The existing luxury home market saw the most home sales on record in July, led by the sale of a $15.75 million home at The Summit Club in Summerlin.
The market for luxury homes priced above $1 million is showing no signs of slowing down, even as rising interest rates impact lower price levels. According to Forrest Barbee, corporate broker at Berkshire Hathaway HomeServices, 171 sales closed in July, beating the previous record of 167 closed in July 2021. But the numbers are being impacted by rising property values that are boosting the number of homes priced above $1 million.
There were 133 luxury home sales in July 2023 and 107 in July 2022, when sales began to slow due to rising interest rates. The luxury home market shows no signs of slowing down, as 172 luxury home sales were pending as of Aug. 1, with 342 homes coming on the market in July. There are 941 homes on the market priced at $1 million or more, with an average price of $2.97 million, just shy of $3 million. According to Barbie, the average sale price in July was $2.12 million, with a median price of $1.47 million.
■ The Summit Club Home at Discovery View Court sold July 30, asking $16.5 million. It was built in 2020 by Discovery Builders and renovated in 2021. It’s 5,770 square feet and has five bedrooms, five full bathrooms and two half bathrooms. It sits on a 0.34-acre lot in the Club Village neighborhood and enjoys views of the 15th and 16th holes and is within walking distance to the clubhouse and pickleball complex.
The two-story home has a three-car garage, Strip views and outdoor entertaining space.
Kevin Marsh of Summit Club Real Estate was the selling agent and David Mastroianni was the buyer’s agent. According to Clark County records, the seller was Bickett of Ponte Vedra Beach and the buyer was Rajiv Batra.
Marsh notes in the listing that the front of the home is set back from the entrance path, providing privacy for homeowners and guests. The spacious living room blends into the open kitchen and dining area, and sliding glass doors on either side open onto the terrace, creating an indoor-outdoor living space.
According to the listing, the floorplan features two master bedroom options, one on the first floor and one on the second floor, large walk-in closets and a luxurious master bathroom with a deep soaking tub and rain shower. There are two additional guest bedrooms on the main floor, each with their own private bathroom.
The second floor includes an entertainment room, wet bar, wine storage and a golf simulator room with its own bathroom and ample terrace space, the listing states.
The backyard features a covered patio, an oversized spa and a separate above-ground hot tub.
■ The second highest sale in July was a 46th-floor penthouse at the Waldorf Astoria, which sold for $8.5 million. With three bedrooms and three bathrooms, the unit is 3,980 square feet.
The selling agent was Frank Napoli of Berkshire Hathaway HomeServices, and the buyer’s agent was Brian Nugent of IS Luxury, who represented Bickett Ponte Vedra Beach Limited Partnership. The seller was Gerald Niznick, public records show.
■ The third best-selling property was a home on Rockstream Drive in Askaya in Henderson for $8.375 million. The two-story home sits on a half-acre lot and has 6,305 square feet, five bedrooms, five-and-a-half bathrooms and a four-car garage. It was built in 2023 and renovated in 2024.
Melissa Tomastic of UMRO Realty Corp. acted as the listing agent and buyer’s agent for Jeffrey and Roxanne Fegert. The seller was Ascaya Inc., according to public records.
“A stunning expression of modern desert living, this new architectural masterpiece from Blue Heron employs organic materials and forms that reflect the Mojave landscape,” the ad states.
Nearly every room has panoramic views of the Strip, and the backyard features an outdoor kitchen and large pool for entertaining.
“Meticulously planned and crafted, this desert retreat features ample terraces, decks and paths to create a serene retreat,” the listing reads.
■ The fourth highest selling price in July was a one-story home with basement on Wildwing Court in The Ridges in Summerlin for $7.85 million. The home sits on a 0.41-acre lot and has 8,922 square feet, five bedrooms, seven bathrooms and an eight-car garage.
According to public records, Rupa Dalal and Aniruddha Gadre were the buyers, RHW Trust was the seller, Carla Redmond of Queensridge Realty was the selling agent and Gavin Arnstone of Simply Vegas was the buyer’s agent.
■ The fifth home for sale is on Ridge Blossom Road in The Ridges in Summerlin, listed for $7 million. The two-story home has 7,660 square feet, four bedrooms, six bathrooms, and a three-car garage. Built in 2017, the home sits on a 0.6-acre lot.
Tyler Brady of Las Vegas Luxury Homes was the real estate broker for Travis and Laura Brady, and Daniel Stonestreet of Six Star Realty was the buyer’s broker for Lucky Wolf Investments, according to public records.
According to the listing, the home, located in the Rimrock community of The Ridges, features a grand foyer that leads to spacious living space.
“The gourmet kitchen features top-of-the-line appliances, custom cabinetry and a large island perfect for entertaining,” the listing states. “A spacious dining area adjoins an inviting family room, where large windows offer breathtaking views. Outside, you’ll find a private oasis with a sparkling pool, spa and spacious patio area for al fresco dining and lounging. A meticulously landscaped yard provides a tranquil setting for all your outdoor activities. A state-of-the-art gym and stylish billiards room add to this home’s appeal.”
■ The No. 6 listing on Boboli Court in Seven Hills, Henderson, sold for $6.85 million. The two-story home sits on a 0.68-acre lot and has 8,372 square feet, five bedrooms and five-and-a-half bathrooms. It was built in 2016 and renovated in 2017.
Zach Walker-Reeve of Keller Williams Marketplace was the selling agent, and Lari Mirzaeva of Wardley Real Estate represented the buyer with Summit Canyon Living Trust. Joshua and Mary Jean Sparks were the previous owners, according to public records.
Overlooking the Rio Secco Golf Course, the home features a private casita, a state-of-the-art home theater and a spacious primary suite that occupies the entire second floor.
“Designed for the ultimate in indoor and outdoor entertaining, this home boasts fully retractable sliding glass doors that offer breathtaking views of the mountains and the Las Vegas Strip. Outdoor recreation is unmatched with a resort-style pool, relaxing spa, rejuvenating sauna and refreshing cold water pool. Despite its stunning architectural elements, this home offers extremely comfortable living spaces, ensuring both luxury and comfort for everyday life,” the ad states.
■ The seventh place sold was Drift Shadow Way in The Ridges for $6.8 million. The two-story, six-bedroom, seven-bathroom home has 6,695 square feet. It was built in 2010, sits on a 0.51-acre lot and has a five-car garage.
Madison Blau of IS Luxury represented the sale and the buyer. Public records show the buyer was Rock Hill RE Management and the sellers were Jason and Ashley Cummins.
“Upon entering the home, a grand staircase serves as a striking focal point, exuding grandeur and sophistication,” Blau wrote in the listing. “This stunning residence is truly captivatingly beautiful, with European oak flooring, designer lighting fixtures and exquisite finishes throughout.”
The master bedroom on the main level has a spa-like bath, and there are four guest bedrooms on the second floor with en suite bathrooms.
“A large loft with bar provides the perfect space for a study or playroom, catering to all your needs,” says Blau. “A separate casita serves as a sixth bedroom, providing privacy and convenience. The estate sits on a spacious cul-de-sac lot and features a charming pool and large yard, allowing you to enjoy your own private outdoor oasis.”
