Downtown Summerlin is open and thriving, some stores and restaurants are still to open. Traffic is busy and the theaters are great, they have recliners and alcohol service. There is a great demand, be sure to make your reservations.
I recently had the honor to sit on the Appraisal Institute Board panel, and learned that land prices are increasing (land prices have pushed toward $400,000 an acre in many areas a town) and the builders are having a hard time passing on the costs in some developments. We may see new construction slowdown in some parts of town. However, with the demand so high in Summerlin, Green Valley Ranch, Seven Hills and Anthem (all neighborhoods with higher price points) this may not be the case for these areas. We will continue to keep a gage on the market and keep you informed.
In Summerlin there are currently 377 active single family homes on the market with 75 condos available. With 191 single family homes and 37 condo units under contract currently, we are seeing the market pick up over last month as there were 119 closed single family properties and 21 condo units closed. This is great for the Las Vegas/ Summerlin real estate market.
Thank you so much for watching, we really appreciate it! We are here to serve you for all of your real estate needs, specializing in Summerlin, Centennial Hills and North Las Vegas, if you have any questions, or comments please pick up the phone and give me a call or visit my website for more information. (702)379-3401 www.DaveRadcliffeVegas.com