Friday, January 26, 2018
Southern Nevada master-planned communities continue to lead the way in new home sales and that trend shows no signs of slowing as the newer developments start to take off in the valley.
RCLCO, a Florida-based national real estate consultant, and California-based John Burns Consulting, released their annual list ranking the top-selling master plans in the country.
Summerlin, a development of The Howard Hughes Corp., gained two spots in 2017 to No. 4 in the nation with 1,052 sales, John Burns Consulting reported. That’s 37 percent higher than the 769 in 2016, according to the research firm.
Inspirada, a project of a consortium of builders in Henderson, kept its No. 8 national ranking even though its sales jumped 48 percent in 2017 to 837, up from 564.
Cadence in Henderson, a project of The Land Well Co., jumped 13 spots to No. 23. It had 456 sales in 2017, a 36 percent gain from 335 in 2016.
Mountain’s Edge, a project of Focus Property Group, dropped three spots to No. 41. It had 345 sales in 2017, a 9 percent gain from 317 in 2016.
Another Focus development, Providence, dropped off the top 50 list. Both projects, which have been around for more than a decade, are nearing the end of their build-out.
A newcomer to the list is Skye Canyon, a project of the Olympia Cos., came in at No. 47. It had 315 sales, a 93 percent gain over 163 in 2016 when the development opened.
What’s happening in Las Vegas is part of a national trend of strong master plan sales. The top 50 communities accounted for 28,329 sales in 2017, a 19.6 percent gain over 2016, according to John Burns Consulting. The master plans combined 2017 sales represent about 4.5 percent of all new home sales nationally, the firm reported.
In its report, RCLCO, cited a strong Nevada economy for the growth in master plans new home sales “as well as a significant number of buyers who are relocating from higher-priced California.”