Greater Las Vegas Luxury Real Estate Report July 2025!

Prescindia (Cindi) Misch July 9, 2025

 
Las Vegas Luxury Real Estate Market Update: July 2025
 
The Las Vegas luxury real estate market in July 2025 is characterized by increasing inventory, potentially leading to a more balanced environment for buyers and sellers. While the median price for luxury homes over $1 million experienced a slight dip compared to the previous month, it remains strong overall, indicating a degree of resilience in the market. High-end homes are selling quickly in desirable areas, with 
The Ridges
The Ridges, Summit Club, and  MacDonald Highlands being particularly sought-after neighborhoods. 
 
Key takeaways
  • Median Price: The median price for luxury homes over $1 million decreased slightly to $1,370,000 in May 2025 from April, according to one source.
  • Inventory: There's a notable increase in the number of luxury homes available, offering buyers more choices. In May, there were 1,175 single-family homes and 120 condos and townhomes priced at $1 million or more for sale.
  • Sales Activity: Sales activity has shown some fluctuations. In May, 159 luxury homes were sold, down slightly from 164 in April. However, sales in the ultra-luxury segment (homes exceeding $1 million) have seen significant growth in the first three months of 2025.
  • Luxury New Home Market: The luxury new home market is experiencing continued strength. Closings of homes exceeding $1 million rose 41% in the first three months of 2025. A new community, 
    Esplanade at Red Rock in Summerlin
    will offer nearly 400 homes, with more than half exceeding $1 million. 
 
Notable sales and communities
  • The most expensive home sold in a recent week reached $8,400,000, demonstrating the strength of the high-end market.
  • Ascaya
    * The Ridge
    * MacDonald Highland
    * The Summit Club
     They are consistently ranked among the top gated communities for luxury living in Las Vegas. These communities offer a range of luxury homes with prices varying depending on location, size, and amenities.
  • New luxury home offerings include 
    The Canyon Residences by Blue Heron
    starting from the high $2.9 million range, featuring modern designs and smart home technology. 

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