Las Vegas Review-Journal (Sunday)
Summerlin ranks No. 3 in national home sales
Community boasts 25 percent increase in 2018
After another year of milestone development and a 25 percent increase in new home sales over 2017, Summerlin, a development of The Howard Hughes Corp., moved up one spot from 2017 to earn the No. 3 national ranking on the list of 2018 best-selling master-planned communities by RCLCO, a leading national real estate consultant that has been ranking master plans since 1994.
The ranking is determined by the number of new home sales. In 2018, 1,318 new homes were sold in Summerlin, the community’s strongest performance in more than a decade.
According to Gregg Logan, managing director of RCLCO, Summerlin has consistently appeared on its annual list: 23 times since the firm began tracking 25 years ago.
“The community was ranked No. 1 as the nation’s top-selling MPC (master-planned community) eight times between 1994 and 2002, putting Summerlin in the company of only a handful of communities nationwide to enjoy such remarkable and sustained success,” he said. “Among the top 10 best-selling communities in 2018, Summerlin’s robust 25 percent increase over the previous year was the strongest, a testament to the community’s enduring appeal.”
According to Kevin T. Orrock, president of Summerlin for The Howard Hughes Corp., Summerlin’s success is attributed to three primary factors:
1. A growing inventory of new homes that includes a wider variety of homes in all sizes, styles and prices to meet the demands of various market segments, from millennials to empty nesters and retirees.
2. The community’s growing vibrancy created by landmark projects at Downtown Summerlin, including City National Arena, the practice facility and home of the Vegas Golden Knights, and Las Vegas Ballpark, a Triple-A baseball stadium and future home of the Las Vegas Aviators.
3. An influx of buyers from other regions of the country where housing is more expensive, especially California.
With record new home sales, Summerlin marked 2018 with milestone developments:
■ The opening of 10 new neighborhoods.
■ The sellout and completion of seven neighborhoods.
■ The groundbreaking and topping out of Las Vegas Ballpark at Downtown Summerlin, a 10,000-capacity minor-league baseball stadium and future home of the Aviators, the city’s Triple-A baseball team of the Pacific Coast League and affiliate of the Oakland A’s.
■ The completion of Two Summerlin, the second Class-A office at Downtown Summerlin, spanning 150,000 square feet.
■ The growing success of Downtown Summerlin as a retail destination with the opening of 10 new stores and annual visitation up by more than 8 percent, with 2018 visitation topping 18 million.
■ The commencement of construction on Downtown Summerlin’s second luxury apartment complex, which includes 267 residences, scheduled for completion in early 2019.
■ The completion of construction on a 180,000-square-foot campus for Aristocrat Technologies, a global gaming leader.
■ The opening of Oak Leaf Park, a 5-acre park in The Cliffs village, and continuing development of two major parks, Sagemont Park, a nearly 10-acre park in Summerlin Centre, and a 12-acre park in the village of Stonebridge.
Summerlin offers more than 180 floor plans in 36 neighborhoods in seven distinct villages and two custom-home enclaves throughout the community. Homes are available in a variety of styles, from single-family homes to town homes, priced from the $250,000s to more than $1 million. And for those looking for quick occupancy, there are dozens of homes available for quick movein. Visit www.Summerlin.com for information.