Rob's Report SUMMERLIN, LAS VEGAS, & HENDERSON
1947 ORCHARD MIST STREET R E D R O C K C O U N T RY C L U B
$1,950,000 | 4,107 SF 4 Bedrooms, 4 Bathrooms Two-Story
Overlooking the first hole of the Arroyo golf course, this two-story home enjoys stunning fairway and mountain views in the 24-hour guard-gated community of Red Rock Country Club. Featuring pocket doors that open to the covered patio, the great room has been designed to maximize the view and provide sublime indoor/ outdoor living. With the peaceful golf course and mountains as your backdrop, you can sunbathe on the deck, lounge in the infinity pool, or relax in the spa.
M AY 2 0 2 2
APRIL 2022
Sold Properties COMMUNITY
ADDRESS
SF
Guard-Gated PRICE
SF
PRICE
P/SF
708 Charbonne Place
3,886
$2,205,000
$567
$550
800 Pont Chartrain Drive
4,414
$1,600,000
$362
9621 Verlaine Court
6,104
$2,700,000
$442
10033 Fox Springs Drive
3,274
$1,025,000
$313
11785 Canons Brook Drive
2,172
$815,000
$375
3843 Glasgow Green Drive
5,924
$1,950,000
$329
58 Grand Masters Drive
4,628
$2,100,000
$454
P/SF
SUMMERLIN Bellacere
$3,250,000
$539
Country Club Hills
2000 Glenview Drive
5,274
$1,640,000
$311
2040 Glenview Drive
3,192
$1,200,000
$376
Eagle Hills
1908 Red Robin Court
4,595
$2,150,000
$468
Eagle Rock
9733 Plateau Heights Place
3,192
$1,100,000
$345
608 Proud Eagle Lane
3,664
$1,342,500
$366
5184 Fading Sunset Drive
4,725
$1,368,136
$290
10794 White Clay Drive
3,601
$1,255,277
$349
3234 Dove Run Creek Drive
4,564
$1,950,000
$427
2904 Dove Run Creek Drive
3,455
$1,900,000
$550
11605 Evergreen Creek Lane
3,823
$1,900,000
$497
11224 Golden Chestnut Place
2,712
$1,400,000
$516
2355 Green Mountain Court
3,455
$1,665,000
$482
2880 Peaceful Grove Street
4,410
$2,000,000
$454
2563 Red Arrow Drive
7,577
$4,200,000
$554
Dear Friends, On a year-over-year basis, pending sales are down 35.4% and closed sales are down 37%. However, this can’t be attributed to low inventory alone because the number of homes for sale is actually up 9.7% over last year. There are three drivers causing home sales to slow down. First, prices are up significantly; the huge appreciation the market has seen has left many buyers on the sidelines. Second, interest rates are on the rise, which will continue to contribute to the slowdown. Last but not least, there are still many overpriced homes on the market that buyers are not taking seriously.
If you look at the Absorption Rate chart, you’ll see that homes priced between $500,000 and $2,500,000 are enjoying a much stronger seller’s market than homes priced over $2,500,000. We expect to see single-digit appreciation this year, and as always, the properties that show the best will continue to sell the fastest for the highest price. We recommend renovations to many of our sellers these days because we’ve seen the huge returns it has given them. It’s almost like flipping your own house. However, we understand renovations are not for everyone and are definitely not mandatory. Whether you plan to sell now or later, we’d love to hear your goals and help you get there. Now, if only the wind would stop so everyone can enjoy their swimming pools as the days get hotter! Sincerely,
Rob Jensen Broker / President 702.605.7480 rob@robjensen.com B.143770
Monica Nalbantoglu Director of Sales 702.605.7480 monica@robjensen.com S. 179807
$3,135,000
6,031
Red Rock Country Club
As of April 30th, 2022, there were 226 guard-gated single-family homes for sale. In order to gain perspective on how much inventory has changed, it’s helpful to look at April 2018, when there were 391 homes for sale. Inventory is 42.2% lower than it was four years ago. This shortage in supply has continued to push prices higher. There were 147 pending sales in April 2018, which is right in between the numbers for March and April of this year. This indicates that demand is about the same as it was in 2018. Finally, there were 82 closed sales in April 2018—26% less than the 111 sales of April 2022.
5,700
Canyon Fairways 821 Canyon Greens Drive
Mesa Ridge
1 9 4 7 O R C H A R D M I S T S T R E E T | R E D R O C K C O U N T RY C L U B
10201 Summit Canyon Drive
3083 Red Arrow Drive
5,122
$3,000,000
$586
2953 Soft Horizon Way
4,443
$2,310,000
$520
2922 Soft Horizon Way
3,455
$1,530,000
$443
Reverence
3080 Mount Oak Court
2,518
$1,200,000
$477
The Ridges
11280 Granite Ridge Dr, #1061
2,985
$925,000
$310
11280 Granite Ridge Dr, #1123
2,037
$1,095,000
$538
49 Hawk Ridge Drive
8,639
$9,000,000 $1,042
15 Painted Feather Way
7,843
$5,500,000
$701
68 Panorama Crest Avenue
3,766
$2,800,000
$743
91 Sun Glow Lane
4,758
$5,350,000 $1,124
43 Sun Glow Lane
5,794
$4,750,000
$820
Tournament Hills 9025 Grove Crest Lane
10,165
$6,125,000
$603
9029 Grove Crest Lane
6,437
$3,600,000
$559
1101 Pine Island Court
7,319
$3,925,000
$536
The Vineyards
1644 Saintsbury Drive
3,397
$1,290,000
$380
Willow Creek
2971 Hammerwood Drive
3,598
$1,425,000
$396
LAS VEGAS Canyon Gate
COMMUNITY Queensridge
8701 Double Eagle Drive
1,788
$630,000
$352
2200 Glenbrook Way
6,903
$2,520,000
$365
8633 Robinson Ridge Drive
3,308
$1,125,000
$340
One Queensridge 9101 Alta Drive, #805 Place 9101 Alta Drive, #11
3,355
$2,245,000
$669
1,990
$755,000
$379
9103 Alta Drive, #605
3,355
$2,275,000
$678
9103 Alta Drive, #306
2,137
$890,000
$416
Regency at The Lakes Southern Highlands
15 Vintage Canyon Street
10,256
$4,575,000
$446
Spanish Hills
5114 Spanish Hills Drive
12,181
$4,999,000
$410
Spanish Trail
24 Congressional Court
4,462
$872,500
$196
54 Innisbrook Avenue
8,245
$4,000,000
$485
42 Innisbrook Avenue
6,871
$2,300,000
$335
Ten Oaks
7429 Doe Avenue
4,526
$2,195,110
$485
Tuscan Cliffs
4120 San Capri Way
4,992
$1,500,000
$300
6 Ayden Drive
4,062
$2,200,000
$542
8 Belfair Court
3,962
$2,070,000
$522
12 Bloomfield Hills Drive
6,150
$3,782,800
$615
HENDERSON Anthem Country Club
The Fountains
24 Brookridge Drive
3,085
$1,900,000
$616
11 Canoa Hills Drive
3,693
$1,220,000
$330
19 Club Vista Drive
3,942
$2,300,000
$583
1 Emerald Dunes Circle
1,833
$745,000
$406
10 Fallows Fire Court
1,393
$750,000
$538
3 Fountainhead Circle
2,043
$825,000
$404
28 Highland Creek Drive
7,094
$2,200,000
$310
20 Holston Hills Road
2,513
$1,425,000
$567
22 Mallard Creek Trail
4,025
$1,737,500
$432
20 Pine Hollow Drive
4,282
$2,270,000
$530
29 Plum Hollow Drive
3,216
$1,850,000
$575
2226 Chatsworth Court
6,941
$2,850,000
$411
2239 Chatsworth Court
6,100
$2,400,000
$393
2337 Prometheus Court
3,846
$1,275,000
$332
Hillsboro Heights 1869 Woodhaven Drive
7,003
$2,200,000
$314
MacDonald Highlands
1336 Enchanted River Drive
5,267
$2,540,000
$482
1463 Foothills Village Drive
4,124
$1,740,000
$422
1426 Foothills Village Drive
3,739
$1,720,000
$460
1210 MacDonald Ranch Dr
8,495
$8,295,000
$976
667 Palisade Rim Drive
4,999
$4,150,000
$830 $358
Roma Hills No closed sales for the month of April in Aventura, Corta Bella, Country Rose Estates, Mountain Trails, The Palisades, The Summit Club, Ascaya, Legacy Estates, and Seven Hills - Rapallo
ADDRESS
1388 Quiet River Avenue
5,587
$2,000,000
683 Scenic Rim Drive
5,986
$6,450,000 $1,078
487 Serenity Point Drive
3,001
$2,400,000
$800
475 Toucan Ridge Court
5,967
$2,400,000
$402
1769 Harpsichord Way
5,472
$1,620,000
$296
8,480
$2,800,000
$330
3,673
$2,999,000
$816
1535 Teramo Street Seven Hills Terracina/Venezia 1591 Villa Rica Drive
APRIL 2022
How's The Market? PRICE RANGE
Guard-Gated Sales Statistics
FOR SALE
UNDER CONTRACT
SOLD
EXPIRED
ABS* RATE (MONTHS)
$500K-$749K
21
16
9
0
3.4
$750K-$999K
22
13
21
0
1.7
$1M-$1.49M
30
27
24
0
2.3
$1.5M-$1.99M
32
19
15
1
4.3
$2M-$2.49M
19
25
17
3
3.0
$2.5M-$2.99M
21
8
7
1
5.3
$3M-$3.99M
19
11
6
2
5.5
$4M+
62
16
12
3
6.5
*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), 04/30/22. 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.
Market Trends APR 2022
Monthly & Yearly
ACTIVE LISTINGS
UNDER CONTRACT
CLOSED SALES
226
135
111
4/30/22
4/30/22
APRIL '22
OVER MAR '22
+26.3%
-10.6%
+11%
OVER APR '21
+9.7%
-35.4%
-37%
MAR 2022
179 3/31/22
151 3/31/22
MARCH '22
APR 2021
206
209
175
4/30/21
4/30/21
100 APRIL '21
1 0 7 7 1 H O B B I T O N AV E N U E WILLOW CREEK $1,575,000 | 3,792 SF 5 Bedrooms, 5 Bathrooms Two-Story
A wonderful life for you and your family awaits at this two-story home in Wood Glen, a 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 home showcases a beautiful backyard with a lagoon pool and spa, a waterslide, a swim-up palapa bar, a covered patio, and direct access to the neighborhood’s gorgeous green belt, which leads to two tennis courts, a BBQ pavilion, a basketball court, and more.
UNDER CONTRACT
5 6 0 8 B U E N A M A R T I N A WAY SOUTHERN HIGHLANDS $900,000 | 4,086 SF 4 Bedrooms, 5 Bathrooms Single-Story
This single-story home with a generous loft is located in the gated community of Bella Sera in Southern Highlands—a master-planned community in the southern foothills of the Las Vegas Valley. Beyond the courtyard entry, discover a spacious interior boasting high ceilings, travertine flooring, and a thoughtfully designed floor plan. All of the bedrooms are on the main level, so you can enjoy a single-story lifestyle while also having access to a generous loft and balcony with mountain views. Additional highlights of this home include an incredible outdoor kitchen and an expansive great room with 23’ ceilings.
10785 W. Twain Avenue, Suite 110 Las Vegas, NV 89135 702.605.7480 | robjensen.com
JUST SOLD
11447 MORNING GROVE DRIVE RED ROCK COUNTRY CLUB
$3,3000,000
JUST SOLD
2355 GREEN MOUNTAIN COURT RED ROCK COUNTRY CLUB
robjensenco
robjensenco
$1,665,000