Ultra-luxury sales are boosting the cumulative value of home sales in the Las Vegas Valley, and it won’t be surprising if Las Vegas sets an all-time record in 2021 for the highest price ever paid for a home.
Real Estate Millions
The former CEO and president of sports betting company CG Technology sold his Sky Las Vegas penthouse for $4.35 million to mark the most expensive Strip high-rise sale so far in 2021.
The Las Vegas high-rise market has re-emerged in 2021 with one of it’s strongest first quarters ever, led in part by a surge in sales at the Trump International Hotel on the Strip.
Las Vegas Raiders owner Mark Davis and former homebuilder Larry Canarelli have closed on new clubhouse tower condos in the Summit Club as the new-home luxury market remains strong into the second quarter.
The records keep falling in the Las Vegas luxury housing market with the French countryside-style estate of former casino executive Barry Shier closing for $11.3 million in a sale to a Silicon Valley e-commerce executive.
A 13,000-square-foot home in “Billionaires Row” in Summerlin has set the high price so far in 2021 at $9.6 million and at least two more homes on the seven-home block are expected to sell in the coming days and weeks that will shatter that mark.
Magician Lance Burton has put his Henderson estate — more like a castle at the top of a hill — on the market for $4.49 million.
The “Palace in the Sky” at Panorama Towers rises above Dean Martin Drive behind the Strip, showcasing sophisticated artistic expression through its intricate architectural detailing and extraordinary finishes.
NBA center DeMarcus Cousins and Rick Harrison, the star of “Pawn Stars” on the History Channel, have sold their Las Vegas homes as the valley’s luxury housing market remains hot.
A west valley estate with an indoor basketball court and car collector’s dream with enough garage space for 20 vehicles has hit the market for $5.5 million and can be bought using cryptocurrency.
“Selling Summerlin,” from the creators of VH1’s real estate reality show “Love Listings,” will focus on what it describes as “the aggressive and luxurious real estate market in Sin City.”
Founder and owner of Synergy Sotheby’s International Realty, Gene Northup, prides himself on recognizing upcoming trends within the luxury real estate market. One, in particular, caught his attention early last year.
The recent California influx inspired Darin Marques, founder of the Darin Marques Group, Huntington and Ellis, to organize and host an exclusive event – Las Vegas Luxury Home Showcase – specifically targeting the Golden State luxury buyer.
The desire for new luxury homes during the COVID-19 pandemic hit record levels in 2020 and shows no signs of slowing in 2021 given the acquisition of custom lots by the likes of Las Vegas Raiders owner Mark Davis and a builder willing to construct a $12 million mansion in Southern Highlands on spec.
“We’ve seen a heightened awareness of spending time at home driving a desire for a higher-quality living experience,” said Blue Heron Design Director Logan Zigeler. “Buyers are looking for more functionality and purpose to each home space.”
