Summerlin Real Estate Market Update May 2022
Summerlin real estate
The Summerlin real estate market is showing some interesting changes for May 2022. Read below to see region by region what is occurring in the Summerlin real estate market.
Summerlin Real Estate Market
For the Summerlin area, May had some unique changes. First, the Summerlin real estate market showed both more houses and condominiums available at the end of the month. Available houses increased by 37%, condos by a whopping 89%. Sales were down by 12% for houses and 17% for condos. Average sales prices were down by 10% for houses, but up by 6% for condos.
Summerlin Hills Real Estate Market
For the Summerlin Hills region, here is what happened in May. In the Summerlin Hills region, the Summerlin real estate market did this: the number of available homes doubled with the number of homes sold went up by 50%.
Summerlin North Real Estate Market
For the Summerlin North region, again we saw some downward trends in the Summerlin real estate market. To begin with, available houses went up by 48% and available condos were up by 50%. Closed sales were down by 37% on houses and 31% for condos. Prices also fell by 7% for closed houses and 19% for closed condos.
Summerlin South Real Estate Market
In the Summerlin South region, we also saw a softening of the Summerlin real estate market. Available houses increased by 50%, available condos increased by 40%. Sales of houses decreased by 19% and condos by 14%. Prices on houses sold decreased by 10%, condos by 8%.
Summerlin West Real Estate Market
Looking at the Summerlin West region, we actually see some good news for the Summerlin real estate market. For May, we do see availability of houses rise by 66%. On the positive side, we do see sales of houses up by 2% and condo sales up by 67%. Average sales prices were down by 6% on houses and 8% on condos.
Sun City Summerlin Real Estate Market
The Sun City Summerlin region, showed the greatest gains in the Summerlin real estate market. Available houses were up by 26% and condos by 25%. Sales, however, were down by 12% on houses but up by 5% on condos. Average sales prices rose by 3% for houses and by 2% on condos.
Las Vegas Region
While Summerlin has a great deal of activity, you can also see much happening in Las Vegas in general. Both in houses and in condominiums. Even with amenities like gated communities, strip views and even golf course views. Price segmentation is a key factor. You can even see substantial differences between markets like Peccole Ranch, Southern Highlands, Coronado Ranch, Desert Shores, Queensridge, Rhodes Ranch or Mountains Edge. Let alone cities like Las Vegas or Henderson.
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