Las Vegas Nv Luxury Homes For Sale

Las Vegas Nv Luxury Homes For Sale – The #1 sale in April was a mansion at The Ridges in Summerlin for $9 million. T (Vegas only)

An 8,639-square-foot mansion at The Ridges in Summerlin sold for $9 million. It was the number one seller in April in Las Vegas. The house has an indoor/outdoor living room. (Vegas only)

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The master suite has a separate sitting area and a private balcony with views of the Strip and the mountains. There is a gym and a sauna. (Vegas only)

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Las Vegas and Southern Nevada saw a record 218 luxury resales in April, led by a $9 million sale and a notable $3 million purchase in Summerlin by Jenny Bass, daughter of the late Los Angeles Lakers owner Jerry Bass.

Despite falling stock markets and rising interest rates, the luxury real estate market remains strong at the moment. How long that will last, as stocks continue to fall, will be answered in the coming months.

In the first four months of 2022, the Las Vegas area recorded 659 sales of $1 million or more, with March and April setting all-time records. The 197 sales in March beat the record of 172 in March 2021. There were 533 luxury resales in the first four months of 2021, according to Forrest Barbee, a corporate broker at Berkshire Hathaway HomeServices who tracks the luxury market to the multiple listing service.

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The median price of luxury homes sold in April was $1.4 million. The median price was $1.84 million. The property has been on the market for 35 days, says Barbi, who added that he doesn’t see a downturn in the luxury market.

“We’re already hearing when interest rates go up that it’s going to drive prices down,” Barbee said. “That’s not the case, and the reason is that demand, especially at the high end, remains high.” The only time prices in these markets have gone down is when interest rates have gone up and that’s when we’ve lost business. Allegiant Stadium hosts an 1,800-seat recruiting event. I don’t think you can take away all the employment that comes from people moving in, buying luxury real estate. They create jobs.”

According to Barbie, these wealthy people who are worried about the stock market take money out and invest it in luxury real estate. This does not happen in the stock market.

“It shows how steady and steady the growth is here,” he said. “All these people waiting for death.” There is no dark cloud over our heads here.”

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Evangelina Duke-Petroni, a realtor with Berkshire Hathaway HomeServices, Ivan Shera Group’s Nevada Properties, which sold the $8.29 million McDonald Highlands in Henderson on April 2, said the luxury homes “that are special, unique and ready for the key” are selling very well. quickly “

Those that don’t stay in the market longer than in the past, he added.

“In the luxury market, that buyer is not easily swayed by interest rates,” Duke-Petroni said. “This market is more dictated by the stock market.” There are people who are waiting to see what will happen, so it is more prudent. But that doesn’t solve our inventory problem.”

However, Duke-Petroni said he doesn’t see anything that reflects the gloomy news people are seeing about the stock market and the economy. Luxury buyers are still looking for that special property, and when they find it, they’re willing to pay more.

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“When it comes to real estate prices, we’re on the mountain,” Duke-Petroni said. “I don’t think we’re in a bubble.” In a healthy market you will always have dips and peaks, but we see nothing in our everyday world that indicates any kind of bubble or crash.

The people who come are legitimate buyers looking to Las Vegas for many reasons, and it doesn’t stop there.

My property (in the Macdonald Highlands) is a good example. It had zero days on the market (as it was in “Coming Soon” status 30 days before launch). It generated a lot of interest before it aired.”

Shanta Patton, a real estate agent with ERA Brokers Consolidated who represented a couple who paid $5.3 million for a Lake Las Vegas home that was originally listed in 2020 for $7.95 million, said no he sees the market restraining luxury. According to her, there was a lot of competition when it came to buying this house.

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“I’m seeing houses that have been on the market for the last two years (like this one) now starting to get offers,” Patton said. “A lot of luxury properties have adapted to that.” There are still buyers. We looked around Henderson and there were a lot of offers on these houses.”

The largest sale in April was in Summerlin, where Bass, whose mailing address was listed as Manhattan Beach in Clark County, bought a five-bedroom home on Red Arrow Drive at Red Rock Country Club for 3 millions of dollars. Built in 2001, the two-story home is 5,122 square feet and overlooks the golf course. There is a garage for four cars.

The house has a swimming pool in front of the beach, a spa, a waterfall and a built-in barbecue in the yard. The house has a theater room with a bar. All rooms have a private bathroom.

The family room features a chef’s kitchen, a walk-in closet, and a built-in wet bar. The entrance to the courtyard has a fireplace.

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The seller was Michael Danzi, according to Clark County property records. Barbara Angelo of Signature Real Estate Group represented Danzi. Jessie Keller of Fathom Realty was Buss’ agent.

Angelo said the luxury market remains stable, although supply is still lacking. He said it might “slow down a little bit, but it won’t go down.” It remains a high-end market because while there are many similar stucco homes in Las Vegas, luxury homes are hard to come by.

“I think it can curb the fear of the unknown,” Angelo said. “Interest rates are going up a little bit and there’s a lot of talk about inflation and people are slowing down a little bit.” They are not so free to do things. Maybe they want to wait a bit and see what happens. He seems to have slowed down, but he hasn’t fallen.”

■ The #1 sale in April was at The Ridges in Summerlin for $9 million. Located on Hawk Ridge Drive, the two-story home is 8,639 square feet with four bedrooms and five full bathrooms, two partial bathrooms and a four-car garage.

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The listing called it the best home on the market in The Ridges. It underwent a major renovation that included the patio and the pool. It has large bright rooms with pocket doors. The dining room is connected to the patio. There is a wine cellar and a bar. The master suite has a separate sitting area and a private balcony with views of the Strip and the mountains. There is a gym and a sauna.

“This is a beautiful Ridges home with great city views and very elevated above the eighth fairway at Bear’s Best,” said Gavin Earnstone, broker/owner and listing agent for Simply Vegas. “This is a stunning home that we sold almost the first day on the market. We had multiple offers and sold it at retail.”

Clark County property records show the buyers were Robert and Kelly Foss, who were represented by Steven Thomas of Real Broker LLC. The sellers were John and Robin Grant.

“Good quality stuff sells right away,” Ernstone said. “It’s very positive and it looks like it will be like that until the end of the year.”

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■ The No. 2 sale of the month was on MacDonald Ranch Drive in Macdonald Highlands for $8.29 million.

Built by Sun West Custom Homes, the single-story home measures 8,495 square feet and has five bedrooms, five and a half bathrooms and a four-car garage.

The home received accolades from the Southern Nevada Association of Home Builders as the winner of the 2018 Silver Nugget Awards for Best Custom Home and Best Luxury Single Family Home, Duke-Petroni said. “The house is stunning. This is one of our favorite properties I’ve ever sold. I’ve had it twice. It’s close to the golf course and has a quality finish that you can’t see.”

The Parke M Berolzheimer Trust became the buyer. The seller was Hikronos LLC. Emily Sherwood of Corcoran Global Living was the buyer’s agent.

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■ The third sale in April was for $6.45 million on Scenic Rim Drive in McDonald Highlands. The single-story home with walk-out basement measures 5,986 square feet and has five bedrooms and a six-car garage.

There is a two-story pool with fire. Michal Zira, real estate agent at Trueu Real Estate, was the listing agent. Melinda Zolovich of Simply Vegas was the buyer’s agent.

Another high-profile sale in April was featured in Real Estate Millions

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