Summerlin is one of the fastest growing communities in Las Vegas. The community as a whole consists of 22,500 acres of mixed-use development that includes residential, commercial, leisure, educational and cultural spaces that exceed the expectations of residents and potential property buyers.
In the past ten years, Summerlin’s population has nearly doubled to exceed the 100,000 mark.
The growth of this community and its number of residents is the result of the traditional correlation between supply and demand. Summerlin has become one of the most desired communities in all of Las Vegas and has the room to grow to become even better. As a result, developers continue to expand the horizons. Shop Summerlin Townhomes Here.
Part of the draw to Summerlin in recent years has been the booming townhouse market which has placed this affluent community within the reach of more working class Las Vegas residents, recent retirees and growing families than ever before. Developers say they continue to build because the demand in Summerlin has remained strong. The proof is in the numbers as the population of Summerlin continues to grow every year as more families and retirees decide to invest in the Las Vegas community.
Data market research has shown that people are becoming more drawn to the apartment, condo, co-op type lifestyle where you pay your mortgage and maintenance fees, lock your door every day, go to work and let someone else deal with the typical headaches of owning a home such as repairs, maintenance, landscaping and other tasks a homeowner would otherwise be responsible for doing themselves. The townhome market is perfect for someone who wants to feel like they own a personal piece of property, but without the obligation or responsibility of maintaining the property as you would have to if the home was bought outright through the traditional means of buying and selling.
This type of investment is perfect for the recent retiree who finds it difficult to maintain a bigger house after the children have all packed up and started their own respective lives. Many retirees downsize or simplify their finances by investing into to a townhome that allows them to enjoy the feeling of home ownership without sacrificing their sense of integrity and personal satisfaction that you get from being a property owner. The choice to invest in a single family townhome doesn’t equate to a downgrade. Summerlin is a beautiful, tight knit, growing community that is welcoming the type of growth its been experiencing in recent years. What you lose in responsibility of traditional home ownership, you gain in the satisfaction of knowing that you have invested in a community that is strong and continues to grow in order to meet its current market demands. This is all without losing its quaint sense of belonging and community that has led to its steady growth over the past twenty years.
Luxury townhouses and condos are lining the community and developers believe that this is the type of home most in demand at the current stage of Summerlin’s growth. The addition of these attached homes makes owning a home in Summerlin a realistic goal for many more potential buyers. This in part is what’s driving town home sales through the roof. Some townhomes in newly developed parts of Summerlin are priced below $300,000.
In recent months, Summerlin has cut the ribbon on several new and exciting properties with more to come before the end of 2017. The Toll Brothers are opening models in their Fairway Hills section in October 2017, while developers, CalAtlantic Homes is selling town homes that start at an affordable $285,000. Other developers in the areas making their mark soon in Summerlin are the builders, William Lyon Homes and Shea Homes who are offered mixed-use housing to accommodate communities of all family sizes and ages. Recent numbers suggest Summerlin sales are staying strong. New town home and condo purchases rose 39 percent in July 2017 and 27 percent in August 2017, according to data released by the Greater Las Vegas Association of Realtors.
Why buy a Condo in Summerlin?
Summerlin began residential and commercial development in the late 1980s. It ranks as one of the bestselling planned communities in the country. At Summerlin they didn’t just build homes, but rather a collective community that features miles of parks, trails, sports fields, golf courses, and its very own downtown area that plays hosts 106 acres of fashion, dining and entertainment that includes Red Rock Casino, Resort & Spa and the National Hockey League practice facility for the Vegas Golden Knights. Its these types of amenities, experts say, that allow developers to continue plotting land and selling homes. It’s an attractive place to live with endless choice in sport, leisure and culture.
In 2014, Summerlin was named one of Money magazine’s Best Places to Live in America. It’s also a solid choice for growing families ready to make their first investment in real estate. The more than two dozen school choices near Summerlin make this an ideal community to raise a family. It’s a safe and friendly community that is seeing an unprecedented amount of growth in recent years with its mixed-use development of condos and townhomes.
In recent weeks the Clark County commissioners approved plans for a sprawling new residential complex in downtown Summerlin. The development is planned directly across the street from the popular open-air mall. The approved plan devotes 9 acres of space to the 267 units of residential space. This type development might be more suitable to those who value the proximity of shopping, entertainment and cultural near their home. It’s ideal for residents who want to feel close to it all and don’t mind the bustling city vibes that you get from semi-urban living. Most units will be one or two bedroom units.
In addition the wide array of residential and cultural options in the community, Summerlin is also home to Summerlin Hospital Medical Center, a state of the art 500,000 square foot and 450 bed medical facility. Opened in 1997, the hospital boasts a staff of more than 1,400 physicians on their 40-acre campus that provides specialized and targeted care. This facility adds to appeal of Summerlin and is a testament to the commitment developers, residents and business have to this pristine community.