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Las Vegas Luxury Home Market Update

The best news for Las Vegas luxury home pricing is that inventory remains low and continues to drop.  In most Las Vegas and Henderson real estate neighborhoods the luxury home inventory is about 2/3 what it was one year ago.  For example, in Red Rock Country Club real estate there are only 37 luxury homes available for sale compared to well over 100 just 2 short years ago.  In The Ridges, in Summerlin, there are just 34 luxury homes for sale compared to approximately 55 about one year ago.  The story is similar in most luxury home communities including Seven Hills, Southern Highlands, Queensridge, MacDonald Highlands, Canyon Fairways, Bellacere, Eagle Hills, Spanish Trail, Mountain Trails, Tournament Hills, Anthem Country Club, Spanish Hills, Lake Las Vegas, Ten Oaks, Roma Hills and Canyon Gate Country Club.  On the new home building front, housing starts surged to their highest level since 2008.  Housing Starts. This is a positive sign for the economy and numerous reports concur that housing has bottomed and is now contributing to growth in the economy.  This helps our luxury home buyers feel good about a new luxury home purchase.  The worst is behind us and the Las Vegas luxury real estate market is on the upswing!

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