Neighborhood deep dive
Summerlin
Summerlin West, Summerlin South and the Downtown Summerlin core
The valley's most valuable dirt is also its most finite. Summerlin has 1,890 saleable residential acres left, a 2043 sellout date, and a western boundary that Congress walled off two decades ago.
The numbers that define it
What is driving development here
Land scarcity here is being converted directly into price. In July 2026 Howard Hughes sold 73 acres for a combined $126 million across three builders — Pulte at 30.4 acres for $52.57 million, KB Home at 23.1 acres for $40 million, and Tri Pointe at 19.6 acres for $33.5 million — with each deal clearing $1.7 million per acre and topping out at $1.75 million. For scale, the master plan's 2025 land sales averaged roughly $970,000 an acre (Review-Journal).
That happened in a year when valleywide new-home closings fell about 20 percent (Review-Journal). Summerlin was one of the few master plans with sales growth, up 6 percent in the first half and eighth best-selling in the country (Review-Journal).
The core is also thickening with things that are not houses. A 354-unit apartment building at roughly 90 units per acre is scheduled for the Clark County Commission on September 2, 2026 (reporting summary). A 147,602-square-foot Class A office delivered with Eide Bailly and GFiber as tenants, and 12 new retail brands including Whole Foods and CHANEL landed in the 400-acre Downtown Summerlin district (Summerlin.com). Roseman University's $65–70 million medical simulation building — phase one of a $500 million campus — was approved by the county on August 19, 2026 (Review-Journal).
Projects we are tracking
Every row below traces to a named source. Dollar figures are the developer's or the agency's own stated numbers, not our estimates.
| Project | Size | Stated cost | Status | Source |
|---|---|---|---|---|
| Roseman University Medical Simulation BuildingRoseman University · PENTA | 84,290 sf, 3 stories, ~400 students | $65–70M (phase one of a $500M campus) | County approved Aug 19, 2026; soft groundbreaking Dec 2026; spring 2028 completion | NVBEX |
| Downtown Summerlin apartments, Spruce Goose St.Howard Hughes Holdings | 354 units, 5 stories, 6,556 sf retail on ~4 acres | Not disclosed | Proposal; Clark County Commission Sept 2, 2026 | Reporting summary |
| AstraHoward Hughes with custom builders | 167 homesites on 171 acres | Not disclosed | First vertical construction underway | Homes.com |
| Meridian office buildingHoward Hughes | 147,602 sf, 3 stories | Not disclosed | Delivered and leasing | Summerlin.com |
| CC-215 / Summerlin Parkway interchangeClark County Public Works with NDOT, City of Las Vegas, Howard Hughes | Four new roadway bridges, three trail bridges, new flyover, interchange down to one signal | $130M | Under construction since Feb 2025 on a three-year schedule | Review-Journal |
| The SummitDiscovery Land Co. / Howard Hughes JV | More than 250 ultra-luxury lots | Not disclosed | Established 2015; still the top of the market | Homes.com |
What it costs to buy here
| Measure | Value | Period & basis | Source |
|---|---|---|---|
| Median resale, single-family | $645,587 on 162 closings, −5.1% YoY, 27 median days on market | July 2026, GLVAR data via a broker IDX pull | Nevada Real Estate Group |
| Median resale, single-family (conflicting) | $525,000 at $286/sf on 240 closings; 69% closed below asking | July 2026 closings, same brokerage, different scope | Nevada Real Estate Group |
| Median resale, year to date | $758,610 on 813 closed sales | MLS pull dated Jul 14, 2026 | Nevada Real Estate Group |
| Median resale, trailing 12 months | $567,207 on 3,195 closings, ~$341/sf | TTM as of Mar 2026 | Nevada Real Estate Group |
| Median new-home price | Not published at the submarket level. New homes are marketed from the $400,000s to more than $1 million | Dec 2025 marketing | Summerlin.com |
Those four resale medians disagree sharply, and none of them is the Las Vegas REALTORS association's own published submarket series — LVR reports valleywide. They come from the same brokerage's differently scoped pulls: monthly ZIP-scoped, blog-level closings, year to date, and trailing twelve months. We publish the range and the scope rather than picking the number that tells the best story.
Land and capacity
- 1,890 acres of saleable residential land and 494 acres of commercial land remain, with residential sellout projected for 2043 and commercial buildout for 2039, as of June 30, 2026 — HHH Q2 supplemental filed with the SEC. Total residual land value is put at $4.16 billion with an 81.1 percent projected cash gross margin.
- The western boundary is permanent. A 1988 BLM land exchange gave up more than 5,000 acres to create the Red Rock Canyon buffer, and a 2002 exchange preserved another 1,100 acres along the western border — Summerlin.com. No amount of demand moves that line.
- There is entitlement headroom in Summerlin West. The development agreement with the City of Las Vegas allows up to 30,000 homes, and roughly 13,600 have been built or permitted in the city portion — City Council 24-month review, Jan 7, 2026. The city expects commercial development to accelerate once the interchange opens.
- The scale to date: about 58,000 homes across more than 30 villages on 22,500 acres, with more than 130,000 residents — Homes.com. Census publishes a place-level count only for Summerlin South: 30,744 residents and 12,968 households, median owner-occupied value $641,600 — Census QuickFacts.
The constraint nobody advertises
Summerlin is running out of dirt, and the endgame math is unforgiving. Only 1,890 residential acres remain against a 2043 sellout, and the western edge is fixed by two BLM exchanges that permanently walled off more than 6,000 acres for Red Rock (HHH supplemental). That pushes lot prices past $1.7 million an acre, which pushes finished-home prices up in a valley where the median new-home closing price is $535,114 and total closings are down 20 percent year to date (Review-Journal).
The visible crack: Howard Hughes' own trailing-twelve-month land pricing included a $100 million bulk sale at below-average pricing, and one Summerlin resale series showed medians down 5.1 percent year over year in July (HHH supplemental), (broker market report). A higher land basis on top of softer resale comps is the squeeze worth watching over the next four quarters.
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