Summerlin ranked ninth in national home sales


In a midyear 2013 survey of master-planned communities conducted by national real estate consultant RCLCO, Summerlin ranked ninth nationally, moving up three spots from its 12th-place, year-end 2012 ranking.

According to Kevin Orrock, president of Summerlin and vice president of master-planned communities for The Howard Hughes Corp., Summerlin’s strong midyear ranking is no surprise. The community has ongoing land sales to homebuilders, including Lennar, Woodside Homes, Toll Brothers, KB Home, Ryland, Pulte Homes, Richmond American Homes and William Lyon Homes. By year-end, more than seven new neighborhoods will have opened in Summerlin, with nine additional neighborhoods planned to open in 2014 and beyond.

“Demand for homes in Summerlin is strong at all price points,” Orrock said. “The value of master-planned community living continues to resonate with buyers who appreciate and desire quality of life,” he said. “A home in Summerlin includes a lifestyle created by the most robust offering of amenities of any community in Southern Nevada that includes more than 150 parks, more than 150 miles of trails, top-ranked schools, expanding retail and entertainment venues and diverse recreational opportunities.”

According to RCLCO, home sales at the nation’s top master-planned communities sold at a much faster pace in the first half of 2013 than they did in 2012. For Western U.S. communities like Summerlin, the uptick in sales is attributed to improving employment conditions and greater consumer confidence. The report cited that sales in Summerlin are up by 52 percent as compared to sales at Mountain’s Edge in Las Vegas, up by 26 percent, and sales at Stapleton in Denver, up by 29 percent.

Summerlin is no stranger to lists of the nation’s top-selling master-planned communities. In 1992, just a year after the first family moved into the community, Summerlin was the best-selling master-planned community in the country, according to Arthur Andersen Real Estate Services Group — a position Summerlin held until 1995. According to RCLCO statistics, Summerlin missed the No. 1 spot in 1996 by only two home sales, but held the No. 1 position from 1997 to 2003, peaking in 2000 with annual home sales that exceeded 3,200.

“The year 2012 was a good one for Summerlin, and 2013 is proving to be even better,” Orrock said. “In addition to strong new-home sales, custom lot sales in The Ridges are also strong.”

This year, sales are 33 percent ahead of last year and more than 40 custom homes are under construction.

Visit www.summerlin.com for more information.

 

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