Vegas luxury home market bucks housing slump

The Las Vegas luxury resale market remained on a record pace through July led by a $25.25 million sale in MacDonald Highlands.

Real Estate Millions highlighted the sale of the Blue Heron-designed home that was owned by Anthony Hsieh, founder and chairman of LoanDepot.

It was one of 171 sales of $1 million and higher in July, matching the number in July 2024. The average price paid for a luxury home in July was $1.96 million, according to Forrest Barbee, corporate broker of Berkshire Hathaway Home Service.

Barbee reported there were 195 pending sales of $1 million and higher, showing that the luxury market isn’t slowing down while sales drop in the market overall.

Sales in the $1 million to $2 million range at the lower end of the luxury benchmark picked up in July while there was a drop off in sales over $2 million. Realtor Rob Jensen reported 40 sales of $2 million and higher in July, down from 49 a year ago.

The No. 2 sale in July was in The Ridges in Summerlin for $10.75 million.

The one-story home of 7,669 square feet has five bedrooms, 5½ baths and a five-car garage. It sits on 0.85 acre and was built in 2022.

Ivan Sher with IS Luxury was both the listing agent and buyer’s agent.

Sher described the home on a cul-de-sac lot in a real estate listing: “blends midcentury modern and desert contemporary design.” It has soaring ceilings, floor-to-ceiling windows, automated pocket sliders for seamless indoor and outdoor living with a pool, spa and mountain views.

The Italian-style kitchen has a 23-inch island, prep kitchen and mudroom.

All five bedrooms are en suite with patios. The primary suite offers a spa bath, soaking tub and custom walk-in closet. There’s an atrium for tranquil reflection, wellness room for fitness and meditation and a theater.

“There’s natural light, refined finishes, artistic design and spacious flow creating the perfect space for living and entertaining,” Sher said.

The No. 3 sale in July was also in The Ridges at $8.55 million.

The two-story home measures 9,771 square feet with five bedrooms, seven baths and a five-car garage. It sits on 0.62 acre and was built in 2005.

The home was listed by Randy Char with Las Vegas Sotheby’s International Realty while Frank Napoli of Berkshire Hathaway was the buyer’s agent.

“Nestled within the exclusive Promontory in The Ridges and set along the 14th green of Bear’s Best Golf Course, this architectural gem captures the essence of refined desert living, offering panoramic views and resort-style tranquility,” Char said in the listing. “Striking water features create a dramatic welcome at the entry and continue throughout the private rear yard, adding to the serene ambiance.”

Designed to live like a single story, the first floor offers a sprawling great room, dining space, gourmet kitchen, luxurious owner’s suite, four guest suites, an office and a central atrium, Char said.

Upstairs, there’s a curated collection of lifestyle amenities: a state-of-the-art fitness room, tranquil massage space, theater and game room, Char said.

“The second level wraps around an interior balcony and opens to an expansive deck, the perfect perch to soak in sweeping mountain, golf course and city views,” Char said.

The No. 4 sale was for $6.99 million in MacDonald Highlands. The one-story home measures 6,452 square feet with five bedrooms, five baths and a four-car garage. It sits on 0.37 acre and was built in 2019.

The home was listed by Tracy Bilek with Elite Realty while Misty Marshall with Sphere Real Estate was the buyer’s agent.

“This breathtaking, single-story gem designed by architect Richard Luke redefines modern living with its unparalleled design and panoramic views of the Las Vegas Strip, golf course and city lights,” Bilek said in the listing. “Fourteen-foot ceilings create a light-filled environment.”

There’s porcelain floors, high-gloss cabinets, waterfall countertops, a home office, additional second office or gym with city views, a glass wine room and a theater and pool room.

The home has a 60-foot infinity pool and spa, indoor-outdoor great room designed with outdoor kitchen, fire pits and bar area. The oversized four-car garage with lifts accommodates eight cars.

The No. 5 sale was for $6.9 million in MacDonald Highlands. The two-story home measures 4,808 square feet with three bedrooms, six baths and a three-car garage. It was built in 2023.

Mark Stuhmer with Christopher Homes Realty was the listing agent while Cindy Nguyen with Simply Vegas was the buyer’s agent.

The home has a loft and a game room with a deck. The entertainer’s kitchen is outfitted with custom cabinetry, Dacor appliances and a wine locker. The backyard is built for entertaining with a pool, spa and outdoor entertainment area.

The No. 6 sale for $5.85 million was in The Ridges in Summerlin. The two-story home measures 5,945 square feet with four bedrooms, six baths and a four-car garage. It sits on 0.39 acre and was built in 2014.

Ivan Sher with IS Luxury was the listing agent while Eric White with Luxury Estates International was the buyer’s agent.

“Architecturally stunning custom home with golf, mountain and iconic Strip views the home has walls of glass and decks on both levels that showcases indoor-outdoor elegance,” Sher said in the listing.

The great room is anchored by a copper wall, chef’s kitchen with island seating, dining area and breakfast nook. The backyard has a black-tile pool with a water feature, spa, outdoor media lounge, bar and full kitchen.

The first floor has a primary retreat with a spa bath, walk-in shower, dual closets and private patio. The second floor has a recreation room, office, theater and a suite with a private Strip-view terrace.