Summerlin sees more land sales at higher prices in 2019
Summerlin developer Howard Hughes Corp. sold more land to homebuilders last year than it did in 2018 and fetched higher prices.
Hughes Corp. sold 319.4 acres of residential land in Las Vegas’ largest master-planned community last year at an average price of $659,000 per acre, the developer reported Thursday.
That’s up from 244.8 acres at an average price of $591,000 per acre in 2018.
The Texas-based company reported the figures in a filing with the Securities and Exchange Commission.
Summerlin spans 22,500 acres along the valley’s western rim and boasted around 113,000 residents at year’s end.
Its home and land prices are among the highest in the valley.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.