ROB'S REPORT
SUMMERLIN, L AS VEGAS, & HENDERSON MARCH 2021
2714 RED ARROW DRIVE
#2714RedArrow
RED ROCK COUNTRY CLUB | $3,000,000 5,444 Square Feet | 4 Bedrooms | 5 Bathrooms | Custom Two-Story In the 24-hour guard gated community of Red Rock Country Club, safely tucked behind a secondary gate in The Estates, this custom two-story home boasts frontage on the 2nd fairway of the private Mountain golf course. Beyond the verdant courtyard, discover a gorgeous interior featuring travertine flooring, natural stone details, and picture windows to celebrate the view. Standout features of this property include 23’ ceilings in the living room, a surround-sound media room with a 125” projector screen, and a tranquil rear yard with a Pebble Tec pool and spa.
Dear Friends, The luxury real estate market is white-hot! February closed sales were up 55% over last year, and inventory was down 34.1%. These conditions are creating an extremely competitive marketplace and pushing prices upward. We’re also seeing multiple offers on many of the sales happening right now, especially for our sellers. Here is some advice on how to best deal with multiple-offer situations. If you are a seller and have multiple offers on your property, it can be very exciting. Commonly, when there are multiple offers, each buyer will receive a response from the seller asking for their “highest and best.” This is a typical strategy used by agents to get buyers to put their best offer forward. However, it’s a lazy strategy. To get the highest price possible, your best bet is to use a multiple counteroffer form to counter each buyer individually. This form enables sellers to respond to multiple offers without getting bound to any single offer (unless they sign off on it). Asking buyers to blindly increase their bids rarely results in the best offer possible. To push the envelope, you’re better off asking for what you want. The best way for buyers to handle a multiple-offer situation is to get educated. I always say the same thing to buyers: “I will never push you to buy, but I will push you to get educated.” You have to know the market and your options, so you can make a knowledgeable and confident decision when the right opportunity comes along. In this market, if you get too carried away trying to negotiate a lower price, just know that you might lose the property. Sometimes buyers shy away from multiple-offer situations because they don’t want to end up in a bidding war. This is understandable, but just because there are other offers on the table doesn’t necessarily mean they are good offers. They might have poor terms or a low price, so make the best offer you are comfortable with and be ready to move fast. Whether you’re buying or selling in this white-hot market, you know how to reach us if you want results. Sincerely, Rob Jensen Broker / President 702.605.7480 B.143770
SOLD PROPERTIES | GUARD GATED | FEBRUARY 2021 ADDRESS
SF
PRICE
ADDRESS
P/SF
PRICE
P/SF
620 Canyon Greens Drive
5,880
$2,995,000
$509
2212 Bay Hill Drive
3,665
$755,625
$206
701 Canyon Greens Drive
6,004
$1,575,000
$262
8900 Rainbow Ridge Drive
3,146
$816,000
$259
500 Royalton Drive
5,037
$1,620,000
$322
9017 Robinson Ridge Drive
3,029
$765,000
$253
501 Royalton Drive
5,145
$1,449,000
$282
Queensridge 809 Aquitaine Court
4,974
$1,200,000
$241
8828 Bonta Court
2,700
$627,000
$232
9800 Camden Hills Avenue
3,679
$730,000
$198
8829 Cortile Drive
4,060
$900,000
$222
301 Covent Garden Court
4,140
$775,000
$187
1900 Vero Drive
2,745
$700,000
$255
9320 Fontainbleu Drive
4,002
$900,000
$225
9721 Gavin Stone Avenue
3,679
$859,000
$233
9809 Miss Peach Avenue
2,033
$430,000
$212
9813 Queen Charlotte Drive
3,665
$857,000
$234
9705 Royal Lamb Drive
2,640
$750,000
$284
9517 Verlaine Court
4,690
$1,300,000
$277
9324 Verlaine Court
5,940
$1,830,000
$308
Corta Bella
1817 Wincanton Drive
3,409
$1,050,000
$308
Country Rose Estates 2212 Scarlet Rose Drive
2,934
$610,000
$208
Eagle Hills 2025 Grouse Street
4,964
$1,450,000
$292
LAS VEGAS
Country Club Hills
Eagle Rock
Southern Highlands
524 Pinnacle Heights Lane
3,322
$775,000
$233
84 Carolina Cherry Drive (REO)
4,990
$1,250,000
$251
704 Pinnacle Heights Lane
3,610
$745,000
$206
39 Vintage Canyon Street
6,750
$4,900,000
$726
620 Proud Eagle Lane
3,763
$900,000
$239
11786 Weybrook Park Drive
2,172
$698,000
$321
5022 Mountain Creek Drive
5,729
$1,800,000
$314
5086 Scenic Ridge Drive
7,567
$1,500,000
$198
5078 Spanish Hills Drive
7,714
$2,815,000
$365
6,556
$1,150,000
$175
6,034
$2,188,297
$363
Mountain Trails 9900 Glenrock Drive
Spanish Hills 5,713
$1,899,000
$332
The Palisades 429 Grand Augusta Lane
5,446
$1,775,000
$326
Red Rock Country Club
Spanish Trail
11358 Cedar Log Court
2,508
$669,900
$267
17 Vintage Court
3308 Dove Run Creek Drive
4,402
$1,237,560
$281
Tuscan Cliffs
2835 Evening Rock Street
4,899
$1,610,000
$329
11262 San Terrazo Place
2546 Grassy Spring Place
4,443
$1,530,000
$344
2481 Hollow Rock Court
2,712
$830,000
$306
Anthem Country Club
11276 La Madre Ridge Drive
3,601
$860,000
$239
33 Anthem Creek Circle
2107 Orchard Mist Street
4,274
$1,375,000
$322
2 Awbrey Court
2813 Red Springs Drive
2,508
$970,000
$387
2861 Red Springs Drive
2,508
$775,000
2965 Red Springs Drive
2,508
3067 Red Springs Drive
4,511
$1,240,000
$275
14,975
$4,900,000
$327
26 Brays Island Drive
3,843
$1,175,000
$306
$309
31 Contra Costa Place
3,037
$950,000
$313
$725,000
$289
4 Creeping Bend Court
1,905
$635,000
$333
2,160
$749,000
$347
10 Eagle Chase Court
2,678
$840,000
$314
3075 Soft Horizon Way
4,200
$1,450,000
$345
46 Feather Sound Drive
2,513
$600,000
$239
11295 Winter Cottage Place
3,601
$1,310,000
$364
105 Fountainhead Circle
2,678
$680,000
$254
24 Gladewater Drive
1,905
$625,000
$328
20 Pine Hollow Drive
4,282
$1,850,000
$432
35 Stonemark Drive
3,848
$1,000,000
$260
2324 Caserta Court
8,528
$1,800,000
$211
2228 Chatsworth Court
5,340
$1,000,000
$187
2239 Chatsworth Court
5,885
$1,500,000
$255
5,418
$1,250,000
$231
Reverence 11111 Luna Blanca Drive
3,451
$1,175,000
$340
11120 Luna Blanca Drive
3,451
$1,650,000
$478
10920 Red Yucca Drive
2,430
$835,000
$344
The Ridges 8 Cross Ridge Street 31 Drifting Shadow Way
4,399 6,135
$1,645,000 $2,000,000
$374 $326
HENDERSON
SUMMERLIN
SF
Canyon Gate
Canyon Fairways
The Fountains
15 Garden Rain Drive
3,776
$2,200,000
$583
Legacy Estates
22 Garden Rain Drive
4,172
$1,750,000
$419
181 Inveraray Court
85 Glade Hollow Drive
3,797
$2,337,500
$616
MacDonald Highlands
54 Grey Feather Drive
4,172
$1,510,000
$362
1452 Macdonald Ranch Drive
9,060
$3,500,000
$386
8,258
$4,550,000
$551
11,093
$8,250,000
$744
584 Saint Croix Street
51 Meadowhawk Lane
6,032
$3,090,000
$512
650 Saint Croix Street
8,631
$2,505,000
$290
14 Moonfire Drive
4,172
$1,625,000
$390
1667 Tangiers Drive
5,415
$1,539,900
$284
46 Moonfire Drive
4,618
$2,350,000
$509
Roma Hills
11440 Opal Springs Way
5,047
$2,500,000
$495
1758 Amarone Way
4,105
$1,300,000
$317
63 Panorama Crest Avenue
4,013
$2,088,000
$520
Seven Hills - Rapallo
9 Wild Ridge Court
8,844
$4,400,000
$498
1282 Imperia Drive
4,183
$1,300,000
$311
1362 Opal Valley Street
6,941
$2,400,000
$346
1524 Villa Rica Drive
4,568
$1,375,000
$301
23 Hawk Ridge Drive
Seven Hills - Terracina/Venezia
The Vineyards 1205 Saintsbury Drive
3,434
$875,000
$255
Willow Creek 10755 Hobbiton Avenue
3,792
$838,000
$221
2984 Kedleston Street
3,486
$1,000,000
$287
10796 Penhurst Way
4,859
$1,625,000
$334
10895 Willow Heights Drive
5,799
$1,410,000
$243
No closed sales for the month of February in Aventura, Bellacere, Tournament Hills, Regency at the Lakes, Ten Oaks, and Hillsboro Hights
HOW’S THE MARKET? | GUARD GATED SALES STATISTICS - FEBRUARY PRICE RANGE
FOR SALE
UNDER CONTRACT
SOLD
EXPIRED
ABS* RATE (MONTHS)
$500K-$749K
24
42
25
1
2.8
$750K-$999K
19
37
28
1
2.3
$1M-$1.49M
30
54
24
2
4.1
$1.5M-$1.99M
17
33
20
1
3.1
9
16
9
1
2.8
$2.5M-$2.99M
11
6
4
1
5.7
$3M-$3.99M
18
14
2
2
10.7
$4M+
50
18
6
0
11.3
$2M-$2.49M
*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), 02/28/21. 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 | FEBRUARY
FEB '21
CLOSED SALES
MONTHLY & YEARLY
02/28/21
UNDER CONTRACT
02/28/21
ACTIVE LISTINGS
118 220 398
Over JAN '21
+27%
+14%
-7%
Over FEB '20
+55%
+50.7%
-34.1%
JAN '21
93
193
428
FEB '20
76
146
604
TOP 10 SALES OF 2020!
#1: $14,500,000
7 FALCON VIEW COURT 14,464 SF | THE RIDGES
#2: $11,250,001
750 DRAGON RIDGE DRIVE 14,486 SF | MACDONALD HIGHLANDS
#3: $11,250,000
#4: $10,150,000
17,562 SF | MACDONALD HIGHLANDS
14,918 SF | THE RIDGES
770 DRAGON RIDGE DRIVE
5 PROMONTORY POINTE LANE
#5: $10,000,000
#6 (TIED): $7,400,000
11,211 SF | THE RIDGES
3,266 SF | THE SUMMIT
#6 (TIED): $7,400,000
#8: $7,320,000
8,860 SF | THE RIDGES
13,255 SF | THE RIDGES
4 SOARING BIRD COURT
27 HAWK RIDGE DRIVE
11639 DISCOVERY CANYON DRIVE
7 SABLE RIDGE COURT
#9: $7,300,000
5228 SPANISH HEIGHTS DRIVE 16,425 SF | SPANISH HILLS
#10: $7,000,000
731 DRAGON RIDGE DRIVE 11,375 SF | MACDONALD HIGHLANDS
#11280GraniteRidge
11280 GRANITE RIDGE DRIVE, UNIT 1119 THE RIDGES | $1,050,000
3,211 Square Feet | 4 Bedrooms | 4 Bathrooms | Two-Story Low-maintenance living meets luxury design at this modern two-story condo in Fairway Hills, the only condominium community in The Ridges—an ultra-chic guard gated community built around the sweeping fairways of Bear’s Best Las Vegas. Residents enjoy exclusive access to a private park with cabanas and barbecues, as well as a community Clubhouse overlooking the golf course. Amenities include a fitness center with cardio and weight training equipment, a kitchen/lounge area, and a resort-style pool and spa. Residents also have access to the 9,000-square-foot Club Ridges private community center, which includes a stateof-the-art fitness center, multi-depth swimming pool, year-round heated lap pool, and multi-court lighted tennis facilities.
10785 W. Twain Avenue, Suite 110 Las Vegas, NV 89135 B.0143770.LLC
SOLD $2,350,000
SOLD $2,088,000
46 MOONFIRE DRIVE
63 PANORAMA CREST AVENUE
SOLD $1,650,000
SOLD $1,625,000
3770 CAESARS CIRCLE
14 MOOONFIRE DRIVE
THE RIDGES
THE RIDGES
VERDE VALLE ESTATES
THE RIDGES
SOLD $1,200,000
SOLD $900,000
SOLD $816, 000
809 AQUITAINE COURT
620 PROUD EAGLE LANE
8900 RAINBOW RIDGE DRIVE
QUEENSRIDGE
robjensenco
EAGLE ROCK
robjensen.com
CANYON GATE
702.605.7480