Be in the Know

This week in the luxury market there were 29 new listings that went up for sale. The Ivan Sher Group represents 7 of those 29 new listings. There is a total of 414 active listings priced over $1 million throughout Greater Las Vegas. As a team, we remain in the lead for market share representing 12% of those active homes for sale.

The biggest listing to come on the market is an ultra-modern 12,000 square foot, desert sanctuary in the Ridges. Located at 7 Painted Feather, this unique residence is priced at $14.5 million!

 

There were 10 new listings in Summerlin, 9 in Henderson, 4 in Southern Highlands, 3 in the West/Southwest, and 2 in Lake Las Vegas. The average list price for luxury homes this week was $2,378,284. A very high majority of 26 had private swimming pools and only 9 were single story.

The number of sold properties remained the same as the week before with only 6 homes that closed and recorded. One of which was a sale of my own, a brand new Pardee home located in MacDonald Highlands that sold for $1,139,257.

 

Two other homes sold in Henderson, 1 in Summerlin, 1 in Southern Highlands, and 1 ranch-style home at Kyle Canyon. The average sold price for these closed transactions was $1,681,610 and the average days on market was higher than it’s been past weeks at 132.

A large batch of price reductions took place this week as well including 24 listings. Of those, 15 were listed for sale this year and 6 were listed in the last 30 days.

High-rise listings that have an asking price of $1 million or more did not have much movement. Only 1 new listing at One Queensridge Place and 1 new escrow.