So far in 2022, Las Vegas’ master-planned communities have not followed the national trend of declining sales.
The national consulting firm RCLCO said Las Vegas’ master-planned communities had fewer sales than the first six months of 2021, but they held steady in their rankings.
Summerlin continued its top five national showing by coming in at No. 4 in the midyear ranking with 592 sales, a slight decline from the first six months of 2021.
According to midyear rankings, Cadence saw a 4% increase in sales in the first six months of 2022 and finished seventh in the country.
Inspirada, in the western part of Henderson, was No. 12 with 388 sales at midyear ranking. Skye Canyon in northwest Las Vegas jumped in the rankings to No. 18 for the first half of 2022.
These four master-plans are consistently in the top 20 in the entire country. Summerlin had a bit of a drop in sales, but those are issues as they relate to supply chains and a lack of inventory.
Experts say at some point, this rate of increase is going to abate, and they hope to see people getting more comfortable. After all, people need homes, and there are 70,000 people moving to Las Vegas every year.
Pulte and Toll Brothers bought 216 acres off Town Center Drive and Tropicana Avenue for $135 million, where they plan to build hundreds of homes. Grading is underway, and single-family homes are expected to be available in 2023. It will be similar to Mesa Ridge, with prices ranging from $700,000 to $1.5 million, with homes ranging from 3,000 square feet to 5,000 square feet.
Keep in mind that whether you are interested in buying a home or selling a home, a Realtor should represent you—this person is working for your benefit and will help you navigate through the buying or selling process. We have celebrated selling both new and resale homes for over thirty years.
We are here to answer any questions you might have—just email Jennifer@smithteamlasvegas.com
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