Get free access to our world class MLS search tools, save your favorite listings, create saved searches & much more!

2 Las Vegas Valley communities among top 10 nationally for sales, report shows

Posted by Mastura Zaini-Roberts on Thursday, January 5th, 2017 at 3:31pm.

Two master-planned communities in the Las Vegas Valley were among the top 10 nationally for home sales last year, a new report shows.

Builders sold 769 new homes in Summerlin in 2016, up 28 percent from 2015. Buyers also picked up 564 new homes in Inspirada, up 45 percent, according to real estate consulting firm RCLCO.

 
Among U.S. master-planned communities — sprawling projects with housing, parks and other components — Summerlin was No. 5 for new-home sales and Inspirada was No. 7.

No other Las Vegas Valley community cracked RCLCO’s top-20 list, released Wednesday. The company said it would publish a list of the top 50-selling communities in the next few days.

 

Summerlin runs along the western rim of the Las Vegas Valley, covering 22,500 acres. More than 100,000 people live there, or about 5 percent of Clark County’s total population.

Its developer, Dallas-based Howard Hughes Corp., sold 213.5 acres in Summerlin — almost all residential land — in the first nine months of 2016. That was up 51 percent from the same period in 2015.

Average land prices, however, fell sharply.

Howard Hughes booked an average of $405,000 per acre through September last year, down 35 percent from same period in 2015, according to a securities filing.

The shift came after Howard Hughes sold 147 acres in March for $40 million to Pulte Homes for a planned 300-acre project that has been on the drawing board for a decade.

Inspirada, in Henderson, covers more than 1,500 acres at the southern edge of the valley. Its builders include Beazer Homes, Century Communities, KB Home, Pardee Homes and Toll Bros.

Overall last year, builders in Las Vegas sold more homes and pulled more permits than they did in 2015.

Builders closed 7,035 new-home sales in Clark County last year through November, up 14.5 percent from the same 11-month period in 2015, according to Las Vegas housing tracker Home Builders Research.

Builders also pulled 6,999 permits through November, up 13.5 percent.

 

Sales totals remain a fraction of what they were during the bubble years last decade, when Las Vegas was flooded with easy money for builders and buyers alike, but they’re up from the depths of the recession.

Buyers picked up almost 39,000 new homes in Clark County in 2005 alone. In 2011, after the bubble burst and the economy went into a tailspin, builders sold 3,900 homes, according to Home Builders Research.

By ELI SEGALL
LAS VEGAS REVIEW-JOURNAL

Contact Review-Journal writer Eli Segall at 702-383-0342 or esegall@reviewjournal.com. On Twitter at @eli_segall

Mastura Roberts
(702) 919-5400
offers@greatlasvegashomes.com

Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052

With over 30 years of experience helping families call Las Vegas "home!"



Related Blog Posts

Luxury Caribbean Homes for Sale and for Fun

This year I decided to take a cruise to the Caribbean for my birthday, and I saw some pretty amazing real estate along the way! I thought it would be fun to share some photos of the luxury custom homes I saw overlooking the emerald blue waters surrounding Tortola, Antigua, Barbados, St. Lucia and St. Barts. Our first...

“But my Zestimate is higher than that”: 11 Things Sellers Should Know About Zillow's "Zestimate" calculations

Key Takeaways         Zestimates do not take the finishes or updates into account -- the insides of the properties.         Agents should describe to sellers how the Zestimate is calculated, and they can use the explanations on Zillow's own...

7133 BOCAIRE Drive, Las Vegas NV 89131

...

Another Client Success Story with Great Las Vegas Homes Agent Marcell Appelgren

I had the pleasure of meeting Lamberto Valdez and his Wife on short notice as they pulled into Las Vegas with no knowledge of the Las Vegas Market. They told me that the last Realtor they met didn't show them any other areas but the Strip.  I had them get into my car and off we went to view all of Las Vegas has to...

Tired of Losing out to Cash Buyers?

Tired of losing out to cash buyers on the Las Vegas homes of your dreams? You must get completely pre-approved for a loan before submitting an offer, and you must be able to close quickly once that offer has been submitted. So we found a mortgage lender who could help our clients compete in multiple offer situations.So...

Leave a Comment

Have a Question?

Contact Us

Follow Us