Summerlin Real Estate

Sun City is a 2,400 acre community was completed by Del Webb in 1998. There were 7,779 homes constructed which house over 14,000 residents. It is located in the northwest with an approximate 20 to 25 min. commute to the strip and airport. This community took approximately 10 years to complete. Sizes of homes range from 2 bedroom, 1 bath under 1100 sq. ft. to 3 bedrooms at over 3,000 sq. ft.. At the time of this writing, December 21, 2004 sales activity for the last 90 days reflects prices from $195,000 to $934,000 with a median price of around $292,000. The amenities include a total of 5 pools, 2 of which are indoor, 3 golf courses, hobby rooms, tennis courts, a racquetball court, 3 restaurants, 4 community centers, miniature golf and really, the list goes on and on. The golf courses are homeowner owned as opposed to Siena and Sun City Anthem where this is not the case. In terms of amenities, I would rate this community number one with more of just about everything. More tennis courts, hobby rooms, pools, and community centers. The local infrastructure is in place, with lots of convenient shopping and services.

The thrust of economic development in Las Vegas, Nevada is greater than anywhere in the United States, and greater than anywhere on the planet earth.  The gaming industry alone has spent 20 billion dollars over the last 14 years. This incredible economic growth, combined with available land, water and a political climate favorable to development has led a very strong market for both new and resale homes. 

As of August, 2004 the median price for an existing home in the Las Vegas area was just over $250,000. That median price has held steady for 3 months. It has been a wild ride for over much of this year with many buyers chasing the few listed properties.  Now the market is definitely changing. On May 21st, 2004, 3,832  homes were listed for sale with the local multiple listing service. The rate of sale was around 3,400 homes per month. I would represent this as being the peak of the recent "seller's market".  The inventory of homes for sale has climbed steadily. As of the time of this writing, December 30, 2004  9,746 homes are on the market with  2,552 homes sold in the last 30 days  This is almost exactly a 4 month inventory of homes at the present rate of sale. The market has stabilized nicely. The National Association of Realtors regards a 4 month inventory of homes as average. 

Note: With the downsizing of Sun City Anthem, Sun City Summerlin will be far and away the largest of the local age restricted communities. It does, in my opinion, offer much more in the way of common area amenities. It does not seem likely that there will ever be a local age restricted community that will offer the combination of services and amenities that are found here.

PGA hall-of-famer Billy Casper and architect Greg Nash designed the three 18 hole golf courses. The par 72 Palm Valley (photo right) stretches some 6,849 yards with Highland Falls (photo left) at around 6,500 yards. Eagle Crest is a par 60 executive course.  Highland Falls and Eagle Crest, in particular, offer dramatic valley views from many holes. Yearly golf memberships are available to residents that allow for play at a substantially reduced rate.  Note: When you purchase a home in Sun City Summerlin you purchase an undivided ownership interest in these courses. This is as opposed to Sun City Anthem and Siena where the golf courses are held privately.

Plaza North and Plaza South, pictured above, are central in the community. The Smiths Shopping Center and the Rampart Center are at the perimeter of Sun City Summerlin.  Additional shopping has opened along Lake Mead Drive on the south side of the community.  All above shopping areas are golf cart accessible from within the community.  Grocery stores, medical centers, pharmacies, restaurants, hair salons and more are all available here. You don't even need to leave the Sun City Summerlin to gamble, with video poker machines at Longs Drugs in the Plaza South Center as well as at the grill at the Palm Valley Golf Course.

Sun City "Villas" or patio style homes are part of the inventory of available homes at Sun City Summerlin. All of these homes share at least one common wall with one or more neighbors.  Exterior and landscaping maintenance are handled through a separate association of homeowners.  There are several of these neighborhood associations throughout the community. The "Villas" range in size from 1021 to 1799 sq. ft. 

Conventional Sun City free standing homes range in size from 1119 to over 3,000 sq. ft.. The initial construction in this community was on relatively flat terrain. As the construction continued homes were built at an increasingly higher elevation.  The increased slope allows for many homes in the later phases to have more of an opportunity for valley/strip views. There were three separate phases of models at Sun City Summerlin allowing for many choices in floor plans and sizes.

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