Lake Las Vegas housing reported strong growth for 2024

Lake Las Vegas had another strong year of growth, buoyed by sales at its 55-plus community and the continued expansion of its luxury offerings.

The east Henderson resort community recorded 357 net sales in 2024, an 18.2 percent increase over 2023 when there were 302 and 68 percent higher than 2022. When factoring in closings of people taking possessions of their homes and moving in, Lake Las Vegas reported the 2024 number reached 397, up 28 percent year-over-year.

The average price of new homes sold in 2024 was $810,545, in Lake Las Vegas, according to Las Vegas-based Home Builders Research as the community continues to move to more luxury homebuilding. There’s been strength in the existing home market as well with the average sales price over the last six months exceeding $860,000, mirroring sales prices in upscale Seven Hills in Henderson.

“Having almost 400 closings is a nice number for us because we’re a higher-end community,” said Pat Parker, the president of Raintree Investment Corp., the developer of Lake Las Vegas. “We’re still getting migration from places like Orange County (in Southern California). (Last year,) Nevada got almost 700 people that moved here, and they come to places like us.”

The median price in Orange County is between $1.3 million and $1.5 million, and Parker said Lake Las Vegas has 47 models priced below $1.4 million.

“We’re still a discount to Orange County, and we have cleaner air and less traffic,” Parker said.

Lake Las Vegas has six communities that are waterfront right and is adding a seventh this year.

The newest addition is called Parcel N4 and is escrow with a builder, which Parker said remains confidential for now. It will be 35 high-end lots located just past what’s known as the Island on the North Shore. It’s on the widest part of the lake and what Parker said are the best views.

“It’s expected to close in May,” Parker said. “They are already graded lots and we should have models up this year.”

The price tag is expected to have home prices just under $2 million with prices exceeding $2.5 million on the waterfront.

Shoreline, the 80-plus lot Blue Heron community next to the village where restaurants and retail are located, is having closings reaching nearly $3 million, Parker said. La Cova by Tri Pointe Home in South Shore is priced $2 million and up with its 40-plus lots. La Cova recently opened its models.

“People want waterfront, and that’s what we’re getting,” Parker said. “If you want waterfront you’re between $2 million and $3 million.

The Island — 60 acres surrounded by water — is on the North Shore of Lake Las Vegas north of the Westin Lake Las Vegas hotel. The luxury enclave accessible by a land bridge features luxury homes built by Blue Heron. The builder has sold 28 houses on The Island with several constructed and already moved into, Parker said. Prices range from $2 million to $8 million.

Private lot sales have been steady at The Island where home plans are getting approved by the city of Henderson to allow construction to begin, Parker said. One family bought five lots. Prices for lots range from $1 million to $1.8 million, and homes are expected to cost upward of $8 million. Some 11 lots have been sold of 27 available.

“This year, you will probably see five to six custom homes come out of the ground, which will be incredible,” Parker said. “There will be 10,000-square-foot houses and 12,000-square-foot houses. They’re going to be big and beautiful.”

Toll Brothers, which has a luxury project called Bella Strada next to The Island and with waterfront views, has sold 56 out 72 lots available. Prices range from $1.6 million to $2.5 million.

“It’s 78 percent sold out and a great success story,” Parker said.

Home Builders Research said Lake Las Vegas net sales were led by Pulte Del Webb at Lake Las Vegas with 136 sales in 2024. That’s 38 percent of the sales for the entire community in 2024.

Del Webb has sold 625 lots out of a total of 786 or almost 80 percent, Parker said.

With the California wildfires, Parker said Lake Las Vegas saw a 50 percent increase in its web traffic around that time from Los Angeles. Some of those people in Southern California are starting to buy homes, he said.

“We’re an alternative to rebuilding a house,” Parker said.

In 2025, Parker said he expects a 10 percent increase in closings with the number reaching 450.

Lake Las Vegas recently opened a 2,000-square-foot movement studio at its sports club. It has a weight room and stretching area along with saunas and cold plunges. This year, nine tennis courts will be added to the three in place already. The club has 10 pickleball courts.

A fresh Italian pasta store, A&M Pasta Lab, opened in the village to rave reviews, Parker said. It’s open Wednesday through Sunday and the owner cooks the pasta the other days, Parker said.

“Our tagline this year is community of champions,” Parker said. “We had the international triathlon in October and a year ago the Super Bowl with teams staying in Lake Las Vegas. We still have the two college rowing crew and collegiate golf at Reflection Bay (Feb. 24-26). We’re building nine tennis courts, and it’s this pasta shop. It’s just a fun place to live. Every weekend there’s something going on.”