Rob's Report - June 2019

ROB'S REPORT SUMMERLIN, L AS VEGAS, & HENDERSON J U N E 2 019

1474 REIMS DRIVE

MACDONALD HIGHLANDS | $3,700,000 7,998 Square Feet | 5 Bedrooms | 7 Bathrooms | 1-Story w/Walk-Out Basement Discover a serene desert lifestyle at this custom single-story estate. Highlighted by classic craftsman style, this modern smart home sets a high standard of living in the exclusive guard gated community of MacDonald Highlands. Whether you’re sunbathing in the pool outside the walkout entertainer’s basement, relaxing in the private, main level master suite, or enjoying afternoon shade on the expansive balcony, the mountain and city views provided by this hillside setting are bound to take your breath away. Additional highlights include a generous eat-in kitchen, open plan great room, theater, and gym/game room.

#1474Reims

SOLD PROPERTIES | GATED FOR THE MONTH OF MAY 2019

HENDERSON

SUMMERLIN ADDRESS

SF

PRICE

P/SF

4,299

$800,000

$186

Canyon Crest

ADDRESS

SF

PRICE

P/SF

Seven Hills - Portofino

616 Edgebrook Drive

LAS VEGAS ADDRESS

SF 4,742

5,208

$1,650,000

$317

4,974 4,516

$1,120,000 $1,200,000

$225 $266

Sky Terrace

PRICE

P/SF

The Lakes 2808 Coast Line Court

1341 Dilevante Drive

$1,350,000

2268 Edge Ridge Court 905 Vegas View Drive

$285

*No closed sales for the month of May in Barrington, Mira Villa, Serrano, Seven Hills - Marquis

Dear Friends, The Las Vegas luxury home market is always on the cutting edge and buyers here crave the latest styles and trends. One issue that reinforces this is new build model homes. They have all the available upgrades and designer finishes, so expectations can easily be skewed. As an example let’s say that buyers view a model home with a base price of $800K. What they don’t realize is that these homes will generally sell for double the base price. So when buyers also view resale homes in the same $800K price range, they compare them to model homes that will actually cost $1.6MM. Rob Jensen Broker/President 702.521.8832

The word “dated” is the number one negative feedback we receive after viewing resale homes with qualified buyers. We’re talking about beautiful homes that are only 10-15 years old, but lack the contemporary design features and “clean look” that current buyers favor. This means that staging is critical for luxury home sellers.

Consider removing old drapes, updating light fixtures, changing paint colors, and possibly upgrading the flooring and countertops. Prudent investments in staging will always help your home sell faster and for top dollar.

If you’re a buyer looking to maximize your new home’s investment potential, it’s worth your while to interview licensed contractors and get estimates for the renovations you desire. Buyers often overestimate costs, and there’s substantial opportunity in the upscale resale home market for buyers willing to invest in their own upgrades. In fact, it’s possible to come in at a lower price per square foot than new construction – and with considerably less work.

Whether you're buying or selling, we have an experienced professional interior designer on staff. Please give us a call at 702-605-7480 and we’ll show you how we can maximize your buying or selling experience.

Sincerely,

Rob Jensen Broker / President

FOR THE MONTH OF| APRIL 2017 SOLD PROPERTIES GUARD GATED FOR THE MONTH OF MAY 2019

SUMMERLIN ADDRESS

SF

Canyon Fairways 712 Canyon Greens Drive Corta Bella 1809 Corta Bella Drive 1900 Vero Drive Country Rose Estates 9717 Heirloom Court Eagle Hills 1904 Soaring Court 9217 White Tail Drive Eagle Rock 9705 Plateau Heights Place Red Rock Country Club 1967 Cherry Creek Circle 3253 Elk Clover Street 2834 Evening Rock Street 11368 Golden Chestnut Place 3019 Red Arrow Drive 11513 Snow Creek Avenue 3415 Turtle Head Peak Drive 11366 Winter Cottage Place The Ridges 16 Garden Shadow Lane 86 Glade Hollow Drive 24 Lookout Ridge Drive 26 Midnight Ridge Drive 85 Pristine Glen Street 44 Sun Glow Lane 32 Tapadero Lane 8 Windstone Ridge Court

PRICE

P/SF

5,807

$1,662,500

$286

4,148 2,745

$880,000 $620,000

$212 $226

3,446

$492,500

$143

6,854 5,717

$1,700,000 $1,375,000

$248 $241

3,556

$710,000

$200

4,578 3,601 2,160 3,455 5,337 2,712 4,569 3,492

$1,300,000 $960,000 $595,000 $910,000 $2,300,300 $849,950 $1,450,000 $925,000

$284 $267 $275 $263 $431 $313 $317 $265

4,172 3,797 5,823 4,376 3,776 6,016 4,131 3,955

$1,575,000 $2,200,000 $2,900,000 $1,840,000 $1,415,000 $4,100,000 $1,710,000 $1,595,000

$378 $579 $498 $420 $375 $682 $414 $403

4,363 5,687 6,628

$2,100,000 $1,765,000 $1,600,000

$481 $310 $241

4,966 3,398

$1,212,450 $800,000

$244 $235

6,175

$1,450,000

$235

Tournament Hills 1529 Champion Hills Lane 1433 Iron Hills Lane 1105 Trophy Hills Drive The Vineyards 1300 Mersault Court 1509 Saintsbury Drive Willow Creek 2980 American River Lane

LAS VEGAS ADDRESS Canyon Gate 8705 Canyon View Drive 9008 Opus Drive 8916 Rainbow Ridge Drive 8725 Robinson Ridge Drive Queensridge 9433 Garnet Crown Avenue 9721 Gavin Stone Avenue 9713 Winter Palace Drive Regency at the Lakes 10016 Hidden Knoll Court

SF

PRICE

P/SF

3,591 2,347 2,747 2,887

$1,000,000 $530,000 $650,000 $519,000

$278 $226 $237 $180

3,497 3,679 7,693

$845,000 $775,000 $2,400,000

$242 $211 $312

5,295

$1,275,000

$241

Southern Highlands 3523 Alpine Lily Drive 14 Greenside Drive 54 Olympia Outlook Drive Spanish Trail 7899 Bermuda Dunes Avenue 39 Innisbrook Avenue 8211 Turtle Creek Circle

4,106 6,002 6,250

$1,250,000 $2,300,000 $2,146,155

$304 $383 $343

2,692 3,980 3,158

$630,000 $700,000 $635,000

$234 $176 $201

PRICE

P/SF

HENDERSON ADDRESS Anthem Country Club 7 Anthem Creek Circle 19 Club Vista Drive 22 Contra Costa Place 3 Haig Point Court 7 Hassayampa Trail 6 Highland Creek Drive 18 Holston Hills Road 63 Isleworth Drive 2 Isleworth Drive 27 Isleworth Drive 31 Kittansett Loop 17 Mountain Cove Court 5 Regent Park Court 28 Sankaty Circle 2 Sankaty Circle 18 Wade Hampton Trail The Fountains 2346 Dolphin Court 2227 Versailles Court 2355 Villandry Court Hillsboro Heights 183 Harvard Court 1888 Hillsboro Drive 171 Springfield Street Legacy Estates 2015 Doral Court 2028 Troon Drive MacDonald Highlands 1392 Enchanted River Drive 661 Falcon Cliff Court 1399 Foothills Village Drive 582 Lairmont Place 659 Palisade Rim Drive Seven Hills - Rapallo 1265 Imperia Drive Seven Hills - Terracina/Venezia 2606 Prego Court 1545 Villa Rica Drive 1525 Villa Rica Drive

SF 3,942 3,942 3,420 1,889 4,953 4,896 2,513 3,876 3,600 3,962 3,374 9,338 3,962 7,241 5,344 3,772

$1,400,000 $1,425,000 $775,000 $484,000 $1,000,000 $1,350,000 $560,000 $1,375,000 $1,030,000 $975,000 $975,000 $2,730,000 $875,000 $1,900,000 $1,350,000 $925,000

$355 $361 $227 $256 $202 $276 $223 $355 $286 $246 $289 $292 $221 $262 $253 $245

4,974 4,350 4,162

$1,200,000 $860,000 $925,000

$241 $198 $222

4,556 2,856 4,754

$895,000 $585,000 $890,000

$196 $205 $187

6,933 5,179

$1,395,000 $926,500

$201 $179

5,587 7,500 4,107 8,648 5,400

$1,815,000 $3,995,000 $1,250,000 $3,500,000 $3,100,000

$325 $533 $304 $405 $574

4,532

$1,600,000

$353

6,538 7,200 6,101

$2,058,000 $1,551,000 $1,425,000

$315 $215 $234

*No closed sales for the month of May in Aventura, Bellacere, Country Club Hills, Mountain Trails, The Palisades, Spanish Hills, Ten Oaks, Roma Hills.

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

FOR SALE

UNDER CONTRACT

SOLD

EXPIRED

ABS* RATE (MONTHS)

$500K-$750K

112

29

28

4

5.1

$750K-$1M

101

19

21

3

6.7

$1M-$1.5M

105

26

24

1

6

$1.5M-$2M

68

12

15

1

7.6

$2M-$2.5M

30

0

7

0

6.7

$2.5M-$3M

23

3

2

0

17.3

$3M-$4M

44

5

3

1

24.5

$4M+

69

3

1

1

144

*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), 6/1/19. 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

649

101

+2.4% over last month +20.4% over last year Month over Month

Month over Month 649

May '19

634

Apr '19 Year over Year

101

May '19 Apr '19

72

Year over Year 649

May '19 May '18

+40% over last month +20% over last year

539

101

May '19 May '18

84

2112 COUNTRY COVE COURT RED ROCK COUNTRY CLUB | $1,175,000

4,107 Square Feet | 5 Bedrooms | 5 Bathrooms | 3-Car Tandem Garage Combining eastern frontage on the first hole of the Arroyo Golf Course with western mountain views, this spacious two-story home enjoys a serene setting within the guard gated community of Red Rock Country Club.

Family is never far from the heart of the home, an open plan kitchen and great room centered around a 12-foot marble island with seating for five. Whether sitting by the fire in the central courtyard, lounging in the infinity pool out back, or taking in fairway views from the master balcony—you’ll appreciate the comfort and ease of living that this home provides.

#2112CountryCove

10742 GREY HAVENS COURT

WILLOW CREEK | $849,000

3,792 Square Feet | 5 Bedrooms | 5 Bathrooms | Two Story Located among some of the best schools, parks, shopping, and golf courses that Summerlin has to offer, this two-story home provides an inspiring lifestyle for you and your family. A neighborhood revered for its family-friendly nature, Wood Glen is a subdivision of the 24hour guard gated community of Willow Creek. This home is highlighted by a living room with vaulted ceilings, an open plan kitchen and great room, and a beautiful backyard with a pool and spa.

#10742GreyHavens

391 POLLINO PEAKS STREET THE PASEOS | $699,000

2,550 Square Feet | 3 Bedrooms | 3 Bathrooms | Two Story From the elevated slopes of Summerlin's Paseos village, enjoy panoramic city and mountain views at this upgraded two-story Lennar home in the gated community of Capistrano.

Boasting a minimalist, modern aesthetic with Paradigm waterproof laminate hardwood floors, $68,000 in sensible and stylish upgrades, and a rooftop deck capturing 360-degree views, this is a beautiful place to call home. Built in a prime location—minutes from Red Rock Canyon, Downtown Summerlin, and Red Rock Casino Resort & Spa—this community provides a perfect balance between city living and natural beauty.

#391PollinoPeaks

8912 RAINBOW RIDGE DRIVE

CANYON GATE | $549,900

1,788 Square Feet | 2 Bedrooms | 2 Bathrooms | Single-Story This single-story home in Canyon Gate—a guard gated community with an 18-hole championship golf course as its centerpiece—presents a country club lifestyle like no other.

Combining frontage on the 16th fairway with an elevated rear yard, this home enjoys a serene atmosphere overlooking the lush golf course. Whether you’re entertaining in the dining room, socializing in the formal living room, or lounging on the sundeck beside the pool & spa, you’ll cherish the picturesque greenery of the landscape.

#8912RainbowRidge

2854 DOVE RUN CREEK DRIVE

RED ROCK COUNTRY CLUB $799,000

2,712 Square Feet | 3 Bedrooms | 4 Bathrooms | Single-Story 2854 Dove Run Creek Drive presents the rare opportunity to own a single-story home with unobstructed frontage on the Arroyo Golf Course, one of two Arnold Palmer-designed golf courses in the guard gated community of Red Rock Country Club. Built on a lot elevated above the 15th tee box, this home boasts double fairway views. Whether you’re dining in the eat-in kitchen, entertaining in the living room, or enjoying a drink from the great room’s wet bar and wine refrigerator, the outside beauty pours in through picture windows.

#2854DoveRun

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

2980 AMERICAN RIVER LANE JUST SOLD IN WILLOW CREEK | $1,450,000

robjensenco

robjensen.com

702.605.7480