 Lookout Point Circle

1,675

$400,000

$239

773 Tozzetti Lane

6,148

$1,570,000

$255

9037 Opus Drive

2,347

$620,000

$264

Seven Hills - Rapallo

Queensridge

5,486

$1,600,000

$292

6,188

$1,800,000

$291

9604 Chalgrove Village Avenue

3,417

$685,000

320 Onyx Crest Street

3,341

$800,000

$239

11,405

$3,575,000

$313

2614 Matrino Circle

9,061

$6,000,000

$662

9424 Queen Charlotte Drive

3,798

$750,000

$197

2674 Mirabella Street

6,197

$1,496,500

$241

9809 Royal Lamb Drive

2,859

$680,000

$238

1363 Opal Valley Street

5,624

$1,525,000

$271

$209

1377 Ruby Sky Court

4,964

$1,440,000

$290

1531 Villa Rica Drive

7,353

$1,750,000

$238

9801 Orient Express Court

1001 Secret Garden Street

3,417

$715,000

$200

1278 Imperia Drive 1317 Imperia Drive

No closed sales for the month of December in Aventura, Canyon Fairways, Eagle Hills, Eagle Rock, Mountain Trails, Spanish Hills,

Seven Hills - Terracina/Venezia

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

FOR SALE

UNDER CONTRACT

SOLD

EXPIRED

ABS* RATE (MONTHS)

$500K-$749K

42

30

36

2

1.8

$750K-$999K

52

36

26

3

3.3

$1M-$1.49M

55

32

23

2

3.9

$1.5M-$1.99M

46

21

18

2

3.9

$2M-$2.49M

20

9

7

4

4.1

$2.5M-$2.99M

13

3

6

1

3.2

$3M-$3.99M

22

11

6

1

6.6

$4M+

53

9

18

3

5.4

*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), 12/31/20.

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 | DECEMBER

DEC '20

CLOSED SALES

MONTHLY & YEARLY

12/31/20

UNDER CONTRACT

12/31/20

ACTIVE LISTINGS

140 151 454

Over NOV '20

+9%

-22.6%

-17.3%

Over DEC '19

+119%

+52.5%

-14.7%

NOV '20

128

195

549

DEC '19

64

99

532

#63PanoramaCrest

63 PANORAMA CREST AVENUE THE RIDGES | $2,150,000

4,013 Square Feet | 3 Bedrooms | 5 Bathrooms | Semi-Custom Single-Story Majestically perched on a .43-acre lot, elevated above the undulating greens of Bear’s Best Las Vegas, this single-story home in The Ridges presents unobstructed Strip and golf course views—a rare find in Las Vegas.

The unique position of this lot grants this home one of the largest yards in the neighborhood—and one of the best vantage points in the community. Whether you’re swimming in the 40’ pool, luxuriating in the elevated spa, or lounging on the sun deck, you can always see the Strip beyond the 16th green.

#1768Amarone

1768 AMARONE WAY ROMA HILLS | $1,650,000

6,357 Square Feet | 6 Bedrooms | 7 Bathrooms | Custom Two-Story A custom home that has it all, this two-story estate presents a rare lifestyle in Roma Hills, a 24-hour guard gated community located in the quiet foothills of Green Valley. In this serene setting, surrounded by incredible mountain views, discover over $411,000 in upgrades—including full built-ins, solar panels, and a Control4 smart home system that controls the lighting and AV equipment. From the impressive interior spaces designed for entertaining to the private and tranquil yard with a heated Pebble Tec pool and spa, there’s a lot to love about this property.

#809Aquitaine

809 AQUITAINE COURT QUEENSRIDGE | $1,200,000

4,974 Square Feet | 4 Bedrooms | 5 Bathrooms | Two-Story Your private oasis awaits at this two-story home in Queensridge South—a 24-hour guard gated community revered for its lush landscaping, security, and serenity. Situated on a generous cul-de-sac lot and tastefully landscaped at a cost of over $115,000, the verdant backyard and sizable side yard are a rare sight to behold in Las Vegas. From the covered patio, stone paths lead through mature trees to the Ozzie Kraft-designed lagoon pool, where you can sunbathe in the beach-style entry or soak in the secluded waterfall feature spa.

10785 W. Twain Avenue, Suite 110 Las Vegas, NV 89135 B.0143770.LLC

SOLD $4,325,000 51 DRIFTING SHADOW WAY THE RIDGES

SOLD $1,550,000

SOLD $785,000

11358 WINTER COTTAGE PLACE

9208 TESORAS DRIVE UNIT 201

RED ROCK COUNTRY CLUB

MIRA VILLA

robjensenco

robjensen.com

702.605.7480