Rob's Report - November 2022

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Rob's Report

22

DRIFTING SHADOW WAY

Summerlin

NOVEMBER 2022
Guard-Gated |
| The
Modern living meets traditional design at this custom two-story home, securely located behind a secondary gate in Azure, one of fourteen distinct gated neighborhoods within The Ridges—an ultrachic guard-gated community that houses the city’s elite. Pinnacle Architectural Studio spared no cost creating the warm and inviting interior, which boasts distressed ceramic tile, cove mood lighting, and a plethora of natural stone and wood finishes. Thoughtfully placed pocket doors throughout the home provide a sublime indoor/outdoor flow to the generous travertine patio, outdoor kitchen, PebbleTec pool, and zero-edge spa. $4,250,000 | 4,734 SF | 4 Bedrooms | 6 Bathrooms
Ridges

Sold Properties

Dear Friends,

There’s a lot going on in the world and a lot of speculation on what might happen next—whether that’s concerning the stock market, the war in Ukraine, or real estate prices. We can’t see the future, but we can share the current temperature of the guard-gated real estate market in Las Vegas. In October, guard-gated sales were down 13.6% over September, while inventory stayed about the same month over month.

Every house and every situation is different, but each price range has its own microclimate—gauged by its absorption rate, which is a good measure of supply and demand. For example, there’s about a 6-month supply of homes priced between $500,000 and $750,000. That number is closer to 30 months for homes priced at $4,000,000 and above. These numbers only provide a starting point, however. If you’re looking to buy or sell in today’s market, we really need to talk on the phone—or preferably in person.

If you’re not looking to move right now but might consider it in the future, now is a great time to consider renovations if necessary. This will give you time to not only enjoy the changes for yourself, but also maximize the profits from your home sale—whenever that might be. The #1 complaint we hear from buyers all the time is: “The house is dated and needs too much work.” If you have the time and funds to make changes now, we advise you to do so. Since most of our clients want their house on the market yesterday, they usually don’t like the thought of taking a couple of weeks (or even months) to prepare it for sale.

We hope your holiday season is off to a great start, and we look forward to hearing from you soon!

Sincerely,

Rob Jensen

Broker / Owner

702.605.7480 rob@robjensen.com B.143770

GUARD-GATED

COMMUNITY ADDRESS SF PRICE P/SF

SUMMERLIN

Corta Bella 8824 Rozetta Court 3,946 $700,000 $177

Country Club Hills 2052 Glenview Drive 3,192 $1,530,000 $479

Eagle Hills 9220 Golden Eagle Drive 5,641 $2,500,000 $443

Mountain Trails 9825 Glenrock Drive 8,140 $3,775,000 $464

The Palisades 200 Surtees Point Street 5,252 $2,400,000 $457

Red Rock Country Club 2393 Calico Creek Court 4,121 $1,550,000 $376

11433 Glowing Sunset Lane 4,080 $1,936,000 $475

11276 La Madre Ridge Drive 3,601 $1,117,000 $310

2922 Soft Horizon Way 3,455 $1,750,000 $507

Reverence 3013 Dusky Willow Lane 2,542 $975,000 $384 10950 Red Yucca Drive 2,123 $1,200,000 $565

The Ridges 8 Midnight Ridge Drive 4,933 $3,625,000 $735

70 Pristine Glen Street 4,172 $1,880,000 $451

51 Sun Glow Lane 5,952 $4,900,000 $823

The Vineyards 10817 Beringer Drive 3,658 $1,325,000 $362

COMMUNITY ADDRESS SF PRICE P/SF

LAS VEGAS

Canyon Gate 1924 Bay Hill Drive 2,231 $800,000 $359

One Queensridge Place 9103 Alta Drive, #904 3,100 $1,675,000 $540

Queensridge 9633 Gavin Stone Avenue 2,773 $1,055,000 $380

701 Jody Brook Court 2,989 $899,000 $301

900 Pont Chartrain Drive 3,936 $1,650,000 $419

9313 Verlaine Court 4,716 $1,700,000 $360

Southern Highlands 43 Olympia Hills Circle 7,256 $5,250,000 $724

8 Olympia Ridge Drive 6,250 $2,800,000 $448

49 Olympia Ridge Drive 6,103 $2,600,000 $426

24 Tea Olive Drive 3,904 $1,375,000 $352

12091 Whitehills Street 4,566 $2,200,000 $482

Spanish Hills 5148 Spanish Heights Dr 15,218 $8,560,000 $562

Spanish Trail 12 Princeville Lane 6,415 $1,650,000 $257

Tuscan Cliffs 4261 San Alivia Court 4,240 $1,750,000 $413

11106 Villa Bellagio Drive 6,664 $3,800,000 $570

11346 Villa Bellagio Drive 5,304 $1,800,000 $339

HENDERSON

Anthem Country Club

30 Brays Island Drive 3,813 $1,700,000 $446

60 Desert Highlands Drive 3,037 $1,276,000 $420

12 Emerald Dunes Circle 1,833 $662,500 $361

14 Emerald Dunes Circle 1,268 $550,000 $434

11 Feather Sound Drive 1,942 $660,000 $340

53 Feather Sound Drive 1,942 $638,000 $329

77 Fountainhead Circle 2,678 $1,024,600 $383

16 Hassayampa Trail 3,600 $1,675,000 $465

2 Holston Hills Road 2,678 $1,150,000 $429

5 Isleworth Drive 4,979 $1,450,000 $291

16 Plum Hollow Drive 3,216 $1,900,000 $591

31 Sankaty Circle 5,561 $2,550,000 $459

Hillsboro Heights 1886 Fairfield Terrace 5,028 $1,050,000 $209

MacDonald Highlands 674 Dragon Point Drive 7,679 $5,830,000 $759

1320 Enchanted River Dr 5,555 $2,150,000 $387

648 Scenic Cliff Drive 2,827 $2,495,000 $883

611 Scenic Rim Drive 6,116 $3,600,000 $589

Seven HillsTerracina/Venezia 1531 Villa Rica Drive 7,353 $3,800,000 $517

Monica

Director of Sales

702.605.7480 monica@robjensen.com S.179807

Guard-Gated | Summerlin | The Ridges 22 DRIFTING SHADOW WAY No closed sales for the month of October in Aventura, Bellacere, Canyon Fairways, Country Rose Estates, Eagle Rock, Mesa Ridge, The Summit Club, Tournament Hills, Willow Creek, Regency at the Lakes, Ten Oaks, Ascaya, The Fountains, Legacy Estates, Roma Hills, and Seven Hills - Rapallo
OCTOBER 2022
OCT 2021 SEP 2022 OVER OCT '21 OVER SEP '22 OCT 2022 OCTOBER '21 95 SEPTEMBER '22 66 -40% -13.6% OCTOBER '22 57 CLOSED SALES 10/31/21 130 9/30/22 89 -43.8% -18% 10/31/22 73 UNDER CONTRACT 10/31/21 250 9/30/22 451 +80.8% +0.2% 10/31/22 452 ACTIVE LISTINGS MONTHLY & YEARLY Market Trends *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), 10/31/22. 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. PRICE RANGE FOR SALE UNDER CONTRACT SOLD EXPIRED ABS* RATE (MONTHS) $500K-$749K 39 12 8 4 5.7 $750K-$999K 66 8 5 2 7.4 $1M-$1.49M 90 14 14 2 6.5 $1.5M-$1.99M 72 10 13 4 9.1 $2M-$2.49M 50 5 4 4 13.8 $2.5M-$2.99M 26 4 4 2 5.0 $3M-$3.99M 30 10 5 3 8.9 $4M+ 79 10 4 6 29.7 GUARD-GATED SALES STATS How's the Market? OCTOBER 2022

Boasting over $900,000 in renovations, this designer dream home sets a high standard of living in Silver Ridge—one of fourteen distinct gated neighborhoods within The Ridges, an ultra-chic guard-gated community that houses the city’s elite. Here, you can enjoy an indoor/outdoor lifestyle like no other—with 12’ ceilings on the main level, a thoughtfully-designed open floor plan, and oversized glass sliders that connect the great room to the courtyard and backyard. Upgrades to this modern smart home include French oak hardwood flooring, closets and pantries by California Closets, Restoration Hardware light fixtures, Control4 home automation with whole-home sound, and more!

11448
Guard-Gated | Summerlin | The Ridges $3,900,000 | 4,340 SF | 4 Bedrooms | 5 Bathrooms
OPAL SPRINGS WAY

A wonderful way of life awaits at this stunning single-story home in Talaverde—a gated community located in The Vistas, a Summerlin Village. Beyond the front courtyard and brand-new triple-bolt door, discover a gorgeous interior with hardwood floors, new light fixtures, and renovated bathrooms featuring new countertops and repainted knotty pine cabinetry. Less than a mile away, The Vistas Park offers 24 acres of outdoor recreation, a community center, and a swimming pool. Fine and casual dining and upscale retail shopping can be found less than three miles away at Downtown Summerlin, home of City National Arena and the Las Vegas Ballpark.

11734 STONEWALL SPRINGS AVENUE Gated | Summerlin | Talaverde $800,000 | 2,058 SF | 3 Bedrooms | 3 Bathrooms
10785 W. Twain Avenue, Suite 110, Las Vegas, NV 89135 702.605.7482 | robjensen.com TM JUST SOLD | $1,450,000 198 COURTNEY ANN DRIVE HILLSBORO HEIGHTS JUST SOLD | $1,650,000 900 PONT CHARTRAIN DRIVE QUEENSRIDGE

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