Rob's Report - March 2022

Rob's Report SUMMERLIN, LAS VEGAS, & HENDERSON

11447 MORNING GROVE DRIVE R E D R O C K C O U N T RY C L U B

$3,498,000 | 6,368 SF 5 Bedrooms, 6 Bathrooms

Discover breathtaking mountain, golf course, and Las Vegas Strip views in the 24-hour guard-gated community of Red Rock Country Club. Securely located behind a secondary gate in The Vistas and built on an elevated lot overlooking the 7th hole of the Arroyo golf course, this stunning property enjoys an added level of privacy with single-story neighbors on both sides. Two upper-level suites have been added to the original design, so you can enjoy extra space and elevated views—all while maintaining a single-story, indoor/outdoor lifestyle. Additional highlights include a generous pool and zeroedge spa, a Tesla charger in the garage, and plenty of smart home capabilities.

MARCH 2022

F E B R U A RY 2 0 2 2

Sold Properties COMMUNITY

ADDRESS

Guard-Gated

SF

PRICE

P/SF

3,372

$1,242,900

$369

SUMMERLIN Aventura

113 Tesoro Drive

Canyon Fairways 801 Canyon Greens Drive

1 1 4 4 7 M O R N I N G G R O V E D R I V E | R E D R O C K C O U N T RY C L U B

properties listed as “Coming Soon” with one photo are selling before becoming “Active” in the MLS. It’s not surprising that

$370

9044 Opus Drive

3,029

$915,000

$302

8805 Robinson Ridge Drive

4,234

$1,180,000

$279

Country Rose Estates

2108 Timber Rose Drive

2,289

$675,000

$295

2308 Timberline Way

2,747

$1,050,000

$382

Eagle Rock

416 Proud Eagle Lane

3,666

$1,035,000

$282

309 Covent Garden Court

3,435

$1,250,000

$364

Mesa Ridge

5293 Fading Sunset Drive

4,725

$2,875,000

$608

9824 Miss Peach Avenue

2,859

$725,000

$254

Red Rock Country Club

1946 Alcova Ridge Drive

3,424

$1,100,000

$321

304 Queens Gate Court

4,693

$1,200,000

$256

2006 Country Cove Court

4,107

$1,825,000

$444

3143 Elk Clover Street

4,287

$2,199,000

$513

11454 Glowing Sunset Lane

3,655

$1,620,000

$443

11548 Snow Creek Avenue

2,325

$1,750,000

$753

2922 Soft Horizon Way

3,455

$1,150,000

$333

2651 Orange Sky Lane

2,852

$1,495,000

$524

2960 Reverence Heights Ln

5,016

$1,665,000

$332

3071 The Peaks Lane

3,703

$2,250,000

$608

70 Hawk Ridge Drive

5,856

$4,000,000

$683

57 Pristine Glen Street

4,172

$1,875,000

$449

55 Promontory Ridge Drive

8,388

$5,850,000

$697

Reverence

4 Soaring Bird Court

11,211

$12,500,000 $1,115

The Summit Club 11665 Summit Club Dr, #202

3,870

$10,500,000 $2,713

Willow Creek

3015 Lullingstone Street

4,016

$1,350,000

$336

10788 Rivendell Avenue

3,792

$1,000,000

$264

Queensridge

Southern Highlands

Tuscan Cliffs

Anthem Country Club

have a single image to look at? These are lost opportunities. Photos, 3D tours, and property videos should all be complete before a property shows up in the MLS. This is the only way to drive the highest amount of interest in your home, ultimately netting you the best price and terms (which may include a free leaseback while you find a place to move). We get it; when sellers call us, they usually want their home sold yesterday. However, false starts are costly.

The Fountains

At the Rob Jensen Company, we know how to get it right and put a big smile on your face. Please give us a call and let us

MacDonald Highlands

know what we can do for you.

Sincerely,

9609 Royal Lamb Drive

3,417

$780,000

$228

3523 Alpine Lily Drive

4,106

$2,125,000

$518

61 Grand Masters Drive

3,904

$1,300,000

$333

12047 Oakland Hills Drive

3,703

$2,000,000

$540

23 Olympia Canyon Way

6,548

$3,600,000

$550

28 Olympia Chase Drive

6,250

$3,250,000

$520

11806 Weybrook Park Drive

2,172

$923,000

$425

4085 San Franchesca Court

5,609

$2,095,000

$374

22 Anthem Pointe Court (SS)

8,414

$1,750,000

$208

HENDERSON

idea how nice the home is because there are limited, poor-quality pictures? What about the out-of-state buyers who only

Monica Nalbantoglu Director of Sales 702.605.7480 S. 179807

$1,060,000

$331

highly motivated buyers make appointments to see homes like this immediately, but what about the buyers who have no

Rob Jensen Broker / President 702.605.7480 B.143770

2,865

$434

rates are expected to rise throughout 2022, which will lead to the market softening a bit. Remember, supply and demand

Given the strength of the market, we’re seeing many situations where sellers are leaving money on the table. For example,

2208 Glenbrook Way

LAS VEGAS Canyon Gate

$3,300,000

Even with the slowdown, we expect to see appreciation in 2022 due to the fact that inventory will remain low. Interest

buyers choosing to get a mortgage, therefore lowering demand.

P/SF

$1,910,000

The Ridges

influence pricing. Low supply is unlikely to change much, but rising interest rates will lower the purchasing power of the

PRICE

7,605

the last year. Yes, inventory is still low, but now prices are substantially higher, and many homeowners are continuing to push the envelope with unrealistic pricing.

SF

5,766

Recent data shows that the market is cooling off. In February 2021, there were 178 guard-gated homes for sale compared 38.2%—from 220 in 2021 to 136 in 2022. This can be attributed to the double-digit gains in appreciation we’ve seen over

ADDRESS

9260 Tournament Canyon Dr

Dear Friends,

to 170 in February 2022, a decrease of only 4.5%. However, the number of pending sales at the end of February was down

COMMUNITY

31 Braelinn Drive

1,833

$750,000

$409

44 Brandermill Drive

2,076

$867,000

$418

11 Douglas Grove Road

2,614

$866,000

$331

11 Emerald Dunes Circle

2,072

$825,000

$398

110 Emerald Dunes Circle

1,889

$760,000

$402

16 Emerald Dunes Circle

2,072

$735,000

$355

3 Fountainhead Circle

2,043

$755,000

$370

11 Holly Tree Court

3,592

$1,350,000

$376

19 Isleworth Drive

3,942

$1,650,000

$419

59 Isleworth Drive

4,127

$1,600,000

$388

15 Knob Oak Drive

3,085

$1,780,000

$577

25 Stonemark Drive

2,600

$900,000

$346

2333 Prometheus Court

7,064

$2,075,000

$294

2271 Trafalgar Court

5,632

$1,650,000

$293

573 Lairmont Place

6,000

$3,718,270

$620

663 Palisade Rim Drive

4,999

$4,000,000

$800

442 Serenity Point Drive

3,340

$1,795,000

$537

387 Solitude Peak Lane

3,024

$2,800,000

$926

394 Tranquil Peak Court

3,034

$1,550,000

$511

3,593

$1,475,000

$411

Seven Hills 1375 Opal Valley Street Terracina/Venezia No closed sales for the month of February in Bellacere, Corta Bella, Country Club Hills, Eagle Hills, Mountain Trails, The Palisades, Tournament Hills, The Vineyards, One Queensridge Place, Regency at the Lakes, Spanish Hills, Spanish Trail, Ten Oaks, Ascaya, Hillsboro Heights, Legacy Estates, Roma Hills, and Seven Hills - Rapallo

F E B R U A RY 2 0 2 2

How's The Market?

PRICE RANGE

Guard-Gated Sales Statistics

FOR SALE

UNDER CONTRACT

SOLD

EXPIRED

ABS* RATE (MONTHS)

$500K-$749K

10

11

17

0

1.1

$750K-$999K

15

27

24

0

2.3

$1M-$1.49M

24

31

21

0

2.7

$1.5M-$1.99M

20

12

13

0

3.0

$2M-$2.49M

22

20

7

1

6.5

$2.5M-$2.99M

12

5

2

0

5.7

$3M-$3.99M

13

12

4

1

7.1

$4M+

54

18

5

1

10.3

*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), 2/28/22. 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

UNDER CONTRACT

CLOSED SALES

170

136

93

OVER JAN '22

+4.3%

-4.2%

+9%

OVER FEB '21

-4.5%

-38.2%

-24%

FEB 2022

2/28/22

2/28/22

F E B R U A RY ' 2 2

JAN 2022

163 1/31/22

142 1/31/22

J A N U A RY ' 2 2

FEB 2021

178

220

122

2/28/21

2/28/21

85

F E B R U A RY ' 2 1

11447 MORNING GROVE DRIVE

8 1 0 5 M E A N T M O R E AV E N U E C A S T L E G AT E $998,000 | 3,130 SF 3 Bedrooms, 3 Bathrooms Single-Story

Welcome home! This single-story home is located in Castlegate, a quiet gated community in Las Vegas. Boasting a south-facing yard enveloped by fruit trees, this property enjoys exceptional privacy and all-day sunshine—whether you’re swimming in the pool, lounging on the lawn, or picking peaches, apricots, grapefruits, and oranges. Located just a few miles east of Downtown Summerlin, this community is close to everything Summerlin has to offer. Multiple dining and retail shopping options are located 10 minutes away at Boca Park and Tivoli Village.

10785 W. Twain Avenue, Suite 110 Las Vegas, NV 89135 702.605.7480 | robjensen.com

We’re the only real estate brokerage in Las Vegas that focuses exclusively on guard-gated communities.

And, just like these special places, we offer a higher level of service and protection. Because our discerning clients deserve it.

We’re able to offer this because our team is uniquely comprised of full-time, salaried professionals — all collaborating and proactively staying on top of every detail in the transaction. And all to deliver a client experience that’s more honest, more dependable, and all-around more enjoyable.

Your guide through the gates.

From left to right: Matina Wyrick, Stacey Short, Monica Nalbantoglu, Mindy Walker, Rob Jensen, Dylan Edwards, Kyle Zabelny, Andy Gorman, Max Fox robjensenco

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