In October, a $15 million sale in MacDonald Highlands stole the spotlight as the most expensive luxury home closing of the month. This impressive sale was part of a trend that saw a total of 119 closings of $1 million and above, with 182 pending sales. According to Forrest Barbee, a corporate broker at Berkshire Hathaway HomeServices, this October marked the best in history, surpassing the numbers from previous years.
Las Vegas is experiencing a surge in luxury home sales, with a total of 1,485 homes sold for $1 million and above through October, already surpassing the total from the previous year. The luxury market is thriving, especially in the $3 million and above category, with 18 closings in October alone.
The average price paid for luxury homes in October was $1.96 million, and inventory levels are on the rise, with 10 months of supply available, according to Barbee.
The top sale of $15 million in MacDonald Highlands’ Dragon’s Reserve on Dragon Crest Avenue was a remarkable transaction. The property, built in 2021 by Blue Heron, offers stunning views of the Strip and mountains on its 0.59-acre lot. Boasting 10,037 square feet, seven bedrooms, eight baths, and a four-car garage, this home features luxurious amenities such as 28-foot ceilings, indoor water features, heated floors, and a chef’s kitchen. The primary bedroom includes an outdoor shower, cabana, and spa, while the outdoor space features an infinity-edge pool, spa, and kitchen.
The buyers of this exceptional property are entrepreneur brothers Joshua and David Walters, who purchased the home with cash. The Walters brothers, who are relocating from Florida to Las Vegas, plan to use the home as the base for their Fintech startup. They were captivated by the contemporary design and the sense of freedom and luxury the home exudes.
Other notable sales in October include a $5.4 million home purchase by IndyCar driver Colton Herta in MacDonald Highlands, and a $5.1 million sale in Southern Highlands. These transactions reflect the continued strength of the luxury real estate market in Las Vegas.
Real estate agents in the luxury market, such as Natalia Harris, Kaori Nagao-Chiti, and Zhivka Todorova, are optimistic about the future of luxury sales in Las Vegas. With a growing pool of younger entrepreneurs moving to the city and a sense of optimism following the presidential election, they anticipate more activity in the luxury space in the coming months.
As the year comes to a close, the luxury real estate market in Las Vegas shows no signs of slowing down. With unique and special properties like the $15 million home in MacDonald Highlands attracting buyers, the market remains vibrant and active. Buyers have a wide range of choices, and with the hope of decreasing interest rates, more luxury sales are expected in the near future. Las Vegas continues to be an attractive destination for luxury homebuyers, offering affordability and a thriving real estate market.