Rob's Report - October 2021

Rob's Report SUMMERLIN, LAS VEGAS, & HENDERSON

1 0 9 6 8 T R A N Q U I L WAT E R S C O U R T WILLOW CREEK

$1,690,000 | 3,302 SF 4 Bedrooms, 4 Bathrooms Custom Single-Story

This is your opportunity to own a custom single-story home in Willow Falls, a gated subdivision of the 24-hour guard gated community of Willow Creek. Located among some of the best schools, parks, shopping, and golf courses that Summerlin has to offer, this community is a wonderful place to call home, and this unique property only enhances the lifestyle. Marble and hardwood flooring, stone and granite details, and vaulted ceilings with modern light fixtures are only a few of the highlights.

OCTOBER 2021

1 0 9 6 8 T R A N Q U I L WAT E R S C O U R T | W I L L O W C R E E K Dear Friends, We have just wrapped up the 3rd quarter of 2021. To put the strength of the luxury market into perspective, I’m going to share with you the 3rd quarter total sales for properties priced over $1,000,000. These numbers are for closed sales in Summerlin, Las Vegas, and Henderson combined and include houses and condos with or without a gate: 146 sales in Q3 2019, 232 sales in Q3 2020, and 411 sales in Q3 2021. At the $1M+ price point, there were 2.8 times more sales in 2021 than in 2019. This has led to substantial increases in home prices and very low inventory levels.

September’s numbers, which you can find in our Guard Gated Market Trends section, show things cooling off with the number of closed units and pending sales down month-over-month and year-over-year.

Inventory in September however was up 15% over August. I attribute this to a seasonal trend and expect pricing to remain stable. There will continue to be sales throughout the holiday season, so now is still a good time to sell if you want to take advantage of the current seller’s market.

Unsurprisingly, newer and renovated homes are fetching the highest prices. If your home is 10+ years old, now might be a good time to consider bringing in a designer to refresh things. Even if you don’t plan on selling soon, you’ll get to enjoy the refresh and get a higher price when you’re ready to sell. We work with some great vendors and can recommend the right designers, contractors, etc. to get the job done.

Please reach out with any questions you may have.

It’s a Good Life,

Rob Jensen Broker / President 702.605.7480 B.143770

Monica Nalbantoglu Director of Sales 702.605.7480 S. 179807

SEPTEMBER 2021

Sold Properties COMMUNITY

ADDRESS

SF

Guard Gated PRICE

P/SF

SUMMERLIN Canyon Fairways 9313 Canyon Classic Drive

Corta Bella

Country Club Hills

PRICE

P/SF

2,638

$960,000

$364

2,271

$800,000

$352

653 Ravel Court

4,354

$1,550,000

$356

308 Round Stone Court

3,798

$1,177,110

$310

31 Grand Masters Drive

4,628

$1,850,000

$400

620 Canyon Greens Drive

5,880

$3,125,000

$531

1905 Corta Bella Drive

4,034

$1,275,000

$316

Queensridge

1828 Dolce Drive

4,034

$1,068,000

$265

1916 Glenview Drive

4,870

$1,700,000

$349

$3,050,000

$325

4,259

$1,599,000

$375

4,678

$1,050,000

$224

Country Rose Estates

2024 Spring Rose Street

3,231

$760,000

$235

Eagle Hills

9217 White Tail Drive

5,717

$2,850,000

$499

The Palisades

420 Grand Augusta Lane

5,236

$1,750,000

$334

209 Royal Aberdeen Way

4,595

$1,184,500

$258

11358 Cedar Log Court

2,508

$1,075,000

$429

3301 Elk Clover Street

3,489

$1,450,000

$416

2854 Evening Rock Street

3,676

$1,250,000

$340

2924 Evening Rock Street

3,664

$1,125,000

$307

11690 Evergreen Creek Lane

3,926

$2,579,000

$657

11533 Evergreen Creek Lane

5,122

$2,470,000

$482

11239 Parleys Cone Court

2,508

$1,200,000

$478

2689 Red Arrow Drive

9,158

$4,350,000

$475

2942 Soft Horizon Way

2,160

$1,100,000

$509

3071 Conservation Court

4,201

$2,250,000

$536

2611 Nevada Agave Lane

4,099

$1,500,000

$366

11270 Sandstone Peak Drive

3,949

$3,010,000

$762

66 Coralwood Drive

4,618

$2,900,000

$628

10 Garden Rain Drive

3,776

$2,120,000

$561

93 Glade Hollow Drive

3,797

$2,165,000

$570

91 Hawk Ridge Drive

9,429

$6,300,000

$668

28 Hunting Horn Drive

4,618

$2,920,000

$632

11460 Ruby Falls Way

4,618

$2,800,000

$606

15 Tapadero Lane

4,351

$2,100,000

$483

44 Wildwing Court

8,888

$6,045,000

$680

Tournament Hills 1504 Champion Hills Lane

6,607

$2,450,000

$371

The Vineyards

1204 Saintsbury Drive

3,430

$940,000

$274

Willow Creek

2975 Lullingstone Street

4,016

$1,125,000

$280

The Ridges

SF

One Queensridge 9101 Alta Drive, #303 Place 9103 Alta Drive, #507

9,377

1721 Glenview Drive

Reverence

ADDRESS

LAS VEGAS

9032 Park Forest Court

Red Rock Country Club

COMMUNITY

Southern Highlands

3,791

$1,450,000

$382

6,103

$3,500,000

$573

39 Vintage Canyon Street

6,702

$5,200,000

$776

24 Vintage Valley Drive

8,978

$3,750,000

$418

11803 Weybrook Park Drive

2,742

$863,000

$315

11806 Weybrook Park Drive

2,172

$665,000

$306

Spanish Hills

4944 Spanish Heights Drive

4,573

$1,000,000

$219

Ten Oaks

7417 Oak Grove Avenue

4,289

$1,950,000

$455

2,614

$896,000

$343

HENDERSON Anthem Country Club

The Fountains

MacDonald Highlands

Seven Hills Rapallo

No closed sales for the month of September in Aventura, Bellacere, Eagle Rock, Mountain Trails, The Summit, Canyon Gate, Regency at the Lakes, Spanish Trail, Tuscan Cliffs, Ascaya, Hillsboro Heights, Legacy Estates, Roma Hills, and Seven Hills- Terracina/Venezia

12017 Oakland Hills Drive 12 Olympia Ridge Drive

46 Brandermill Drive 17 Brays Island Drive

3,136

$1,400,000

$446

14 Eagle Chase Court

2,581

$910,000

$353

57 Fountainhead Circle

2,678

$755,000

$282

24 Fountainhead Circle

1,268

$535,000

$422

32 Golf Crest Court

4,490

$1,355,000

$302

4 Hammock Dunes Court

1,683

$630,000

$374

9 Holston Hills Road

2,614

$845,000

$323

44 Hunt Valley Trail

1,905

$710,000

$373

38 Isleworth Drive

5,084

$1,650,000

$325

44 Moraine Drive

1,942

$784,300

$404

19 Moraine Drive

2,678

$780,000

$291

6 Perry Park Court

4,010

$1,250,000

$312

18 Starbrook Drive

3,876

$1,600,000

$413

9 Woodshole Court

2,499

$815,000

$326

2340 Dolphin Court

5,489

$1,400,000

$255

2347 Villandry Court

4,434

$1,075,000

$242

1724 Choice Hills Drive

2,968

$1,375,000

$463

1307 Enchanted River Drive

5,345

$2,375,000

$444

1439 Foothills Village Drive

3,999

$1,250,000

$313

579 Saint Croix Street

6,411

$4,250,000

$663

1266 Imperia Drive

4,399

$1,875,000

$426

SEPTEMBER 2021

How's The Market?

PRICE RANGE

Guard Gated Sales Statistics

FOR SALE

UNDER CONTRACT

SOLD

EXPIRED

ABS* RATE (MONTHS)

$500K-$749K

24

15

18

0

2.0

$750K-$999K

37

32

20

0

3.4

$1M-$1.49M

48

21

25

3

2.4

$1.5M-$1.99M

29

22

10

4

4.4

$2M-$2.49M

28

4

7

4

6.4

$2.5M-$2.99M

14

4

5

1

4.0

$3M-$3.99M

20

16

5

3

8.0

$4M+

68

12

5

4

17.8

*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), 09/30/21. 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

95

126

268

OVER AUG '21

-9%

-2.3%

+15%

OVER SEP '20

-11%

-33.7%

-35.3%

SEP 2021

AUG 2021

SEP 2020

SEPTEMBER '21

09/30/21

09/30/21

AUGUST '21

104

129 08/31/21

233

107

190

414

SEPTEMBER '20

09/30/20

08/31/21

09/30/20

1 2 1 2 5 C A B O R O J O AV E N U E T H E PA S E O S $1,148,000 | 3,934 SF 5 Bedrooms, 5 Bathrooms Two-Story

From the slopes of Summerlin's Paseos village, this two-story home presents a rare lifestyle in Belmonte, a gated Woodside Homes community. From the spacious family room with 15’ wide sliding glass doors to the primary bedroom with a Strip and mountain view balcony, everything in this home has been designed for your enjoyment. Built in a prime location—minutes from Red Rock Canyon, Downtown Summerlin, Red Rock Casino Resort & Spa, and some of the most desirable schools in the valley—this community provides a perfect balance between city living and natural beauty.

UNDER CONTRACT

9223 TESORAS DRIVE, #201 MIRA VILLA $870,000 | 2,333 SF 3 Bedrooms, 3 Bathrooms Condominium Residence

Overlooking the verdant fairways of Angel Park Golf Club’s Mountain Course, this second-story condominium provides an exceptional lifestyle in Mira Villa—an upscale mid-rise community in the heart of The Canyons, a Summerlin Village. Amenities of this gated community include a clubhouse with lounge areas and a kitchen, a state-of-the-art fitness center, five spas, a resort-style lagoon pool, cabanas, and three shaded barbecue pavilions. Multiple dining and retail shopping options are right around the corner from Mira Villa at Boca Park and Tivoli Village.

UNDER CONTRACT

2 1 2 1 B O U N D A RY O A K D R I V E SUN CITY SUMMERLIN $950,000 | 3,163 SF 3 Bedrooms, 3 Bathrooms Single-Story

This is your opportunity to own a single-story home in Sun City Summerlin, one of the nation’s premiere 55+ active adult communities. This well-established neighborhood boasts tree-lined streets, great shopping, top-notch restaurants, and award-winning resorts, casinos, and spas. Built on a lot overlooking the 7th hole of Eagle Crest golf course, this property showcases spectacular, unobstructed views of the nearby mountains and fairways. Beyond the gated front patio, discover a bright interior with 12” ceilings, skylights, and picture windows to capture the view.

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

JUST SOLD

12108 VISTA LINDA AVENUE THE PASEOS

$1,150,000

JUST SOLD

653 RAVEL COURT

$1,550,000

QUEENSRIDGE

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