Rob's Report - November 2021

Rob's Report SUMMERLIN, LAS VEGAS, & HENDERSON

4 0 1 G R A N D A U G U S TA L A N E T H E PA L I S A D E S

$1,900,000 | 5,005 SF 4 Bedrooms, 6 Bathrooms Two-Story

Welcome to your personal haven, a semi-custom two-story home built on nearly half an acre in The Palisades—an exclusive 24-hour guard gated community in Summerlin. Developed by renowned luxury builder Christopher Homes, this home boasts an old world aesthetic featuring decorative tilework, columns, wrought iron, and stacked stone. The generous cul-de-sac lot provides ample grounds for the outdoor amenities, including a tennis court, an in-ground trampoline, and a glistening pool and spa.

NOVEMBER 2021

4 0 1 G R A N D A U G U S TA L A N E | T H E PA L I S A D E S

Dear Friends, October’s numbers are in, and they show a year-over-year decline in sales and inventory. Year-over-year trends are interesting to look at because they avoid the seasonal trends that month-over-month numbers can show. Sales generally tend to slow down during the fall/winter season and start to pick up again in the spring. However, 2020 was an unusual year; the fall/winter season was full steam ahead, and we were still doing deals while I was visiting my folks for Christmas. Following such an unusual year, it’s not surprising that year-over-year sales and inventory have declined. This holiday season is looking more normal. Comparing October to September shows only a small dip in closed sales and inventory, with a slight increase in pending sales.

We are starting to see homes sit on the market a bit longer, and price reductions are more common. This doesn’t mean the market is going down; asking prices were just too high to begin with. In a market where prices increased by leaps and bounds, it was common for sellers to throw out big numbers—and it worked for over a year. However, like the parent of the proverbial kid asking for another cookie from the cookie jar, the market has finally said, "No." Low inventory is going to keep the real estate market a seller's market, and the relaxing of international travel restrictions should start to bring foreign money back into the picture. If you have any questions, give us a call.

Sincerely,

Rob Jensen Broker / President 702.605.7480 B.143770

Monica Nalbantoglu Director of Sales 702.605.7480 S. 179807

OCTOBER 2021

Sold Properties COMMUNITY

ADDRESS

Guard Gated

SF

PRICE

P/SF

7,320

$2,800,000

$383

2,628

$640,000

$244

SUMMERLIN Canyon Fairways 800 Canyon Greens Drive 9705 Cameo Rose Lane

COMMUNITY

ADDRESS

SF

PRICE

P/SF

2221 Glenbrook Way

3,513

$1,221,000

$348

8860 Rainbow Ridge Drive

2,082

$737,000

$354

LAS VEGAS Canyon Gate

Country Rose Estates

2000 Spring Rose Street

3,128

$795,000

$254

$930,000

$346

2117 Redbird Drive

5,755

$1,900,000

$330

One Queensridge 9101 Alta Drive, #15 Place 9101 Alta Drive, #401

2,686

Eagle Hills

4,827

$2,460,000

$510

9205 White Tail Drive

5,187

$1,620,000

$312

Queensridge

801 Aquitaine Court

3,502

$750,000

$214

605 Pinnacle Heights Lane

3,762

$1,304,000

$347

301 Nottinghill Gate Court

4,190

$920,000

$220

Eagle Rock Mountain Trails

2212 Paiute Meadows Drive

7,716

$3,020,000

$391

3,552

$1,520,000

$428

124 South Royal Ascot Drive

5,356

$2,100,000

$392

Southern Highlands

3381 Birchwood Park Circle

The Palisades

12004 Whitehills Street

2,172

$815,000

$375

Red Rock Country Club

2125 Alcova Ridge Drive

4,577

$1,845,000

$403

Spanish Hills

4914 Mesa Capella Drive

4,488

$1,000,000

$223

11580 Evergreen Creek Lane

3,823

$1,600,000

$419

The Summit

2,692

$650,000

$241

7,341

$3,650,000

$497

2,837

$1,135,000

$400

11227 La Madre Ridge Drive

3,455

$975,000

$282

8361 Plum Creek Court

3,538

$1,450,000

$410

10,780

$4,900,000

$455

8333 Turtle Creek Circle

3,507

$850,000

$242

3,823

$1,625,000

$425

7412 Silver Palm Avenue

4,222

$1,225,000

$290

3,942

$2,200,000

$558

2797 Turtle Head Peak Drive

The Ridges

7960 Bermuda Dunes Ave 32 Burning Tree Court

2585 Grassy Spring Place

2540 Red Arrow Drive

Reverence

Spanish Trail

Ten Oaks

10910 Calm Desert Court

2,214

$1,099,000

$496

11160 Emory Oak Drive

4,273

$1,650,000

$386

2980 Full Lotus Drive

2,452

$1,180,000

$481

28 Anthem Creek Circle

3,942

$1,525,000

$387

2941 Raywood Ash Drive

2,851

$850,000

$298

3 Anthem Pointe Court

15,873

$10,000,000

$630

4165 Bronze Ridge Street

5,229

$3,550,000

$679

93 Emerald Dunes Circle

1,940

$795,000

$410

4181 Bronze Ridge Street

4,619

$3,250,000

$704

121 Emerald Dunes Circle

1,833

$795,000

$434

4211 Bronze Ridge Street

4,888

$2,525,000

$517

11 Emerald Dunes Circle

2,072

$625,000

$302

50 Grey Feather Drive

3,562

$1,605,000

$451

6 Fox Chapel Terrace

3,374

$1,450,000

$430

85 Meadowhawk Lane

6,343

$5,725,000

$903

31 Kittansett Loop

3,374

$1,250,000

$370

15 Night Song Way

5,041

$4,500,000

$893

21 Mallard Creek Trail

4,025

$1,400,000

$348

11447 Opal Springs Way

3,797

$2,200,000

$579

8 Oro Valley Drive

3,848

$1,300,000

$338

25 Promontory Ridge Drive

8,588

$5,974,000

$696

16 Pine Hollow Drive

4,025

$1,325,000

$329

26 Sun Glow Lane

6,928

$5,500,000

$794

5 Stonemark Drive

3,848

$1,066,000

$277

11091 Stardust Drive

9,427

$18,750,000 $1,989

2280 Trafalgar Court

7,379

$1,649,998

$224

10951 Stardust Drive

6,634

$15,400,000 $2,321

Tournament Hills 1432 Iron Hills Lane

7,741

$2,250,000

$291

Willow Creek

3020 Hammerwood Drive

4,646

$1,875,000

$404

3051 Traverse Creek Lane

4,982

$1,705,000

$342

10724 Weather Top Court

3,458

$900,000

$260

No closed sales for the month of October in Aventura, Bellacere, Corta Bella, Country Club Hills, The Vineyards, Regency at the Lakes, Tuscan Cliffs, Ascaya, Hillsboro Heights, Legacy Estates, Seven Hills - Rapallo, and Seven Hills - Terracina/Venezia

HENDERSON Anthem Country Club

The Fountains

4 Anthem Creek Circle

2225 Versailles Court

4,543

$1,050,000

$231

2332 Villandry Court

4,155

$1,250,000

$301

MacDonald Highlands

1228 Stellar Rim Court

4,304

$3,430,000

$797

Roma Hills

764 Ricota Court

6,077

$1,550,000

$255

OCTOBER 2021

How's The Market?

PRICE RANGE

Guard Gated Sales Statistics

FOR SALE

UNDER CONTRACT

SOLD

EXPIRED

ABS* RATE (MONTHS)

$500K-$749K

18

17

16

0

2.1

$750K-$999K

31

31

22

3

3.0

$1M-$1.49M

44

25

22

5

2.9

$1.5M-$1.99M

26

14

13

1

3.5

$2M-$2.49M

32

14

4

1

8.4

$2.5M-$2.99M

13

6

3

0

4.8

$3M-$3.99M

21

10

5

2

6.2

$4M+

65

13

8

2

12.0

*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), 10/31/21. 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

CLOSED SALES

UNDER CONTRACT

ACTIVE LISTINGS

OCT 2021

93

OCTOBER '21

130

250

OVER SEP '21

-2%

+3.2%

-6.7%

OVER OCT '20

-26%

-35.3%

-36.4%

SEP 2021

OCT 2020

10/31/21

10/31/21

SEPTEMBER '21

95

126 09/30/21

268

126

201

393

OCTOBER '20

10/31/20

09/30/21

10/31/20

3093 RED ARROW DRIVE

R E D R O C K C O U N T RY C L U B $4,999,000 | 8,724 SF 5 Bedrooms, 6 Bathrooms Custom Two-Story

A lifestyle like no other awaits at this custom two-story mansion in the 24-hour guard gated community of Red Rock Country Club.

Safely tucked behind a secondary gate in The Estates, this property boasts breathtaking views of the nearby mountains, the 14th tee of the private Mountain golf course, double fairways, and a cascading waterfall feature. Beyond the hedge-lined drive and custom-cast facade of this palatial estate, discover incredible spaces: a grand foyer and living room with 25’ ceilings, a true entertainer’s kitchen, a game room that opens to the pool deck, an immaculate owner’s suite, and much more.

2705 GRASSY SPRING PLACE R E D R O C K C O U N T RY C L U B $1,750,000 | 4,083 SF 4 Bedrooms, 5 Bathrooms Two-Story

Lovers of natural beauty will appreciate this fully renovated two-story home in the 24-hour guard gated community of Red Rock Country Club. Built on the second hole of the private Mountain golf course, this property showcases picturesque fairway and mountain vistas from almost every room. The generous lot size, 50% larger than most in the area, allows for a larger backyard and setback from the street.

Recent upgrades include new flooring, trendy light fixtures, and fresh interior paint. Beyond the expansive front yard and courtyard entry, discover a spacious floor plan with multiple French doors and balconies for indoor/outdoor living.

UNDER CONTRACT

3040 AMERICAN RIVER LANE WILLOW CREEK

$2,600,000 | 5,580 SF 5 Bedrooms, 6 Bathrooms Custom Single-Story

Masterfully designed by the architect behind Tivoli Village and One Queensridge Place, this custom single-story estate presents a rare lifestyle in Willow Falls, a gated subdivision of the 24-hour guard gated community of Willow Creek in Summerlin. From striking natural stone facades to palatial interior spaces, no detail has been spared.

Step inside and discover a wealth of artisan finishes: hand-laid Venetian plaster, travertine floors, seventeen skylights, and custom masonry featuring seven types of stone from six different countries.

True resort-style living awaits in the skylit lanai, an air-conditioned veranda with an irrigated garden bed and a 25’ wide wall of glass that opens to the 50’ lagoon pool.

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

JUST SOLD

JUST SOLD

$2,800,000

800 CANYON GREENS DRIVE CANYON FAIRWAYS

JUST SOLD

SERRANO

$1,424,000

JUST SOLD

$1,650,000

11160 EMORY OAK DRIVE REVERENCE

JUST SOLD

2611 NEVADA AGAVE LANE REVERENCE

$1,500,000

JUST SOLD

$870,000

9223 TESORAS DRIVE, #201 MIRA VILLA

robjensenco

704 TANDOORI LANE

robjensenco

1600 SHADOW ROCK DRIVE CANYON GATE

$650,000