Rob's Report - June 2020

ROB'S REPORT

SUMMERLIN, L AS VEGAS, & HENDERSON JUNE 2020

9824 GLENROCK DRIVE

#9824Glenrock

MOUNTAIN TRAILS | $1,795,000

5,010 Square Feet | 4 Bedrooms | 5 Bathrooms | 3-Car Garage Discover the lifestyle you’ve always wanted at this Mountain Trails custom home, which has recently been improved with over $315,000 in contemporary updates. Whether you are entertaining in the formal living room or great room, cooking in the eat-in kitchen, or getting some rest in the master suite, you’ll appreciate the open floor plan with a multitude of picture windows and glass doors that connect the inside to the gorgeous landscaping outside.

This comfortable home enjoys a premium location on .54 acres in Mountain Trails—a classic 24-hour guard gated community in The Trails Village of Summerlin. An oasis for al fresco dining, sun tanning, and swimming, the rear yard includes multiple lounge areas, an outdoor kitchen with a Grand Turbo grill, a spa, and a tiered pool with a waterfall feature and waterslide.

Dear Friends, The Luxury Real Estate Market is Back… for now The spring selling season’s bloom came late, but it has arrived. In May, closed sales of guard gated real estate in Las Vegas checked in at 48 properties, which is a 50% increase over April. While the closed sales figure is a lagging indicator, since the escrow process is 30-45 days, when we look at another of May’s month-end numbers, the ramp-up of buyer optimism shines through.

As of May 31, 111 guard gated properties were reported under contract. That’s up from May 2019’s number of 97. So, while May’s year-over-year comparison of “closed sales” shows 2020 is down 54%, the rise of the under-contract figure means that good things are ahead in Las Vegas’ guard gated market.

Watching Las Vegas turn the lights back on and May’s uptick of sales activity makes for a positive mood. Add to that the LA Times recently reported that our neighbor Los Angeles’ luxury market is booming. The economy is supercharged with stimulus money, the C.A.R.E.S Act, and businesses have PPP money to spend. However, it is important we remain cautiously optimistic, and closely monitor Nevada’s numbers of COVID cases in the weeks ahead.

In the past few weeks, my team and I have paid close attention to the frank and long overdue discussions about race. We believe every industry has a responsibility to do its part to cultivate change. We are working to educate ourselves while having meaningful internal discussions about our role in creating a more diverse workplace and amplifying Black voices in our industry and community so we can be a part of the change. I will be sharing more information in the weeks ahead.

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

FOR THE MONTH OF| APRIL 2017 SOLD PROPERTIES GUARD GATED FOR THE MONTH OF MAY 2020

SUMMERLIN ADDRESS

SF

LAS VEGAS PRICE

P/SF

Aventura* Bellacere 10116 Summit Canyon Drive Canyon Fairways 9272 Tournament Canyon Drive Corta Bella* Country Club Hills* Country Rose Estates 2112 Scarlet Rose Drive Eagle Hills 9000 Bald Eagle Drive Eagle Rock 705 Pinnacle Heights Lane Mountain Trails* The Palisades* Red Rock Country Club 2655 Grassy Spring Place 2272 Green Mountain Court 2885 Red Springs Drive 11541 Timber Mountain Avenue 11310 Winter Cottage Place The Ridges 4198 Bronze Ridge Street 5 Moonfire Drive 18 Moonfire Drive 43 Olive Ridge Drive

12,314

$2,950,000

$240

8,134

$2,655,000

$326

2,289

$475,000

$208

5,027

$1,470,000

$292

3,745

$1,010,000

$270

ADDRESS

SF

Canyon Gate 2108 Bay Hill Drive 8649 Canyon View 8936 Rainbow Ridge Drive Queensridge 9605 Gavin Stone Avenue 9837 Queen Charlotte Drive (REO) 9828 Winter Palace Drive Regency at the Lakes* Southern Highlands* Spanish Hills* Spanish Trail* Ten Oaks*

PRICE

P/SF

3,146 4,750 2,212

$650,000 $1,150,000 $690,000

$207 $242 $312

2,782 3,910 15,000

$665,000 $609,525 $5,888,000

$239 $156 $393

HENDERSON 4,443 5,268 2,508 3,460 4,443

$1,305,000 $1,485,000 $650,000 $825,000 $1,200,000

$294 $282 $259 $238 $270

4,618 4,172 4,172 3,562

$2,499,000 $1,575,000 $1,228,000 $1,425,000

$541 $378 $294 $400

Tournament Hills* The Vineyards* Willow Creek 2720 Desert Troon Street 3021 Hammerwood Drive 10725 Rivendell Avenue

3,740 4,947 3,792

$860,000 $1,355,000 $740,000

$230 $274 $195

10969 Tranquil Waters Court

3,303

$780,000

$236

ADDRESS Anthem Country Club 14 Chatmoss Road 17 Emerald Dunes Circle 15 Holston Hills Road The Fountains 2334 Villandry Court Hillsboro Heights 1890 Brentwood Drive Legacy Estates* MacDonald Highlands 513 Bighorn Ridge Avenue 1320 Enchanted River Drive 1426 Foothills Village Drive 1199 Macdonald Ranch Drive Roma Hills 1795 Valenzano Way Seven Hills - Rapallo* Seven Hills - Terracina/Venezia 2673 Boboli Court 1545 Villa Rica Drive

*No closed sales for the month of May

REO - Bank Owned Foreclosure

SF

PRICE

P/SF

1,940 1,942 2,614

$549,900 $495,000 $680,000

$283 $255 $260

4,974

$1,060,000

$213

3,394

$530,000

$156

4,624 5,555 3,739 8,986

$1,300,000 $1,500,000 $965,000 $3,950,000

$281 $270 $258 $440

6,248

$1,300,000

$208

8,452 7,200

$4,265,000 $1,690,000

$505 $235

HOW’S THE MARKET? | GUARD GATED SALES STATISTICS - MAY UNDER CONTRACT

SOLD

EXPIRED

ABS* RATE (MONTHS)

99

38

16

5

10.5

$750K-$1M

102

24

10

4

14.8

$1M-$1.5M

86

18

12

4

10.9

$1.5M-$2M

69

9

3

4

22.3

$2M-$2.5M

41

5

2

2

30.7

$2.5M-$3M

30

5

2

0

23.3

$3M-$4M

26

10

1

3

72

$4M+

58

2

2

3

30

PRICE RANGE $500K-$750K

FOR SALE

*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), 6/1/20. 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 |

MONTHLY & YEARLY

ACTIVE LISTINGS

CLOSED SALES

622

+3.5% -4.2%

Apr '20

over last year

May '19

over last month over last year

Month over Month 622 601

Year over Year May '20

+50% -54%

over last month

Month over Month May '20

48

48

May '20 Apr '20

32

Year over Year 622 649

May '20 May '19

48 104

2672 BOBOLI COURT

SEVEN HILLS TERRACINA | $1,199,999 .61 Acres | Strip, Golf, & City Views | Cul-de-Sac

Imagine a lifestyle of your own design— waking up to spectacular views of the Las Vegas Valley, lounging in an infinity pool overlooking pristine double fairways, watching the glistening lights of the Strip through walls of glass. Modern or traditional, minimal or extreme, entertainer’s mansion or private sanctuary—your home reflects what you value most. This .61-acre custom home lot in the 24-hour guard gated community of Terracina sets the foundation for an estate that speaks to your deepest desires. Owning and building upon a flat, hillside, cul-de-sac homesite like this is among the rarest of opportunities in life. Why not seize it?

#2672Boboli

3D SHOWCASE |

DIGITAL OPEN HOUSE

3D Showcase is your 24/7 open house on robjensen.com. Because these digital spaces are made from real-world 2D and 3D data, the 3D Showcase becomes a powerful tool to give prospective buyers an accurate sense of your property—before they ever step through the door.

Three Immersive Views We provide three different options for virtual tours when listing a home for sale. First, you can have a 3D dollhouse view of the entire home or select a particular floor. Second, the platform provides a top-down floor plan view.

Third, buyers can walk through the whole house and have a look at the kitchen appliances, bathroom finishes, and all other details.

Dollhouse View Dollhouse View shows how an entire property fits together.

Floorplan View Understand layout in a glance with top-down Floorplan View.

Inside View Navigate every room of a property with Inside View.

11 Boulder Rock Circle | The Ridges

#11BoulderRock

2300 Pearl Crest Street | Mountain Trails

#2300PearlCrest

8 Garden Rain Drive | The Ridges

#8GardenRain

TEAM SPOTLIGHT!

Monica Nalbantoglu

DIRECTOR OF SALES | REALTOR®

Monica is a thirteen year veteran of Las Vegas and has a Bachelor’s Degree in Journalism and English Literature. She specializes in working with buyers and sellers of properties located in our guard gated communities.

Monica offers an international flair to the Rob Jensen Company. She was born and raised in San Juan, Puerto Rico and is multi-lingual. She is fluent in English, Spanish, and Turkish. A wine enthusiast, she has also earned an intermediate Sommelier certification. Salute!

In her rare spare time Monica enjoys international travel, reading, cooking, and especially spending time with her daughter.

“Nothing is better than seeing the joy on my client’s face when I hand them the keys to the home I introduced them to and they fell in love with.”

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

We've Done It! 2655 GRASSY SPRING PLACE RED ROCK COUNTRY CLUB | $1,305,000

Number of Agents Hired Before The Rob Jensen Company: 1 Number of Days on Market with That Agent: 385 Listed and Sold By The Rob Jensen Company: 70 Days Closing Price: $1,305,000

SOLD!