Summerlin Top-Selling, Most Expensive Master Plan in Las Vegas
If you had to choose one segment of the local housing landscape that seems to define the residential real estate market in Las Vegas, a strong argument can be made for master-planned communities. Massive housing developments like Summerlin and Mountain’s Edge are in many ways already well-established, and several newer master-planned communities are either still in the earliest planning stages or just starting construction.
Just recently, Home Builders Research released new numbers on how some of the Las Vegas area’s most prominent master plans are performing, and the results may actually surprise you, at least in comparison to what’s been selling over the past decade or so.
Through the first half of 2016, Summerlin has seen the most sales, 390, with Inspirada in nearby Henderson, Nevada not far behind with 314 sales. Noted by the Home Builders Research figures, master plans such as Mountain’s Edge and Providence have seen the most sales for much of the past 10+ years thanks to the collection of more affordable homes each has to offer. But with the recession having long in the rearview mirror and the housing market all throughout the Las Vegas region seemingly as robust as ever, Summerlin especially is taking back over the title of Las Vegas’s top master planned development.
Recent statistics from SalesTraq show the average sales price of homes in Summerlin to be right around $596,972, with Providence having an average sales price of $281,104; Inspirada an average sales price of $378,967; Mountain’s Edge an average sales price of $314,315; and Cadence an average sales price of $325,685.