Page 10 - 2016 Las Vegas Residential Real Estate Report

LUXURYHOMES
Luxury homes are always one of our most exciting segments to write and talk about. The Las Vegas Valley has a fascinating mix of traditional, Tuscan and modern, angular designs. While some luxury homes can be found in masterplans, there are also homes that are more estate-like to be found.
When touring newcomers to Las Vegas and asked about luxury home areas, the rst places that
often come to the mind of a local luxury real estate agent are The Ridges, a Summerlin community; MacDonald Highlands in Henderson; and Lake Las Vegas. Other luxury communities include but are not limited to Red Rock Country Club, Spanish Hills Estates, Southern Highlands and The Lakes.
There are several magni cent areas for building a dream home that are capturing a lot of interest. One project is Ascaya, built on the terraced hillsides of Henderson. With tracts overlooking the valley, many of which have vantage points that include the Las
Vegas Strip, the development offers an impressive place to build a custom home.
The Ridges continues to be thought of as the valley’s most prestigious neighborhood on the west side. Generally leading the pack in terms of price per-square foot for existing dwellings, The Ridges also has some of the valley’s premium custom homesites, situated on gentle hills that rise above the lights of the valley.
In addition to the aforementioned themes that make Las Vegas a world-class city, the Howard Hughes Corporation and Discovery Land Company are partnered on one of the most exclusive custom
lot offerings in the Western United States. The Summit started closing tracts in early 2016. A 4.5 acre site sold for $12.6 million and there are several homesites that are closer to one acre which sold between $2 million and $3.75 million. Imagine what a home built on a large, multi-million dollar lot could be like. Undoubtedly these will be of the caliber of homes developed in other major luxury destinations like Beverly Hills, Scottsdale and Miami.