National study ranks Summerlin fourth for new home sales
After a year of milestone development and robust sales of new homes, Summerlin ranked No. 4 on the list of best-selling master-planned communities by RCLCO, a leading national real estate consultant that has been ranking master plans since 1994.
The ranking is determined by number of new home sales, and in 2017, Summerlin boasted 1,052 new home sales, its strongest performance since 2006.
According to Gregg Logan, managing director of RCLCO, Summerlin has appeared on its annual list 22 times since the company began tracking 24 years ago.
“The community was ranked No. 1 as the nation’s top-selling MPC eight times between 1994 and 2002, putting Summerlin in the company of only a handful of communities nationwide to enjoy such remarkable and sustained success. In 2017, Summerlin easily earned the fourth spot with 1,052 new homes sold, representing a 37 percent increase over 2016, bumping the community from the No. 5 spot in 2016 to the No. 4 spot in 2017. The primary drivers of performance in the area include strong economic growth across the board in Nevada as well as a significant number of buyers who are relocating from higher-priced California.”
According to Kevin T. Orrock, president of Summerlin for The Howard Hughes Corp., the community reached sales levels not experienced in more than 10 years.
“While the economy has recovered, our success is also attributed to a growing inventory of new homes that includes a wider variety of homes in all sizes, styles and prices to meet specific requirements of the various market segments, from millennials to empty-nesters and retirees,” Orrock said.
With record new home sales, Summerlin marked 2017 with milestone developments that included the opening of nine new neighborhoods and two new villages; completion of two new schools, a major park and golf course; and landmark projects at the Downtown Summerlin area that included the opening of City National Arena – practice facility of the Vegas Golden Knights — start of construction on a second Class-A office tower, the long-awaited opening of Crate and Barrel ,and the announcement of Las Vegas Ballpark, which will be the home of the Las Vegas 51s upon completion.
Entering its 28th year of development, Summerlin is expected to mark 2018 with significant development and expansion, including:
— The sell-out of seven neighborhoods and the opening of six new neighborhoods throughout the community.
• Commencement of construction on three new parks of significant size: Sagemont Park, 9 acres, in Summerlin Centre; Oak Leaf Park, 4 acres, in The Cliffs village, and a 10-acre village park in Summerlin’s newest village of Stonebridge.
— At Downtown Summerlin, start of construction on Las Vegas Ballpark; completion of Two Summerlin, a six-story, 150,000-square-foot office tower with its first signed lease by the international law firm of Greenberg Traurig LLP; and start of construction on a 267-unit apartment project developed by The Howard Hughes Corp.
— Completion of a 180,000-square-foot campus for Aristocrat Technologies near Town Center Drive and the 215 Beltway. The twin-tower facility will serve as the North American headquarters for this global gaming leader.
— Construction of a police substation for the Metropolitan Police Department, located east of the city of Las Vegas Fire Station on Far Hills Drive, just west of the 215 Beltway.
— Ongoing planning for new villages in the western region of Summerlin that will start to take shape in 2019 and beyond.
“Summerlin continues to evolve as a center of sports, entertainment and retail with the growing number of offerings in Downtown Summerlin, including City National Arena and coming soon, Las Vegas Ballpark,” Orrock said. We are very proud to be the home community of both the Vegas Golden Knights, and soon, the Las Vegas 51s. Sports add much to quality of life and are a vibrant part of any community. We couldn’t be more pleased with these new additions that will be enjoyed by all Southern Nevadans.”
Summerlin offers more than 180 floor plans in 36 neighborhoods in seven distinct villages and two custom home enclaves throughout the community. Homes are available in a variety of styles – from single-family homes to town homes, priced from the $250,000s to more than $1 million. And for those looking for quick occupancy, there are dozens of homes available for quick move-in. Visit Summerlin.com for information.
