Rob's Report - June 2022

Rob's Report SUMMERLIN, LAS VEGAS, & HENDERSON

1353 ENCHANTED RIVER DRIVE MACDONALD HIGHLANDS

$1,899,000 | 5,224 SF 5 Bedrooms, 7 Bathrooms Semi-Custom Two-Story

Discover the pinnacle of family comfort at this semi-custom twostory estate, built on a 1/3-acre corner lot in the guard-gated community of MacDonald Highlands. Wrapped around a driveway with a remote-controlled gate and limestone courtyard—and serviced by multiple balconies and French doors—this Toll Brothers home was built to the highest standards with $500,000 in original upgrades.

Highlights include an entertainer’s kitchen, private guest quarters, and a stunning rear yard with a pool, spa, and tiki bar.

JUNE 2022

M AY 2 0 2 2

Sold Properties COMMUNITY

ADDRESS

Guard-Gated

SF

PRICE

P/SF

SUMMERLIN

1353 ENCHANTED RIVER DRIVE | MACDONALD HIGHLANDS

P/SF

3,029

$1,020,000

$337

LAS VEGAS $1,200,000

$397

Canyon Gate

Corta Bella

8801 Lusso Court

4,034

$1,319,000

$327

$1,525,000

$492

3,206

$1,390,000

$434

One Queensridge 9101 Alta Drive, #304 Place 9103 Alta Drive, #304

3,100

8840 Montagna Drive

3,100

$1,800,000

$581

Country Rose Estates

9713 Cameo Rose Lane

2,934

$915,000

$312

9103 Alta Drive, #804

3,100

$1,800,000

$581

Eagle Hills

1901 Red Robin Court

5,173

$2,900,000

$561

9103 Alta Drive, #807

2,271

$1,125,000

$495

Eagle Rock

9705 Plateau Heights Place

3,556

$1,610,000

$453

9813 Miss Peach Avenue

2,859

$720,000

$252

The Palisades

213 Royal Aberdeen Way

6,497

$2,250,000

$346

9801 Orient Express Court

11,405

$5,350,000

$469

Red Rock Country Club

2045 Alcova Ridge Drive

5,037

$2,285,000

$454

11761 Canons Brook Drive

2,742

$1,012,500

$369

1982 Country Cove Court

4,107

$1,700,000

$414

3863 Glasgow Green Drive

5,114

$2,300,000

$450

3338 Dove Run Creek Drive

2,508

$1,550,000

$618

10 Grand Masters Drive

3,940

$2,100,000

$533

11635 Evergreen Creek Lane

5,209

$2,625,000

$504

24 Vintage Canyon Street

4,429

$2,360,000

$533

11447 Morning Grove Drive

6,368

$3,300,000

$518

11938 Whitehills Street

4,236

$1,500,000

$354

11558 Morning Grove Drive

5,037

$2,375,000

$472

4975 Mountain Creek Drive

7,114

$2,650,000

$373

3080 Red Springs Drive

3,823

$2,400,000

$628

11359 Winter Cottage Place

3,579

$1,620,000

$453

Reverence

2670 Natural Rock Drive

4,099

$2,000,000

$488

The Ridges

4222 Bronze Ridge Street

4,888

$3,920,000

$802

4221 Garnet Hills Court

3,798

$4,000,000 $1,053

93 Glade Hollow Drive

3,797

$2,850,000

$751

11280 Granite Ridge Dr, #1096

2,414

$1,210,000

$501

68 Grey Feather Drive

3,562

$2,499,000

$702

84 Tapadero Lane

3,955

$2,499,000

$632

The Vineyards

1309 Reisling Court

3,800

$2,120,000

$558

Willow Creek

10828 Ickworth Court

4,016

$1,900,000

$473

10912 Keymar Drive

3,091

$1,400,000

$453

Queensridge

Southern Highlands

Spanish Hills

9001 Robinson Ridge Drive

Spanish Trail

24 Princeville Lane

4,247

$1,300,000

$306

Ten Oaks

7413 Doe Avenue

4,549

$1,685,000

$370

Tuscan Cliffs

11351 Lago Augustine Way

3,360

$1,300,000

$387

4291 San Alivia Court

5,838

$4,700,000

$805

4094 San Franchesca Court

4,786

$1,900,000

$397

37 Feather Sound Drive

2,875

$1,100,000

$383

HENDERSON Anthem Country Club

The Fountains

9 Greely Club Trail

6,451

$3,420,000

$530

15 Levan Hills Trail

2,614

$1,200,000

$459

11 Sankaty Circle

4,812

$2,400,000

$499

12 Winding Road

3,449

$1,250,000

$362

2258 Buckingham Court

4,660

$1,475,000

$317

2227 Versailles Court

4,350

$1,300,000

$299

$1,027,500

$255

Hillsboro Heights 188 Courtney Ann Drive MacDonald Highlands

Sincerely, Roma Hills

Monica Nalbantoglu Director of Sales 702.605.7480 monica@robjensen.com S. 179807

PRICE

3,023

The Absorption Rate/Inventory graph shows that guard-gated homes priced $500,000 to $1,500,000 and $2,000,000 to $2,500,000 make up the strongest market segments for sellers—with a general supply of three months. However, the market is still favorable for homes at all price points. If you’re ready to sell, we’re here to help.

Rob Jensen Broker / President 702.605.7480 rob@robjensen.com B.143770

SF

10000 Mirada Drive

I'd like to start this month's publisher letter talking about free money. If you were eligible for a PPP loan, you may have more relief coming your way in the form of the Employee Retention Credit. This information will be extremely beneficial for those who can use it. Our friend Krystal can run the numbers for you and file for the credit with the IRS while you keep your regular CPA. Just call Krystal Walford at 702.255.2330 to get started.

In May, guard-gated single-family home inventory was up month-over-month and year-over-year, while closed sales were down. However, when you look at homes priced over $1,000,000 (including properties outside of guard-gated communities), there were 162 closed sales in May 2022 compared to 140 in May 2021. Overall, sales are actually still up in the luxury market.

ADDRESS

Aventura

Dear Friends,

Now for the question on everyone’s mind: Is the real estate market headed toward a crash? We don’t have a crystal ball, but in our professional opinion, selling conditions for homeowners will be more favorable this year than next.

Along with record-low interest rates, there were trillions of stimulus dollars created in the last two years—rocket fuel that has propelled Las Vegas home prices to new heights. However, stimulus payments and Fed bond buying are winding down. Interest rates for a 30-year mortgage, which managed to break below 3%, are now over 5% in most cases and are poised to go even higher this year. The rocket fuel is running out, but the city is still a favorable place to live, particularly for Californians because we have lower real estate prices and no state tax. If you’ve been thinking about selling, we recommend that you do it this year.

COMMUNITY

No closed sales for the month of May in Bellacere, Canyon Fairways, Country Club Hills, Mesa Ridge, Mountain Trails, The Summit Club, Tournament Hills, Regency at the Lakes, Ascaya, Legacy Estates, and Seven Hills - Rapallo

4,022

720 Dragon Peak Drive

10,460

$14,600,000 $1,396

1198 MacDonald Ranch Dr

23,554

$10,750,000

$456

1455 MacDonald Ranch Dr

7,500

$2,500,000

$333

1315 Quiet River Avenue

6,088

$2,400,000

$394

483 Serenity Point Drive

3,028

$2,200,000

$727

450 Tranquil Peak Court

3,034

$1,459,177

$481

454 Tranquil Peak Court

2,272

$813,491

$358

1784 Diamond Rim Court

5,768

$4,750,000

$824

766 Lanni Court

5,554

$2,389,000

$430

4,745

$1,850,000

$390

Seven Hills 2582 Mirabella Street Terracina/Venezia

M AY 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

24

10

18

1

2.5

$750K-$999K

32

17

12

1

3.0

$1M-$1.49M

48

19

26

2

2.7

$1.5M-$1.99M

43

19

11

0

4.8

$2M-$2.49M

37

13

15

0

3.1

$2.5M-$2.99M

23

8

5

2

5.2

$3M-$3.99M

33

14

3

1

10.4

$4M+

74

15

6

2

9.9

*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), 05/31/22. 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 MAY 2022

Monthly & Yearly

ACTIVE LISTINGS

UNDER CONTRACT

CLOSED SALES

314

115

96

05/31/22

05/31/22

M AY ' 2 2

OVER APR '22

+38.9%

-14.8%

-13.5%

O V E R M AY ' 2 1

+57.8%

-34.7%

-37.3%

APR 2022

226 04/30/22

135 04/30/22

111

MAY 2021

199

176

153

05/31/21

05/31/21

APRIL '22

M AY ' 2 1

5237 IRON RIVER COURT MESA RIDGE $2,499,000 | 4,557 SF 4 Bedrooms, 5 Bathrooms Two-Story

A fresh start for you and your family awaits at this two-story home in Mesa Ridge, a guard-gated community located in The Mesa Village of Summerlin. Residents enjoy exclusive access to a wealth of community amenities, including a resort-style pool, fire pits, outdoor kitchen, social lounge, bocce court, fitness center, playground, and community center. Completed by Toll Brothers in 2021, this brandnew home features an open floor plan for entertaining, modern architectural details, and an unfinished yard ready to be customized for your unique lifestyle.

2 6 2 4 S E T T L E R S B AY L A N E SUN CITY SUMMERLIN $699,900 | 1,843 SF 2 Bedrooms, 2 Bathrooms Single-Story

Open-plan living and Strip views await at this single-story home, built on an elevated corner lot in the age-qualified community of Sun City Summerlin—where one occupant in each residence must be age 55 or older. Recently renovated, this home boasts new flooring, updated countertops, fresh paint, and more. This well-established neighborhood features tree-lined streets, great shopping, top-notch restaurants, and award-winning resorts, casinos, and spas. Other nearby amenities include recreation facilities, four fitness centers, an olympic-sized pool, three 18-hole golf courses, and extensive green belt areas.

8 HIDDEN HEIGHTS COURT A S C AYA $3,500,000 | 1.00 Acre Custom Home Site

Boasting direct, panoramic views of the Las Vegas Strip and no side neighbors, this private 1-acre lot is one of the last of its kind available in the 24-hour guard-gated community of Ascaya. Elevated 26’ above the homesite below (which has a building height restriction of 22’), this homesite enjoys breathtaking city views that will remain both permanent and unobstructed. Complete architectural plans are available for a modern single-story home designed for the site

by Greg Moore Design, a respected architect with multiple builds in Ascaya.

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, Rebecca Ryan robjensenco

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