Prices in 89138’s The Paseos are moving on a different track than the broader Las Vegas market. This guide breaks down the real drivers right now so you can time, price, and negotiate with confidence.
Why 89138 Prices Are Shifting Now
The Paseos is one of Summerlin’s most sought-after villages. It benefits from topography, parks, trails, and a modern home mix that often lifts it above the 89138 median. At the same time, valley-wide inventory has increased and mortgage rates have eased from 2024 peaks, reshaping both demand and the pace of sales. When you put these forces together, you get a pocket that still commands a premium, but where list strategy and presentation matter more than they did during the frenzy.
This guide shows you how supply, rates, seasonality, amenities, and new-build competition are steering values in The Paseos today.
Market Forces Shaping The Paseos
Supply, demand, and absorption
- Supply: The Las Vegas Valley has seen a notable rise in active listings compared with 2024, which gives buyers more choice and tends to stretch days on market. Local coverage in mid-2025 highlighted that inventory climbed while headline prices held relatively steady, signaling a more balanced market feel than the previous few years as summarized by Vegas Inc..
- Demand: The Paseos still attracts move-up buyers who want Summerlin schools, parks, and a modern home product. That demand is sticky, but it is also price sensitive. Overpricing above the active set can stall showings in today’s market.
- Absorption: With more options, buyers compare more closely. If your home competes well on features, yard usability, and view, it should still absorb quickly. If it needs updates or backs to road noise, plan for a longer marketing window or a sharper price.
Mortgage rates and affordability
Rates are one of the fastest levers on pricing power. In late summer 2025, national surveys showed 30-year mortgage averages drifting in the mid-6 percent range after higher peaks in 2024. Easing rates supported purchase activity and brought some sidelined move-up buyers back into the hunt per Freddie Mac’s rate reporting and PMMS updates. If rates tick down again, expect renewed competition for turnkey listings in The Paseos. If they rise, expect longer market times and stronger buyer requests for credits.
Seasonality and buyer migration
Spring and early summer usually bring the strongest showing traffic, especially for families timing moves around school calendars. Late summer and the holidays run steadier but slower. The valley also draws relocation buyers tied to job or lifestyle changes. Macro job and wage trends in Clark County have been stable with modest gains into 2025, supporting buyer confidence at upper price points according to BLS county employment data. Tourism swings can affect hospitality employment, which feeds into overall demand across the metro as noted in broader economic coverage.
Neighborhood Factors Inside The Paseos
Parks, trails, and amenities
The Paseos sits inside Summerlin’s master plan with a network of parks, the linear paseo trail system, and 12-plus acres at The Paseos Park. Proximity to these lifestyle features and access to nearby retail nodes help listings hold their premium and attract lifestyle-focused buyers see Summerlin’s overview of Paseos benefits.
Builder mix and product age
Much of The Paseos was built post-2003, with many 2010s floor plans, higher ceilings, and indoor-outdoor living. A mix of respected builders and elevations creates tiers within the village. Newer spec or semi-custom finishes can lift price per square foot, while older plans with smaller kitchens or fewer ensuite bedrooms may trade at a discount unless updated.
Micro-location and elevation
Elevation and orientation matter. Lots with Red Rock, Strip, or wide valley views, minimal road noise, and privacy walls command significant premiums. On the other hand, homes near major corridors, backing to walls with traffic, or facing direct afternoon sun without shade can see thinner buyer pools. Even within the same subdivision, a cul-de-sac view lot can price materially higher than an interior lot without views.
Home Features That Command Premiums
Floor plans and single-story demand
- Single-level living pulls a wide audience, from downsizers to families seeking accessibility. In many cases, the best single-story plans trade at a higher price per square foot than two-story homes of similar size because of scarcity.
- Flexible layouts with an office or loft, a guest suite, and open kitchen-great room flow increase buyer confidence. Clean sightlines, natural light, and a usable drop zone are small details that move offers.
Lot size, views, and outdoor living
- Usable yard space beats raw square footage. Buyers look for room to entertain, turf or low-water landscaping, and covered patios for summer shade.
- Pools with modern pebble finishes, baja shelves, and integrated spas add value, especially when paired with privacy and views.
- View premiums are real in The Paseos. Even partial mountain or Strip glimpses can support a higher list band if the rest of the package aligns.
Condition, upgrades, and energy savings
- Kitchens and primary baths drive emotion. Recent quartz or stone counters, updated cabinets, and modern fixtures shorten market time.
- Systems count: newer HVAC, water heaters, and pool equipment reduce buyer risk. Smart-home features and EV-ready garages help differentiate.
- Energy-efficient windows, shades, and insulation matter in the desert. Lower utility profiles improve both appraisal support and buyer perception.
Comps, New Builds, and Nearby Pull
How appraisers weigh local comps
Appraisers and savvy buyers focus on the most recent, most similar sales inside the same micro-pocket, then adjust for features and location. They also study active and pending competition to gauge today’s ceiling. That means your pricing should account for upgrades, lot type, and view, not just square footage. In a market with more inventory, the top of the range belongs to the cleanest, most turn-key homes with strong micro-location.
Pressure from nearby new construction
When builders release new phases or spec homes, they add direct competition. Even if base prices match resale, incentives like closing cost credits or rate buydowns can sway buyers. That can force resale listings to lean on superior lots, lower HOA assessments, or move-in readiness to justify price. The overall Summerlin buildout cadence and village amenities continue to shape buyer preference see Summerlin’s community positioning.
HOA, gate, and community positioning
HOA costs and village associations vary by subdivision. Gated entries, streetscapes, and amenity sets influence ongoing costs and perceived value. Buyers weigh monthly dues alongside taxes and insurance, so net payment often guides final offer decisions. Clean compliance, well-kept landscaping, and clear HOA disclosures make a difference during due diligence.
Pricing and Strategy for Today
Seller playbook: prep, price, launch
- Preparation: Pre-inspect key systems, touch up paint, refresh landscape rock, and de-clutter. Stage outdoor living to match the season. Present a clean, cool, and quiet home.
- Pricing bands: Anchor to the most similar three to five sales from the last 90 days, then test against active competition. If your home owns a unique view or superior lot, you can price into the next band with confidence. If you back to traffic, price below the nearest quiet comp and let presentation do the work.
- Launch timing: If possible, list into a window with stronger showing activity and positive rate momentum. Be ready to adjust within the first 2 weeks if traffic or feedback lags. With increased inventory, early alignment matters more.
Buyer tactics: search, offers, terms
- Search smart: Focus on micro-location first, then layout and yard usability. View corridors, privacy, and street flow often beat raw size.
- Offer structure: Pair strong pricing with clean terms. Shorter inspection periods, flexible rent-backs, or appraisal gap planning, when appropriate, can help you win without simply overpaying. If rates are easing, consider a short rate-lock window to keep optionality.
- Due diligence: Compare HOA dues and any transfer fees across shortlists. Ask about recent roof, HVAC, and pool equipment updates. Leverage inspection credits instead of list-price cuts when sellers are rate-sensitive.
Data to watch over 90 days
- Active inventory trend in The Paseos vs. the broader 89138 area. A rise in direct comps strengthens buyer leverage; a dip supports firmer seller pricing context: valley-level inventory discussed by Vegas Inc..
- Mortgage rate movement week to week, which affects affordability and urgency track with Freddie Mac’s PMMS.
- Sales mix: share of new-build closings versus resales. Higher new-build activity can pull some demand from resales if incentives are aggressive.
- Macro footing: local jobs and wages, plus tourism flows, inform buyer confidence in the metro over the next quarter see BLS employment snapshots and broader economic reporting.
Your Next Move in 89138
Prices in The Paseos are set by a clear mix of levers you can plan around: inventory and absorption, rates and seasonality, micro-location and features, and competition from new builds. If you price and present well, the market is still rewarding quality. If you are buying, targeted searches and thoughtful terms can secure the right home without chasing the outliers.
If you want a tailored read on your home or your short list, request a private valuation and strategy. Work directly with Gianni Sammarco for a boutique, data-driven approach to 89138 and The Paseos.
FAQs
Is The Paseos still selling above the broader 89138 median?
- Often, yes. The village’s topography, parks, and modern product support a premium. Exact spreads depend on current inventory and sales mix.
How do mortgage rates affect offers right now?
- When rates ease, more buyers engage and strong homes see firmer pricing. When rates rise, buyers push for credits or lower list prices rate context from Freddie Mac.
Are days on market longer than a year ago?
- Generally across the valley, yes. More inventory gives buyers time to compare, which lengthens market times and favors sharper pricing valley trend context from Vegas Inc..
What features move price the most in The Paseos?
- Single-story plans, view lots, updated kitchens and baths, private yards, and newer systems typically command the highest premiums.
How do new builds affect resale pricing?
- Builder incentives and delivery timelines can pull buyers from resales. Resale homes must win on lot quality, upgrades, or value to compete.
Will the local economy impact 89138 demand this year?
- Local jobs and wages, plus tourism health, feed buyer confidence. Recent data showed modest employment gains, which supports demand see BLS.
What is the best time of year to list in The Paseos?
- Spring and early summer usually bring the most showings. That said, a well-prepped home with the right price band can sell well any month, especially if rates are favorable.