There were nine luxury homes in Las Vegas and Henderson sold in October that were priced over $1,000,000. This compares to twelve in October of 2011. Just one of the nine luxury home sales were distressed. In the one-half million to million dollar price range there were 60 luxury homes sold in Las Vegas, a huge increase from October of last year that saw just 37 luxury homes sold in this price range. Only one-third of these sales were distressed. We continue to see a shortage of good luxury home inventory that is priced rate and in top condition. I believe the good market is filtering up in price range and is certainly evident in the $500,000 to $1,000,000 price range. Over one million dollars should be the next part of the market to warm up! Two of the recent million dollar luxury home sales were in Eagle Hills in Summerlin, one was in The Ridges, one in Red Rock Country Club and one in Willow Creek; all luxury home neighborhoods in Summerlin on the west side of Las Vegas. One sale was in MacDonald Highlands in Henderson. The three remaining luxury home sales were spread across Boulder City and the Northwest part of Las Vegas. Six of the nine luxury home sales were in guard gated communities. The highest sold price was for $3,200,000 in MacDonald Highlands. We remain very busy here at Luxury Homes of Las Vegas selling luxury homes in both Las Vegas and Henderson, NV. Which direction do you think the luxury home market is going?
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