Luxury home sales buck overall market

While new home sales have struggled overall this year, the higher end and uber-luxury segment continues to show solid results as builders continue to add more communities to tap into that market.

Las Vegas-based Home Builders Research reported there were 159 sales of $1 million and higher during the first quarter, up by five from 154 in the first quarter of 2025 and 109 in the first quarter of 2024.

Toll Brothers led the way with 44 sales during the quarter, ahead of the 30 by the Pulte Group. Toll Brothers had 22 of those sales in Ascension in Summerlin while Pulte had 11 sales in Ascension.

The development in the southwest valley is located between The Summit Club and Mesa Ridge. Prices exceed $1 million and surpass $3 million. Toll Brothers had 125 closings in 2025, while Pulte had 122 in Ascension in 2025.

Sekisui House was third with 17 sales, with four of those at Primrose Park at Summerlin, while its sibling company, Richmond American Homes, opened two.

In December, Richmond American announced the opening of the community, offering 76 luxury, two-story homes with floor plans spanning 3,400 square feet to nearly 3,700 square feet and priced up to $1.2 million.

Sekisui House was followed by Lennar with 15 and Taylor Morrison with 14.

All other builders had fewer than 10 sales during the quarter. That includes Richmond American with eight; Blue Heron, six; Tri Pointe Homes, six; and Shawood with four. Beazer, Contour Homes and Christopher Homes had two each.

Blue Heron also announced its expanding offerings with the opening of a 26-acre luxury community called Liora on the north shore of Lake Las Vegas with sales expected to start at the end of May. The homes will start at $1.67 million and exceed $2 million by including options.

There will be 60 lots with one-story and two-story homes and four floor plans that will go from under 4,000 square feet to 6,700 square feet. Work will start in the early third quarter, and the first homes will be completed in the early first quarter of 2027. An interest list has started for the project.

“The lots will be an evolution of Blue Heron’s architectural approach with new elevations and floor plans that are leveraging biophilic designs of taking elements of nature and outdoors and bringing them into the interior of the environment,” said Eric Lent, Blue Heron’s chief revenue officer. “We know when you do that, it helps reset your physiology and enhances your overall wellness and longevity. The design of these homes also will incorporate wellness elements to buyers, think saunas to cold plunge.”

Lent called the potential buyers as those 40-plus with older children who are at the point in their lives where they are purposeful about the choice they make and places they live. There’s a strong interest in wellness with these groups who “index higher” socioeconomically. The secondary target is empty nesters who are looking for a second home or retirement home and see the lake as the best option in town.

“We’re seeing interest not only from residents in the valley but from the corridor of Los Angeles to Orange County and down to San Diego,” Lent said. “More recently and more intensely we’re seeing an influx of buyers from Seattle due to the tax law changes in that market.”

Blue Heron has four actively selling communities in Lake Las Vegas.

Lent there’s an interesting dynamic when it comes to the Las Vegas housing market and not dissimilar to what’s happening in the economy overall. The K-shaped economy with the higher end doing much better has those buyers paying in cash.

“They are insulated from the day-in-and-day-out stresses of what the economy is driving on the larger population,” Lent said. “They are being buoyed by the stock market, and that part of our economy continues to thrive.”

Summerlin continues to cater to the luxury marketplace with Astra, which sits on elevated topography west of the 215 Beltway. It offers panoramic views from one of the highest points overlooking the Las Vegas Valley, according to Jose Bustamante, president, Nevada Region, Howard Hughes Communities.

Astra offers a variety of 167 homesite sizes and configurations catering to each custom home that is built there.

“Astra’s variety of homesites ensures its landscape remains visually dynamic, rich with architectural depth,” Bustamante said in a statement. “Astra has been in the planning stages for years to ensure it unfolds and delivers a stunningly beautiful neighborhood that matches the surrounding rare environment.”

Nestled along protected conservation land, Astra exists in proximity to the La Madre Mountain Wilderness and nearby Red Rock Canyon National Conservation Area.

Bustamante said Astra’s vision is illuminated through rigorous design governance that highlights architectural integrity while accommodating innovation and craftsmanship.

“Astra’s design and build guidelines allow owners two years to finalize their home design and complete their home within five years, fostering a rhythm of growth that results in a beautiful neighborhood of custom homes where memories are made, and a true sense of connection takes root,” Bustamante said.

Home Builders Research cited newcomer Robert Elliott Custom Homes of Dallas for the $22.5 million sale, and that easily topped the next highest of $13 million by Blue Heron in MacDonald Highlands in Henderson.

Ling Cod Family Holdings was the buyer for The Summit Club Home, and R&S Investments, a buyer from California, acquired the Blue Heron Home in MacDonald Highlands, according to public records.

The Summit Club home measures nearly 12,000 square feet. It has six bedrooms, nine bathrooms and a four-car garage. It sits on nearly 1 acre in a cul-de-sac, according to Ivan Sher of IS Luxury, who served as the listing agent for the builder.

Sher said the home is designed for entertainment with an open-concept layout that flows seamlessly from room to room. The home has a covered patio with a built-in barbecue and outdoor kitchen sets the stage for al fresco dining and sunset entertaining, Sher said. The zero-edge infinity pool appears to spill into the landscape, and a raised waterfall spa adds a calming, sculptural element to the backyard.

Lent said the two-story Blue Heron home measures 8,800 square feet and offers one of the best views in the valley and is one of the highest-selling homes in MacDonald Highlands. There are five bedrooms and 5½ bathrooms and a six-car garage. It has a pool.

“The way the home is laid out you get views of the Strip from multiple sides of the house,” Lent said. “It is built for entertaining and a very robust media room.”