At Luxury Realty Group and the Garcia Group we monitor the number of listings on the market in this beautiful gated community on the western boundary of Summerlin, Red Rock Country Club Las Vegas. Over the past 6 months there has been quite a bit of activity as buyers are taking advantage of easing prices and ample supply. We are seeing roughly 130 homes on the market with sales being replace by new listings on roughly a one for one basis.This community has approximately 1300 semi-custom homes, as well as a few dozen custom homes located in a seperate double gated area, The Estates. It is here that some of the larger lots offering eye watering views of the Strip are found.
Ample Supply Not always the Case
At the peak of the investor driven frenzy of the early 2000’s there was a period when inventory here was virtually non-existent. Hungry buyers were buying anything, and almost everything that was put on the market. Fortunately those days are gone. Buyers looking to get into this wonderful community at rational prices are back in business.
West Gate Entrance to Red Rock Country Club
As Usual, Location is the key
As the community of Summerlin continues its build-out, it becomes more and more apparent that this community backing up against the Spring mountains and the Red Rock Canyon National Conservation area is growing more desirable,… and for good reason. The community is a short distance to the perimeter beltway for ease in transportation, a 20 minute drive will land you at the international airport, or at any of the luxurious Strip Resorts. The majority of the homes are built along two signature Arnold Palmer golf courses, many of the homes have city, mountain, and golf course views. Water restrictions make the likelihood of more golf course communities in Summerlin small. Also close-by, is the $1 billion dollar Red Rock Resort Spa and Casino, offering a myriad of entertainment and dining options.
High-End Development at Summerlin Center Underway
Adjacent to the Red Rock Resort just south of the Country Club, are the Shops at Summerlin. Just breaking ground, this is not just any shopping mall. This unenclosed shopping experience will have over 1.5 million sq. ft. of retail space and is estimated to cost over $1 billion. It will be an extravagant outdoor shopping and living experience that is likely to draw shoppers and visitors from across the nation. The first phase is scheduled to open in 2009. More details on this amazing development are expected soon.
It’s Nice to have Good Neighbors
Located just south and butting up against Red Rock County Clubs southern edge is the gated community of The Ridges Las Vegas. The enclave of approximately 400 mostly custom homesites has already established itself as one of the most exclusive communities in the nation. On the resale side, prices for custom homes in The Ridges start at over $3 million and rapidly escalate into the tens of millions. A limited number of semi-custom and high-end town-homes are available as well.
Promontory neighborhood, located in The Ridges Las Vegas
Custom home-sites are still available in The Ridges Las Vegas, prices start in the $500,000 range.
We are Tom and Amy Garcia of Luxury Realty Group. We are residents of Red Rock Country Club and can be reached directly at (702) 360-6645 or
Copyright 2008 The Garcia Group, all rights reserved
Disclaimer: All information in this blog is subject to change without notice. Subject matter is not guaranteed and should be considered time sensitive.
