A new single-family home in Summerlin closed at a median of about $360 per square foot in the 12 months ending September 17, 2026, based on Las Vegas MLS data pulled through Repliers on September 19, 2026. A new single-family home in Henderson closed at about $249, and the valley as a whole at $254. That is a gap of roughly $100 a square foot on the same product type, built by many of the same builders, using the same framing crews and the same stucco.
The reason is not the granite. It is the ground underneath it. According to Howard Hughes Holdings' second-quarter 2026 supplemental report, builders paid an average of $1,728,000 an acre for Summerlin superpad sites in the quarter, and the developer now values its remaining Summerlin residential land at about $1,966,000 an acre. This guide follows that land bill through the superpad model, the SID and HOA layers, the builder mix, and the village-by-village closings, then sets Summerlin against Cadence, Inspirada and the southwest so you can decide whether the premium is worth it for you.
Summerlin new homes cost more per square foot because the land under them costs more: Howard Hughes sold Summerlin superpads at about $1.73 million an acre in the second quarter of 2026, roughly $290,000 to $430,000 of land per home at common densities. New Summerlin single-family homes closed at about $360 per square foot in the 12 months ending September 17, 2026, versus $249 in Henderson. Compare total monthly cost, including SID and HOA layers, before choosing.
- Howard Hughes sold 85.9 acres of Summerlin superpads at $1,728,000 an acre in the second quarter of 2026.
- New Summerlin single-family homes closed at about $360 per square foot in the year ending September 17, 2026.
- Cadence new homes closed at $242 per square foot and Inspirada at $244 over the same 12 months.
- Village 17A (Ascension at The Peaks) closed 42 homes at a $2.37 million median and about $581 per foot.
- Budget for a SID assessment and two HOA layers on most Summerlin West new homes before comparing payments.
What Does Howard Hughes Charge Builders for Summerlin Land in 2026?
Summerlin is unusual among Las Vegas master plans because a single public company still owns nearly all of the undeveloped land, and it reports what it sells that land for every quarter. According to Howard Hughes Holdings' second-quarter 2026 supplemental, filed on August 6, 2026, the company closed 85.9 acres of Summerlin superpad sites in the quarter for $148.5 million, an average of $1,728,000 an acre, plus 2.2 acres of custom lots for $15.75 million, or about $7,159,000 an acre. Across all of the company's master plans, residential land sold at an average of $1,309,000 an acre in the quarter, so Summerlin superpads priced roughly 32% above the company-wide average.
The trailing-twelve-month figure looks lower, and the reason matters. The same report shows 646.5 residential acres closed in the 12 months ending June 30, 2026, at an average of $891,000 an acre, but it notes that the average includes a $100 million bulk sale in Summerlin at below-average pricing and that the trailing average would be about $1.1 million an acre without it. According to the company's fourth-quarter and full-year 2025 release, that bulk deal was 231 acres at an average of about $434,000 an acre, while the 181 acres of superpads sold in 2025 went for a record price of approximately $1.7 million an acre and three custom lots averaged roughly $7.6 million an acre.
Two individual deals put faces on the averages. According to Hoodline's February 2026 report on Summerlin land sales, Richmond American Homes bought 36.3 acres for about $55 million with an 89-lot subdivision planned, and Toll Brothers bought 28.3 acres for about $51.4 million with 148 homes planned, both west of the 215 Beltway and Summerlin Parkway. Those prices work out to about $1.52 million and $1.82 million an acre. The 240-acre "Back Bowl" parcel that Pulte took down for about $100.4 million, with approval for more than 400 homes, appears to be the below-average bulk sale in the company's own footnote, at about $418,000 an acre for land that needs far more grading and infrastructure before a house can sit on it.
How Does the Superpad Model Turn $1.7 Million an Acre Into a Home Price?
Howard Hughes does not sell finished lots in Summerlin. It sells superpads: graded parcels of roughly 20 to 40 acres with the master-plan backbone in place, meaning the arterial roads, the trunk water and sewer lines, the drainage arroyos and the parks the community association will eventually maintain. The builder buys the pad, designs the subdivision, builds the interior streets, curbs, dry utilities and lot-level grading, and only then has a finished lot to put a house on. The land price you read in the filing is the starting point of that chain, not the end of it.
The arithmetic from acre to home is what buyers never see on a price sheet. Toll Brothers' 28.3-acre purchase for about $51.4 million spread over 148 planned homes is roughly $347,000 of raw land per home before a single interior street is paved. Richmond American's 36.3 acres at about $55 million over 89 lots is about $618,000 of land per lot, which tells you those are larger view lots aimed at a higher price point. At the quarter's $1,728,000 superpad average, a builder planning four homes an acre carries about $432,000 of land per home, five homes an acre about $346,000, and six homes an acre about $288,000. Density is the builder's main lever against the land bill, which is why so much of Summerlin's newest product is attached, paired or on lots that would have looked small to a 2005 buyer.
Set that against the national cost structure. According to the National Association of Home Builders' 2024 Cost of Constructing a Home survey, the finished lot averaged 13.7% of a new home's sales price nationally, with construction costs at 64.4%, builder profit at 11.0%, overhead at 5.7%, sales commission at 2.8%, financing at 1.5% and marketing at 0.8%. On a $501,548 Cadence home, the national lot share would be about $68,700. A Summerlin builder carrying $290,000 to $430,000 of land per home cannot fit inside that template, so the sales price has to absorb the difference. That is the mechanical core of the per-square-foot gap.
Why Is Summerlin Land So Much More Expensive Than the Rest of the Valley?
Scarcity with a known end date is the first answer. According to the second-quarter 2026 supplemental, Howard Hughes lists Summerlin with 1,890 remaining saleable residential acres, an estimated residential price of about $1,966,000 an acre, and an estimated sellout year of 2043. The company's other master plans tell you how unusual that number is: it estimates Bridgeland, outside Houston, at about $661,000 a residential acre and The Woodlands at about $679,000. Summerlin land is worth roughly three times as much to the same owner, in the same filing, because the Las Vegas Valley is a bowl of federal land with a fixed edge and Summerlin sits against the most desirable part of that edge.
The second answer is what the land comes with. A builder buying a Summerlin superpad is buying entitlements that are already approved, a community association that already maintains more than 300 parks and 200-plus miles of trails, and a school and retail base that is already built. According to Summerlin's year-end 2025 development summary, the community entered 2026 with 115 floor plans in more than 20 neighborhoods across seven villages, 10 golf courses, 26 public, private and charter schools, and 11 more neighborhoods planned to open in 2026. A builder in a start-up master plan pays less per acre partly because it is buying a promise; a builder in Summerlin pays more because it is buying a finished setting that sells homes faster.
The third answer is that the resale market has already priced the setting. In our analysis of the Summerlin resale premium, the community's median resale ran about $686,000 in 2026 against roughly $478,000 valley-wide. Across all single-family closings in the Summerlin ZIP codes in the 12 months ending September 17, 2026, the MLS shows 2,123 sales at a $696,000 median and $332 per square foot, against 20,963 valley sales at $484,990 and $258 per square foot. A builder bidding for a superpad knows what the house next door resells for, and Howard Hughes knows it too. Land prices in a master plan are residual: the developer captures whatever is left after the builder's construction cost and margin, and in Summerlin that residual is large.
What Do New Summerlin Homes Actually Sell For Per Square Foot?
Start with the villages that are actively closing new homes. Based on Las Vegas MLS data pulled through Repliers on September 19, 2026, Summerlin West Village 25, which covers the Redpoint and Kestrel parcels, closed 71 homes in the 12 months ending September 15, 2026, at a $1.20 million median and about $405 per square foot. Village 23, Stonebridge, closed 50 homes at a $1.16 million median and about $371 per foot. Village 17A, the Ascension parcels at The Peaks, closed 42 homes at a $2.37 million median and about $581 per foot. Village 24 closed 74 homes at an $850,000 median. Those are closings, not asking prices, and they include the lot premiums and design-center selections that never show up on a builder's "from" price.
Widen the lens to every single-family home built in 2025 or 2026 that closed in the same window, and the picture holds. In the Summerlin ZIP codes (89138, 89135, 89134, 89144 and 89145), 134 new single-family homes closed at a $965,000 median, about $360 per square foot, and a 3,032-square-foot median size. In 89138 alone, which is where Kestrel, Redpoint, Stonebridge and Grand Park sit, 98 new homes closed at a $799,496 median and $315 per foot on a 2,466-square-foot median home. In 89135, where The Peaks and the newest Cliffs parcels are, 33 new homes closed at $2.25 million and $581 per foot. Valley-wide, 1,806 new single-family homes closed at a $540,000 median and $254 per foot.
| Area | Closings | Median price | Median $/sq ft | Median size |
|---|---|---|---|---|
| Summerlin ZIPs (89138, 89135, 89134, 89144, 89145) | 134 | $965,000 | $360 | 3,032 sq ft |
| 89138 (Kestrel, Redpoint, Stonebridge, Grand Park) | 98 | $799,496 | $315 | 2,466 sq ft |
| 89135 (The Peaks, newer Cliffs parcels) | 33 | $2,250,000 | $581 | 3,940 sq ft |
| Henderson, all new single-family | 532 | $531,995 | $249 | 2,230 sq ft |
| Cadence | 331 | $501,548 | $242 | 2,114 sq ft |
| Inspirada | 32 | $540,000 | $244 | 2,113 sq ft |
| Southwest ZIPs (89178, 89179, 89148, 89141, 89113, 89139, 89183) | 387 | $560,000 | $254 | 2,310 sq ft |
| North Las Vegas | 366 | $494,470 | $240 | 2,119 sq ft |
| Valley-wide | 1,806 | $540,000 | $254 | 2,254 sq ft |
Two things jump out of the table. First, the Summerlin premium is not only a bigger-house effect. The 89138 median home is only about 10% larger than the valley median but sells for about 24% more per foot. Second, Henderson's two big master plans and the southwest all cluster within a few dollars of each other, which means the valley's new-home price per foot outside Summerlin is remarkably flat. The exception is Summerlin, and inside Summerlin the exception is The Peaks.
How Do Kestrel, Redpoint, Stonebridge, The Peaks and Grand Park Compare?
Each village carries its own land basis, product mix and stage of build-out, and the closings show it. The MLS records new Summerlin homes under their legal subdivision names, which are village and parcel numbers rather than the marketing names on the builder's sign, so the comparison below is by parcel. Based on Las Vegas MLS data pulled through Repliers on September 19, 2026, covering closings in the 12 months ending September 17, 2026:
| MLS subdivision (marketing name) | Village | Closings | Median price | Median $/sq ft |
|---|---|---|---|---|
| Village 22 Parcel STU (Quail Cove) | Kestrel | 11 | $548,775 | $258 |
| Vireo, Village 22 Parcel JK | Kestrel | 8 | $614,500 | $341 |
| Village 25 Parcel KL Phase 1 | Redpoint | 10 | $949,000 | $289 |
| Village 25 Parcel M (Edgewood) | Redpoint | 4 | $938,248 | $425 |
| Ashland, Village 25 Parcels H and I | Grand Park edge | 8 | $1,403,250 | $470 |
| Caldwell Park, Village 29 Parcel EF | Grand Park | 7 | $584,000 | $275 |
| Primrose Park, Village 29 Parcel J | Grand Park | 9 | $1,275,000 | $374 |
| Village 29 Parcels C and D | Grand Park | 6 | $1,784,172 | $507 |
| Village 17A Parcel E | The Peaks (Ascension) | 7 | $2,351,052 | $638 |
| Village 17A Parcel A | The Peaks (Ascension) | 5 | $2,100,000 | $581 |
Kestrel is the value village. Quail Cove and Vireo, both Village 22 parcels, closed in the $548,775 to $614,500 range at $258 to $341 per foot, which is why our Kestrel and Redpoint buyer's guide calls it the best price per foot in the corridor. Redpoint's Village 25 parcels step up to $938,000 to $949,000 medians, and the Ashland parcels on the Grand Park edge reach $1.4 million at $470 per foot. Grand Park itself is the widest spread in Summerlin: KB Home's Caldwell Park closed at $584,000 and $275 per foot while Village 29 Parcels C and D, the larger-lot product, closed at $1.78 million and $507 per foot, all inside the same village and often within a short walk of the same park.
The Peaks is its own market. Ascension's Village 17A parcels closed between $2.1 million and $2.35 million at $581 to $638 per foot, and according to Toll Brothers' Ascension page, the Crestline collection now starts at $1,854,995 and the Highrock collection at $3,150,000. Stonebridge, which closed 50 homes at a $1.16 million median and $371 per foot, sits between Redpoint and The Peaks in both elevation and price. Just south, The Cliffs is largely built out, so its closings are mostly resale and set the benchmark that new Redpoint and Stonebridge product is priced against.
Which Builders Are Active in Summerlin, and What Do Their Homes Start At?
The builder roster is deep, and it is mostly the same names you will find in Henderson, which is the point: the labor, the lumber and the appliance packages cost the same on both sides of the valley. According to Summerlin's year-end 2025 summary, the 10 neighborhoods that opened in 2025 were Raven Crest by Toll Brothers, Mockingbird and Sandpiper by Lennar and The Hub in Kestrel and Kestrel Commons; Ashland by Taylor Morrison, SHAWOOD at Arcadia, Glenrock by Toll Brothers, Caldwell Park by KB Home, Carlisle by Tri Pointe Homes, Primrose Park by Richmond American Homes and Brantley by Pulte Homes in Grand Park; and Astra, 167 custom homesites across 171 acres at the northwest edge. Woodside Homes, another name on the Summerlin buyer's tour list, is active at Cadence in Henderson.
Published starting prices show how the land basis expresses itself in product. According to KB Home's Caldwell Park page, as summarized by Summerlin on June 30, 2026, the Groves collection starts at $412,990 for 1,430 to 1,947 square feet and the Landings collection at $530,990 for 1,832 to 2,466 square feet. That is the cheapest new single-family entry point in Summerlin, and it exists because KB put small homes on small lots. According to Lennar's Mockingbird page, the Kestrel collection starts at $796,990 for 3,000 to 3,335 square feet, with an HOA of about $156 a month and approximate special assessment fees listed at $863.94, which is the SID layer showing up on a builder's own page.
Toll Brothers covers both ends. According to Toll's Raven Crest page, its Kestrel Commons townhomes start at $634,995 for 2,300 to 2,640 square feet with rooftop terraces and elevator options, which is attached product priced above most of Henderson's detached homes. Its Ascension collections at The Peaks start at $1,854,995 and $3,150,000. The same builder, in the same master plan, spans a five-fold price range, and what changes between the two is almost entirely the lot and the view. When you tour any of these, ask for the lot premium schedule; on a $1.7 million-an-acre superpad, a corner or view lot premium of $50,000 to $150,000 is the builder recovering land cost lot by lot.
How Do Cadence and Inspirada New Homes Compare on Price?
Henderson's two big master plans are the cleanest comparison because they sell similar houses from overlapping builders. According to Cadence's community site, its active builders include Beazer Homes, Century Communities, D.R. Horton, Lennar, Richmond American Homes, Taylor Morrison and Woodside Homes, and the plan describes itself as one of the top ten best-selling master plans in the country with a Central Park of nearly 50 acres. Based on Las Vegas MLS data pulled through Repliers on September 19, 2026, 331 new single-family homes closed in Cadence in the 12 months ending September 17, 2026, at a $501,548 median and $242 per square foot, and 32 closed in Inspirada at a $540,000 median and $244 per foot.
The per-foot gap to Summerlin is therefore about $118 against the Summerlin ZIP average and about $163 against Village 25. Some of that is house: the Summerlin median new home is 3,032 square feet against 2,114 in Cadence, and larger homes usually carry a lower per-foot cost because the kitchen and baths are spread over more area. Yet Summerlin's per-foot number is higher despite the bigger house, which is the signature of a land premium rather than a finish premium. Cadence's biggest parcels tell the same story from the other direction: Cadence Neighborhood 5 Parcel C-2 closed 61 homes at $483,880 and $244 per foot, and Cadence N7 Phase 2 closed 52 at $555,340 and $207 per foot.
| Measure | Summerlin West and South (89138, 89135) | Cadence | Inspirada |
|---|---|---|---|
| Closed median, 12 months ending Sept 17, 2026 | $799,496 (89138) / $2,250,000 (89135) | $501,548 | $540,000 |
| Closed median $/sq ft | $315 / $581 | $242 | $244 |
| Active new-build listings, Sept 19, 2026 | 103 | 99 | 13 |
| Median asking price, active new builds | $748,750 | $518,270 | $549,750 |
| Median asking $/sq ft, active new builds | $345 | $246 | $251 |
| Typical annual SID/LID assessment | Varies by parcel; Lennar lists about $864 at Mockingbird | $1,400 to $3,200 | $1,200 to $2,800 |
The active-listing row is the forward-looking one. On September 19, 2026, the 103 active new-build listings in 89138 and 89135 carried a $748,750 median ask at $345 per foot, while Cadence's 99 active new builds asked $518,270 at $246 and Inspirada's 13 asked $549,750 at $251. Asking prices per foot in Summerlin are running slightly below the closed medians for the ZIPs, which reflects the mix of smaller Grand Park product now on the market rather than falling prices. The Henderson figures are essentially flat against their own closings. For the SID and LID side of the table, see our Cadence and Inspirada assessment guide.
How Do the Southwest and North Las Vegas New Builds Fit the Picture?
The southwest is where Summerlin buyers most often end up when they decide the premium is not for them, and the numbers explain why. Based on Las Vegas MLS data pulled through Repliers on September 19, 2026, 387 new single-family homes closed across the southwest ZIP codes (89178, 89179, 89148, 89141, 89113, 89139 and 89183) in the 12 months ending September 17, 2026, at a $560,000 median and $254 per square foot on a 2,310-square-foot median home. That is $20,000 above the valley median and identical to it per foot, which makes the southwest the valley's price benchmark: close to the 215, close to the Strip employment base, and without a master developer capturing a residual land value.
North Las Vegas is the low end of the new-build market. Its 366 new single-family closings came in at a $494,470 median and $240 per foot on a 2,119-square-foot home. The northwest's Skye Canyon, a master plan with its own SID structure, closed 120 new homes at $522,500 and $274 per foot; the higher per-foot figure there reflects smaller homes, at a 1,816-square-foot median, rather than higher land cost. Once you see that every large submarket outside Summerlin closes between $240 and $274 per foot, the Summerlin figures of $315 in 89138 and $581 in 89135 stop looking like noise and start looking like a land price.
There is a nuance for the southwest specifically. Its largest new-home parcels are infill on privately held acreage that was assembled over decades, and each builder negotiated its own land basis. Meranto at Grand Canyon closed 32 homes at $687,475 and $237 per foot; Durango and Mistral closed 25 at $610,000 and $248; Pebble and Durango closed 20 at $939,975 and $240 per foot. Even the southwest's million-dollar-adjacent product stays under $250 per foot, because a bigger house on a normal-cost lot spreads the land bill thin. The same $940,000 in Summerlin's Village 25 buys a home at $289 to $425 per foot. Browse the current Summerlin inventory next to a southwest search and the per-foot difference is visible on the first page.
What Do SIDs, LIDs and HOA Layers Add to a Summerlin New Home?
The per-foot price is the first layer of cost. The second is the assessment that finances the backbone the superpad came with. According to the Clark County Treasurer's explanation of Special Improvement Districts, SIDs fund streets, sidewalks, curbs and gutters, streetlights, and sewer and water facilities; the county issues bonds, apportions the cost among benefiting parcels, bills the assessment semi-annually, and the unpaid balance is a lien on the property under Nevada Revised Statutes Chapter 271. According to the county's Public Works SID page, the financing can run from 10 years up to 30 years. In Summerlin West, the newest villages carry the newest bonds, which means the largest remaining balances.
Builders disclose it, but quietly. Lennar's Mockingbird page lists approximate special assessment fees of $863.94 next to a $156 monthly HOA; confirm with the sales office whether that figure is annual and which SID it belongs to, because two parcels on the same street can sit in different districts at different stages of payoff. The payoff statement comes from the district administrator, and under NRS 271 an owner can prepay the prorated balance, which some buyers do at closing to remove the line from the tax bill. For Henderson buyers, our Cadence and Inspirada guide puts annual assessments at $1,400 to $3,200 in Cadence and $1,200 to $2,800 in Inspirada, so the layer exists on both sides of the valley; the difference is that Summerlin's is stacked on a higher base price.
Then come the associations. A Summerlin West home typically pays the master association plus a sub-association where the neighborhood is gated or attached. In our Summerlin HOA analysis, the median reported HOA on master-only Summerlin West listings was about $69 a month, while combined master-plus-village dues ran roughly $165 to $210 in Kestrel and $175 to $220 in Redpoint, and attached Redpoint Square product ran higher still because the association maintains roofs and exteriors. Lennar's $156 at Mockingbird sits in that band. Add a plausible $70 to $250 in SID, and the recurring layer on a Summerlin West new home is commonly $250 to $450 a month before property tax and insurance. That is not a reason to avoid Summerlin; it is a reason to compare total monthly cost rather than list price.
How Does Land Cost Change the Builder's Math and Incentives?
Once you understand that a Summerlin builder is carrying $290,000 to $430,000 of land per home, several things you see in the sales office make sense. The first is density: attached townhomes at $634,995, paired homes, and detached homes on lots that leave little more than a courtyard. According to the NAHB survey, construction is 64.4% of a new home's price nationally and the lot 13.7%; when the lot share is two or three times that, the only way to keep the sticker under $700,000 is to shrink the lot and stack the floor plan. KB's Groves collection at Caldwell Park, starting at $412,990 for as little as 1,430 square feet, is a direct response to a $1.7 million acre.
The second is the shape of incentives. A builder that paid $347,000 for the dirt under a house has less room to cut the base price than a builder that paid $70,000, so Summerlin incentives tend to come as rate buydowns, closing-cost credits and design-center allowances rather than headline price reductions. Those incentives are real money, but they are structured to protect the comparable sales that every later closing in the parcel will be appraised against. In Henderson, where the land basis is lower and the buyer pool is more payment-sensitive, you will see more direct price cuts on finished homes, as our Cadence and Inspirada work shows.
The third is speed. According to Howard Hughes' second-quarter 2026 supplemental, the company keeps selling Summerlin superpads at record prices, and it can only do that because builders keep closing homes fast enough to justify the land basis. A builder paying top dollar for land needs to turn it into closings quickly, which is why Summerlin parcels open, sell through and close out in a couple of years while the village itself is still filling in. For a buyer, the practical implication is that the "from" price you see in the first release of a parcel is usually the lowest that parcel will ever show, and the last few lots carry both the highest lot premiums and the builder's eagerness to close out.
What Does the Per-Square-Foot Gap Mean in Monthly Dollars at 6.95%?
Per-foot figures are useful for diagnosing the cause, but buyers live in monthly payments. According to Freddie Mac's Primary Mortgage Market Survey, the average 30-year fixed rate was 6.95% for the week of September 17, 2026, up from 6.76% the week before, with the 15-year at 6.26%. The illustration below applies that rate to the closed medians from the table above with 20% down, principal and interest only. It leaves out property tax, insurance, HOA and SID on purpose, because those layers differ by parcel and the point here is to isolate the land-driven price gap. Run your own numbers before you rely on any of these.
| Area and median | Loan at 20% down | Monthly principal and interest | Versus Cadence |
|---|---|---|---|
| Summerlin Village 25 (Redpoint/Kestrel), $1,200,000 | $960,000 | $6,355 | +$3,699 |
| Summerlin Village 23 (Stonebridge), $1,160,000 | $928,000 | $6,143 | +$3,487 |
| Summerlin ZIPs, all new single-family, $965,000 | $772,000 | $5,110 | +$2,454 |
| Summerlin Village 24, $850,000 | $680,000 | $4,501 | +$1,845 |
| 89138 new single-family, $799,496 | $639,597 | $4,234 | +$1,578 |
| Southwest ZIPs, $560,000 | $448,000 | $2,966 | +$310 |
| Inspirada, $540,000 | $432,000 | $2,860 | +$204 |
| Cadence, $501,548 | $401,238 | $2,656 | baseline |
The Village 25 buyer pays about $3,700 more a month in principal and interest than the Cadence buyer, and about $1,600 more than a Kestrel buyer at the 89138 median. Over the first five years that Village 25 gap is roughly $222,000 of payments, most of it interest, on a house that is bigger but not $700,000 bigger. Whether that trade is worth it depends on the appreciation you expect Summerlin land to keep earning, the schools and trails you will actually use, and the down payment you have available, because at these prices the 20% down alone is $240,000 in Redpoint against $100,000 in Cadence.
One more figure worth carrying into the calculation: according to the Las Vegas REALTORS August 2026 report, the median existing single-family home in Southern Nevada sold for $475,000 in August, down 1.0% from a year earlier, with more inventory than a year ago. A resale market that is flat to slightly down at the median makes the spread between a $1.2 million new Summerlin home and its eventual resale comps something to underwrite carefully rather than assume.
What Do Rising Summerlin Land Prices Mean for 2026 and 2027 New-Home Pricing?
Land bought in 2025 and 2026 becomes homes that close in 2026 and 2027, and the land was bought at record prices. The 181 acres of superpads Howard Hughes sold in 2025 at about $1.7 million an acre, the 85.9 acres it sold in the second quarter of 2026 at $1,728,000, and the individual Toll Brothers and Richmond American purchases at $1.52 million to $1.82 million an acre are the cost basis of the neighborhoods opening now. According to Summerlin's development summary, 11 new neighborhoods are planned to open in 2026 on top of the 10 that opened in 2025. Every one of them was priced by a builder that already knows what it paid for the dirt, and none of them will be priced below that basis plus construction and margin for long.
That does not mean every parcel will list higher than the last. Builders adjust product, not just price: smaller plans, attached formats and design packages that are pre-selected rather than chosen. Expect the entry point to keep showing up in the $400,000s and $500,000s through Grand Park's attached and small-lot collections, while the detached, view-lot product in Redpoint, Stonebridge and The Peaks stays anchored near or above the closed medians in this guide. The trend to watch is per-foot rather than sticker: if Howard Hughes' next supplemental shows superpads clearing above $1.73 million an acre, the per-foot floor for the parcels that follow moves with it. If a bulk sale drags the average down, read the footnote, because a bulk parcel in the Back Bowl at $418,000 an acre says nothing about a Kestrel superpad.
What I would not do is wait for a Summerlin land correction to show up in new-home pricing. According to the second-quarter supplemental, the developer's own estimate of its remaining Summerlin residential land is about $1,966,000 an acre with a sellout year of 2043, and the company guided to master-plan earnings of $343 million to $391 million for 2026 in its year-end release. A seller with 1,890 acres left, no debt pressure to dump them and 17 years of runway is not a motivated seller. The practical lever for a buyer is timing within a parcel, lot selection, and the incentive package, not the land market.
Is Summerlin New Construction Worth the Premium for You?
The resale premium question and the new-construction question are different, and they deserve different answers. Our Summerlin premium analysis covers what the extra money buys on the resale side: parks, trails, schools, and a five-year appreciation record that ran ahead of the metro. The new-construction question is narrower: given that the land under a new Summerlin home costs three to six times what the land under a new Henderson home costs, do you want to be the buyer who pays that land bill at retail, in year one, at a 6.95% mortgage rate?
For some buyers the answer is clearly yes. If you are buying at The Peaks or the larger-lot Grand Park parcels, you are buying a view and an elevation that cannot be replicated anywhere else in the valley, and the land premium is the price of that scarcity. If you want a new home and you also want Summerlin's school cluster, trail network and Downtown Summerlin within a short drive, KB's Caldwell Park and the Kestrel collections put you inside the master plan at $413,000 to $615,000, which is not far above the southwest or Cadence for the same square footage once you account for the smaller lot. Across the 9,600+ closings we have represented, the buyers who regret a Summerlin new build are almost always the ones who stretched to the top of their approval to get in and then discovered the SID and HOA layers in the first tax bill.
For other buyers the answer is Henderson or the southwest, and that is a fine answer. A $540,000 Inspirada home at $244 per foot, or a $560,000 southwest home at $254, buys more house, a bigger lot and a monthly payment roughly $2,400 to $3,700 lower than the Summerlin West medians. The Henderson master plans have their own parks, their own SID layers and their own price cuts on finished inventory. Explore the new-construction map with both columns of this guide open and decide which per-foot number you are actually paying for: the house, or the ground.
Frequently Asked Questions
Why do new Summerlin homes cost more per square foot than new Henderson homes?
Because the land costs more. Howard Hughes sold Summerlin superpads at an average of $1,728,000 an acre in the second quarter of 2026, which is roughly $290,000 to $430,000 of land per home at four to six homes an acre. Based on Las Vegas MLS data pulled through Repliers on September 19, 2026, new Summerlin single-family homes closed at about $360 per square foot in the 12 months ending September 17, 2026, against $249 in Henderson and $242 in Cadence. Construction costs are similar across the valley; the difference is what the builder paid for the dirt.
What is a Summerlin superpad?
A superpad is a graded parcel, typically 20 to 40 acres, that Howard Hughes sells to a builder with the master-plan backbone already in place: arterial roads, trunk water and sewer, drainage and parks. The builder then designs the subdivision, builds the interior streets and utilities, and creates finished lots. The $1.73 million-an-acre figure in Howard Hughes' second-quarter 2026 report is the superpad price; the builder's cost per finished lot is higher once interior improvements are added.
How much did Howard Hughes sell Summerlin land for in 2025 and 2026?
According to its year-end 2025 release, Howard Hughes sold 181 acres of Summerlin superpads in 2025 at a record price of approximately $1.7 million an acre, plus a 231-acre bulk parcel at about $434,000 an acre and three custom lots averaging about $7.6 million an acre. In the second quarter of 2026 it sold 85.9 superpad acres at $1,728,000 an acre and 2.2 custom-lot acres at about $7,159,000 an acre. It values its remaining 1,890 residential acres at about $1,966,000 an acre.
Which Summerlin village has the cheapest new construction?
Kestrel and the small-lot collections in Grand Park. Village 22 parcels such as Quail Cove and Vireo closed at $548,775 to $614,500 medians in the 12 months ending September 17, 2026, and KB Home's Caldwell Park in Grand Park starts at $412,990 for the Groves collection and $530,990 for the Landings collection as of June 30, 2026. Toll Brothers' Raven Crest townhomes in Kestrel Commons start at $634,995. The Peaks is the most expensive, with Ascension closings at a $2.37 million median.
Do Summerlin new homes have SID assessments?
Most Summerlin West new homes do. Special Improvement Districts finance streets, sidewalks, streetlights and water and sewer lines under NRS Chapter 271; Clark County bills the assessment semi-annually and the balance is a lien on the property. Lennar's Mockingbird page in Kestrel lists approximate special assessment fees of $863.94 alongside a $156 monthly HOA. Ask the sales office for the SID number and payoff balance for your specific lot, because adjacent parcels can sit in different districts.
What is the monthly payment difference between a Summerlin and a Cadence new home?
At Freddie Mac's 6.95% average 30-year rate for the week of September 17, 2026, with 20% down, principal and interest on the $1.2 million Village 25 median is about $6,355 a month, on the $965,000 Summerlin ZIP median about $5,110, and on the $501,548 Cadence median about $2,656. That is a gap of roughly $2,450 to $3,700 a month before taxes, insurance, HOA and SID, which run higher on the Summerlin side as well.
Will Summerlin new-home prices come down in 2027?
I do not forecast prices, but the cost structure argues against it. The neighborhoods opening in 2026 and 2027 sit on land bought at $1.5 million to $1.8 million an acre, and Howard Hughes estimates its remaining Summerlin land at about $1,966,000 an acre with a 2043 sellout. Builders can lower the entry point with smaller plans and attached product, and they can add incentives, but a parcel's per-square-foot floor is set by what its builder paid for the superpad.
Ready to Compare Summerlin and Henderson New Construction With Nevada Real Estate Group?
The most expensive mistake I see with new construction is comparing "from" prices across master plans as if they described the same thing. A $530,990 Landings home at Caldwell Park and a $540,000 Inspirada home are different products on different land with different SID and HOA layers, and only one of them puts you inside the Summerlin master plan. The second most expensive mistake is touring a parcel without knowing what the builder paid for the dirt, because that number tells you how much room there is to negotiate on price and how much will have to come as incentives instead.
Our team works both sides of this comparison every week. We can pull the closed comps for the exact parcel you are considering, from the Las Vegas MLS as of the day you tour, so you know whether the lot premium on the corner homesite is in line with what the last six buyers paid. We can request the SID payoff statement and the association budgets before you write, run the full monthly cost at the current Freddie Mac rate with the builder's incentive applied and without it, and compare the builder's preferred-lender Loan Estimate against an outside quote line by line. Across the 9,600+ closings we have represented, that side-by-side is where the real savings show up.
If you are deciding between a Summerlin village and Cadence, Inspirada or the southwest, start with the Summerlin new-home inventory and the Henderson new-construction map, then call Nevada Real Estate Group at (702) 637-1759 or visit us at 8945 W Russell Rd, Suite 170, Las Vegas, NV 89148. We will put the parcel-level numbers in front of you before the sales office does. Nevada Real Estate Group is brokered by LPT Realty, license S.181401.
Which Sources Inform This Summerlin New-Construction Cost Guide?
Company filings, builder pages, county references and MLS data were checked between September 15 and September 19, 2026, for this guide. Las Vegas MLS figures were pulled through Repliers on September 19, 2026, and are not official Las Vegas REALTORS statistics.
- Howard Hughes Holdings, second-quarter 2026 supplemental information: Summerlin superpad and custom-lot acres and price per acre, the trailing-twelve-month bulk-sale footnote, remaining saleable acres, estimated price per acre, sellout year and the Bridgeland and Woodlands comparison.
- Howard Hughes Holdings, fourth-quarter and full-year 2025 results: 2025 Summerlin superpad, bulk-sale and custom-lot pricing and 2026 master-plan earnings guidance.
- Hoodline, Summerlin land rush, February 2026: the Richmond American and Toll Brothers parcel purchases and the Back Bowl sale.
- Summerlin, year-end 2025 development summary: the 2025 neighborhood openings by builder, floor-plan and village counts, and the 2026 outlook.
- Summerlin, villages currently selling: Grand Park, Kestrel, Kestrel Commons, La Madre Peaks, Redpoint Square, Summerlin Centre and The Peaks.
- Summerlin, Caldwell Park by KB Home spotlight: Groves and Landings starting prices and sizes as of June 30, 2026.
- KB Home, Landings at Caldwell Park grand-opening release: Grand Park village location and the mid-$500,000s starting point in April 2025.
- Lennar, Mockingbird at Summerlin: starting price, sizes, HOA and special assessment figures.
- Toll Brothers, Raven Crest and Toll Brothers at Ascension: starting prices and sizes for the Kestrel Commons townhomes and the Peaks collections.
- Cadence, community site: the active builder roster and Central Park acreage.
- NAHB, Cost of Constructing a Home in 2024, via Eye On Housing: the national construction, finished-lot, profit and overhead shares of a new-home price.
- Clark County Treasurer, understanding SIDs and Clark County Public Works, Special Improvement Districts: what SIDs fund, semi-annual billing, lien status and 10-to-30-year financing terms.
- Nevada Legislature, NRS Chapter 271: the improvement-district statute behind SID assessments and prepayment.
- Freddie Mac Primary Mortgage Market Survey: the 6.95% average 30-year fixed rate for the week of September 17, 2026.
- Las Vegas REALTORS August 2026 report, via Vegas Inc: the $475,000 existing single-family median and its 1.0% year-over-year decline.
- Las Vegas MLS data via Repliers, pulled September 19, 2026: new single-family and attached closings by ZIP, master plan and Summerlin parcel for the 12 months ending September 17, 2026, and active new-build listings as of September 19, 2026.
Land prices, builder pricing, incentives, association dues and assessments change without notice. Confirm the current price, lot premium, SID balance and association budgets for the specific homesite you are considering before making an offer.
