Summerlin ranks in nation’s top 20 master-planned communities

In a national survey of master-planned communities conducted by national real estate consultant RCLCO, Summerlin ranked 12th nationally for 2012 home sales. Summerlin’s 471 home sales in 2012 represent a 113 percent increase over 2011, said Kevin Orrock, president of Summerlin and executive vice president of master-planned communities for The Howard Hughes Corp.

RCLCO said home sales at the nation’s top master-planned communities were the strongest since 2007. Sales in the top 20 are more than 37 percent higher in 2012 than in 2011, partly because of strong gains in communities in states hit hard by the hous­ing bust — including Nevada. Deepening buyer pools with stronger credit and heightened consumer confidence — trends that began to present themselves in the latter part of 2011 — continued throughout 2012.

The value of master-planned community living continues to resonate with buyers who appreciate and desire quality of life, Orrock said.

“Master-planned communities by their very nature are designed to retain their value even in a distressed market, and Summerlin is no exception,” he said. “A home in Summerlin includes a lifestyle created by the most robust offering of amenities of any community in Southern Nevada.”

Summerlin is no stranger to lists of the nation’s top-selling master-planned communities. By 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.

RCLCO statistics show 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 an extremely good one for Summerlin and we are well positioned for 2013 and beyond,” Orrock said.

Besides strong home sales in 2012, more than $4 million was generated from custom lot sales in The Ridges, Summerlin’s most exclusive village at the base of the Spring Mountains.

The Howard Hughes Corp., Summerlin’s developer, in 2012 completed the sale of several land parcels to homebuilders including Lennar, Woodside Homes, Toll Brothers and KB Home, all of which are scheduled to open new neighborhoods in this year and in the future.

Summerlin began taking shape in 1990.

Summerlin, which is along the Las Vegas Valley’s western rim, encompasses 22,500 acres and has about 6,600 acres remaining to accommodate future growth within the master plan.

The community is now home to more than 100,000 residents.

The community’s amenities include more than 150 neighborhood and village parks, more than 150 miles of the Summerlin Trail System, 26 public and private schools, 14 houses of worship, nine golf courses, shopping centers, medical and cultural facilities and business parks.

Homes are available in a variety of styles — from single-family homes to townhomes, condominiums and lofts — priced from the $200,000s to more than $1 million.

Visit www.summerlin.com for more information.