For Release –July 20, 2019
Summerlin Remains in Top Five Nationally with #4 Spot for New Home Sales in 2019 Mid-Year Ranking
Summerlin® marked the first half of 2019 with strong new home sales, earning the #4 spot nationally on a list of country’s best-selling master-planned communities (MPCs), according to a report recently released by national real estate consultant RCLCO. With 675 new home sales for 2019 as of June 30, Summerlin, a development of The Howard Hughes Corporation® (NYSE: HHC), is the highest ranked MPC in Nevada, the only Nevada MPC on the top ten list and the only MPC outside of Florida among the nation’s top five best-selling MPCs.
According to Kevin T. Orrock, president, Summerlin, the community’s strong sales performance and enduring appeal is created by many factors. “Summerlin’s elevated location which overlooks the Las Vegas valley and sits at the foot of Red Rock Canyon can’t be beat when it comes to views and adjacency to the most stunning natural landmark in Southern Nevada,” he said. “The active Summerlin lifestyle is another big draw and is created by more than 250 parks of all sizes, ten golf courses, 150-plus miles of trails, and of course, Downtown Summerlin, which now includes two major sports venues in addition to shopping, dining and entertainment – all minutes from home.”
Just this spring, Downtown Summerlin welcomed Las Vegas Ballpark®, a world-class Triple A baseball stadium and home to the Las Vegas Aviators, the city’s professional Triple-A baseball team, member of the Pacific Coast League (PCL) and affiliate of the Oakland Athletics. Located adjacent City National Arena, practice facility of the Vegas Golden Knights, Las Vegas Ballpark currently leads Minor League Baseball for game attendance. Ballpark Digest named Las Vegas Ballpark 2019’s best Triple-A ballpark.
According to the report, master-planned communities that achieved sales increases continue to credit successful market segmentation – the targeting of various age, income and household segments with appropriately priced and designed residential product types and lifestyle amenities. This is true in Summerlin where homes are available in an exceptionally wide range of prices and styles, with more than 180 actively selling floorplans in 42 neighborhoods throughout nine villages. New homes in Summerlin currently range from 874 to more than 5,000 square feet, priced from the mid- $200,000s to more than $1 million and meeting the needs of multiple market niches.
According to Gregg Logan, managing director, RCLCO, Summerlin has consistently appeared on the list since RCLCO first began tracking MPC sales in 1994. Since then, Summerlin has appeared on the annual list 21 times, not counting mid-year rankings. Summerlin has ranked among the 10 top-selling MPCs in the country for 18 of those appearances, including an impressive run at the #1 spot seven times from 1997 to 2003. “That puts Summerlin in the company of only a handful of communities nationwide that have enjoyed remarkable and sustained sales success over decades,” said Logan.
In Summerlin, market segmentation is evident in the strong sales at neighborhoods on both ends of the pricing spectrum. At Reverence by Pulte Homes and Mesa Ridge by Toll Brothers, expansive luxury homes with abundant neighborhood amenities like clubhouses and resort-style pools, experienced strong sales during the first half of 2019. Equally successful are a growing number of moderately priced homes that appeal to Millennials, young professionals and families. Among these are the Moda collection at Affinity by William Lyon Homes in Summerlin Centre that offers the community’s greatest variety of attached housing types in single neighborhood, including homes as small as 870 square feet. Other 2019 success stories include KB Home’s Caledonia in Stonebridge with homes from the $300,000s. In fact, the neighborhood has been so successful, KB Home will soon launch Bristle Vale, offering similarly priced and styled homes to meet market demand.
And finally, Bixby Creek by Woodside Homes, with homes priced from the mid-$500,000s, is currently leading the sales pace in Summerlin. According to Orrock, while Summerlin is now offering a growing diversity of home product, mid-range priced, family-style homes are one of the community’s sweet spots.
“From Reverence on Summerlin’s northernmost boundary to The Cliffs village on the south, Summerlin has never offered such a wide range of housing product as it does today,” said Orrock. “This includes a growing number of active-adult neighborhoods, an increasing number of townhomes, condos and attached housing products, and even a growing number of for-rent apartments. The increasing diversity in home product is a direct reflection of changing consumer preferences for smaller footprints, reduced maintenance and homes that better accommodate a ‘lock and leave’ lifestyle.”
While The Howard Hughes Corporation anticipates strong sales to continue throughout 2019, the company is particularly excited about the continuing evolution of Downtown Summerlin, the community’s urban core. According to Orrock, Summerlin is the only master-planned community in Southern Nevada with its own downtown. “While Downtown Summerlin welcomes Southern Nevada residents from all corners of the valley, those who live in Summerlin take special pride in having such a world-class destination right in their own backyard.”
“This newest 2019 mid‐year report speaks volumes about Summerlin’s remarkable and enduring success as it leads new home sales in Southern Nevada, even in its 29th year of development,” said Orrock.
For information on Summerlin, visit Summerlin.com.
CAPTION: The village of Stonebridge in Summerlin currently has seven actively selling neighborhoods. Located near Summerlin’s boundary with Red Rock Canyon National Conservation Area, the village is located on elevated topography with some lots offering spectacular valley and mountain views. A 12-acre village park is under active development.
Developed by The Howard Hughes Corporation, Summerlin began to take shape in 1990 and has ranked in the country’s top 10 best-selling master-planned communities for nearly two decades. Located along the western rim of the Las Vegas valley, Summerlin encompasses 22,500 acres with approximately 6,000 gross acres still remaining to accommodate future growth, including infrastructure, open space and common areas, all within the master plan. The community is currently home to nearly 100,000 residents who enjoy an unparalleled list of amenities. These include more than 250 neighborhood and village parks, more than 150 completed miles of trails, 27 public and private schools, 14 houses of worship, ten golf courses, shopping centers, medical and cultural facilities, business parks and dozens of actively selling floor plans. Homes are available in a variety of styles – from single-family homes to townhomes– priced from the $300,000s to more than $2.5 million. For information on custom homesites in The Ridges please call 702.255.2500. Luxury apartment homes offer monthly rents starting from the $900s. Visit www.summerlin.com for more information.
About The Howard Hughes Corporation®
The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Our properties include master planned communities, operating properties, development opportunities and other unique assets spanning 14 states from New York to Hawai‘i. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC with major offices in New York, Columbia, MD, Dallas, Houston, Las Vegas and Honolulu. For additional information about HHC, visit www.howardhughes.com, or find us on Facebook, Twitter, Instagram, and LinkedIn.
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