With one week left in Q1, new home net sales continue to thrive in Southern Nevada.
New home net sales (new contracts minus cancellations) in our Weekly Traffic & Sales Watch came in at just over 250 for the week ending March 27th, slightly below the weekly average for 2022 but still averaging one per active community.
There were four new communities added to the report this week. Century Communities debuted Eaglepointe and Marvella in the Skye Canyon masterplanned community in the northwest. They combine to include over 300 lots and base prices are in the mid-$400,000 range. Richmond American Homes began reporting Timber Trails in the south sub-market area just east of I-15. It offers four 2-story plans between 2,500 and 3,270 square feet. Finally, Toll Brothers also opened a new product line in Skye Canyon with the Valera Collection. The homes are all over 3,200 square feet and the starting price comes in at $671,990.
During our bi-weekly base price audit, we are reporting that one-third of the communities surveyed showed an increase in their base asking prices. For the builders covered in the report, the average (mean) base asking price is currently over $521,000. For all the specifics, subscribe to this unique and incredibly insightful (and ridiculously affordable) report.
