The Ridges o ffers incred ib le Mounta in , S tr ip and Gol f Cours eviews

The Ridges of Summerlin Real Estate – Homes SOLDthelasvegasluxuryhomepro.com /ridges-summerlin-real-estate/

Over the past year, The Ridges of Summerlin Real Estate has recorded some of the most expensive home salesin the Valley. In 2013, there were 35 closed escrows in the community.

The following table gives the list of homes sold over the past 12 months and will be updated on a monthly basis. If youare interested in the Ridges of Summerlin Real Estate, feel free to check this page for updates on recent sales.

Past Ridges of Summerlin Neighborhood Sold Properties

The median price of all single family homes in the Ridges is now $2,175,000, with half the homes that sold over thepast year closing for less and half closing for more. If we only consider the custom homes, the median price goesup to $2.6M. We suspect the median will rise this year as the number of distress sales declines.

The average price per square foot of homes that sold in the Ridges is $360.54. This includes 45 PaintedFeather which established the lowest price per square foot at $137. This was a home that was in poor condition due tothe fact that it was in mid-construction when it was sold. The highest price per square foot was $771 for 27 Skybird Ct.,which was not only in excellent condition, it sold with only 7 days on the market.

Half of the homes that sold in the Ridges over the past 12 months were on the market for 75 days or less. Ten of themsold in less than 30 days.

Sixty per cent of the homes sold were purchased with cash.

Short Sales in the Ridges – only two of the homes sold overthe past year were short sales. This included 8 PanoramaCrest and 66 Hawk Ridge. 9 Soaring Bird Ct which is currentlyin contract with a list price of $1,540,000 is also a short sale.

Foreclosures in the Ridges – only three of the homes soldwere foreclosures. This included 21 Morning Sky, 30Promontory Ridge and 49 Hawk Ridge.

There are current ly 30 homes listed for sale in theRidges without of fers and three more that have gone intocontract. This is just under a year’s supply of homes availableif no new listings came on the market. There are no short salesor foreclosures currently listed. One of the homes that hasgone into contract is a short sale.

Lowest price available is $1.05M for a 3955 (includes casita) sf production home in Topaz Ridge. Highest price is$18.7M for 7 Sable Ridge Ct with 13,255 sf of living space. At $1411/sf, this one helps skew the average price persquare foot of the current listings. The average list price per square foot of the current listings is $518. Lowest price persquare is $265 for the $1.05 production home in Topaz Ridge.

The Ridges of Summerlin Real Estate update is courtesy of Debbie Drummond, your Las Vegas luxury home specialist.For more info on the Ridges or other Las Vegas communities, call Debbie at (702)354-6900 or emaildebbie@lvhomepro.com.