Rob's Report - February 2022

Rob's Report SUMMERLIN, LAS VEGAS, & HENDERSON

UNDER CONTRACT

300 CAMBRIAN RIDGE COURT CANYON TERRACE

$1,095,000 | 2,755 SF 3 Bedrooms, 2 Bathrooms Single-Story

Discover peace and privacy beyond compare at this single-story home in Canyon Terrace, a gated neighborhood in the award-winning Summerlin master-planned community. Built on an elevated lot, this property enjoys an added level of privacy. Open and bright, the ranch-inspired floor plan is complimented by 12’ ceilings and oversized sliding glass doors and windows. Endless entertainment awaits in the backyard, where you can gather around the fire pit, catch some rays on the raised sunbathing deck, or simply enjoy the pool and spa.

F E B R U A RY 2 0 2 2

J A N U A RY 2 0 2 2

Sold Properties COMMUNITY

ADDRESS

Guard-Gated

SF

PRICE

P/SF

SUMMERLIN 10017 Mirada Drive

3,372

$850,000

$252

Country Rose Estates

9700 Heirloom Court

2,934

$740,000

$252

Eagle Rock

420 Pinnacle Heights Lane

2,984

$1,175,000

$394

Red Rock Country Club

1923 Alcova Ridge Drive

4,107

$1,470,000

$358

11550 Evergreen Creek Lane

5,209

$2,150,000

$413

11344 Golden Chestnut Pl

3,496

$1,899,000

$543

11259 Parleys Cone Court

2,325

$1,000,000

$430

2880 Peaceful Grove Street

4,410

$1,500,000

$340

11280 Ansel Court

3,956

$2,475,000

$626

3101 Greenscape Lane

3,451

$2,025,000

$587

79 Glade Hollow Drive

4,888

$3,350,000

$685

11497 Opal Springs Way

5,047

$4,000,000

$793

7 Skybird Court

8,773

$8,250,000

$940

54 Sun Glow Lane

5,267

$5,267,000 $1,000

The Vineyards

10717 Beringer Drive

3,392

$1,000,000

$295

Willow Creek

3092 Hammerwood Drive

4,308

$1,200,000

$279

10828 Ickworth Court

4,016

$1,150,000

$286

10912 Keymar Drive

3,091

$1,050,000

$340

2,271

$1,115,000

$491

6,404

$5,600,000

$874

9103 Alta Drive, #406

2,137

$1,050,000

$491

808 Lacey Tree Street

3,679

$975,000

$265

1009 Sir James Bridge Way

2,471

$625,000

$253

1017 Windfair Village Street

2,493

$688,000

$276

9904 Aspen Knoll Court

3,274

$900,000

$275

3570 Belvedere Park Lane

5,642

$2,600,000

$461

62 Carolina Cherry Drive

3,904

$1,250,000

$320

19 Eagle Knoll Court

4,119

$2,375,000

$577

Reverence

Dear Friends, You already know that 2021 was a blockbuster year for luxury real estate—with closed sales up 32% year over year in the $500,000+ guard-gated market—but there’s more to the story. To tell that story, let’s analyze the Top 25 Guard Gated Home Sales of 2021 (Top 10 pictured). Ranked by sales price, our list only includes single-family homes in Summerlin, Las Vegas, and Henderson; no high-rise, mid-rise, or townhome sales were included.

Buyers were willing to pay a premium for ultra-luxury properties in 2021; there were 10 properties that sold for $10 million or higher (compared to 5 properties in 2020 and just 1 in 2019). 685 Dragon Peak Drive in MacDonald Highlands sold for $25 million—over $10 million higher than 2020’s top sale. Cash reigned as king in 2021; 18 of the top 25 properties were purchased with cash.

As far as communities go, The Ridges dominated our list with 11 homes in the top 25, once again proving the ultra-chic community’s appeal to luxury home buyers. The world-class Summit Club did well with 5 properties in the top 25; these properties also made up the top 5 sales when it came to price per square foot, maxing out at $2,327/SF. As a pertinent side note, the Summit Club was home to 24 out of the top 25 vacant lot sales in 2021, which sold for an average of $7.8 million per acre (ranging from $3.9 to $14.4 million per acre).

As always, homes with breathtaking views and high-end amenities fared well in 2021. Every property on our list features a swimming pool, 13 boast golf course frontage, and 16 contain a casita, a basement, or both.

Unsurprisingly, most of these homes are newer; 80% were built in the last 10 years.

The Ridges

LAS VEGAS One Queensridge 9101 Alta Drive, #1107 Place 9101 Alta Drive, #1604

Queensridge

Regency at The Lakes Southern Highlands

Whether you’re looking to set a sales price record in your own neighborhood or across the valley, we’re here to help. From marketing your home’s best features to helping it look and feel as new as possible, we have a team

11906 Port Labelle Drive

4,787

$1,850,000

$386

9 Vintage Ridge Drive

6,064

$2,850,000

$470

12091 Whitehills Street

4,566

$1,600,000

$350

Spanish Hills

5148 Mountain Foliage Drive

5,945

$1,525,000

$257

Spanish Trail

7889 Bermuda Dunes Ave

4,134

$1,075,000

$260

79 Princeville Lane

5,042

$1,200,000

$238

8259 Turtle Creek Circle

2,024

$646,750

$320

7408 Silver Palm Avenue

3,985

$1,235,000

$310

member for everything. Let’s talk today!

Sincerely,

Rob Jensen Broker / President 702.605.7480 B.143770

Monica Nalbantoglu Director of Sales 702.605.7480 S. 179807

Ten Oaks

ADDRESS

SF

PRICE

P/SF

38 Anthem Creek Circle

3,962

$1,450,000

$366

HENDERSON

Aventura

300 CAMBRIAN RIDGE COURT | CANYON TERRACE

COMMUNITY

Anthem Country Club

2 Chenal Pass

5,695

$1,950,000

$342

39 Club Vista Drive

8,317

$8,250,000

$992

58 Colleton River Drive

1,613

$660,000

$409

45 Contra Costa Place

3,037

$1,130,000

$372

4 Fountainhead Circle

1,720

$659,900

$384

33 Hassayampa Trail

3,942

$1,550,000

$393

23 Highland Creek Drive

5,167

$2,050,000

$397

12 Kennesaw Road

1,720

$645,000

$375

86 Kittansett Loop

4,889

$4,075,000

$834

28 Pine Hollow Drive

4,736

$2,549,000

$538

9 Sankaty Circle

4,990

$2,350,000

$471

19 Stonemark Drive

2,460

$940,000

$382

6 Wade Hampton Trail

3,062

$935,000

$305

Ascaya

21 Boulderback Drive

6,318

$6,025,000

$954

The Fountains

2267 Buckingham Court

3,768

$1,290,000

$342

2207 Versailles Court

3,209

$1,200,000

$374

2369 Villandry Court

6,658

$1,475,000

$222

Legacy Estates

2053 Troon Drive

6,481

$2,550,000

$393

2058 Troon Drive

9,733

$1,775,000

$182

MacDonald Highlands

653 Dragon Peak Drive

5,221

$3,975,000

$761

552 Regents Gate Drive (SS)

6,052

$1,450,000

$240

659 Scenic Rim Drive

8,645

$7,500,000

$868

665 Tranquil Rim Court

6,472

$4,850,000

$749

686 Tranquil Rim Court

5,771

$4,600,000

$797

661 Tranquil Rim Court

5,010

$3,150,000

$629

No closed sales for the month of January in Bellacere, Canyon Fairways, Corta Bella, Country Club Hills, Eagle Hills, Mountain Trails, The Palisades, The Summit Club, Tournament Hills, Canyon Gate, Tuscan Cliffs, Hillsboro Heights, Roma Hills, Seven Hills - Rapallo, and Seven Hills-Terracina/Venezia

J A N 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

7

25

22

1

1.5

$750K-$999K

15

27

13

3

2.2

$1M-$1.49M

22

32

20

4

2.5

$1.5M-$1.99M

23

12

8

4

3.5

$2M-$2.49M

20

16

6

1

5.1

$2.5M-$2.99M

10

3

4

4

3.3

$3M-$3.99M

15

13

3

0

6.2

$4M+

51

14

9

9

10.0

*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), 1/31/22. 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 JAN 2022

Monthly & Yearly

CLOSED SALES

UNDER CONTRACT

ACTIVE LISTINGS

85

142

163

J A N U A RY ' 2 2

1/31/22

1/31/22

OVER DEC '21

-18%

+11.8%

-11.9%

OVER JAN '21

-11%

-26.4%

-30.6%

DEC 2021

JAN 2021

104

DECEMBER '21

127 12/31/21

185

96

193

235

J A N U A RY ' 2 1

1/31/21

12/31/21

1/31/21

Top 10 Sales of 2021 #1 $25,000,000

685 DRAGON PEAK DRIVE

#2 $18,750,000

11091 STARDUST DRIVE

#3 $17,500,000

11245 STARDUST DRIVE

#4 $15,400,000

10951 STARDUST DRIVE

#5 $14,690,000

8 ROCKMOUNT COURT

#6 $12,250,000

681 DRAGON PEAK DRIVE

#7 $11,300,000

1641 ENCLAVE COURT

#8 $10,500,000

7 CLOUD CHASER BOULEVARD

#9 $10,000,000

4 SOARING BIRD COURT

#9 $10,000,000

3 ANTHEM POINTE COURT

#10 #1

$9,600,000

#2, 3, 4

THE SUMMIT CLUB

#5

15,000 SF | MACDONALD HIGHLANDS

9,427 SF | THE SUMMIT CLUB

7,782 SF | THE SUMMIT CLUB

6,634 SF | THE SUMMIT CLUB

#6

#7

#8

#9

#9

#10

12,101 SF | ASCAYA

9,534 SF | MACDONALD HIGHLANDS

14,132 SF | COUNTRY CLUB HILLS

8,925 SF | ASCAYA

11,211 SF | THE RIDGES

15,873 SF | ANTHEM COUNTRY CLUB

1701 ENCLAVE COURT

13,349 SF | COUNTRY CLUB HILLS Photo Courtesy of Blue Heron

Las Vegas Property Tax: Frequently Asked Questions When are property taxes due? In Clark County, property tax bills are mailed annually in July. Taxes must be paid in advance for the fiscal year ahead (July 1st to June 30th). Payment is due on the 3rd Monday in August.

How are property taxes calculated? Property taxes in Nevada are based on a property’s taxable value, which is determined by the Assessor and is defined as “the market value of the land and the current replacement cost of improvements less statutory depreciation.” This is not the same as a home’s resale value, which fluctuates with the market.

Do property taxes increase over time? Because homes are assessed yearly, property taxes can go up every year. However, homeowners are protected from steep increases by Nevada’s tax abatement law, which applies a 3% cap on the tax bill of the homeowner's primary residence. Additionally, when you buy a home, you inherit the seller’s tax cap for that fiscal year. The following year, your taxes can only increase by another 3%, and so on. The yearly tax increase for all other properties you own, including investment properties, is capped at 8%.

A good example of tax abatement can be found in the public tax history for 3040 American River Lane, a property we sold in 2021 for $2,575,000. In 2020, the home’s assessed value was 7% higher than the previous year, but the annual property tax bill only increased by 3%.

YEAR

TAX ASSESSMENT

PROPERTY TAXES

2022

$495,121 (+2%)

$9,758 (+3%)

2021

$483,460 (+1%)

$9,476 (+3%)

2020

$478,821 (+7%)

$9,199 (+3%)

2019

$447,497

$8,932

Where can I find more information about property taxes? For up-to-date information, including tax rates and future deadlines, visit the Clark County Assessor’s website.

For the full version of this FAQ, visit robjensen.com/real-estate-advice

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

JUST SOLD | BUYER REPRESENTATION

1901 NEWPORT BAY DRIVE MARINA ESTATES

$1,500,000

JUST SOLD | SELLER REPRESENTATION

8407 PRAIRIE RUN AVENUE SABLE OAKS MANOR

robjensenco

robjensenco

$800,000