It depends on who you ask. That’s always been the case when it comes to Real Estate and while there is a little bit of Truth to this article I found on the San Francisco Chronicle concerning Luxury Homes in Las Vegas, I really have to question if this was a paid advertisement or not.
And building homes is relatively easy – Las Vegas is surrounded by desert land available for development, so there’s always room to build a more-opulent golf course community across town from the last hot spot (concerns about the region’s limited water resources has yet to stem the building boom).
Oh Really? You might want to check on that a little closer. While there are some newer luxury golf course communities, these were planned out in the late 90′s and building started in the early 2000′s. I think it’s safe to say that South Shore in Lake Las Vegas, TPC in Summerlin, Red Rock Country Club in Summerlin, Spanish Trail, Queensridge, The Estates in Southern Highlands and The Ridges in Summerlin are not going to be duplicated anytime soon.
One developer, Christopher Homes, recently opened a neighborhood of homes in the hills west of the Strip selling for $1.7 million to $3 million. Several of the houses so far have sold to residents of adjoining neighborhoods who lived in their houses for less than five years, including homes built by the same developer, said Erika Geiser, the company’s vice president.
“They feel their residence is obsolete,” she said. “They’re looking for something more innovative, more cutting-edge.”
This community is actually in The Ridges of Summerlin, a community that was planned out as far back as 2001.
Yes, there was a time period when a new luxury Las Vegas community would pop up and be the new rage but those choices are quickly coming to an end. Unless there is a new secret ultra luxury golf course community in the works that I don’t know about, they are not just being planned in the middle of the desert somewhere.
All you have to do is take a look at the new master planned communities that are being built in Las Vegas to see that.
Here are some current stats for Homes in the Las Vegas area (includes Henderson) that are currently available for sale on the Multiple Listing Service for Las Vegas:
- 959 Single Family Las Vegas area homes listed for sale over $1,000,000
- 8 of these are listed as Bank Owned Homes
- 26 of these are classified as Short Sales
Certainly an interesting article but very poorly researched in my opinion.
Paul Francis, CRS
Coldwell Banker Premier
Las Vegas Real Estate
702.592.3058
