Rob's Report - September 2021

Rob's Report SUMMERLIN, LAS VEGAS, & HENDERSON

1 D O V E TA I L C I R C L E Q U A I L R I D G E E S TAT E S

$2,500,000 | 7,150 SF 5 Bedrooms, 7 Bathrooms Custom Two-Story

Incomparable privacy and outstanding amenities await at this twostory mansion, constructed with real brick masonry on over half an acre in Quail Ridge Estates—a guard gated Henderson community in Green Valley North. Beyond the expansive horseshoe driveway and gated motor court, discover over 7,000 square feet of luxurious living space, a curated collection of smart home technology, a verdant rear yard with a Pebble Tec pool and spa, and more.

SEPTEMBER 2021

1 D O V E TA I L C I R C L E | Q U A I L R I D G E E S TAT E S Dear Friends, The numbers are in for August, but before you jump to any conclusions, it’s important to go through all of the information to understand how the pieces fit together. There are 233 guard gated homes for sale as of 8/31/21—down 8.3% over July’s inventory (254 homes) and down 48.1% over last August’s inventory (449 homes). Inventory this low means the market will remain competitive for quite some time. As of 8/31/21, there were 129 properties under contract—down from 135 in July (-4.4%) and 159 last August (-18.9%).

Lower sales volume like this is not surprising when you consider the decreased inventory; buyers are having a harder time finding what they want. Finally, August saw 104 closed sales compared to 134 in July and 109 in August 2020. On a year-over-year basis, closed sales were down only 5% while inventory was down 48.1%. This means we’re still in a seller’s market and will continue to be for the foreseeable future.

Here are some additional factors to keep in mind: • Enhanced unemployment benefits for Nevada ended on 9/4.

• Evictions are allowed, but can be protested. If you’d like more information, I recommend looking into Assembly Bill 486, which expires 6/2023, and the CARES Housing Assistance Program (CHAP).

I expect all of the above to help the luxury market. The majority of homeowners in guard gated communities are business owners and investors. More people returning to work will benefit many of our clients.

If you have any questions—or if you would like to know how much we could sell your home for in this seller’s market—please give us a call.

Sincerely,

Rob Jensen Broker / President 702.605.7480 B.143770

Monica Nalbantoglu Director of Sales 702.605.7480 S. 179807

AUGUST 2021

Sold Properties COMMUNITY

ADDRESS

Guard Gated

SF

PRICE

P/SF

3,023

$1,040,000

$344

SUMMERLIN Aventura

9908 Alegria Drive

COMMUNITY

ADDRESS

SF

PRICE

P/SF

8632 Canyon View Drive

5,763

$1,575,000

$273 $195

LAS VEGAS Canyon Gate

10001 Mirada Drive

3,423

$1,250,000

$365

8620 Lakeridge Circle

4,884

$950,000

112 Tesoro Drive

3,023

$1,300,000

$430

9017 Opus Drive

3,029

$1,000,000

$330

Canyon Fairways 9252 Tournament Canyon Dr

5,391

$2,000,000

$371

8717 Robinson Ridge Drive

5,674

$1,150,000

$203

Country Club Hills

1701 Glenview Drive

4,369

$1,490,000

$341

Country Rose Estates

2212 Scarlet Rose Drive

Red Rock Country Club

3338 Dove Run Creek Drive

2,508

$1,035,000

$413

11256 Parleys Cone Court

2,325

$925,000

$398

11501 Timber Mountain Ave

4,421

$1,350,000

$305

11471 Timber Mountain Ave

3,489

$1,255,000

$360

10901 Eastern Redbud Ct

2,506

$1,125,000

$449

Reverence

The Ridges

The Summit

2,934

$720,000

$245

2891 Raywood Ash Drive

3,102

$1,175,000

$379

10970 Red Yucca Drive

2,123

$1,000,000

$471

11261 Watershed Court

4,099

$1,800,000

$439

15 Coralwood Drive

3,776

$2,550,000

$675

6 Garden Shadow Lane

4,172

$1,870,000

$448

57 Hawk Ridge Drive

7,032

$7,500,000 $1,067

32 Midnight Ridge Drive

4,361

$2,525,000

$579

14 Misty Peaks Court

7,747

$3,700,000

$478

4821 Meridian Pass Way

3,505

$7,500,000 $2,140

The Vineyards

1417 French Merlot Court

3,888

$1,295,000

$333

Willow Creek

10879 Eden Ridge Avenue

3,091

$1,190,000

$385

10729 Grey Havens Court

3,535

$830,000

$235

2961 Hammerwood Drive

4,016

$1,250,000

$311

10755 Hobbiton Avenue

3,792

$1,050,000

$277

10776 Penhurst Way

4,016

$1,600,000

$398

One Queensridge 9101 Alta Drive, #507 Place 9101 Alta Drive, #706

2,271

$1,150,000

$506

2,137

$1,099,000

$514

Queensridge

9716 Camden Hills Avenue

3,425

$820,000

$239

904 Granger Farm Way

2,711

$650,000

$240 $276

Southern Highlands

Spanish Trail

9833 Miss Peach Avenue

1,942

$536,000

9321 Queen Charlotte Drive

4,053

$1,330,000

$328

9516 Royal Lamb Drive

3,077

$895,000

$291

9605 Verlaine Court

5,254

$1,659,000

$316

3290 Birchwood Park Circle

3,165

$1,250,000

$395

12047 Oakland Hills Drive

3,703

$1,687,000

$456

64 Olympia Canyon Way

8,684

$4,319,028

$497

69 Olympia Canyon Way

6,350

$2,850,000

$449

14 Pink Dogwood Drive

3,904

$1,300,000

$333 $354

11846 Waterford Castle Ct

2,189

$775,000

43 Gulf Stream Court

4,786

$990,000

$207

12 Princeville Lane

6,415

$1,475,000

$230

Ten Oaks

1700 Silver Oaks Street

5,034

$1,645,000

$327

Tuscan Cliffs

11212 San Terrazo Place

5,891

$3,600,000

$611

HENDERSON Anthem Country Club

No closed sales for the month of August in Bellacere, Corta Bella, Eagle Hills, Eagle Rock, Mountain Trails, The Palisades, Tournament Hills, Regency at the Lakes, Spanish Hills, Ascaya, Legacy Estates and Roma Hills.

The Fountains

8 Anthem Pointe Court

5,439

$1,928,000

$354

18 Bloomfield Hills Drive

7,319

$2,575,000

$352

1 Dry Brook Trail

4,511

$1,835,000

$407 $410

10 Emerald Dunes Circle

1,940

$795,000

22 Feather Sound Drive

3,895

$1,125,000

$289

103 Fountainhead Circle

1,942

$1,150,000

$592

44 Fountainhead Circle

1,792

$669,900

$374

5 Golf Crest Court

3,943

$3,000,000

$761

11 Hunt Valley Trail

1,616

$650,000

$402

31 Isleworth Drive

4,607

$1,575,000

$342

67 Isleworth Drive

3,876

$1,555,000

$401

49 Isleworth Drive

3,085

$1,105,000

$358

6 Marsh Landing Court

3,600

$1,549,000

$430

2254 Buckingham Court

Hillsboro Heights 1890 Fairfield Terrace 187 Harvard Court MacDonald Highlands

3,895

$1,450,000

$372

3,330

$825,000

$248

3,950

$828,000

$210

$1,045,000

$226

1889 Hillsboro Drive

4,628

681 Dragon Peak Drive

9,534

1437 Foothills Village Drive

3,999

$12,250,000 $1,285 $1,150,000

$288

584 River Dee Place

5,587

$2,100,000

$376

1350 Imperia Drive

8,765

$3,000,000

$342

2605 Ragusa Court Seven Hills Terracina/Venezia

5,875

$1,925,000

$328

Seven Hills Rapallo

AUGUST 2021

How's The Market?

PRICE RANGE

Guard Gated Sales Statistics

FOR SALE

UNDER CONTRACT

SOLD

EXPIRED

ABS* RATE (MONTHS)

$500K-$749K

10

18

22

0

1.3

$750K-$999K

29

28

21

2

2.0

$1M-$1.49M

41

26

33

2

2.2

$1.5M-$1.99M

32

16

13

1

3.4

$2M-$2.49M

19

8

3

4

4.2

$2.5M-$2.99M

11

8

4

0

4.8

$3M-$3.99M

26

15

4

2

6.3

$4M+

65

10

4

4

10.0

*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), 8/31/21. 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 AUG 2021 OVER JUL '21

JUL 2021 OVER AUG '20

AUG 2020

Monthly & Yearly

104

CLOSED SALES AUGUST '21

129

UNDER CONTRACT 08/31/21

233

ACTIVE LISTINGS 08/31/21

-22%

-4.4%

-8.3%

134

135

254

CLOSED SALES J U LY ' 2 1

-5%

109

CLOSED SALES AUGUST '20

UNDER CONTRACT 07/31/21

-18.9%

159

UNDER CONTRACT 08/31/20

ACTIVE LISTINGS 07/31/21

-48.1%

449

ACTIVE LISTINGS 08/31/20

3093 RED ARROW DRIVE R E D R O C K C O U N T RY C L U B $5,250,000 | 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, 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, and an immaculate owner’s suite. Optional club member amenities include a fitness center, 9 tennis courts, 3 swimming pools, a complete spa facility, and more. Inventory is shrinking, so call us today while this opportunity is still available.

1 7 8 6 A M A R O N E WAY ROMA HILLS $1,700,000 | 5,442 SF 4 Bedrooms, 5 Bathrooms Custom Two-Story

Mountain views and unrivaled serenity await at this custom two-story home—built on a .29-acre lot in Roma Hills, a 24-hour guard gated community located in the quiet foothills of Green Valley. Chiseled travertine tile, stacked stone, and wrought iron details define this property’s timeless Old World aesthetic. Greet your guests beneath 22’ ceilings in the foyer and welcome them to over 5,400 square feet of luxury living and entertaining space—plus a spacious rear yard with a pool and spa, backdropped by a tranquil hillside.

1 1 1 6 0 E M O RY O A K D R I V E REVERENCE $1,750,000 | 4,273 SF 5 Bedrooms, 5 Bathrooms Two-Story

This modern two-story home presents stunning mountain views in Reverence—an esteemed, guard gated, Summerlin community developed exclusively by Pulte Homes. Modern finishes include transitional window shades, 27” porcelain tile, and quartz countertops, but it is Reverence’s elevated lifestyle that truly sets this property apart. The community’s 16,000-square-foot indoor/outdoor Clubhouse features a state-of-the-art fitness center, an aerobics room, an event lawn, pickleball courts, a lap pool, and a resort-style, beach-entry pool with cabanas. Reverence presents inspiration and adventure in every direction.

JUST SOLD

11690 EVERGREEN CREEK LANE RED ROCK COUNTRY CLUB

$2,579,000

JUST SOLD

10729 GREY HAVENS COURT WILLOW CREEK

robjensenco

robjensenco

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

$830,000