Las Vegas real estate has its ups and downs, and I’m glad to say home sales picked up in the second quarter, especially in June. The master plan of Summerlin remained at the top spot for the year, however, Cadence in Henderson is increasing its market share as well.
Summerlin was ranked No. 5 in the country and Cadence No. 10 in the latest six-month national rankings released by consulting firm RCLCO.
In the April-June quarter, Cadence had 300 net sales (sales minus cancellations) compared with 287 in Summerlin. During the first quarter, Summerlin had 250 net sales, while Cadence had 166.
Summerlin (which has 22,500 acres) is expected to see a growing number of sales going forward in the short-to-midterm, though. The latest villages feature a higher number of denser communities—both attached and detached product types—at relatively lower base asking prices.
Cadence, a 2,200-acre development, offers a number of homes for first-time buyers as well as move-up buyers, and that creates an opportunity for those looking to buy a home. Since they started selling in 2014, there have been 4,447 recorded sales.
Both of these master plans offer amenities galore. Cadence is known for its astounding views; for instance, the resident-only pool offers unobstructed, panoramic views of the Las Vegas Strip. The largest amenity is the 50-acre Central Park, which is perfect for walking and biking and offers free Wi-Fi so you can stay connected. For more outdoor fun, check out the splash pads, pool, adventure park, fitness court, and trails. There’s also a dog park.
Summerlin has lots of amenities as well. This master plan is known for its expansive outdoor recreational amenities, including the 200-mile Summerlin Trail System and dozens of parks that feature basketball, tennis, and volleyball courts; baseball, football, and soccer fields; pools; playground areas; and more! Staying healthy, active, and fit is a way of life in Summerlin, which is home to multiple fitness facilities, not to mention, its very own hospital. And then there is Downtown Summerlin, a hub for retail shopping, restaurants from quick serve to fine dining, entertainment, and class-A office buildings.
During June, Las Vegas homebuilders reported an excellent month, and this is the second month in 2023 in which there were more than 1,000 new homes sold.
Keep in mind that whether you are interested in buying 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 at jennifer@smithteamlasvegas.com
ISellLasVegas!
Thanks, and make it a terrific day.
The Smith King Team
